SEOUL, Jan. 28 (Korea Bizwire) — A bill has recently been proposed to consider pet insurance as equivalent to human insurance plans, raising new controversies as to how pets are to be identified in insurance programs. The bill, proposed by Rep. Kim Byung-wook of the ruling Democratic Party, intends to consider pet insurance plans as [...]
SEOUL, Jan. 24 (Korea Bizwire) — The Bank of Korea said Thursday it has issued over 6 trillion won (US$5.15 billion) worth of fresh banknotes ahead of the Lunar New Year holiday that starts on Friday. The move apparently comes in preparation for high demand for fresh bills due to the long-lived tradition of elders [...]
SEOUL, Jan. 23 (Korea Bizwire) — Research reports published by securities firms are decreasing in line with changes in the business environment in the securities industry. The number of research reports published by securities firms based on financial information provider FnGuide’s tally dropped from a high of 95,215 in 2013 to 76,694 in 2018. In [...]
SEOUL, Jan. 20 (Korea Bizwire) — The number of stock trading accounts in South Korea is expected to surpass 30 million soon on the back of the rising popularity of mobile stock trading and a bull run in overseas markets, data showed Monday. According to the data by the Korea Financial Investment Association (KOFIA), 29.45 [...]
SEOUL, Jan. 17 (Korea Bizwire) — Funds that invest in overseas assets such as stocks will see steady growth this year after a stellar performance last year, as investors park more money in such vehicles, market sources said Friday. Overseas investment funds under management in South Korea almost doubled to 183.7 trillion won (US$158.8 billion) [...]
SEOUL, Jan. 16 (Korea Bizwire) — Insurance plans for Alzheimer’s disease have jumped in sales after the illness gained public interest in recent months. The Korea Credit Information Services reported on Wednesday that the number of applications for Alzheimer’s insurance plans reached 1.3 million early last year, up threefold since the second half of the [...]
SEOUL, Jan. 15 (Korea Bizwire) — The number of banknotes and coins destroyed due to damage or contamination reached a 10-year high in 2019, with the face value of the damaged bills and coins growing slightly from a year earlier, the central bank said Wednesday. The Bank of Korea (BOK) said it had to replace [...]
SEOUL, Jan. 14 (Korea Bizwire) — South Korea’s overseas investment funds almost doubled in terms of net asset value to account for nearly 30 percent of the country’s investment funds last year, as investors bet on higher yields outside the bearish domestic market, data showed Tuesday. According to the data by the Korea Financial Investment [...]
SEOUL, Jan. 14 (Korea Bizwire) — South Korean wealth creators accumulate an average of 1.57 billion won (US$1.4 million) through savings and investment, a recent study revealed. Standard Chartered Bank Korea Ltd., the local unit of Britain-based banking giant Standard Chartered PLC., joinly conducted a survey of 1,000 wealth creators in Seoul and Busan. They [...]
SEOUL, Jan. 13 (Korea Bizwire) –- Major South Korean cosmetics and duty-free operators traded higher Monday amid hopes that China may lift its retaliatory economic measures under way for years against Seoul’s decision to deploy a U.S. anti-missile system here. Amorepacific Corp., the country’s top cosmetics maker, closed at 232,000 won(US$200), up 5.22 percent from [...]