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ESG Funds Emerge as Hot Investment in S. Korea

ESG Funds Emerge as Hot Investment in S. Korea

SEOUL, April 12 (Korea Bizwire) — Investment funds in South Korea that consider environmental, social and governance (ESG) factors in investment decisions are emerging as a hot trend in the nation’s financial industry. The number of financial products that are classified as equity ESG funds among domestic public offering funds as of Thursday totaled 36 [...]

NPS to Raise Ceiling for Portion of ‘Strategic’ Investment in Domestic Stocks

NPS to Raise Ceiling for Portion of ‘Strategic’ Investment in Domestic Stocks

SEOUL, April 9 (Korea Bizwire) — South Korea’s top institutional investor National Pension Service (NPS) said Friday it will raise the ceiling for the portion of its “strategic” investment in local stocks, a move to help ease the fund’s selling spree to meet its stockholding target. Under the latest decision, the ceiling for the share [...]

Electronic Payments Hit Record High in 2020 amid Pandemic

Electronic Payments Hit Record High in 2020 amid Pandemic

SEOUL, March 29 (Korea Bizwire) – The amount of payments made electronically hit a record high last year, central bank data showed Monday, as the COVID-19 pandemic prompted people to engage in contact-free commerce. The daily average amount of electronic financial transactions came to 705.5 billion won (US$624 million) in 2020, up 32.7 percent from [...]

Insurers Release Plans for Allergic Reaction to COVID-19 Vaccines

Insurers Release Plans for Allergic Reaction to COVID-19 Vaccines

SEOUL, March 26 (Korea Bizwire) — Insurance companies are coming up with plans that offer compensation for severe allergic reactions to coronavirus vaccines as South Korea begins inoculations. LINA Korea introduced a new short-term, micro-insurance plan on Thursday that offers compensation for various kinds of anaphylactic shock. If a subscriber suffers from anaphylactic shock for [...]

Credit Card Companies Turn to Transaction Data for Financial Breakthrough

Credit Card Companies Turn to Transaction Data for Financial Breakthrough

SEOUL, March 17 (Korea Bizwire) — Credit card companies are looking for a financial breakthrough in the data industry as they continue to struggle from Buy Now, Pay Later (BNPL) services. The onslaught of the fintech companies is pushing credit card companies away from their profit centers, after they lost monopoly over the BNPL market [...]

Market Value of Cryptocurrencies in S. Korea Spikes Tenfold over 3 Years

Market Value of Cryptocurrencies in S. Korea Spikes Tenfold over 3 Years

SEOUL, March 16 (Korea Bizwire) – The market value of cryptocurrencies in South Korea has shot up nearly 10 times over the past three years amid keen investor interest, industry sources said Tuesday. According to local cryptocurrency exchange Upbit, its market index stood at 9,742.62 points as of 5:45 p.m. Monday, almost 10 times the [...]