SEOUL, March. 11 (Korea Bizwire) — Sentiment is growing that the insurance industry needs to pay more attention to electric vehicle (EV) insurance products as a new channel for growth after main opposition candidate Yoon Suk-yeol was elected South Korea’s next president on Thursday. Yoon pledged that he will freeze EV charging fees over the [...]
SEOUL, March 5 (Korea Bizwire) — South Korean stock markets are expected to continue to face volatile sessions next week, largely on persistent uncertainties in Ukraine and the U.S. Federal Reserve’s stance on its monetary policy, analysts said Saturday. The benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,744.52 points Friday, up 0.14 percent [...]
SEOUL, March 3 (Korea Bizwire) — Major cryptocurrency exchanges in South Korea have blocked IP addresses from Russia in an effort to join global sanctions against Moscow over its invasion of Ukraine. Upbit, the country’s largest cryptocurrency exchange by transaction, announced Thursday withdrawal requests from Russian IP addresses could be rejected. “We’ve blocked subscriptions by [...]
SEOUL, March 2 (Korea Bizwire) — South Koreans’ use of internet banking services soared 18 percent on-year in 2021 as customers preferred non-contact services amid the coronavirus pandemic, central bank data showed Monday. The daily use of online banking services, including mobile banking, reached 17.32 million cases last year, up from 14.68 million a year [...]
SEOUL, March 2 (Korea Bizwire) — South Korean institutions’ investment in foreign securities touched a new all-time high in 2021 amid bullish overseas stock markets, central bank data showed Wednesday. The outstanding value of foreign securities held by local institutional investors stood at US$402.72 billion as of end-December last year, up $29.97 billion, or 8 [...]
SEOUL, Feb. 26 (Korea Bizwire) — South Korean stocks are expected to face highly volatile sessions next week as investors will pay keen attention to situations in Ukraine and the U.S. Federal Reserve’s updated stance on its monetary policy, analysts said Saturday. The benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,676.76 on Friday, [...]
SEOUL, Feb. 19 (Korea Bizwire) — South Korean stock markets are expected to continue to face volatile sessions next week, largely on persistent uncertainties about the U.S.-Russian military standoff over Ukraine, analysts said Saturday. The benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,744.52 points Friday, little changed from 2,747.71 points a week ago. [...]
SEOUL, Feb. 16 (Korea Bizwire) — Samsung Fire & Marine Insurance Co., South Korea’s top non-life insurer, said Wednesday it will cut its auto insurance premiums by an average 1.2 percent in April on falling loss rates. It will mark Samsung Fire & Marine Insurance’s first premium reduction since 2020, when its car insurance premium [...]
SEOUL, Feb. 16 (Korea Bizwire) — Asset management companies in South Korea have released a string of exchange traded funds (ETFs) with a focus on investment in global hydrogen companies. KB Asset Management Co., an asset management arm of KB Financial Group Inc., said Tuesday that it listed the KBSTAR Global Hydrogen Economy Indxx in [...]
SEOUL, Feb. 14 (Korea Bizwire) — Foreign investors turned net sellers of South Korean stocks in January, but their net investment in local bonds continued to expand, data showed Monday. Foreigners sold a net 1.68 trillion won (US$1.4 billion) worth of local stocks last month, compared with their net purchase of 4.36 trillion won in [...]