SEOUL, Aug. 9 (Korea Bizwire) — Jihae Jenna Lee, a former portfolio manager at Boston-based hedge fund Acadian Asset Management, last year extended her “funeral date” by another five years. Her robo-advisor asset management company, AIM (Automated Investment Management) Inc., founded in 2016, had grown significantly in the fourth year of operation, with the volume [...]
SEOUL, Aug. 4 (Korea Bizwire) — Demand for DRAM is expected to grow at a historically low level next year, a report said Thursday, dimming outlook for South Korean chipmakers, heavily dependent on memory chip sales for their bottom line. Industry research firm TrendForce forecast DRAM market demand bit growth will amount to only 8.3 [...]
SEOUL, Aug. 4 (Korea Bizwire) — As non-face-to-face consumption has become a daily routine following the onset of the COVID-19 pandemic, South Korean consumers are using mobile payment services more than actual debit or credit cards, a poll showed Wednesday. According to an online survey conducted by the Korea Consumer Agency of 1,500 consumers who [...]
SEOUL, July 13 (Korea Bizwire) — Kakao Corp., operator of South Korea’s most popular messaging app KakaoTalk, has decided to remove an external payment link from the Android version of the software, following a standoff with Google over the U.S. tech giant’s new in-app payment policy, sources said Wednesday. The standoff between the two companies [...]
SEOUL, July 5 (Korea Bizwire) — The time is coming when public transport fares will be paid automatically if you simply pass by card readers without having to tag your traffic card or smartphone on the readers. South Korean smart payment operator Tmoney Co. said Monday that it will launch a trial operation of the [...]
SEOUL, Aug. 13 (Korea Bizwire) — Despite the overall growth of South Korea’s fintech industry, including the market for wire transfers and payments, cryptocurrency exchanges have seen drastic cuts in revenue and operating profits. CEO Score, a business analysis agency, studied the performance of 186 fintech firms based on public reports from the last three [...]
SEOUL, July 28 (Korea Bizwire) — Beginning next year, South Koreans will be able to conveniently confirm their identities through smartphones, thanks to the planned introduction of an ID card mobile verification service, the government said Wednesday. The Ministry of the Interior and Safety said it will build the resident registration card mobile verification service [...]
SEOUL, July 28 (Korea Bizwire) — South Korea’s financial authority said Wednesday it plans to expand the ecosystem of the so-called open banking platform by inviting users of fintech services, allowing more people to enjoy simpler financial transactions. South Korea launched the open banking service in 2019, which centers on allowing customers to use any [...]
SEOUL, March 17 (Korea Bizwire) — The spread of contactless work and tasks following last year’s coronavirus outbreak has led companies to bolster efforts to prevent data leaks. The Ministry of Science and ICT and the Korea Information Security Industry Association conducted a study of 9,000 businesses with more than one employee and an internal [...]
SEOUL, March 14 (Korea Bizwire) — South Korea’s information security market grew to hit nearly 12 trillion won (US$10.6 billion) last year on the back of increasing demand for online services amid the pandemic, the ICT ministry said Sunday. Total sales of the industry, which includes digital and physical security sectors, reached 11.9 trillion won [...]