SEOUL, Feb. 20 (Korea Bizwire) — With soaring consumer prices, a growing number of Koreans are scrambling to save even the smallest coins. On Thursday at noon, the Seoul Museum of Art square slowly began to be filled with people. After 20 minutes, some 200 people filled up the 800-square-meter plaza. A fintech service provider [...]
TAEBAEK, Jan. 13 (Korea Bizwire) — An elderly person in his late 60s visited the administrative welfare center in Taebaek, Gangwon Province on Tuesday. He carried a 20-kilogram liquefied petroleum gas (LPG) cylinder. “This is a piggy bank that I made for myself. The amount of money I saved is not much but I hope [...]
SEOUL, Oct. 4 (Korea Bizwire) — South Korean teens are refusing to take the change when paying for public transportation because it is ‘too embarrassing’. A 15-year-old teenager surnamed Lee said she has almost never taken any change when paying for a bus ride. “A single pack of snacks at a convenience store costs over [...]
SEOUL, Oct. 18 (Korea Bizwire) — Each South Korean owns hundreds of coins that are not being used in the market. Rep. Yoo Sung-kull of the main opposition People Power Party said that, according to the Bank of Korea (BOK), each South Korean owned an average of 454 coins as of last month. Last year, [...]
SINGAPORE, July 22 (Korea Bizwire) – MEXC Global, the one-stop solution for spot trading and derivatives, continues to be a market leader in providing top-quality tokens while promising to be one of the exchanges to watch out for in 2021. In addition, MEXC recently engaged its strategic expansion globally, summing more than 850 digital assets already [...]
SEOUL, June 16 (Korea Bizwire) – Cryptocurrency exchanges here are removing some coins from their trading platforms as they are bracing for tough regulations on digital currency transactions set to be introduced in September, inducing sharp falls in prices and irking investors, industry sources said Wednesday. At least 11 of 20 certified cryptocurrency exchanges have [...]
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 [...]
SEOUL, Jun. 21 (Korea Bizwire) — The Bank of Korea (BOK) said Thursday that it conducted a month-long “Pan-National Coin Exchange Campaign” in May, exchanging a total of 221 million coins worth 32.2 billion won (US$27.7 million) for banknotes. The campaign was led by the Korea Federation of Banks, Korean Federation of Community Credit Cooperatives, [...]
SEOUL, Mar. 27 (Korea Bizwire) — “Good luck coins” worth 40 million won (US$35,300) gathered in the Cheonggye Stream in Seoul last year will be used to realize children and teenagers’ dreams. The Seoul Metropolitan Government announced on Tuesday that it will donate the lucky coins thrown at the Cheonggye Stream by domestic and foreign [...]
SEOUL, Oct. 22 (Korea Bizwire) — More than 20 billion won in South Korean coins and bills has been traded in for new currency over the past five years. Rep. Shim Jae-chul, a member of the Strategy and Finance Committee at the National Assembly, said on Sunday that the value of damaged banknotes, including burnt [...]