SEOUL, July 25 (Korea Bizwire) — South Korea’s credit card loan delinquency rate at general banks surged to a 20-year high in May, reflecting growing financial distress among vulnerable borrowers amid tightening credit conditions across the banking sector. According to data released Wednesday by the Bank of Korea, the delinquency rate on credit card loans [...]
SEOUL, July 22 (Korea Bizwire) — South Korea’s exchange-traded fund (ETF) market reached a major milestone this week, with the total number of listed ETFs surpassing 1,000 for the first time, signaling accelerating growth in the sector. According to the Korea Exchange (KRX) on Monday, a total of 1,002 ETFs were being traded on the [...]
SEOUL, July 14 (Korea Bizwire) — South Korea’s financial authorities are preparing a sweeping overhaul of capital regulations to curb excessive bank lending in real estate and steer financial resources toward high-growth industries like artificial intelligence and biotechnology. According to industry officials on July 13, the Financial Services Commission (FSC) is reviewing plans to raise [...]
SEOUL, July 13 (Korea Bizwire) — Short-selling positions in South Korea’s stock markets have surged to their highest levels since the full resumption of short-selling in March, signaling a rise in bearish bets even as local equities continue a months-long rally. According to data released Saturday by the Korea Exchange, net short interest in the [...]
SEOUL, June 30 (Korea Bizwire) — The South Korean central bank on Monday lifted restrictions on local institutions investing in foreign currency-denominated bonds issued for domestic use, known as kimchi bonds, in an effort to improve foreign exchange liquidity, officials said. Under the new measure, foreign exchange institutions, including foreign exchange banks, securities firms and [...]
SEOUL, June 30 (Korea Bizwire) — As smartphones and online platforms become the dominant gateway to financial services, a new academic study has found that digital transaction literacy is the most crucial skill for sound personal financial management—outweighing traditional financial knowledge or attitudes. According to research by Professor Yang Se-jung’s team at Sangmyung University, published [...]
SEOUL, June 26 (Korea Bizwire) — South Korea’s financial investment in the United States surged to an all-time high in 2024, as domestic investors increasingly turned to U.S. stocks and production facilities amid a shifting global economic landscape, data from the Bank of Korea showed Thursday. According to the central bank’s provisional international investment balance sheet, [...]
SEOUL, June 23 (Korea Bizwire) — South Koreans in their 30s to 60s scored an average of 69.9 out of 100 in overall retirement preparedness, reflecting modest improvement over the past five years but revealing persistent disparities across income levels, marital status, and geographic regions. According to a new government-commissioned report released by the Korea [...]
SEOUL, June 19 (Korea Bizwire) — In a milestone for South Korea’s luxury financial market, Hyundai Card has become the first local issuer to launch the American Express Centurion Card—widely known as the “original black card”—marking the domestic debut of a product long reserved for the global ultra-elite. The card, issued exclusively by invitation and [...]
SEOUL, June 17 (Korea Bizwire) — A new report warns that South Korea’s elderly population faces a growing “double burden” as rising health insurance premiums and income taxes increasingly eat into public pension payouts, significantly reducing retirees’ real disposable income. According to a study released Tuesday by the National Pension Research Institute, the 2022 overhaul of [...]