SEOUL, Sept. 27 (Korea Bizwire) — The financial regulator said Thursday it will ease some rules on local private equity funds, with the aim of removing outdated restrictions on the industry and spurring competition with foreign rivals. Under the move, the Financial Services Commission (FSC) said it will allow local private equity funds to have [...]
SEOUL, Sept. 25 (Korea Bizwire) –A few South Korean life insurance companies still have misselling rates reaching nearly 1 percent regarding their insurance policies. Misselling is a sales practice in which a financial product or service is deliberately misrepresented or a customer is misled pertaining to certain information regarding the product. The practice has become [...]
SEOUL, Sept. 12 (Korea Bizwire) — The maximum possible number of shares investors can purchase in a single order will be reduced starting next week to prevent fat-finger errors, the local bourse operator said Wednesday. Investors will be allowed to buy a maximum of 1 percent of a firm’s total shares per order starting Monday, [...]
SEOUL, Aug. 23 (Korea Bizwire) — The amount of foreign securities held by major South Korean institutions fell for the first time in more than three years in the second quarter due to a drop in holdings of foreign currency-denominated bonds, central bank data showed Thursday. As of the end of June, the value of [...]
SEJONG, Aug. 22 (Korea Bizwire) — The number of newborns in South Korea fell again in June, government data showed Wednesday, in the latest sign of the chronically-low birthrate that has plagued Asia’s fourth-largest economy for more than a decade. About 26,400 babies were born in June, down 8.7 percent from 28,900 tallied a year [...]
SEOUL, Aug. 14 (Korea Bizwire) — U.S. online travel company Expedia Group Inc. said Tuesday it will closely review feedback from customers in South Korea, one of the most wired countries in the world, to better accommodate the increasing number of travelers using mobile transactions globally. According to the company, more than 50 percent of [...]
SEOUL, Aug. 8 (Korea Bizwire) — A group of BMW owners will file a complaint with police this week seeking a criminal investigation into top officials at the local unit of the German carmaker over a recent series of fires in vehicles, a law firm representing the plaintiffs said Wednesday. Barun Law LLC said it [...]
SEOUL, Aug. 6 (Korea Bizwire) — Long-running boy band g.o.d will celebrate the 20th anniversary of their debut next year with a series of celebratory projects, including the release of a new album, their management agency said Monday. The quintet debuted in 1999 and became a household name in the K-pop scene in the early [...]
SEOUL, Jun. 23 (Korea Bizwire) — Novel Alzheimer’s disease (AD) medication developed by Megabiowood research team is planning for phase I clinical trial in next year. The novel medication is appraised to have high commercial possibilities as its aspects which shows non-cytotoxicity and superior absorbency that solves not only the symptoms but also the cause [...]
SEOUL, Jun. 18 (Korea Bizwire) — Over 22,000 bed mattresses found to emit radiation levels above safety standards have been collected nationwide over the weekend, the country’s post office said Monday. Some 30,000 employees and 3,200 vehicles were mobilized to collect 22,298 mattresses produced by Daijin Bed Co. on Saturday and Sunday, according to Korea [...]