SEOUL, Feb.23 (Korea Bizwire) – A picture of a man’s hand holding a mobile phone shaped device that resembles a POS (point of sale) terminal, also known as a credit card machine, created a great buzz on the internet. The user who uploaded the picture on Facebook captioned the photo as a new way of [...]
SEOUL, Feb. 22 (Korea Bizwire) – Samsung Electronics Co. said Saturday it plans to release its mobile payment system Samsung Pay in major markets, including China, next month, speeding up its efforts to expand the presence of the platform amid the rise of rivalry services. Samsung Pay, first released in South Korea and the United [...]
SEOUL, Feb.18 (Korea Bizwire) – With the adoption of a new account transfer system and Individual Savings Accounts (ISA), banks are going all out to attract clients with various giveaways. Industry analysts note that Shinhan Bank is currently running a promotion in which customers will have a chance to win a Hyundai Avante. Clients who [...]
SEJONG, Feb. 18 (Korea Bizwire) – South Korea will make efforts to prevent rising North Korean risks from hampering foreign investment in the country following North Korea’s latest nuclear test and rocket launch, the trade minister said Thursday. After carrying out an alleged hydrogen bomb test in early January, Pyongyang defiantly launched a long-range rocket [...]
SEOUL, Feb.16 (Korea Bizwire) – Woori Bank announced the launch of its ‘WiBee Quick Global Wiring’ service, which links with the WiBee Talk platform and provides benefits related to exchange rates and commissions. Through WiBee Quick Global Wiring, clients can wire money directly to a foreign branch of Woori Bank without going through an intermediary [...]
SEOUL, Feb.16 (Korea Bizwire) – Apple’s Apple Pay mobile payment service will launch in China on February 18. Samsung is hoping to follow shortly with its Samsung Pay service, and is currently wrapping up negotiations with Chinese partners, adding a sense of tension to the Chinese mobile payment market. According to Chinese media, Apple Pay [...]
SEOUL, Feb.10 (Korea Bizwire) – The number of households having trouble paying off their debts due to a lack of income is increasing. According to data issued by the Bank of Korea (BOK), the number of households with limited financial ability was 1,580,000 in March 2015, which was 14.7 percent of the 10,720,000 households with [...]
SEOUL, Feb.10 (Korea Bizwire) – With drones at the center of attention as a future growth industry, insurance companies are preparing for serious competition to take the lead in the blue ocean which is insurance for drones. The increasing attention given to drones themselves has provoked interest in the possibility of drone accidents, and indemnity [...]
SEOUL, Feb.1 (Korea Bizwire) – Data indicates that half of all Korean internet users plan to use O2O (Online to Offline) services related to everyday life, such as food delivery and booking accommodation services, as well as fintech services including simple payments and money transfers. On the other hand, users seem skeptical about using O2O [...]
SEOUL, Feb.1 (Yonhap) – South Korea plans to introduce an omnibus account system for foreign traders to help boost their convenience in trading stocks on the Korean bourse, the financial regulator said Sunday. The envisioned program is also expected to help get its stock market included on the Morgan Stanley Capital International (MSCI) advanced market [...]