Latest news with #KoreanWon
Yahoo
a day ago
- Business
- Yahoo
Circle Mania Grips South Korea as Retail Investors Pile Into Stablecoin Play
New York-listed Circle (CRCL) has become the breakout stock of June in Seoul. South Korean retail traders have poured nearly $450 million into shares of Circle Internet Group, per Bloomberg. The flurry of investment makes Circle the most heavily bought overseas stock this month and a top-four pick for the year. Since its June 5 debut, the stock has rallied more than 500%, briefly hitting a $77 billion market cap, making the company more valuable than its issued stablecoin USDC, which sits on a market cap of over $61 billion. South Koreans have been known to drive euphoric rallies in both their stock markets and major tokens, such as XRP XRP and dogecoin DOGE. It has even given rise to the crypto market-specific 'Kimchi premium,' where local investors aggressively chase high-volatility assets, pushing prices higher by 10%-20% on local exchanges compared to their global peers. The demand for Circle comes on the back of newly elected President Lee Jae Myung fast-tracking of reforms to legalize korean won (KRW_-backed stablecoins, giving fintech giants like KakaoPay a clear runway to issue digital won. KakaoPay's shares are up 160% in June alone, and Korean investors are now likely applying that same thesis abroad, with Circle as the global proxy for stablecoin adoption. While Circle is a freshly public company, it's one of the few firms offering pure exposure to the infrastructure layer of stablecoins, one of the few sectors in crypto that has achieved breakout momentum outside of niche in to access your portfolio
Bloomberg
a day ago
- Business
- Bloomberg
EQT-Backed SK Shieldus' $2.4 Billion-Equivalent Loan Launches
EQT-backed South Korean cyber security firm SK Shieldus Co. has launched an around $2.4 billion-equivalent syndicated loan to refinance a facility that had backed its acquisition, according to people familiar with the matter. The five-year refinancing, which is denominated in Korean won, is being marketed to the broader market, notably to South Korean banks, said the people, who asked not to be identified discussing private matters. KB Securities, Kookmin Bank and Korea Investment & Securities Co. are the joint arrangers, they said.
Bloomberg
04-06-2025
- Business
- Bloomberg
Emerging Stocks Gain on Global Optimism as Korea Leads Rally
Emerging-market stocks gained for a second straight session, buoyed by strong US labor data that lifted global equities to a record high. The MSCI Emerging Markets Index climbed as much as 1.2%, led by a surge in Asian tech stocks. The Korean won outperformed peers while the country's equity market entered bull territory — adding further momentum to the broader emerging-market rally. An index for EM currencies inched higher, as the dollar slipped.
Wall Street Journal
04-06-2025
- Business
- Wall Street Journal
Korean Won to See Better Days on Lee Jae-myung's Election Victory
0055 GMT — The Korean won is set to see 'better days ahead' following the Democratic Party's Lee Jae-myung victory in the country's presidential election, TD Securities says. 'We see two wins for KRW on the horizon,' two members of the brokerage's Global Rates, FX & Commodities Strategy say. These are an imminent fiscal package and a swift U.S.-South Korea trade deal, they say. However, the brokerage's 'Macro Ranking Scorecard Index' is neutral on KRW, and doesn't favor chasing USD/KRW lower on this news. Instead, TD Securities prefers selling USD/KRW into USD rallies and likes short USD/KRW positions above 1,400.00. USD/KRW is 0.2% lower at 1,375.66. ( 0033 GMT — Asian currencies consolidate against the dollar in the morning session, but may be buoyed by Tuesday's strong U.S. job openings data. The Job Openings and Labor Turnover Survey, known as the JOLTS report, showed 7.4 million open positions listed in April, beating economists' expectations. The surprise lift in JOLTS figures has bolstered sentiment, NAB's Tapas Strickland says in a commentary. The data likely highlights ongoing resilience in the U.S. labor market, the head of Market Economics adds. USD/JPY edges 0.1% lower to 143.88; USD/SGD is little changed at 1.2892; AUD/USD is steady at 0.6460. (
The Irish Sun
16-05-2025
- Entertainment
- The Irish Sun
‘Should be illegal' – Man Utd and Spurs fans face staying in £2000 Squid Game-like hostel for Europa League final
A BILBAO hostel has been slammed for charging football fans over £2,000 - to stay in beds reminiscent of Netflix show Squid Game. 2 A hostel that reminds fans of Squid Game has gone viral for its Europa League pricing Credit: Jam Press/Bilbao Metropolitan Hostel by Bossh Hotels 2 The Bilbao Metropolitan Hostel is charging fans over £2000 for a three-day stay Credit: Jam Press/Bilbao Metropolitan Hostel by Bossh Hotels The Prem sides are set to do battle at the Estadio de San Mamés next Wednesday. But the Bilbao Metropolitan Hostel - just a nine-minute drive from the ground - has been accused of cashing in. Disgruntled supporters have likened the bedroom set-up to the dorms in Squid Game, which became a global phenomenon in 2021. Contestants are forced to sleep in a warehouse full of bunk beds in the South Korean show. READ MORE ON FOOTBALL And fans were outraged to learn the price for a three-night stay in similar digs at the Bossh Hotels hostel. Four adults would need to fork out a whopping £2,338 if they wanted to stay from Tuesday, May 20 to Friday, May 23, as reported by Fans flocked to social media to complain about the hostel raising prices so dramatically ahead of Wednesday's showpiece. One fan wrote in response: "Sleeping in Squid Game for £2,000." Most read in Football BEST ONLINE CASINOS - TOP SITES IN THE UK Another joked: "You could win 45 billion Korean Won." While a third added: "Should be illegal to take advantage like they are." Bruno Fernandes matches Cristiano Ronaldo record as he wins Man Utd award - but admits he DOESN'T want it And a fourth countered: 'Surely no one's paying £2,000 for a hostel. I wouldn't even pay £200. Would rather sleep in the airport." Bossh Hotels has been approached for a comment. Last week, it was revealed United are Man Utd ratings vs West Ham as Ugarte awful and Mainoo invisible in latest horror show MANCHESTER UNITED dropped to 16th in the Premier League after suffering an embarrassing 2-0 defeat to West Ham at Old Trafford. Ruben Amorim named a strong team for United's return to domestic duty, but not even Amad Diallo could save the day. United gave fans a lively start, but reverted back to factory settings after the visitors took the lead inside 27 minutes. West Ham picked off United against the run of play, before former Man Utd star Aaron Wan-Bissaka came back to haunt his old club. The full-back fed a clever ball through to Mohammed Kudus, who thrashed a low cross into the six yard box for Tomas Soucek to tap home. United got caught cold again and were the masters of their own undoing, after Kudus pounced on Manuel Ugarte's mess up to set up Jarrod Bowen, who doubled West Ham's lead in the 58th minute. Apart from some bright moments from Amad, this was another awful performance from the home side, as West Ham became the SIXTH team to the double over United this season. The Red Devils haven't haven't won a Prem game since their 3-0 win at Leicester on March 16, which incidentally was the last team West Ham beat in February. Here's how Both clubs have been allocated around 15,000 seats each by Uefa . It's been reported that
