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Financial Authorities Convene Exchanges Urgently Security Strengthened Against Hacking
Photo: 한겨레
In short
Binance, the world's largest cryptocurrency exchange, suffered a hacking loss of approximately 8 trillion won.
The Financial Services Commission called domestic exchanges to discuss security measures.
They instructed exchanges to increase the proportion of cold wallets, which store coins offline.
Key facts
When
The Financial Services Commission held an emergency meeting at 10 a.m. on November 2.
Who
The Financial Services Commission, Financial Supervisory Service, Financial Security Institute, and exchanges including Upbit, Bithumb, and Coinone attended.
What
Following the Binance hacking worth approximately 8 trillion won, they reviewed the security systems of domestic exchanges.
How
They ordered increases in cold wallet allocation, constant monitoring of deposits and withdrawals, and additional reserve provisions.
What it means for me
Investors trading cryptocurrency may experience different levels of asset protection depending on strengthened exchange security measures.
Economy · 3 sources combinedp. 2 / 7
Lee finds Korea Grand Festival Urges growth warmth to spread
D-8 Deadline November 15 · Korea Grand Festival ends
Photo: 연합뉴스
In short
Deputy Prime Minister Lee Hyung-il visited Happy Department Store in Mokdong, Seoul to check on consumer events.
He said he hopes the recovery in exports and investment will reach small street shops.
Korea Grand Festival runs for 18 days from October 29 to November 15.
Key facts
When
Visit on November 6. Korea Grand Festival runs for 18 days from October 29 to November 15.
Where
Scene from 'Happy Inventory Discount Sale' held at Happy Department Store in Mokdong, Seoul.
Who
Deputy Prime Minister Lee Hyung-il and Second Vice Minister Lee Byung-gwon of the Ministry of SMEs and Startups.
What
Checked discount events with small businesses and self-employed vendors and urged spread of smart consumption.
What it means for me
At Korea Grand Festival venues nationwide, you can buy small business and self-employed products at discount prices.
Korea Grand Festival participation can mean a chance for self-employed vendors to clear inventory and boost sales.
Finance · 3 sources combinedp. 3 / 7
Personal data breach emergency response Extended through end of December
D-54 Deadline December 31 · Emergency response period end date
In short
Personal information has leaked again from the financial sector.
Authorities have extended the period to prevent secondary damage such as voice phishing scams through the end of December.
There have been no reported cases of money being stolen so far.
Key facts
When
The Financial Services Commission announced on November 6 and extended the emergency response period through the end of December.
Who
Financial authorities and the entire financial sector are responding jointly.
What
The emergency response period for secondary damage from personal data breaches, which was October 6–November 5, has been extended through the end of December.
How
Financial companies will continue preventive inspections, maintain consumer alerts at 'caution' level, and operate the counseling hotline 1394.
What it means for me
Be cautious of texts and calls from unknown sources and verify with 1394 if suspicious.
Finance · 3 sources combinedp. 4 / 7
TPG to make public offer for Lotte Rental 831.7 billion won invested for delisting
D-26 Deadline December 3 · Public offer application deadline
Photo: 연합뉴스
In short
US private equity fund TPG will make a public offer for remaining shares of Lotte Rental.
It will purchase 38.83% of remaining stake at 59,000 won per share.
If the acquisition succeeds, TPG will make Lotte Rental a wholly-owned subsidiary and pursue delisting.
Key facts
When
Public offer will run for 28 days from November 6 to December 3.
Who
Lexicon Korea Hold Co., a special purpose company of TPG, is the acquirer.
What
Will acquire 38.83% remaining stake (14,097,325 shares) at 59,000 won per share.
How
Will invest total 831.7 billion won, convert to wholly-owned subsidiary, and voluntarily delist.
What it means for me
Lotte Rental shareholders must decide whether to tender shares by December 3.
Economy · 3 sources combinedp. 5 / 7
Paik Jong-won delivers pizza Also visits fire station
D-4 Deadline November 11 · New menu additional discount deadline
Photo: 매일경제
In short
CEO Paik Jong-won worked as a delivery driver for one day at a Baekyeok Boy Pizza franchise in Gyeryongsi, South Chungcheong Province.
He added new menu items he bought personally to the ordered pizzas and delivered them directly to customers.
He also visited the local fire station and shared pizza with firefighters.
Visitor info
Period
Baemin: 7,000 won discount on all Baekyeok Boy Pizza menus until November 15
Discount
Additional 3,000 won discount on new menu until November 11, maximum 10,000 won benefit
Key facts
When
The video was released on November 5 on the YouTube channel 'Paik Jong-won'.
Where
It took place at a Baekyeok Boy Pizza franchise in Gyeryongsi, South Chungcheong Province.
Who
Paik Jong-won, CEO of The Born Korea, worked as a delivery driver for the day.
What
He added the new menu item 'Cheese Kick Charcoal Bulgogi Pizza' that he purchased personally.
What it means for me
Customers ordering Baekyeok Boy Pizza's new menu by November 11 can receive up to 10,000 won discount.
Economy · 3 sources combinedp. 6 / 7
BYD delivers 1,000 PHEVs Imported car leads 3 months straight
