SEOUL, Oct. 31 (Korea Bizwire) – The number of employees in the financial sector has declined in 16 consecutive months, mainly driven by the fast expanding usage of FinTech, lowering demand for conventional employees such as bank tellers. According to a recent report from the Ministry of Employment & Labor, the number of employees in [...]
SEOUL, Oct. 25 (Korea Bizwire) – An over-the-counter stock market for promising startups will open in South Korea in November to help them raise funds more easily and offer investors a chance to buy their shares, the bourse operator said Tuesday. The Korea Exchange (KRX) said the stock market, named the KRX Startup Market (KSM) [...]
SEOUL, Oct. 24 (Korea Bizwire) – South Korea announced Monday it will lay the systemic groundwork for the spread of digital currency as part of efforts to promote financial technology, also called fintech. “The government will push for the systematization of digital currency on a full scale in tandem with a global trend in the [...]
SEOUL, Oct. 19 (Korea Bizwire) – South Korea’s stock market operator said Wednesday it has signed a contract with its Vietnamese counterpart to set up the IT infrastructure for the Southeast Asian nation’s equity trading. Under the deal with the Hochiminh Stock Exchange (HoSE), the Korea Exchange (KRX) will offer a set of programs based [...]
SEOUL, Sept. 28 (Korea Bizwire) – The Korean stock market was very much affected by the first U.S. presidential debate, and was clearly in favor of Democratic candidate Hillary Clinton. Korea’s representative KOSPI index opened Tuesday with doubts over the first debate, but with Clinton gaining strength against Donald Trump as the debate progressed, the [...]
SEOUL, Sept. 2 (Korea Bizwire) – The head of South Korea’s financial watchdog on Friday called for local financial services firms to beef up security-related measures for their fast-developing fintech operations. “Responsible innovation is needed in the financial industry,” Financial Supervisory Service (FSS) Governor Zhin Woong-seob said in a forum hosted by the Korea Institute [...]
SEOUL, Sept. 1 (Korea Bizwire) – The government plans to allow financial service companies here to share the personal information of their customers for big data collection purposes while keeping their names and other details undisclosed, the top financial regulator said Thursday. The measure would pave the way for banks, insurers, securities firms, fintech operators [...]
SEOUL, Aug. 12 (Korea Bizwire) – Iris scanning is no longer something from the future, or a mundane cliché technology from a sci-fi movie. With Samsung Electronics introducing a form of the technology in its latest flagship phablet, the Galaxy Note 7, it’s clear that a new era of personal identification is here. Boasting its [...]
SEOUL, Aug. 9 (Korea Bizwire) – South Korean investors have been putting a large amount of money in high-return bond funds amid weak economic growth this year, with stock funds suffering a massive outflow, data showed Tuesday. According to the data by fund researcher Zeroin, local investors added a net 5.87 trillion won (US$5.3 billion) [...]
SEOUL, Aug. 5 (Korea Bizwire) — Hedge funds in Korea (private equity funds usually available to those with significant financial resources) are attracting wealthy investors – leading to a surging market. A hedge fund is an investment in a variety of assets, with limited regulations, that often generate higher returns than other investment products with similar [...]