SEOUL, April 5 (Korea Bizwire) — Rising concerns are alluding to cryptocurrency exchanges in South Korea receiving higher commissions than securities firms despite issues in the stability of transactions. Rep. Yoo Gyeong-joon of the People Power Party received reports from the Financial Services Commission and the Financial Supervisory Service that four major cryptocurrency exchanges in [...]
SEOUL, April 5 (Korea Bizwire) — South Korean online banks’ household loans grew nearly 8 percent in the first three months of this year amid decreased lending by offline rivals, industry sources said Tuesday. Outstanding household lending by the three online banks — Kakao Bank, K-Bank and Toss Bank — came to 36.14 trillion won [...]
PAJU, April 4 (Korea Bizwire) — U.S. investor Jim Rogers has been tapped to serve as an adviser on inter-Korean cooperation projects for Paju, a South Korean city near the border with North Korea, officials said Monday. Rogers plans to visit Paju, 30 kilometers north of Seoul, on Wednesday to sign an agreement to serve [...]
SEOUL, April 1 (Korea Bizwire) — Investors in their 20s and 30s deposited a total of 19.04 trillion won (US$15.6 billion) in South Korea’s major cryptocurrency exchanges last year, data showed Thursday. The Financial Supervisory Service reported that the five major cryptocurrency exchanges in South Korea were holding investments of 52.8 trillion won as of [...]
SEOUL, March 30 (Korea Bizwire) — Banks in South Korea continued to reduce the number of their offline branches in 2021 as part of efforts to reduce costs amid the expanded use of mobile banking, data showed Wednesday. The number of brick-and-mortar branches run by local banks came to 6,904 as of end-2021, down 311 [...]
SEOUL, March 30 (Korea Bizwire) – The Seoul city government on Wednesday imposed an eight-month business suspension on HDC Hyundai Development Co. over a deadly building demolition project that claimed nine lives in June of last year. The order was issued at the request of the land ministry following an investigation into the accident in [...]
SEOUL, March 30 (Korea Bizwire) — Asset management firms in South Korea saw their 2021 combined net earnings jump 67.1 percent from a year earlier thanks to a rise in commission revenue, data showed Wednesday. The combined net income of 348 firms came to 2.16 trillion won (US$2.01 billion) last year compared with 1.3 trillion [...]
SEOUL, March 29 (Korea Bizwire) — The Korea Development Bank (KDB), a state-run lender, said Tuesday its customers will be allowed to use ATMs and other offline branch offices of Hana Bank as part of efforts to enhance customer convenience. Under a deal for cooperation, all KDB customers will be able to use 3,576 ATMs [...]
SEOUL, March 28 (Korea Bizwire) — The government on Monday sought the cancellation of HDC Hyundai Development Co.’s business registration in what could be the heaviest punishment against the builder over a deadly partial collapse of a high-rise building. Outer wall structures of the 39-story apartment building under construction in the city, 330 kilometers south [...]
SEOUL, March 28 (Korea Bizwire) — Card firms in South Korea saw their combined earnings in 2021 jump thanks to a hike in commission revenue boosted by rebounding consumption from a pandemic-caused slowdown, industry data showed Monday. The combined net income of eight major card firms came to 2.71 trillion won (US$2.21 billion) last year, [...]