SEOUL, Sept. 26 (Korea Bizwire) — A Seoul district court has ruled Samsung Securities Co. must compensate investors for half of their damages incurred due to a 2018 dividend error by an accidental stock issuance, judicial sources said Sunday. The Seoul Central District Court recently ruled partially in favor of three investors who filed damages [...]
SEOUL, Sept. 23 (Korea Bizwire) — South Korea’s leading internet-only lender Kakao Bank said Thursday its customer number has surpassed the 17 million mark nearly four years after its launch. Kakao Bank, led by Kakao Corp., the operator of the country’s dominant messaging app KakaoTalk, said its customers numbered 17.17 million as of the end [...]
SEOUL, Sept. 23 (Korea Bizwire) — South Korea’s banking industry is performing a variety of experiments to ensure efficient and cost-effective branch operations, while, at the same time, speeding up the restructuring of branches as a way to promote a digital transformation. KEB Hana Bank and the state-run Korea Development Bank (KDB) joined hands to [...]
SEOUL, Sept. 23 (Korea Bizwire) — The use of non-face-to-face bank loans that can be applied for simply through several clicks online is on a steady rise. The outstanding balance of non-face-to-face loans at the nation’s 18 commercial banks as of the end of June 2021 totaled 111.8 trillion won (US$94.4 billion), an almost threefold [...]
SEOUL, Sept. 17 (Korea Bizwire) — Medium-sized cryptocurrency exchanges in South Korea have discontinued trading pairs and payment services using the Korean currency as financial regulators are set to enforce tougher rules, according to market watchers Friday. By next Friday, both foreign and local cryptocurrency exchanges targeting Korean investors must register with the nation’s anti-money [...]
SEOUL, Sept. 17 (Korea Bizwire) — Stock transactions in South Korea spiked more than 70 percent in 2020 amid an investment craze among retail investors, data showed Friday. The value of stock trading in Asia’s fourth-largest economy stood at 35,397.3 trillion won (US$30.2 trillion) last year, up 70.5 percent from a year earlier, according to [...]
SEOUL, Sept. 16 (Korea Bizwire) — The volume of transactions processed through the decimal point trading service for foreign stocks has been on an upward trend since it was introduced three years ago. According to data that Rep. Youn Kwan-suk of the ruling Democratic Party received from the Financial Services Commission, the number of users [...]
SEOUL, Sept. 15 (Korea Bizwire) — South Korean internet-only banks are ramping up efforts to attract more deposits in the wake of a newcomer’s entry into the fast-growing sector, industry sources said Wednesday. The heated race comes as the latecomer, Toss Bank, has begun receiving applications from customers even before its official launch scheduled for [...]
SEOUL, Sept. 10 (Korea Bizwire) — Kakaopay Corp., a financial unit of tech giant Kakao Corp., will suspend its car insurance comparison service later this month after providing an unauthorized brokerage service, industry sources said Friday. Kakaopay’s service to help customers find the best deal among six partnered car insurers, including Hyundai Marine and Fire [...]
SEOUL, Sept. 5 (Korea Bizwire) — South Korea’s initial public offering (IPO) market is booming with mega deals this year, already smashing the previous high while several more big deals are scheduled for the remaining months. A total of 73 companies have raised a combined 16.1 trillion won (US$13.9 billion) through their listings in the [...]