SEOUL, April 8 (Korea Bizwire) — The number of foreign customers at the seven major banks in Korea has surpassed 5 million for the first time. According to bank industry representatives on April 7, the number of non-Korean customers at KB Kookmin, KEB, Hana, Nonghyup, Shinhan, Woori and IBK reached 5.48 million last year, which [...]
SEOUL, April 8 (Korea Bizwire) — Funds that invest in Chinese stocks have soaked in money in South Korea as investors were flocking to the mainland equities ahead of the launch of a new trading scheme connecting Shenzhen and Hong Kong, data showed Wednesday. Mainland Chinese stock funds have drawn a net 675 billion won [...]
TORONTO, ONTARIO, Mar. 31 (Korea Bizwire) – Bank of Montreal (TSX:BMO)(NYSE:BMO) announced that the nominees listed in the bank’s management proxy circular dated February 6, 2015, have been elected as directors of BMO. The detailed results of the vote for the election of directors held at BMO’s Annual Meeting earlier today in Toronto are set [...]
SEJONG, March 26 (Korea Bizwire) – South Korea will join the China-led regional development bank as one of its founding members, the finance ministry announced Thursday, helping bolster the Asian neighbor’s growing clout in the region that is alerting the U.S. The ministry said the decision to become a member of the Asian Infrastructure Investment [...]
SEOUL, March 25 (Korea Bizwire) – As the Shenzhen Stock Exchange is expected to open to international investors in the latter half of this year, Korean securities companies are busy preparing to join the market by aligning their trading systems and analyzing the stock items in the market. According to financial industry observers, the stock connect [...]
NEW YORK, Mar. 24 (Korea Bizwire) — Nasdaq (Nasdaq:NDAQ) and Noble Markets, announced today that Noble Markets will implement Nasdaq’s X-stream trading technology for the company’s soon to be launched digital currency marketplace. X-stream is the most widely used exchange trading technology in the world, powering more than 30 marketplaces globally. “Noble was founded on [...]
SEOUL, March 23 (Korea Bizwire) – Motorists in Korea most frequently call the emergency service provided by their insurance company when their car battery is dead or when they need a jump-start. According to the Korea Consumer Agency, which recently surveyed 1,000 drivers who subscribed to a roadside assistance service offered by an insurance firm, [...]
SEOUL, March 23 (Korea Bizwire) — A special financial service that converts a variable rate loan into a fixed rate loan will be launched by 16 Korean banks on March 24, as part of the Korean government’s efforts to mitigate household debt. However, each branch is expected to offer the service to an average of only [...]
Singapore, Mar. 23 (Korea Bizwire) — MoneyGram (NASDAQ: MGI), a leading global money transfer company, has been selected for The Asian Banker’s prestigious Excellence in Remittance Business award across Asia Pacific, Central Asia and the Middle East and Africa, for the first time. A photo accompanying this release is available at http://www.globenewswire.com/newsroom/prs/?pkgid=31564 The Asian Banker, [...]
“The Asian Infrastructure Investment Bank and the Silk Road Fund initiated by China are also very important, and they will follow internationally accepted rules in their operations” “These initiatives will provide capital and strong support to developments of major projects, such as infrastructure and connectivity in Asia.” “As you know, many countries have expressed their [...]