SEOUL, Dec. 13 (Korea Bizwire) – The minimum wage hike which will enter effect next year has been labeled the hottest issue of this year in the retail industry, a survey has found. According to the results of a survey conducted by Retail Magazine, which is run by the Korea Chainstores Association, the 16.4 percent minimum [...]
SEOUL, Dec. 13 (Korea Bizwire) — A virtual currency boom in South Korea is feared to have a negative impact on the country’s tech-heavy secondary stock market as it may drain money from the bourse, analysts said Wednesday. Virtual currencies, such as bitcoin and ethereum, have gained rapid popularity in recent years among South Korean [...]
SEOUL, Dec. 12 (Korea Bizwire) – An e-commerce business has successfully passed the preliminary rounds of a review by the Korea Exchange that, if successful, will see it listed on the KOSDAQ as the first beneficiary of the “Tesla Policy”. The Tesla Policy, set forth by the Korea Exchange, grants companies currently operating in the [...]
SEJONG, Dec. 12 (Korea Bizwire) – The number of foreign residents in South Korea has more than doubled over the past decade, topping the 2 million mark in 2016, but multicultural marriages have dropped sharply, government data showed Tuesday. The number of non-Korean citizens totaled some 2.05 million as of end-December 2016, according to the [...]
SEJONG, Dec. 12 (Korea Bizwire) — The South Korean government has announced plans for a second Pangyo Techno Valley by 2022, which will provide office space to nearly 1,400 businesses at affordable prices to boost promising startup companies. Under the startup complex project plan revealed on Monday, a new industrial complex will be built in addition [...]
SEOUL, Dec. 11 (Korea Bizwire) — Amid growing interest in cryptocurrency, security experts have warned that North Korean hackers could target bitcoin exchanges next year. During a press conference held on Friday, the Korea Internet & Security Agency (KISA) revealed a report predicting seven cyberattacks would likely come next year, with cryptocurrency exchanges as the likely [...]
SEOUL, Dec. 11 (Korea Bizwire) — Only 3 in 10 South Koreans currently use desktop online banking, while the majority have turned to mobile banking services accessed via smartphones and tablet PCs, a new survey has found. According to data provided by pollster DMC Media, around 28 percent of South Korean bank account holders aged between [...]
SEOUL, Dec. 11 (Korea Bizwire) – South Korea is considering banning all kinds of cryptocurrency transactions in the country as a way to cool down the worldwide craze for digital currencies, the top financial regulator said Monday. “I don’t see bitcoin transactions as financial deals,” Financial Services Commission (FSC) Chairman Choi Jong-ku said in a luncheon meeting with reporters. ”They are not institutionalized [...]
SEOUL, Dec. 10 (Korea Bizwire) — Samsung Electronics Co.’s mobile payment system is moving to expand into the banking sector to offer more diverse services to users, the South Korean tech giant said Sunday. The company said that starting Thursday, the payment system installed on some of its newer smartphones can be used to carry [...]
SEOUL, Dec. 7 (Korea Bizwire) – A shocking report has revealed that 6 in 10 middle class families in South Korea could suffer from financial hardships after retirement due to a lack of proper preparation. A study conducted by NH Investment & Securities’ research center found that 61.7 percent of middle class households believe their income [...]