SEOUL, March 29 (Korea Bizwire) – The amount of payments made electronically hit a record high last year, central bank data showed Monday, as the COVID-19 pandemic prompted people to engage in contact-free commerce. The daily average amount of electronic financial transactions came to 705.5 billion won (US$624 million) in 2020, up 32.7 percent from [...]
SEOUL, March 26 (Korea Bizwire) — Insurance companies are coming up with plans that offer compensation for severe allergic reactions to coronavirus vaccines as South Korea begins inoculations. LINA Korea introduced a new short-term, micro-insurance plan on Thursday that offers compensation for various kinds of anaphylactic shock. If a subscriber suffers from anaphylactic shock for [...]
SEOUL, March 18 (Korea Bizwire) — South Korean vaccine maker SK Bioscience Co. made a splash in its debut on the main bourse Thursday, closing at more than two times its initial public offering (IPO) price. Instantly after the opening bell, its stock price soared to the daily permissible ceiling of 169,000 won (US$149.43), up [...]
SEOUL, March 17 (Korea Bizwire) — Credit card companies are looking for a financial breakthrough in the data industry as they continue to struggle from Buy Now, Pay Later (BNPL) services. The onslaught of the fintech companies is pushing credit card companies away from their profit centers, after they lost monopoly over the BNPL market [...]
SEOUL, March 16 (Korea Bizwire) — The number of stock investors jumped nearly 49 percent in 2020 from a year earlier amid a bullish market run, industry data showed Tuesday. A total of 9.19 million investors held shares in 2,352 companies listed on the country’s main and secondary bourses, up 48.5 percent from a year [...]
SEOUL, March 16 (Korea Bizwire) – The market value of cryptocurrencies in South Korea has shot up nearly 10 times over the past three years amid keen investor interest, industry sources said Tuesday. According to local cryptocurrency exchange Upbit, its market index stood at 9,742.62 points as of 5:45 p.m. Monday, almost 10 times the [...]
JEJU, March 15 (Korea Bizwire) — Political and civic conflict over the proposed construction of a new international airport on Jeju Island appears to be intensifying, with supporters and opponents of the project holding a string of separate rallies in the city of Jeju in recent weeks. Justice Party lawmaker Sim Sang-jeung, flanked by a [...]
CHUNCHEON, March 11 (Korea Bizwire) — The construction of Legoland Korea on a river island in Chuncheon, Gangwon Province scheduled for grand opening early next year, is struggling with development projects in the surrounding area. Legoland Korea Resort will consist of seven clusters built on 280,790 square meters of land, including the Lego Hotel and [...]
SEOUL, March 10 (Korea Bizwire) — South Korean vaccine maker SK Bioscience Co. drew a record 64 trillion won (US$56 billion) in investor deposits during a two-day subscription period for its share sale, company officials said Wednesday. According to the officials, the deposits for SK Bioscience’s initial public offering (IPO) surpassed the two previous records [...]
SEOUL, March 10 (Korea Bizwire) — Seoul attracted a record US$10.2 billion in foreign direct investment last year despite the economic toll of the coronavirus pandemic, the city government said Wednesday. Last year was also the second consecutive year FDI in the capital city topped $10 billion, continuing an upward trend since 2017, according to [...]