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Investors Park More Money in Overseas Funds in Search of High Returns

Investors Park More Money in Overseas Funds in Search of High Returns

SEOUL, Jan. 14 (Korea Bizwire) — South Korea’s overseas investment funds almost doubled in terms of net asset value to account for nearly 30 percent of the country’s investment funds last year, as investors bet on higher yields outside the bearish domestic market, data showed Tuesday. According to the data by the Korea Financial Investment [...]

S. Korean Wealth Creators Accumulate 1.57 bln Won Until Retirement

S. Korean Wealth Creators Accumulate 1.57 bln Won Until Retirement

SEOUL, Jan. 14 (Korea Bizwire) — South Korean wealth creators accumulate an average of 1.57 billion won (US$1.4 million) through savings and investment, a recent study revealed. Standard Chartered Bank Korea Ltd., the local unit of Britain-based banking giant Standard Chartered PLC., joinly conducted a survey of 1,000 wealth creators in Seoul and Busan. They [...]

Securities Firms Make Inroads in Retirement Pension Market

Securities Firms Make Inroads in Retirement Pension Market

SEOUL, Nov. 15 (Korea Bizwire) — Local securities firms are moving quickly to preempt the emerging retirement pension market as a future growth engine. The government will push for the mandatory introduction of retirement pensions through a legal revision, while introducing a retirement pension fund for small and medium-sized companies. The plan is aimed at [...]

Hyundai Card to Launch First Overseas Operation in Vietnam

Hyundai Card to Launch First Overseas Operation in Vietnam

SEOUL, Oct. 29 (Korea Bizwire) — Hyundai Card, a leading credit card issuer in South Korea, has agreed to launch a joint venture in Vietnam in its first direct overseas investment, the company said Tuesday. The company has signed an agreement to purchase a 50 percent stake in Vietnam’s Finance Company Limited for Community (FCCOM) [...]

Investors Eye Risks of Betting on Hong Kong-tied Equity Trusts

Investors Eye Risks of Betting on Hong Kong-tied Equity Trusts

SEOUL, Oct. 14 (Korea Bizwire) — High-risk financial instruments that are designed to bet on Hong Kong’s stock market need to be carefully monitored amid concerns about potential losses, as massive democracy protests there have wobbled financial markets, an industry source said Monday. At the end of September, the outstanding amount of equity-linked trusts (ELTs) [...]

Personal Bankruptcies on the Rise Among Young S. Koreans

Personal Bankruptcies on the Rise Among Young S. Koreans

SEOUL, Oct. 7 (Korea Bizwire) — Fewer South Koreans are filing for personal bankruptcy, with the notable exception of those in their 20s, the only age group for which bankruptcies are actually increasing. The Supreme Court reported to Rep. Kim Byung-wook that the number of personal bankruptcies among 20-somethings increased from 691 cases in 2015 [...]

Bank of Korea to Introduce Service to Receive Change via Bank Account

Bank of Korea to Introduce Service to Receive Change via Bank Account

SEOUL, Oct. 4 (Korea Bizwire) — The Bank of Korea (BOK) announced plans to introduce a new service this year that will allow citizens to receive change through their bank account as part of its ‘coinless society’ initiative. “We will introduce a new service by the fourth quarter of this year that will allow customers [...]