SEOUL, Oct. 2 (Korea Bizwire) — The government on Wednesday unveiled additional financial support for low-income earners that include complete debt forgiveness for those who are willing but unable to repay their loans. The move comes amid sharp increases in household debts and the number of people going bankrupt. The number of people filing for [...]
SEOUL, Jan. 10 (Korea Bizwire) – As the new year unfolds, major financial groups in South Korea are fiercely competing to enhance their services through the development of sophisticated mobile applications, focusing on creating ‘super apps’ that offer core services of both banking and non-banking affiliates in a single application, each employing slightly different strategies to [...]
SEOUL, Feb.10 (Korea Bizwire) – The number of households having trouble paying off their debts due to a lack of income is increasing. According to data issued by the Bank of Korea (BOK), the number of households with limited financial ability was 1,580,000 in March 2015, which was 14.7 percent of the 10,720,000 households with [...]
SEOUL, Jan. 12 (Korea Bizwire) – South Korea’s top financial regulator warned of greater financial market volatility on Tuesday, vowing to properly deal with it with a sense of alertness in order to ensure market stability. The local market has suffered a setback, facing a double whammy of China’s stock market rout amid concerns over [...]
SEOUL, Dec. 3 (Korea Bizwire) – South Korea’s top financial regulator said Thursday that it will unveil a tighter mortgage loan screening system later this month in a bid to tackle the mounting household debt in the face of a potential U.S. rate hike. Household credit totaled a fresh record of 1,166.4 trillion won (US$1.01 [...]
NEW YORK, Aug. 5, 2014 (Korea Bizwire) – NASDAQ OMX today announced that First Trust will launch a new exchange traded fund (ETF), First Trust Enhanced Short Maturity ETF (Symbol: FTSM), which will be listed on The NASDAQ Stock Market(R) (NASDAQ(R)). FTSM will begin trading on NASDAQ on Wednesday, August 6, 2014. “Over the [...]