SEOUL, Aug. 27 (Korea Bizwire)– Byun Yang-gyun(67), the senior presidential secretary for policy planning to Korea’s late President Roh Moo-hyun, will take office as the chairman of Smile Gate Investment. Smile Gate Investment is an investment firm founded in 1999 that hasinvested in more than 300 venture businesses, including game companies such as Smile Gate and [...]
SEOUL, Aug. 26 (Korea Bizwire) – South Korea’s state-run pension fund has suffered heavy valuation losses from its investment in two Samsung Group units over the past two months as the stocks have plunged after their merger plan was approved by shareholders last month, data showed Wednesday. The National Pension Service (NPS) — which holds [...]
SEOUL, Aug. 26 (Korea Bizwire) – The ‘Sampo Generation’ which is the Korean version of ‘millennials’, who gave up employment, marriage and child birth, have turned out to be more conservative than the Generation X or Baby Boomers when it comes to asset management. Those in the Sampo Generation prefer to invest in deposit and installment [...]
SEOUL, July 30 (Korea Bizwire)-Bankbooks have been issued ever since banks were established in Korea.But aftermore than 100 years of existence, they are going the way of the dodo. Bankbooks will no longer be issued from September 2017, but starting in September this year, in order to ease people into the new system, incentives will [...]
SEOUL, July 22 (Korea Bizwire) — South Korea’s asset management firms have seen an influx of money this year as their indirect investment vehicles enjoy popularity amid the low interest rate environment, data showed Wednesday. The combined assets under management by local firms reached 812.87 trillion won (US$704.1 billion) as of Friday, up 18.9 percent [...]
Seoul, July 21 (Korea Bizwire) – The Korea Customs Service announced that they have reorganized their systems so that Unique Entry Codes needed for import declarations can be issued through mobile phones with user authentication via text. Unique Entry Codes are identifying codes issued by the customs office that an individual can use instead of their [...]
Seoul, July 9 (Korea Bizwire) — There will be no need to fill out personal information such as names, addresses or phone numbers when applying for a savings account or investment account at a financial institution one is already dealing with, starting as early as the end of the year. Repeated signatures on documents will [...]
SEOUL, July 9 (Korea Bizwire) – As more students fail to pay back money borrowed for their tuition, the number of students who are facing legal action increased more than tenfold in just five years. On July 8, the Center for Freedom of Information and Transparent Society unveiled its report on student loan volumes by [...]
MINNEAPOLIS, Jul. 7 (Korea Bizwire) – U.S. Bank, the fifth-largest commercial bank in the United States, today released its 2015 U.S. Bank Students and Personal Finance Study based on a survey of 1,640 college students. Half of those surveyed said they would give themselves a C or below when asked how successful they are in managing [...]
SEOUL, Jun. 26 (Korea Bizwire) — Koreans who consider themselves middle-income earners have unrealistically high expectations about their post-retirement lives, even as they save little. According to a survey conducted by AIA Group on 2,500 individuals from Korea, China, Hong Kong and Taiwan who consider themselves to be middle-income earners, Korean respondents answered that they [...]