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Number of S. Korean Bank Branches Plummets

SEOUL, April 8 (Korea Bizwire) — With the growing popularity of online financial services, banks are shutting down branch offices across the country. The Financial Supervisory Service reported that there were 6,405 bank branches as of late 2020, which was 304 fewer than the previous year, representing the largest plunge since 2017 when banks shut [...]

CGV to Reduce Number of Cinemas by 30 pct amid Coronavirus Slump

SEOUL, Oct. 19 (Korea Bizwire) — CJ CGV, the country’s largest cinema chain, has decided to reduce the number of its branches by 30 percent as it strives to survive the impact of the coronavirus pandemic. The company, affiliated with entertainment and retail giant CJ Group, announced a set of restructuring measures Monday, as its [...]