SEOUL, Oct. 25 (Korea Bizwire) – Korea is seeing a rising number of studio apartments built with “smart” features based on IoT, with the growing popularity of smart homes. According to construction industry watchers, these IoT-equipped efficiency apartments, also referred to as officetels in Korea, are particularly popular among members of the younger generation in their [...]
SEOUL, Oct. 25 (Korea Bizwire) – An over-the-counter stock market for promising startups will open in South Korea in November to help them raise funds more easily and offer investors a chance to buy their shares, the bourse operator said Tuesday. The Korea Exchange (KRX) said the stock market, named the KRX Startup Market (KSM) [...]
SEOUL, Oct. 24 (Korea Bizwire) – South Korea announced Monday it will lay the systemic groundwork for the spread of digital currency as part of efforts to promote financial technology, also called fintech. “The government will push for the systematization of digital currency on a full scale in tandem with a global trend in the [...]
SEOUL, Oct. 20 (Korea Bizwire) – South Korea will revise a law and administrative regulations on the local banking industry to make it easier for banks here to tap into insurance and investment-related businesses, and open new offices abroad, the financial regulator said Thursday. The move is meant to give local banks more autonomy in [...]
SEOUL, Oct. 19 (Korea Bizwire) – South Korea’s stock market operator said Wednesday it has signed a contract with its Vietnamese counterpart to set up the IT infrastructure for the Southeast Asian nation’s equity trading. Under the deal with the Hochiminh Stock Exchange (HoSE), the Korea Exchange (KRX) will offer a set of programs based [...]
SEOUL, Oct. 17 (Korea Bizwire) – Use of prepaid cards in South Korea almost halved in the second quarter of this year from three months earlier, government data showed Monday, as card firms are passive about the costly business. The country’s prepaid card spending stood at 869.3 billion won (US$765 million) in the April-June period, [...]
SEOUL, Oct. 17 (Korea Bizwire) – Shares held by foreign investors at South Korea’s top 30 listed firm have exceeded 315 trillion won (US$278 billion), data showed Sunday. According to the Financial Supervisory Service data submitted to the National Assembly, shares held by foreign investors were 67 percent of the total share ownership as of [...]
PYEONGTAEK, South Korea, Oct. 14 (Korea Bizwire) – A massive Chinatown to be established in Pyeongtaek’s Yellow Sea Free Economic Zone (YSFEZ) is finally picking up steam. According to China Castle, the project’s special purpose company (SPC), 50 billion won ($44 million) in capital has been secured, which should allow the venture to take off [...]
SEOUL, Oct. 13 (Korea Bizwire) – South Korea’s exports are expected to receive a much-needed boost next year from more imports by its major trading partners including China and the United States, the Bank of Korea (BOK) said Thursday. In a report on global trade, the central bank analyzed the estimated income and import growth [...]
SEOUL, Oct. 13 (Korea Bizwire) – South Korea’s financial watchdog said Thursday it will step up efforts to early detect possible risks in the local banking sector amid a full-fledged corporate restructuring drive at home and unrelenting uncertainties abroad. Speaking to lawmakers, Zhin Woong-seob, governor of the Financial Supervisory Service (FSC), reminded domestic banks of [...]