Fee Cuts and Loan Curbs Weigh on Card Industry

SEOUL, Feb. 11 (Korea Bizwire) —  The combined net profits of South Korea’s four largest credit card companies fell nearly 8 percent last year, as lower merchant fees, tighter lending rules and higher borrowing costs squeezed margins across the industry. Samsung Card, Shinhan Card, Hyundai Card and KB Kookmin Card reported a total net income of [...]