SEOUL, Jun. 23 (Korea Bizwire) – Nearly 170 employees of banks and other financial firms embezzled around 180 billion won combined (US$122.21 million) over the past six years, but less than 10 percent has been retrieved, data showed Sunday. According to the data from the Financial Supervisory Service (FSS), a total of 168 officials from [...]
SEOUL, Oct. 18 (Korea Bizwire) — More foreign financial firms than expected have expressed their intentions to directly participate in the South Korean foreign exchange market, the country’s currency authorities said Wednesday. According to the Bank of Korea, some 30 overseas financial institutions seek to register with the country’s foreign exchange authorities for the trading [...]
SEOUL, Sept. 20 (Korea Bizwire) — The number of offline offices run by financial firms in South Korea declined more than 1,000 over the past year as the use of mobile services spiked amid their fast transition to digitalization, data showed Tuesday. Local financial companies, including banks and insurers, had run a total of 15,924 [...]
SEOUL, May 29 (Korea Bizwire) — More than 170 employees from banks and other financial firms have embezzled more than a combined 100 billion won (US$79.62 million) over the past five years, but about a mere 11 percent has been retrieved, data showed Sunday. Calls have grown recently for financial firms and authorities to strengthen [...]
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 [...]
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 [...]
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 [...]
SEOUL, Jul. 22 (Korea Bizwire) — An increasing number of South Korean finance and investment companies are going beyond preferring suits and ties to allow employees to wear the clothes of their choice. Many finance firms are introducing the new policy to reflect the fact that taking off a tie helps to drop perceived body [...]
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 [...]
SEOUL, Aug. 29 (Korea Bizwire) — Hundreds of young people thronged a major job fair for banks and financial firms on Wednesday to boost their chances of employment ahead of the industry’s official recruitment session due later this year. The job fair jointly organized by 59 companies, including 14 banks, nine securities firms, eight credit [...]