SEOUL, Dec. 28 (Korea Bizwire) – South Korean Bitcoin investors have been left fuming after the government hinted at shutting down cryptocurrency exchanges, with some threatening to stage a guerrilla protest in Seoul. The government’s U-turn on cryptocurrency, which could see exchanges and accounts banned in the future, has taken many by surprise, with some [...]
DAEJEON, Dec. 27 (Korea Bizwire) – The number of patent applications pertaining to electronic money have risen dramatically in the past few years, according to the Korean Intellectual Property Office (KIPO). Last year, KIPO received 79 applications, an eightfold increase from 2013′s nine, and through October this year, 149 applications were registered. Also referred to [...]
SEOUL, Dec. 27 (Korea Bizwire) – A surge in life insurance cancellations in the past five years is one symptom of the economic downturn and financial hardships faced by South Korean households. Provided by the Korea Life Insurance Association (KLIA), records show there were 6.59 million life insurance policy cancellations last year, 54.1 percent more [...]
SEOUL, Dec. 27 (Korea Bizwire) — More than three out of every 10 South Korean workers have invested in cryptocurrencies to make a quick buck, a recent survey showed Wednesday. Of the 941 salaried people questioned, 31.3 percent have invested in virtual currencies, according to the survey conducted by online job portal Saramin. The average [...]
SEOUL, Dec. 27 (Korea Bizwire) — Samsung Electronics Chairman Lee Kun-hee has seen the value of his stock assets rise by nearly 4 trillion won (US$3.7 billion) this year thanks to a rally of the tech giant on the local bourse, a market tracker said Wednesday. According to CEO Score, Lee, who has been hospitalized [...]
SEOUL, Dec. 26 (Korea Bizwire) — Total assets held by South Korea’s private insurers surpassed the 1,000 trillion won (US$926 billion) mark in 2016, 94 years after the first firm started operations, industry data showed Monday. The 2016 insurance statistical yearbook released by Korea Insurance Development Institute, showed combined assets held by local insurance agencies [...]
SEJONG, Dec. 26 (Korea Bizwire) – South Korea’s key industries, including the auto and shipbuilding sectors, suffered a sharp drop in exports last year, but the country logged a decent trade surplus due to a dip in oil prices, data showed Tuesday. According to the data compiled by Statistics Korea, the country’s exports reached US$494.3 [...]
SEOUL, Dec. 26 (Korea Bizwire) – A credit card points for Bitcoin swap service currently offered by KB Kookmin Card and Shinhan Card is on its last legs, as the respective firms have decided to shutter the service in January. KB Kookmin Card and Shinhan Card points can be redeemed for Bitcoins at cryptocurrency exchange [...]
SEOUL, Dec. 22 (Korea Bizwire) – South Korea will issue its non-professional employment visa to 56,000 foreign workers next year, the same figure set for this year’s quota, government officials said Friday. The government committee on foreign workforce policy finalized its plan for the 2018 E-9 visa quota during its 25th session presided over by [...]
SEOUL, Dec. 22 (Korea Bizwire) — South Korea’s central bank said Friday that it has selected 12 banks, including six foreign banks, as the lenders responsible for setting prices for direct won-yuan transactions. The Bank of Korea said the lenders will also be charged with taking the lead in providing liquidity to the market. The [...]