SEOUL, June 6 (Korea Bizwire) — South Korean insurance companies have toughened the screening of insurance claims, resulting in growing complaints from policyholders. It has been pointed out that insurance companies are now using on-site investigations excessively. For insurance companies, on-site investigation is an effective way to detect any possible fraud, but the problem is [...]
SEOUL, June 2 (Korea Bizwire) — South Korean financial companies are beefing up efforts to foster their own characters based on judgment that they would help attract more customers. Among the characters that are famous in the banking industry is Shinhan Bank’s polar bear “SOL,” designed based on the motif of the Little Bear that [...]
SEOUL, June 1 (Korea Bizwire) — Foreign investors have snapped a monthslong selling streak and turned to a buying mode for South Korean stocks, data showed Wednesday, amid eased worries over a global recession and China’s struggle with COVID-19 outbreaks. Foreigners scooped up a net 1.72 trillion won (US$1.38 billion) on the country’s main KOSPI [...]
SEOUL, May 31 (Korea Bizwire) — Dividend payouts by firms listed on South Korea’s main stock market sank more than 14 percent in 2021 despite a solid rise in their share prices, data showed Tuesday. The combined amount of dividends by top-cap Samsung Electronics Co. and 567 companies listed on the main bourse came to [...]
SEOUL, May 30 (Korea Bizwire) — The combined net profit of insurance firms in South Korea dropped by more than 21 percent in the first quarter of this year amid the pandemic and a decline in asset value, regulator’s data showed Monday. The net profit of 53 major insurers here totaled 3.05 trillion won (US$2.45 [...]
SEOUL, May 29 (Korea Bizwire) — More than 170 employees from banks and other financial firms have embezzled more than a combined 100 billion won (US$79.62 million) over the past five years, but about a mere 11 percent has been retrieved, data showed Sunday. Calls have grown recently for financial firms and authorities to strengthen [...]
SEOUL, May 26 (Korea Bizwire) — The number of big foreign investors in South Korean stocks has tumbled nearly 30 percent over the past six years, a corporate tracker said Thursday, in a sign the local bourse is increasingly losing its appeal amid a lack of transparent corporate governance. A total of 164 offshore investors [...]
SEOUL, May 26 (Korea Bizwire) — More than 7 out of 10 listed companies in South Korea have suffered stock price setbacks over a one-year period as investors remain disheartened by rate hikes in major economies, data showed Thursday. According to the data from the Korea Exchange, 72.4 percent of the 2,498 firms traded on [...]
SEOUL, May 23 (Korea Bizwire) — Foreign bank branches in South Korea saw their combined net profit down 4.5 percent in 2021 due to a rise in securities-linked losses amid market downswings, data showed Monday. The combined net income of 35 foreign lenders’ local branches stood at 1.15 trillion won (US$904.4 million) in the fiscal [...]
SEOUL, May 23 (Korea Bizwire) — The collapse of an asset market bubble in South Korea could lead to a more dangerous situation than the crash of the country’s information technology (IT) bubble in the early 2000s, market experts warned Monday. Their doomsday scenario comes amid warnings that a U.S. stock market bubble has begun [...]