SEOUL, Feb.10 (Korea Bizwire) – The number of households having trouble paying off their debts due to a lack of income is increasing. According to data issued by the Bank of Korea (BOK), the number of households with limited financial ability was 1,580,000 in March 2015, which was 14.7 percent of the 10,720,000 households with [...]
SEOUL, Jan. 29 (Korea Bizwire) - Debit card use in South Korea continued to rise in 2015 on tax benefits, data showed Friday, in a sign that the direct payment system is taking root in the country. According to the data by the Credit Finance Association of Korea (CREFIA), purchases made with debit cards reached 131.5 [...]
SEOUL, Jan. 7 (Korea Bizwire) – An interest rate hike of just 0.25 percentage points will likely cause the household debt service burden to rise by 1.9 trillion won (US$1.6 billion) per year, hurting consumer spending and affecting overall growth, the central bank said Thursday. In a report submitted to Rep. Park Won-suk of the [...]
SEOUL, Jan. 5 (Korea Bizwire) - College students who manage studying and a part-time job at the same time will become eligible for unemployment benefits from now on when they lose their job, the government said Tuesday. The Ministry of Employment and Labor said it revised the guidelines on unemployment allowances to lower the barriers for [...]
SEOUL, Dec.16 (Korea Bizwire) – Uber Technology has announced that it signed an agreement with KEB Hana Bank and Hana Capital to provide financial services to Uber Taxi and Uber Black. With the signing of the agreement, taxi drivers who use the Uber platform will be provided with various financial services by the two organizations. [...]
SEOUL, Dec.3 (Korea Bizwire) – A new type of identity authentication that does not require face-to-face interaction and will make it possible for clients to open new bank accounts without actually visiting a bank was demonstrated on December 2. ‘Bio authentication methods’, such as confirming one’s identity by putting their palm near a device, will [...]
SEOUL, Dec. 3 (Korea Bizwire) – South Korea’s top financial regulator said Thursday that it will unveil a tighter mortgage loan screening system later this month in a bid to tackle the mounting household debt in the face of a potential U.S. rate hike. Household credit totaled a fresh record of 1,166.4 trillion won (US$1.01 [...]
SEOUL, Nov. 30 (Korea Bizwire) - Dual income households in South Korea brought home 1.4 times more than families with a sole bread earner, a report by a local think tank said Sunday. According to Hyundai Research Institute (HRI), households that had both husband and wife holding jobs brought home an average 5.32 million won (US$4,600) per month in 2014. For families where only one person earned an income, the monthly average stood [...]
Afreeca TV has announced that it will be officially launching its new ‘FreeCap’ service, which allows users to invest in overseas futures through social trading methods. (Image : Firmbee / Pixabay) SEOUL, Nov.29 (Korea Bizwire) – Afreeca TV has announced that it will be officially launching its new ‘FreeCap’ service, which allows users to invest [...]
SEOUL, Nov.24 (Korea Bizwire) – The Human Resources Development Service of Korea announced that it will be managing a mobile service that calculates severance pay until the end of the year, to offer a more convenient option for business owners and foreign workers. The service can be used by going to the EPS homepage (http://www.eps.go.kr), [...]