SEOUL, January 30 (Korea Bizwire) – Digital disruption and cutthroat competition are shaking up the banking industry, with thousands of employees making the transition away from financial services jobs that were long considered as some of the most lucrative in Korea. The emergence of the fintech revolution leaves the prospects for the banking industry uncertain. [...]
SEJONG, Jan. 29 (Korea Bizwire) – Crowdfunding fared well last year when the idea of raising money from a large number of people made its debut in Korea. The success rate in funding through this alternative way of raising money reached nearly half of overall funding rounds with about 18 billion Won being raised. According [...]
SEOUL, Jan. 30 (Korea Bizwire) – The sales of non-life insurance products via the Internet soared last year, as local insurance firms rushed to roll out cheap and online-only products to woo customers, data showed Monday. According to the General Insurance Association of Korea, local non-life insurance companies raised a total of 1.4 trillion won [...]
SEOUL, Jan. 29 (Korea Bizwire) – A corporate tracker said Friday that the number of people aged under 30 whose shareholding value surpassed 10 billion won (US$8.5 million) came to 52. Chaebul.com said the combined shareholding value of the 52 people stood at more than 1.7 trillion won. On average, the individual shareholding value [...]
CHEONGJU, South Korea, Jan. 25 (Korea Bizwire) – The Korean Lunar New Year holiday starts Friday, and it usually means good news for children and young adults who visit their grandparents, aunts, and uncles for a bow in exchange for “lucky money”, cash gifts handed out as a token for a fruitful New Year. A [...]
SEOUL, Jan. 25 (Korea Bizwire) – South Korean companies tend to work with the same accounting firm for a long period of time, an analysis showed Wednesday, a practice partly blamed for corroborated cover-ups of financial troubles that later blow up in damaging losses for lenders and investors. The analysis by corporate watcher CEO Score [...]
SEOUL, Jan. 25 (Korea Bizwire) – South Korea’s economy grew at a slower pace in the fourth quarter than three months earlier on decreased demand and construction investments, central bank data showed Wednesday. In the October-December period, the country’s gross domestic product rose 0.4 percent from the previous quarter, decelerating from a 0.6 percent on-quarter [...]
SEJONG, Jan. 23 (Korea Bizwire) – The number of unemployed people, when the definition is increased to include those who are studying or training to get a job, reached 4.53 million last year, state statistics showed Monday. While the official number of unemployed last year was 1.01 million, the “real” number that counts these people [...]
SEOUL, Jan. 23 (Korea Bizwire) – Most can only dream of being issued an American Express Centurion Card, better known as the Amex “Black Card.” Korean credit card companies also offer similar cards for high net worth individuals, with expensive annual fees and high minimum spending requirements offset by a host of exclusive benefits. In [...]
SEOUL, Jan. 23 (Korea Bizwire) – South Korea is pushing to revise its national health insurance program to halve the fees for low income earners in an effort to make health care more affordable, officials said Monday. The Ministry of Health and Welfare released a revision to the national health insurance system, subject to parliamentary [...]