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Optimus fraud was massive, dramatic and audacious

Optimus Asset Management made billions of won in illicit transactions, embezzled money and deceived investors and brokerages, the Financial Supervisory Service (FSS) announced Thursday.

Seoul stocks down as U.S.-China friction continues

Stocks closed lower for the second straight day Thursday due to weaker-than-expected growth data and rising U.S.-China friction. The won fell against the dollar.

Hyundai Card to offer a Socar credit card

Hyundai Card has partnered with car sharing service Socar to launch a branded credit card Thursday.

K bank's recapitalization gets green light from the FSS

K bank's recapitalization was approved by the Financial Supervisory Service (FSS), allowing BC Card and Woori Bank to swoop in with hundreds of billions of won and pull Korea's first online-only bank back from the brink.

Seoul stocks close flat as optimism starts to fade

Stocks closed flat Wednesday as investors cashed in profits amid virus fears marring hopes of economic recovery. The won rose against the dollar.

Foreign currency deposits hit a record high in June

Foreign currency deposits at banks in Korea surged to a new record high in June, central bank data showed Wednesday, amid pandemic-caused uncertainties that pushed both businesses and individuals to boost their currency holdings.

More firms buy back shares to stabilize prices in wake of Covid-19

Korea has seen a spike in the number of listed firms that have decided to buy back their own shares this year to stabilize share prices amid the coronavirus fallout, data showed Tuesday.

Seoul stocks up as EU spending plan boosts optimism

Stocks closed up 1.4 percent on Tuesday after the leaders of European Union member nations reached a massive stimulus package deal to support pandemic-hit economic activities. The won rose against the dollar.

Private equity funds go under FSS magnifying glass

The Financial Supervisory Service (FSS) officially launched a full-fledged probe into all private equity funds. The investigation is expected to continue until 2023.