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Brokerages See Investment Banking Overtake Commission Fees as Main Profit Driver

Brokerages See Investment Banking Overtake Commission Fees as Main Profit Driver

SEOUL, Nov. 18 (Korea Bizwire) — Big brokerages in South Korea saw their investment banking unit report solid profits in the first nine months of this year, overtaking commission fees as their main profit driver, data showed Monday. Mirae Asset Daewoo Co., the nation’s largest brokerage, reported an operating profit of 249.8 billion won (US$214.6 [...]

Institute Uses Big Data to Analyze ATMs

Institute Uses Big Data to Analyze ATMs

SEOUL, Nov. 15 (Korea Bizwire) — A non-profit financial organization has introduced a new service to analyze the usage of ATMs across a number of regions. The Korea Financial Telecommunications and Clearings Institute (KFTC) will begin testing the cash dispensers (CD) and automated teller machines (ATM) operational effectiveness diagnostic services jointly with the banking sector [...]

Securities Firms Make Inroads in Retirement Pension Market

Securities Firms Make Inroads in Retirement Pension Market

SEOUL, Nov. 15 (Korea Bizwire) — Local securities firms are moving quickly to preempt the emerging retirement pension market as a future growth engine. The government will push for the mandatory introduction of retirement pensions through a legal revision, while introducing a retirement pension fund for small and medium-sized companies. The plan is aimed at [...]

Regulator Unveils Measures to Bolster Investor Protection over Risky Assets

Regulator Unveils Measures to Bolster Investor Protection over Risky Assets

SEOUL, Nov. 14 (Korea Bizwire) – South Korea’s financial regulator on Thursday unveiled a raft of measures to better protect consumers in the wake of improper sales of derivatives linked to overseas interest rates that carry the risk of losing nearly all the money invested in them. Under the measures, banks will be banned from [...]

Executive Job a Pipe Dream for Most Bankers

Executive Job a Pipe Dream for Most Bankers

SEOUL, Nov. 13 (Korea Bizwire) — Recent data has confirmed that it is almost impossible for bankers to reach executive positions. According to the Financial Supervisory Service’s Financial Statistics and Information System, out of 230,595 employees working in the country’s financial sector, including banks and insurers, as of the end of June, only 2,969 were [...]

Samsung’s Market Cap Grows Despite Poor Performance

Samsung’s Market Cap Grows Despite Poor Performance

SEOUL, Nov. 10 (Korea Bizwire) — Samsung Group’s market capitalization has continued to grow this year, largely led by a sharp increase in the market capitalization of its flagship company, Samsung Electronics, data showed Sunday. As of the end of October, the combined market capitalization of the group’s 16 listed subsidiaries came to about 434.8 [...]