ZUG, SWITZERLAND, Aug. 30 (Korea Bizwire) – SEBA Crypto AG (SEBA) is proud to announce it has successfully obtained a banking and securities dealer licence[1] from the Swiss regulator FINMA. This represents a milestone for the entire digital asset market ecosystem, as a new secure and integrated access point to the crypto world is now [...]
HANOI, May 18 (Korea Bizwire) — The race is on between domestic banks to venture into the Vietnamese market, which has been dubbed the ‘post-China’ economy. The growth rate of the Southeast Asian nation has continued to be high at 6 percent over the last few years, and over 6,500 Korean firms have already entered [...]
SEOUL, Aug. 22 (Korea Bizwire) – The Financial Supervisory Service (FSS) said Monday it has published a guidebook on local finance for English and Indonesian speakers so that they can use full and reliable services in South Korea. The Foreign Residents’ Guide to Personal Banking and Finance in Korea contains information on banking, currency exchange, [...]
SEOUL, May 12 (Korea Bizwire) — South Korea has imposed a levy on financial firms’ non-deposit foreign borrowing to ease volatility in capital flows, the central banks said Thursday. The Bank of Korea said 66 financial companies, including 17 local banks and 34 branches of foreign lenders, are required to pay 0.1 percent of their [...]
SEOUL, May 2 (Korea Bizwire) — Nearly 90 percent of financial firms worldwide said their businesses are at risk from rapidly expanding fintech rivals and they fear losing revenue to the financial innovators, according to a new study released on Monday, in the latest sign of the growing influence of financial technology, known as fintech. [...]
SEOUL, March 13 (Korea Bizwire) – South Korea’s largest financial institution, Shinhan Bank, is scrapping paper forms, and instead, going digital in an all-out effort to raise productivity. From today, all Shinhan branches will provide most banking services digitally, including applications for accounts and credit cards. Shinhan’s bold move to replace paper with digital counterparts [...]
SEOUL, Dec. 19 (Korea Bizwire) – South Korea will relax a regulation on the capital ratio of local banks this week in a move to reduce their financial burden, the country’s finance regulator said Monday. The Financial Services Commission (FSC) will allow them to designate their loan-loss reserves as common capital stock under the revised [...]
SEOUL, Dec. 6 (Korea Bizwire) – South Korea’s Shinhan Bank said its Indonesian unit, Bank Shinhan Indonesia (BSI), has completed a merger with another Indonesian bank in the latest move to seek a new growth engine in the world’s fourth most populous country. BSI won an approval from the Indonesian financial authorities for its plan [...]
SEOUL, Oct. 13 (Korea Bizwire) – South Korea’s financial watchdog said Thursday it will step up efforts to early detect possible risks in the local banking sector amid a full-fledged corporate restructuring drive at home and unrelenting uncertainties abroad. Speaking to lawmakers, Zhin Woong-seob, governor of the Financial Supervisory Service (FSC), reminded domestic banks of [...]
SEOUL, Oct. 7 (Korea Bizwire) – South Korea will relax regulations on local banks’ capital to help them improve profitability and raise global competitiveness, the nation’s top financial regulator said Friday. Yim Jong-yong, chairman of the Financial Services Commission (FSC), admitted that banks here are subject to some “excessive” rules including those on loan loss [...]