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Retail Investors with Shares in Foreign Luxury Brands Enjoy Higher Returns

Retail Investors with Shares in Foreign Luxury Brands Enjoy Higher Returns

SEOUL, Dec. 31 (Korea Bizwire) — Retail investors who bought shares of foreign luxury brands such as Hermes, Louis Vuitton and Gucci enjoyed higher returns this year. According to data from the Korea Securities Depository, the most net-bought stock by domestic individual investors among those listed on the French stock market was Hermes International SCA. [...]

Corporate Retirement Pension Funds Gain 16.1 pct in 2020

Corporate Retirement Pension Funds Gain 16.1 pct in 2020

SEJONG, Dec. 23 (Korea Bizwire) — Corporate retirement pension funds under management expanded more than 16 percent in 2020 from a year earlier as the system has taken root here, government data showed Thursday. Cumulative corporate retirement pension funds stood at 255 trillion won (US$214 billion) as of end-December last year, up 16.1 percent from [...]

‘Recession-Type’ Credit Cards Enjoy Rising Popularity amid Prolonged COVID-19 Pandemic

‘Recession-Type’ Credit Cards Enjoy Rising Popularity amid Prolonged COVID-19 Pandemic

SEOUL, Dec. 8 (Korea Bizwire) — Amid dampened consumer sentiment caused by the COVID-19 pandemic, ‘recession-type’ credit cards that offer generous rewards in return for a low annual fee and minimal usage record are enjoying rising popularity. According to the credit card comparison website CardGorilla, half of the 10 most popular credit cards among those [...]

Electronic Payments Hit Record High in 2020 amid Pandemic

Electronic Payments Hit Record High in 2020 amid Pandemic

SEOUL, March 29 (Korea Bizwire) – The amount of payments made electronically hit a record high last year, central bank data showed Monday, as the COVID-19 pandemic prompted people to engage in contact-free commerce. The daily average amount of electronic financial transactions came to 705.5 billion won (US$624 million) in 2020, up 32.7 percent from [...]

Loans to Accommodation, Food Services Sectors Jump amid Resurgence of Virus

Loans to Accommodation, Food Services Sectors Jump amid Resurgence of Virus

SEOUL, Nov. 16 (Korea Bizwire) — Loans to accommodation and food services sectors have jumped due to a recent resurgence of the novel coronavirus, central bank data showed Monday. Outstanding loans to lodging and eating businesses totaled 71.1 trillion won (US$64.2 billion) as of September, up 21.5 percent from a year ago, according to the [...]

Overseas Card Spending Dips by Most in Over 2 Decades in Q2 amid Pandemic

Overseas Card Spending Dips by Most in Over 2 Decades in Q2 amid Pandemic

SEOUL, Aug. 27 (Korea Bizwire) — South Koreans’ overseas card spending dropped by the most in more than two decades in the second quarter on a sharp decline in the number of outbound travelers amid the COVID-19 pandemic, central bank data showed Thursday. The amount of money spent overseas by Koreans with cards, including credit [...]