SEOUL, Sept. 22 (Korea Bizwire) – Large general agencies (GAs) are expanding their sales power, employing more than 100,000 financial consultants and surpassing 10 percent market share. However, their cases of incomplete sales of insurance went up slightly. The Financial Supervisory Service (FSS) announced that as large GAs with more than 500 financial consultants are increasing [...]
SEOUL, Mar. 10 (Korea Bizwire) — Local private equity funds (PEFs) saw their combined assets under management soar more than 100-fold in the past 10 years as they have successfully attracted investors seeking higher investment returns, the financial watchdog said Tuesday. A total of 51.2 trillion won (US$45.9 billion) in assets were under management by [...]
SEOUL, Nov. 13 (Korea Bizwire) – Women in their 20s and 30s are reportedly known to be the most frequent victims of phishing scam, according to the Financial Supervisory Service. By region, people living in Seoul’s affluent Gangnam and Seocho districts are most easily fallen by the financial fraud. The financial regulator released a report on November 11 [...]
SEOUL, Sep. 25 (Korea Bizwire) – A study said that the so-called vulture capitalists have enriched themselves with a profit of 130 billion won for the past three years by taking over 15 firms with no capital investment. As of the end of July this year, a total of 500 billion won in market value [...]
SEOUL, Sep. 22 (Korea Bizwire) – More than a dozen business owners and family members of South Korea’s top conglomerates are under investigation for their possible violation of foreign exchange transaction rules, according to the local financial industry sources knowledgeable on the issue. South Korea’s Financial Supervisory Service (FSS) has launched a formal investigation into [...]