S Korea to raise minimum wage by 5 1per cent next year channelnewsasia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from channelnewsasia.com Daily Mail and Mail on Sunday newspapers.
By Syndicated Content
By Joori Roh
SEOUL (Reuters) â Yun Hae-ri, a 26-year-old South Korean cryptocurrency investor, has seen the value of a coin named Metadium nearly wiped out since she bought it in April.
Like many South Korean retail investors, Yun has thousands of won in smaller cryptocurrencies, seen as alternatives to bitcoin, which have plummeted in value as regulators crack down on the sector.
By Sept. 24, South Koreaâs numerous cryptocurrency exchanges will need to disclose risk management and partner with banks to ensure trading accounts are held by real people.
The rules, analysts say, could result in exchanges delisting hundreds of such âaltcoinsâ as they vie for tie-ups with banks.
S Korean stocks fall most in nearly 2 months on record daily virus cases reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
By Reuters Staff
1 Min Read
SEOUL, July 6 (Reuters) - South Korea’s finance ministry said on Tuesday it will consider reviewing the normalisation of loosened foreign exchange rules, given that the FX liquidity situation at home has improved.
“Uncertainties in international financial markets may increase due to global inflation conditions and monetary policy normalisation talks in major economies,” Vice Finance Minister Lee Eog-won said.
“In this regard, (the ministry) will review normalising some of the foreign exchange rules that have been loosened as part of COVID-19 responses, including the FX derivatives rules,” Lee added.
In March 2020, South Korea raised the cap on the foreign currency forward positions that local banks can hold to 50% of their equity capital, from 40% previously, to help ease a dollar funding squeeze as the coronavirus pandemic hit financial markets globally. (Reporting by Joori Roh; Editing by Kim Coghill)
Economists see rate hike as early as Q3 S.Korea likely first Asian economy to normalise easy policy Consumers, manufacturers hit by faster-than-expected inflation (Adds economist comments, consumer anecdote, background)
SEOUL, July 2 (Reuters) - Consumer inflation in South Korea stayed above 2% in June for the third consecutive month, hovering near a nine-year peak, adding pressure on policymakers to raise interest rates sooner rather than later.
Consumer prices rose 2.4% from the same month a year prior, government data showed on Friday, slightly missing analysts’ 2.5% forecast and a tad off May’s 2.6% - the fastest growth since April 2012.
The breakdown of data showed the cost of agricultural, livestock and fisheries products rose 10.4% on year, while that of petroleum surged 19.9%.