SEOUL, Jan. 28 (Korea Bizwire) — South Korea’s leading lenders have wrapped up their labor deals for the new year that aim to help employees better strike a balance between work and their personal lives, industry watchers said Monday. Late last week, the labor and the management of KB Kookmin Bank reached a deal on [...]
SEOUL, Jan. 25 (Korea Bizwire) — High Credit, in-house venture firm of Shinhan Card Co., announced on Thursday that it had developed a credit evaluation model for foreigners living in South Korea. The newly developed credit evaluation model has greatly increased the bank’s ability to differentiate risks by applying non-financial information through big data to [...]
SEOUL, Jan. 25 (Korea Bizwire) — Agriculture-related stocks rallied on Thursday as famous American businessman and legendary investor Jim Rogers mentioned agriculture as an area of interest. On the same day, shares of ASIA SEED Co., which produces seeds such as cabbage and sweet pumpkin, soared 29.92 percent to closed at 9,770 won. Jim Rogers [...]
SEOUL, Jan. 24 (Korea Bizwire) – South Korea’s stock market operator said Thursday it will push to introduce a rule that allows it to cancel mistakenly made share trading orders as part of efforts to better guarantee market stability and protect investors. Lee Eun-tae, chief of the KOSPI market division under the Korea Exchange (KRX), [...]
SEOUL, Jan. 24 (Korea Bizwire) — Beginning in May, those with pets will be able to make an insurance claim with an animal insurance company immediately after receiving animal care. Sung Dae-kyu, the head of the Korea Insurance Development Institute (KIDI), said at a press conference Wednesday that the ‘Pet Insurance Claims Online Processing System’ [...]
SEOUL, Jan. 23 (Korea Bizwire) — KB Kookmin Bank, a major lender in South Korea, said Wednesday that it has reached a tentative agreement with labor union workers on their wage system and other labor issues. The bank said the management and the union decided to accept an arbitration proposal prepared by the National Labor [...]
SEOUL, Jan. 16 (Korea Bizwire) — Both the volume and face value of damaged banknotes and coins found in South Korea rose to record highs last year, data from the central bank showed Wednesday. A record 627 million damaged bills and coins were discarded by the Bank of Korea (BOK) in 2018, up 4.1 percent [...]
SEOUL, Jan. 14 (Korea Bizwire) — A recent strike by employees of KB Kookmin Bank has raised controversy over idle manpower in the banking sector. Usually, when there is a strike, all operations should stop for a while, creating inconvenience to customers. However, most KB Kookmin Bank branches ran smoothly on the day of the [...]
SEOUL, Jan. 14 (Korea Bizwire) — KT Corp. and Kakao Corp. are set to begin work to raise their stakes in their own Internet-only banks — K-Bank and Kakao Bank — as a law that eases the ownership rule for web-only banks will go into effect later this week, but their plans to raise stakes [...]
SEOUL, Jan. 9 (Korea Bizwire) — About 60 percent of South Koreans say that advertisements for financial products are exaggerated, a survey showed Wednesday, underscoring customers’ mistrust towards the sector as a whole. The survey, conducted by Gallup Korea and commissioned by the Financial Services Commission (FSC), showed that 60.7 percent of the 2,194 respondents [...]