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Robo Advisors Outshine in Bear Market

Robo Advisors Outshine in Bear Market

SEOUL, Sept. 17 (Korea Bizwire) — Investments supported by so-called robo advisors, or computer programs that make financial decisions, outperformed the overall market in South Korea last month, when the local stock market remained bearish, data showed Tuesday. According to the data from Koscom Corp., the system manager of the Korean bourse operator Korea Exchange, [...]

Securities Companies Do Away with Formal Work Attire

Securities Companies Do Away with Formal Work Attire

SEOUL, Sept. 11 (Korea Bizwire) — There is a wave of change at South Korean securities companies, which used to be represented by business suits and formal dress. Allowing casual wear and the liberalization of dress codes is starting at some brokerages. Shinhan Investment Corp., has decided to simplify the attire of its branch tellers [...]

Major Bank Experiments with Flexible Work Hours via Digital Office Initiative

Major Bank Experiments with Flexible Work Hours via Digital Office Initiative

SEOUL, Sept. 10 (Korea Bizwire) — One of Korea’s largest banks is seeking to innovate its work environment through a new flexible work-hour system. KB Kookmin Bank has been running a “KB Digital Office” system since mid-August that has enabled employees to call it a day from wherever their last meeting is, according to financial [...]

Samsung Chief’s Share Value Rises Most over Past 5 yrs

Samsung Chief’s Share Value Rises Most over Past 5 yrs

SEOUL, Sept. 10 (Korea Bizwire) — Lee Kun-hee, chief of South Korea’s top conglomerate, Samsung Group, saw his stock value increase the most over the past five years compared to other business tycoons, a report showed Tuesday. Lee, bedridden, held stocks worth 14.8 trillion won (US$12.4 billion) as of Friday, according to the report compiled [...]

S. Korea’s Internet Banking Transactions Surge to Record High in 2018

S. Korea’s Internet Banking Transactions Surge to Record High in 2018

SEOUL, Sept. 10 (Korea Bizwire) — The number and value of daily banking transactions via the internet climbed to new highs last year, with internet banking accounting for more than half of all bank transactions for the first time in history, central bank data showed Tuesday. The average number of daily transactions processed via the [...]

S. Korean Economy Shows Signs of Deflation as Consumer Prices Decline

S. Korean Economy Shows Signs of Deflation as Consumer Prices Decline

SEOUL, Sept. 9 (Korea Bizwire) — South Korea’s consumer price index declined for the very first time last month, a sign of deflation. Experts point out that declining consumer prices may become the so-called ‘new normal’ for South Korea. Statistics Korea reported that South Korea’s consumer prices reached a growth rate of 0.5 percent this [...]

S. Korea Needs to Act Boldly to Avoid Deflation: Krugman

S. Korea Needs to Act Boldly to Avoid Deflation: Krugman

SEOUL, Sept. 9 (Korea Bizwire) — South Korea needs to act boldly to avoid deflation, a Nobel Prize-winning economist said Monday, as Asia’s fourth-largest economy has plenty of fiscal space and favorable budget positions. Paul Krugman, an economics professor at the City University of New York’s Graduate Center, said South Korea should undertake fiscal stimulus. [...]

S. Korea’s Growth Potential Set to Decline Due to Aging Population

S. Korea’s Growth Potential Set to Decline Due to Aging Population

SEOUL, Sept. 9 (Korea Bizwire) — South Korea’s growth potential is expected to fall at a faster rate than earlier anticipated largely due to the aging of the population that will also lead to a cut in the number of eligible workers, a central bank report said Monday. The country’s growth potential for the 2016-2020 [...]

Consumer Prices Poised to Hit Record Low Growth in 2019

Consumer Prices Poised to Hit Record Low Growth in 2019

SEOUL, Sept. 8 (Korea Bizwire) — South Korea’s consumer price growth is anticipated to hit a record low level this year due mainly to declines in prices of agricultural and petroleum products, market watchers said Sunday. South Korea’s consumer prices inched up 0.5 percent over the January-August period, marking the lowest figure since Statistics Korea [...]

New Savings Accounts Combine High Interest and Travel Benefits

New Savings Accounts Combine High Interest and Travel Benefits

SEOUL, Sept. 5 (Korea Bizwire) — Recently, commercial banks have been offering a series of “travel-themed” installment savings products. Subscribing to related products has become popular as account holders can receive airline mileage or travel-related benefits along with basic interest at maturity. On Wednesday, KEB Hana Bank unveiled its one-year installment savings product “My Trip,” [...]