SEOUL, July 28 (Korea Bizwire) — South Korea’s financial authority said Wednesday it plans to expand the ecosystem of the so-called open banking platform by inviting users of fintech services, allowing more people to enjoy simpler financial transactions. South Korea launched the open banking service in 2019, which centers on allowing customers to use any [...]
SEOUL, July 27 (Korea Bizwire) — South Korean internet-only bank Kakao Bank Corp. drew a tepid response from retail investors for its initial public offering (IPO), with deposits for the stock offering at a smaller-than-expected 58.3 trillion won (US$50.5 billion), according to its IPO managers Tuesday. During the two-day subscription, the subscription rate stood at [...]
SEOUL, July 23 (Korea Bizwire) — South Korean credit card companies are pushing to collaborate with K-pop agencies to launch customized products for fans who are becoming increasingly important customers across most industries. Earlier this week, credit card giant BC Card released a new product with K-pop giant YG Entertainment. Dubbed the “BLACKPINK Card,” the [...]
SEOUL, July 22 (Korea Bizwire) — Hyundai Engineering & Construction Co., a major builder in South Korea, said Wednesday that in collaboration with Hyundai Motor Group, it will introduce a ‘Home to Car – Car to Home’ service using built-in sound recognition devices. The service uses Hyundai E&C’s ‘Voice Home’ built-in sound recognition system that [...]
SEOUL, July 20 (Korea Bizwire) — Kakao Bank, South Korea’s largest internet-only bank, will seek to expand into new business areas and become the country’s No. 1 financial platform, the company’s CEO said Tuesday. “Kakao Bank will strive to emerge as the top financial platform and break into such areas as insurance, fund and asset [...]
SEOUL, July 15 (Korea Bizwire) — The trading volume of South Korea’s gold market soared in the first half this year, largely as pandemic-incurred uncertainties boosted individuals’ demand for safe assets, the local exchange said Thursday. The average daily trading volume of gold in the Korea Exchange (KRX) jumped 19.4 percent on-year to 126.2 kilograms [...]
SEOUL, July 14 (Korea Bizwire) — Artificial intelligence (AI) technology is increasingly being employed in a wide range of areas in the construction industry. Major South Korean builder DL E&C Co. recently developed and filed a patent application for AI design technology in which AI automatically produces about 1,000 different types of design drawings for [...]
SEOUL, July 7 (Korea Bizwire) — South Korean real estate investment trusts (REITs) saw their assets jump nearly 22 percent in 2020 from a year earlier amid a robust property market, government data showed Wednesday. A total of 282 REITs had some 63 trillion won (US$55.5 billion) in combined assets as of the end of [...]
SEOUL, July 7 (Korea Bizwire) — South Korea’s major credit card companies have been releasing a series of private label credit cards (PLCCs) in their bid to secure members of the MZ generation as loyal customers. Shinhan Card Co. has released five different types of PLCCs thus far under partnerships with Swedish furniture giant IKEA, [...]
SEOUL, July 1 (Korea Bizwire) — K-Bank, South Korea’s first internet-only bank, said Thursday its customers and deposits grew sharply in the second quarter of the year amid the coronavirus outbreak. The number of customers stood at 6.19 million as of the end of June, 2.28 million more than three months earlier, the lender said, [...]