SEOUL, Aug. 29 (Korea Bizwire) — An increasing number of financial institutions are replacing redundant work with automation robots to improve work efficiency. The Korea Technology Finance Corp. (KOTEC) is applying Robotic Process Automation (RPA) technology for its entire in-house operations. The KOTEC introduced RPA in 2019 and started automation from simple clerical work such [...]
SEOUL, Aug. 26 (Korea Bizwire) — South Korean overseas direct purchasers are turning towards Japan to enjoy more affordable prices amid the yen’s prolonged weakness. Shinhan Card Co., a major South Korean credit card company, said the number of settlements made by its customers for overseas direct purchases from Japan during the first seven months [...]
SEOUL, Aug. 26 (Korea Bizwire) — South Korea’s major advertising agencies are ramping up non-fungible token (NFT) ventures in a bid to develop new growth engines. Cheil Worldwide Inc., the advertising arm of Samsung Group, said Thursday it had signed a memorandum of understanding with U.S.-based NFT marketplace CYPHRLY, a subsidiary of South Korea’s leading [...]
SEOUL, Aug. 25 (Korea Bizwire) — Apartments in taller buildings are more expensive in the greater Seoul area, a real estate big data company said Wednesday. Real Estate R114 made a price comparison of 3,403,812 apartments in the greater Seoul area sorted by floor, which showed that the average apartment price in buildings that are [...]
SEOUL, Aug. 25 (Korea Bizwire) — South Korea will seek a joint response with the European Union over the U.S. Inflation Reduction Act that excludes electric vehicles assembled outside of North America from tax incentives, the industry ministry said Thursday. The law, signed by U.S. President Joe Biden last week, calls for the expansion of [...]
SEOUL, Aug. 24 (Korea Bizwire) — South Korean retail investors’ bond purchases have surged this year as they seek safe-haven assets amid rising interest rates and a bearish stock market, data showed Wednesday. Local individual investors had bought a net 10.2 trillion won (US$7.6 billion) worth of bonds over the counter this year as of [...]
SEOUL, Aug. 24 (Korea Bizwire) — The number of new property developer registrations reached an all-time high in the first half of this year despite the real estate market’s entry into an adjustment phase, thanks to rising demand for the development of non-residential buildings, including shopping centers. According to the Ministry of Land, Infrastructure and [...]
SEOUL, Aug. 23 (Korea Bizwire) — South Korea’s financial regulator said Tuesday that the recent disclosure of local banks’ lending-deposit interest rate differences will enhance transparency in their operation and provide customers with better choices in selecting products. Starting Sunday, the Korea Federation of Banks started to allow visitors on its website to know and [...]
SEOUL, Aug. 23 (Korea Bizwire) — Insurance agencies and planners have voiced strong opposition to big tech companies’ entry into the insurance sales business, criticizing it as an infringement of their commercial rights. The Insurance Agency Association and the Labor Union Solidarity for Insurance Planners held a joint press conference in front of the presidential [...]
SEOUL, Aug. 22 (Korea Bizwire) — South Korea’s nationwide consumer prices rose at the fastest pace in 24 years in the second quarter of the year on soaring energy and food costs, data showed Monday. The national consumer price index came to 107.54 in the April-June period, up 5.4 percent from a year earlier, according [...]