Finance & Economy Archives | Page 2 of 203 | Be Korea-savvy

Archive by category Finance & Economy

Brokerages Further Cut Q1 Corporate Earnings Estimate

Brokerages Further Cut Q1 Corporate Earnings Estimate

SEOUL, Apr. 24 (Korea Bizwire) — South Korean brokerages have cut their forecasts for the first-quarter operating profits of major listed firms by 33 percent since earlier this year, as the companies are expected to feel the pinch of slowing global demand and the U.S.-China trade dispute, a market researcher said Wednesday. Brokerages expected 136 [...]

National Pension Beneficiaries See Big Drop in Purchasing Power After Retirement

National Pension Beneficiaries See Big Drop in Purchasing Power After Retirement

SEOUL, Apr. 23 (Korea Bizwire) — The Hana Institute of Finance, a research unit of Hana Financial Group Inc., has suggested in its “Report on the Retirement Life of South Korean National Pensioners” published on Monday that nearly half of the recipients of the national pension plan see a 50 percent drop in their purchasing [...]

Jeju Construction Companies Facing Crisis with More than 1,200 Homes Unsold

Jeju Construction Companies Facing Crisis with More than 1,200 Homes Unsold

JEJU, Apr. 23 (Korea Bizwire) — Construction companies are facing the consequences of the decline in the real estate market on Jeju Island, as an increasing number of houses are sitting empty without buyers. Jeju Province announced on Monday that as many as 1,271 residences were left unsold this year. The number of unsold homes [...]

Internet-only Banks Most Popular Among White-collar Workers

Internet-only Banks Most Popular Among White-collar Workers

SEOUL, Apr. 22 (Korea Bizwire) — A recent study revealed that people who make an average monthly salary of between 4-5 million won (US$3,500-4,400) form the largest group to use internet-only banks, and that white-collar workers are relatively more dependent on these types of financial institutions. The Korea Information Society Development Institute announced on Sunday [...]

Banks to Fully Open Payment Network to Fintech Firms in December: Official

Banks to Fully Open Payment Network to Fintech Firms in December: Official

SEOUL, Apr. 15 (Korea Bizwire) — Banks in South Korea will fully open their payment network to fintech firms in December, officials said Monday, in a fresh effort to encourage development of new payment services and greater competition in the financial sector. Currently, only banks can access the payment network, but even banks are allowed [...]

KB Kookmin Bank Introduces Palm Vein Recognition Service for Cash Withdrawals

KB Kookmin Bank Introduces Palm Vein Recognition Service for Cash Withdrawals

SEOUL, Apr. 15 (Korea Bizwire) — South Korean lender KB Kookmin Bank has introduced a new service that allows customers to make withdrawals through hand recognition, instead of having to use a bankbook, stamp or password. The bank announced on Sunday that customers will now be able to make withdrawals at the counter using palm [...]

Foreigners’ Appetite for Korean Stocks Growing on Hope for U.S.-China Trade Talks, Chip Industry

Foreigners’ Appetite for Korean Stocks Growing on Hope for U.S.-China Trade Talks, Chip Industry

SEOUL, Apr. 10 (Korea Bizwire) — Foreign investors have been increasing their buying of South Korean shares in recent sessions, data showed Wednesday, amid optimism, albeit cautious, over the chip industry and progress in U.S.-China trade deals. According to the data compiled by the Korea Exchange (KRX), foreign investors extended their buying binge to eight [...]

Hyundai Card Launches AI ARS Service at Customer Center

Hyundai Card Launches AI ARS Service at Customer Center

SEOUL, Apr. 5 (Korea Bizwire) — Hyundai Card Co., a local credit card firm, said Friday that it has introduced an artificial intelligence-based counseling service in its customer center. The AI automatic response system (ARS) listens to clients’ desired service and provides them with appropriate counseling with no waiting time, according to the company. It [...]

Two Years On, Internet-only Banks Bring About Changes to Financial Sector

Two Years On, Internet-only Banks Bring About Changes to Financial Sector

SEOUL, Apr. 5 (Korea Bizwire) — In the two years since the launch of the country’s first Internet-only bank, South Korea’s banking sector has moved towards digitalization to better satisfy customers’ growing appetite for convenient and diverse financial experiences. As new Internet-only banks get ready to set sail next year, competition in the industry is [...]