SEOUL, Feb.16 (Korea Bizwire) – Apple’s Apple Pay mobile payment service will launch in China on February 18. Samsung is hoping to follow shortly with its Samsung Pay service, and is currently wrapping up negotiations with Chinese partners, adding a sense of tension to the Chinese mobile payment market. According to Chinese media, Apple Pay [...]
SEOUL, Feb.10 (Korea Bizwire) – The number of households having trouble paying off their debts due to a lack of income is increasing. According to data issued by the Bank of Korea (BOK), the number of households with limited financial ability was 1,580,000 in March 2015, which was 14.7 percent of the 10,720,000 households with [...]
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 [...]