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 [...]
SEOUL, Feb.28 (Korea Bizwire) – The launch of the third stage of a new program that allows customers to transfer bank accounts with the click of a mouse saw a flood of account inquiries. According to the Korea Financial Telecommunications and Clearings Institute (KFTCI), more than 390,000 account transfer inquiries were recorded. The numbers were [...]
SEOUL, Feb. 26 (Korea Bizwire) – Choi Jung-in, a 33 year-old clinical psychologist, lived with two kittens in a studio in Seoul before the trio moved in with her parents in December. She fondly remembers her first cat, Mango, which she brought in last year, for helping her ease the feelings of loneliness when she [...]
SEJONG, Feb. 25 (Korea Bizwire) – The South Korean government will set up a consultative body comprised of state-run policy lenders and private financial firms to help local firms win more business projects launched by the Asian Infrastructure Investment Bank (AIIB), the finance ministry said Thursday. Policy lenders including the Korea Development Bank, the Korea [...]
SEOUL, Feb. 24 (Korea Bizwire) – The government plans to roll out new insurance plans reserved for electric cars around September, officials said Wednesday, in a move expected to help green car users pay less for premiums. The Ministry of Trade, Industry and Energy and the Financial Services Commission (FSC) were to sign a memorandum [...]
SEOUL, Feb.23 (Korea Bizwire) – A picture of a man’s hand holding a mobile phone shaped device that resembles a POS (point of sale) terminal, also known as a credit card machine, created a great buzz on the internet. The user who uploaded the picture on Facebook captioned the photo as a new way of [...]
SEOUL, Feb.18 (Korea Bizwire) – With the adoption of a new account transfer system and Individual Savings Accounts (ISA), banks are going all out to attract clients with various giveaways. Industry analysts note that Shinhan Bank is currently running a promotion in which customers will have a chance to win a Hyundai Avante. Clients who [...]
SEOUL, Feb.16 (Korea Bizwire) – Woori Bank announced the launch of its ‘WiBee Quick Global Wiring’ service, which links with the WiBee Talk platform and provides benefits related to exchange rates and commissions. Through WiBee Quick Global Wiring, clients can wire money directly to a foreign branch of Woori Bank without going through an intermediary [...]