SEOUL, Feb.10 (Korea Bizwire) – With drones at the center of attention as a future growth industry, insurance companies are preparing for serious competition to take the lead in the blue ocean which is insurance for drones. The increasing attention given to drones themselves has provoked interest in the possibility of drone accidents, and indemnity [...]
SEOUL, Feb.1 (Korea Bizwire) – Data indicates that half of all Korean internet users plan to use O2O (Online to Offline) services related to everyday life, such as food delivery and booking accommodation services, as well as fintech services including simple payments and money transfers. On the other hand, users seem skeptical about using O2O [...]
SEOUL, Feb.1 (Yonhap) – South Korea plans to introduce an omnibus account system for foreign traders to help boost their convenience in trading stocks on the Korean bourse, the financial regulator said Sunday. The envisioned program is also expected to help get its stock market included on the Morgan Stanley Capital International (MSCI) advanced market [...]
SEOUL, Jan.29 (Korea Bizwire) – Two leading tech giants, Apple and Facebook, seem to be in different leagues given their recent performance. With demand for smartphones on the wane, industry watchers even predicted a quarter of negative growth for Apple. On the other hand, Facebook is performing far better than market expectations. On January 27, [...]
SEOUL, Jan. 13 (Korea Bizwire) – The State Bank of India (SBI), the southern Asian country’s No. 1 commercial bank, said Wednesday it opened a branch in Seoul in line with growing exchanges between the two nations. The branch, located in downtown Seoul, is the Indian bank’s first in South Korea, though the institution set [...]
SEJONG, Jan. 8 (Korea Bizwire) - South Korea’s finance minister nominee said Friday that he has no plan to tighten a set of eased mortgage regulations amid rising public demand to tackle mounting household debt. The government eased the loan-to-value (LTV) and the debt-to-income (DTI) rules in August 2014, shortly after the inauguration of Finance Minister [...]
SEOUL, Jan. 7 (Korea Bizwire) – The South Korean economy, which has been struggling with exports and flaccid domestic demand over the past year, is facing a triple whammy of weakening growth in China, geopolitical uncertainties surrounding North Korea and stubbornly weak international crude prices, watchers said Thursday. South Korea’s economy, which was rocked by [...]
SEOUL, Jan. 7 (Korea Bizwire) - South Korea’s top financial regulator on Thursday stressed the need for careful risk management to maintain financial stability in the face of resurfacing geopolitical risks and external uncertainties. Financial Services Commission (FSC) Chairman Yim Jong-yong made the remarks at a meeting held with officials from relevant government agencies and experts [...]
SEOUL, Jan. 7 (Korea Bizwire) – South Korea’s central bank head will attend a bimonthly meeting of central bank governors from around the world, where they will exchange views on the latest financial market conditions, the Bank of Korea (BOK) said Thursday. BOK Gov. Lee Ju-yeol will head to Basel, Switzerland, on Friday for the [...]
SEOUL, Jan. 7 (Korea Bizwire) – An interest rate hike of just 0.25 percentage points will likely cause the household debt service burden to rise by 1.9 trillion won (US$1.6 billion) per year, hurting consumer spending and affecting overall growth, the central bank said Thursday. In a report submitted to Rep. Park Won-suk of the [...]