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 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 [...]
SEOUL, March 21 (Korea Bizwire) - Mirae Asset Securities Co. is considering joining a bid to take over Hyundai Securities, industry sources said Sunday. Emboldened by the acquisition of Daewoo Securities from Korea Development Bank, Mirae may join hands with LK Investment Partners, a local private equity fund (PEF). If realized, it would jolt the competition that has [...]
SEOUL, March 4 (Korea Bizwire) – South Korea’s policy lender Korea Development Bank (KDB) has established a partnership with an asset management affiliate of the World Bank Group to jointly develop new investment opportunities in Asia, the bank said Friday. A memorandum of understanding for a business partnership between the KDB and the International Financial [...]
SEOUL, March 4 (Korea Bizwire) – Samsung Electronics Co. said Friday it has reached an agreement to include the U.S.-based bank Wells Fargo & Company in its mobile payment platform, speeding up efforts to promote Samsung Pay. Following the partnership, Samsung Pay users can make purchases using their Wells Fargo accounts. The South Korean tech giant earlier [...]
SEOUL, March 2 (Korea Bizwire) – A Korean government agency has ruled that suicide committed after long term depression should be considered as ‘suicide caused by disaster’, and accidental death benefits should be paid by insurance companies. The Consumers Dispute Settlement Commission (CDSC) in the Korea Consumer Agency ruled that accidental death benefits should be [...]