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Financial Firms’ Overseas Units Shine in H1 Despite Pandemic

Financial Firms’ Overseas Units Shine in H1 Despite Pandemic

SEOUL, Oct. 6 (Korea Bizwire) — South Korean financial companies’ overseas units saw their earnings jump more than 27 percent in the first half of the year despite the coronavirus pandemic, a corporate tracker said Wednesday. According to CEO Score, 222 overseas subsidiaries of major banks and other financial institutions posted a combined net income [...]

Telcos Expand Cooperation with Financial Firms to Develop Data-based Services

Telcos Expand Cooperation with Financial Firms to Develop Data-based Services

SEOUL, Aug. 21 (Korea Bizwire) — South Korea’s major telecom operators are expanding cooperation with financial firms for data-based services, industry officials said Friday, as they seek new businesses based on their troves of user data after changes to the country’s data privacy laws. Earlier this month, amendments to the Personal Information Protection Act came [...]

Financial Firms Can Allow Employees to Work from Home

Financial Firms Can Allow Employees to Work from Home

SEOUL, Feb. 26 (Korea Bizwire) — South Korea’s financial authorities said Wednesday that financial companies can allow their ordinary employees to work from home during emergencies amid the spread of the new coronavirus. The Financial Services Commission informed the financial companies of its decision earlier this month. The move is designed to ensure financial services [...]

Financial Firms to Spend 585 bln Won to Adopt New Technologies

Financial Firms to Spend 585 bln Won to Adopt New Technologies

SEOUL, May 14 (Korea Bizwire) — South Korean financial firms plan to spend a total of 585 billion won (US$492 million) this year to adopt new technologies, such as artificial intelligence and big data analytics, data showed Tuesday. The planned spending reflects efforts by financial authorities to take deregulatory actions and cut red tape to [...]