SEOUL, July 17 (Korea Bizwire) — The government and the ruling party on Sunday agreed to allow low-priced home owners to replace their floating rate-based borrowing with fixed ones as part of efforts to help ease their financial burden amid fast-rising borrowing costs. The decision was made at a policy consultation meeting between the government [...]
SEOUL, July 11 (Korea Bizwire) — Short-term saving products are gaining popularity as the stereotype of saving money by pouring money into deposit or installment saving products for more than one year has lost appeal. KakaoBank Corp., a South Korean internet-only bank, released the ’26 week-long installment saving product’ in June 2018, and the number [...]
SEOUL, July 5 (Korea Bizwire) — Loans issued to seniors over 60 years of age from insurance companies jumped last year, a lawmaker said Monday, citing data from the Financial Supervisory Service. Loans taken out by seniors over 60 years of age from insurance companies reached 11.16 trillion won (US$8.55 billion) as of late December [...]
SEOUL, May 20 (Korea Bizwire) — South Korean card company Hyundai Card Corp. said Friday that Taiwan’s Fubon Financial Holding Co. emerged as its No. 3 shareholder with a 19.98 percent stake. Fubon Life Insurance Co., the insurance leg of Fubon Financial, bought a 9.99 percent stake this month following Fubon Bank’s purchase of 9.99 [...]
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. [...]
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 [...]
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 [...]
SEOUL, Sept. 8 (Korea Bizwire) — The number of individual savings accounts (ISAs) offered by local securities firms has soared this year following a rule change that allows holders to invest in equities, data showed Wednesday. A total of 1.29 million people held ISAs at brokerage houses as of the end of July this year, [...]
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 [...]
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 [...]