SEJONG, Dec. 12 (Korea Bizwire) — The South Korean government has announced plans for a second Pangyo Techno Valley by 2022, which will provide office space to nearly 1,400 businesses at affordable prices to boost promising startup companies. Under the startup complex project plan revealed on Monday, a new industrial complex will be built in addition [...]
SEOUL, Dec. 11 (Korea Bizwire) — Amid growing interest in cryptocurrency, security experts have warned that North Korean hackers could target bitcoin exchanges next year. During a press conference held on Friday, the Korea Internet & Security Agency (KISA) revealed a report predicting seven cyberattacks would likely come next year, with cryptocurrency exchanges as the likely [...]
SEOUL, Dec. 11 (Korea Bizwire) – South Korea is considering banning all kinds of cryptocurrency transactions in the country as a way to cool down the worldwide craze for digital currencies, the top financial regulator said Monday. “I don’t see bitcoin transactions as financial deals,” Financial Services Commission (FSC) Chairman Choi Jong-ku said in a luncheon meeting with reporters. ”They are not institutionalized [...]
SEOUL, Dec. 7 (Korea Bizwire) – A shocking report has revealed that 6 in 10 middle class families in South Korea could suffer from financial hardships after retirement due to a lack of proper preparation. A study conducted by NH Investment & Securities’ research center found that 61.7 percent of middle class households believe their income [...]
SEOUL, Dec. 7 (Korea Bizwire) – South Korea’s foreign ministry said Thursday it plans to persuade the European Union (EU) to exclude Asia’s fourth-largest economy from the EU’s new blacklist of tax havens. On Tuesday, the EU unveiled a list of 17 noncooperative tax jurisdictions including South Korea, Macau and the Marshall Islands, saying that [...]
SEOUL, Dec. 7 (Korea Bizwire) — Major foreign investment banks (IBs) have upgraded their 2018 growth forecasts for the South Korean economy on its strong exports, a report showed Thursday. According to the report by the Korea Center for International Finance, Barclays, Goldman Sachs and seven other foreign IBs have forecast Asia’s fourth-largest economy to [...]
SEOUL, Dec. 3 (Korea Bizwire) — Expectations that South Korea will achieve 3 percent growth and per capita income of US$30,000 are on the rise for 2018 fueled by the strengthening of the global economy, market watchers said Sunday. Observers said that the upbeat forecast is based on gains in exports in the new year [...]
SEOUL, Nov. 30 (Korea Bizwire) – The government will reimburse debts for nearly 1.6 million people to give a second chance to those haven’t been able to escape the debt trap for over a decade. According to the Financial Services Commission (FSC) on Wednesday, up to 6.2 trillion won will go towards the principal balance of [...]
SEOUL, Nov. 29 (Korea Bizwire) – A new report has revealed over 75 percent of jobs in finance could evaporate when the fourth industrial revolution takes off in South Korea. According to the report released by the Hyundai Research Institute on Tuesday, nearly 760,000 jobs in the financial sector could be replaced with computers, accounting for [...]
SEJONG, Nov. 28 (Korea Bizwire) – South Korea’s economy is expected to grow at a brisk 3.2 percent this year, faster than the earlier estimate of 2.6 percent, on the back of improving exports and corporate investment, a Paris-based international organization forecast Tuesday. For next year, the Organization for Economic Cooperation and Development (OECD) revised [...]