Finance & Economy Archives | Page 2 of 127 | Be Korea-savvy

Archive by category Finance & Economy

Report Says Korea Should Look to UK for Autonomous Car Insurance Model

Report Says Korea Should Look to UK for Autonomous Car Insurance Model

SEOUL, March 20 (Korea Bizwire) – One of the industries that self-driving vehicles will reshape is the insurance sector, and the question of who should take responsibility in the event of an accident is still being debated in several countries, including South Korea, where autonomous vehicles are just starting to be introduced to the market. [...]

Market Cap of Foreign-Owned Stocks Tops 511 Tln Won

Market Cap of Foreign-Owned Stocks Tops 511 Tln Won

SEOUL, March 14 (Korea Bizwire) – The combined market capitalization of South Korean stocks held by foreigners has exceeded 511 trillion won (US$445 billion), hitting an all-time high, data showed Tuesday.  Foreigners have purchased a net 4.22 trillion won worth of shares here this year alone, helping drive up the benchmark index KOSPI to 2,117.59 [...]

Shinhan Bank Abolishes Paper Forms to Boost Productivity

Shinhan Bank Abolishes Paper Forms to Boost Productivity

SEOUL, March 13 (Korea Bizwire) –  South Korea’s largest financial institution, Shinhan Bank, is scrapping paper forms, and instead, going digital in an all-out effort to raise productivity. From today, all Shinhan branches will provide most banking services digitally, including applications for accounts and credit cards. Shinhan’s bold move to replace paper with digital counterparts [...]

Applicants for Street Cleaning Work Turn Out in Droves as Job Market Plunges

Applicants for Street Cleaning Work Turn Out in Droves as Job Market Plunges

GUMI, SOUTH KOREA, March 9 (Korea Bizwire) — The Gumi City government saw more than two hundred people apply for a number of public area cleaning job openings after it began taking applicants. Of the 239 candidates, nearly one hundred had a university degree or more while 131 were high school graduates. A mere 14 people [...]

Gov’t to Offer 3 Tln Won in Support for Fintech Startups

Gov’t to Offer 3 Tln Won in Support for Fintech Startups

SEOUL, March 8 (Korea Bizwire) – South Korea’s top financial regulator said Wednesday authorities will expand “systemic” support for nascent fintech firms in the country, with 3 trillion won (US$2.6 billion) earmarked for a three-year support project.  South Korea, known for its information and communication technology prowess, launched a government-led campaign in early 2015 to [...]

Funds Run by Asset Management Firms Reach Record High in 2016

Funds Run by Asset Management Firms Reach Record High in 2016

SEOUL, March 8 (Korea Bizwire) – Asset management firms in South Korea reaped record profits last year, as investors poured money into private equity funds amid low interest rates, data showed Wednesday  Assets controlled by 165 management companies reached 907 trillion won (US$788 billion) as of the end of 2016, up 10.8 percent from the [...]

Protectionism in US and China Takes Toll on South Korean Economy

Protectionism in US and China Takes Toll on South Korean Economy

SEOUL, March 7 (Korea Bizwire) – Import restrictions in the U.S. and China against South Korean products targeting steel, electronics and cosmetics are on the rise, the Korea International Trade Association said today. As of February, 23 restrictions are being imposed on Korean products exported into the US, and 13 in China. The number is up [...]