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Bank of Korea to Introduce Service to Receive Change via Bank Account

Bank of Korea to Introduce Service to Receive Change via Bank Account

SEOUL, Oct. 4 (Korea Bizwire) — The Bank of Korea (BOK) announced plans to introduce a new service this year that will allow citizens to receive change through their bank account as part of its ‘coinless society’ initiative. “We will introduce a new service by the fourth quarter of this year that will allow customers [...]

S. Korea’s Growth Potential Set to Decline Due to Aging Population

S. Korea’s Growth Potential Set to Decline Due to Aging Population

SEOUL, Sept. 9 (Korea Bizwire) — South Korea’s growth potential is expected to fall at a faster rate than earlier anticipated largely due to the aging of the population that will also lead to a cut in the number of eligible workers, a central bank report said Monday. The country’s growth potential for the 2016-2020 [...]