SEOUL, March 9 (Korea Bizwire) – The latest study on gender equality from the Ministry of Gender Equality & Family revealed that more women were in charge when it comes to financial management of their family, although men were bigger spenders. According to the study, 56.9 percent of 7,399 respondents (3,942 women, 3,457 men) said [...]
SEOUL, Feb. 15 (Korea Bizwire) – One out of four employees in South Korea’s financial sector earned more than 100 million won (US$87,000) last year, a report showed Wednesday. The report submitted to the Financial Services Commission by the Korea Institute of Finance said 24.8 percent of employees at 1,389 financial firms earned more than [...]
SEOUL, Jan. 25 (Korea Bizwire) – South Korean companies tend to work with the same accounting firm for a long period of time, an analysis showed Wednesday, a practice partly blamed for corroborated cover-ups of financial troubles that later blow up in damaging losses for lenders and investors. The analysis by corporate watcher CEO Score [...]
SEOUL, Dec. 22 (Korea Bizwire) – South Korea made a pitch Thursday for its financial technology, or fintech, in China under the government’s campaign to support related startups here seeking to do business abroad. The state-funded Fintech Center held the “Fintech Demo Day in Beijing” event, joined by five South Korean firms and potential business [...]
SEOUL, Dec. 8 (Korea Bizwire) – South Korea has decided to reset its push to become a regional financial hub, reflecting a change in related global circumstances, authorities announced Thursday. Despite the government’s initiative that started in 2008, foreign financial firms have withdrawn or scaled down their businesses in Asia’s fourth-biggest economy. In a relevant [...]
SEOUL, Dec. 1 (Korea Bizwire) – South Korea hosted another event Thursday to demonstrate its financial technology, albeit still in the nascent stage, as the government views it as the key to the future of the nation’s financial sector. Seven “promising” fintech startups here participated in the Demo Day event, the 13th of its kind, [...]
SEOUL, Nov. 25 (Korea Bizwire) – It’s been a month since Korea began the pilot operation of a robo-advisor for financial investments, and thus far, it has left some positive impressions. According to Koscom, an IT solution company that’s overseeing the test bed, the AI-based system managed to make a profit on all portfolios investing [...]
SEOUL, Nov. 9 (Korea Bizwire) – South Korea’s top financial regulator said Wednesday the related authorities will do their best for market stabilization with an “utmost sense of tension,” as Americans caught the world off guard by choosing Donald Trump as their next president. “Following the U.S. presidential elections, the expansion of swings at South [...]
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 [...]
SEOUL, Sept. 1 (Korea Bizwire) – The government plans to allow financial service companies here to share the personal information of their customers for big data collection purposes while keeping their names and other details undisclosed, the top financial regulator said Thursday. The measure would pave the way for banks, insurers, securities firms, fintech operators [...]