SEOUL, April 1 (Korea Bizwire) – Prime Minister Hwang Kyo-ahn on Friday encouraged more couples to have smaller and more frugal weddings, saying that an extravagant event imposes huge financial burdens on young people. “People should embrace a culture that promotes frugal yet meaningful weddings,” Hwang said during a luncheon with five newlywed couples at his [...]
SEOUL, March 30 (Korea Bizwire) – The amount of money spent through electronic payment services increased more than 13 percent last year. According to the Bank of Korea, the average amount of money provided to electronic payment services by electronic financial business operators and banks reached an average of 252.4 billion won per day. The [...]
SEOUL, March 29 (Korea Bizwire) – Samsung Electronics Co. said Tuesday it has launched its mobile payment service Samsung Pay in China, speeding up efforts to expand the scope of its flagship mobile payment platform. The South Korean tech giant said Chinese users of high-end Galaxy smartphones can now use Samsung Pay in cooperation with China-based bank card [...]
SEOUL, March 29 (Korea Bizwire) – South Korean credit and debit card spending jumped 8.8 percent last year from a year earlier as consumers increasingly favor using cards both for small-sized daily settlements and big tax payments, government data showed Tuesday. The card-based expenditure reached 667.1 trillion won (US$572 million) in 2015, up from 613.2 [...]
SEOUL, March 28 (Korea Bizwire) – On March 23, Samsung Group executives took part in a lecture given by a renowned mathematician. Park Hyung-ju, a professor at Aju University and head of the National Institute of Mathematical Sciences, was invited to Samsung’s headquarters in Seocho to present a lecture on the history and importance of mathematics. Professor [...]
SEOUL, March 25 (Korea Bizwire) – South Korea’s per capita income dropped in 2015 from the previous year, marking the first on-year drop in six years even though the decline was largely attributed to the depreciation of the local currency against the U.S. dollar. In 2015, the country’s per capita gross national income (GNI) came to [...]
SEOUL, March 25 (Korea Bizwire) – Netmarble Games, South Korea’s No. 1 mobile game developer and publisher, is expected to seek listing on the country’s main bourse instead of on the tech-heavy KOSDAQ or overseas, sources said Friday. The company’s market capitalization is estimated at approximately 10 trillion won (US$8.57 billion), putting it nearly on par [...]
SEOUL, March 23 (Korea Bizwire) – Government officials have announced the adoption of a new electronic bond system. Using the new method, ownership can change hands without any the completion of any physical paperwork, as the securities are electronically registered. The Korea Securities Depository (KSD) announced that the bill regarding electronic registration of securities and bonds [...]
SEOUL, March 23 (Korea Bizwire) – South Korea’s top asset manager Mirae Asset Financial Group said Wednesday it will not bid for Hyundai Securities Co. to focus on completing its latest takeover deal, leaving KB Financial Group and Korea Investment Holdings Co. as strong candidates in the final auction scheduled for this Friday. Mirae Asset has [...]
SEJONG, March 22 (Korea Bizwire) – Global rating agency Moody’s Investors Service said Tuesday that it maintains its rating on South Korea at a record high of Aa2, citing its sound economic fundamental and reduced vulnerability to external risks, with its rating outlook also remaining stable. But the escalating tension stemming from North Korea’s recent provocations [...]