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S. Korea’s Private Consumption Grows at Steepest Rate in 7 Years

S. Korea’s Private Consumption Grows at Steepest Rate in 7 Years

SEOUL, Jan. 27 (Korea Bizwire) — South Korea’s private consumption grew at the fastest rate in seven years in 2018, data showed Sunday. According to the Bank of Korea, South Korea’s private consumption grew 2.8 percent in 2018, marking the highest figure since the 2.9 percent posted in 2011. The country’s growth in terms of [...]

S. Korea’s Market for Performing Arts Grows 23 pct in 2018

S. Korea’s Market for Performing Arts Grows 23 pct in 2018

SEOUL, Jan. 7 (Korea Bizwire) – South Korea’s market for performing arts grew 23 percent last year from a year earlier driven by solid performances by musicals and K-pop concerts, data showed Monday. Interpark, an online shopping mall and leading ticket distributor, said the total 2018 ticket sales for performing arts came to 544.1 billion [...]

Banks Post 20 Trillion Won in Interest Income, but Corporate Growth Slows

Banks Post 20 Trillion Won in Interest Income, but Corporate Growth Slows

SEOUL, Aug. 20 (Korea Bizwire) — Listed companies showed slower growth in net profits in the first half of the year, while banks raked in approximately 20 trillion won in interest fees alone. As the growth rate of listed companies was smaller, banks enjoyed a boom with interest income proving to be a significant driver [...]

P2P Lending Associations Create Regulations Aimed at Survival

P2P Lending Associations Create Regulations Aimed at Survival

SEOUL, Aug. 14 (Korea Bizwire) — With worry that peer-to-peer (P2P) lending financial corporations are on their last legs continuing to grow, two P2P associations that are leading the industry have each come up with their own regulations to be announced within the month. The Korea P2P Finance Association, a group that currently has 60 [...]

Kakao Bank Logs Rapid Growth in the Year Since its Launch

Kakao Bank Logs Rapid Growth in the Year Since its Launch

SEOUL, Jul. 23 (Korea Bizwire) — Kakao Bank, South Korea’s second Internet-only bank, has posted rapid growth in its customer base and assets since its launch a year ago to overtake the country’s smallest regional lender, data showed Monday. Kakao Bank, controlled by Kakao Corp., the operator of South Korea’s dominant messaging app KakaoTalk, started [...]

VistaJet Operates Record Number of Flights as Members Increase by 32% in First Half of 2018

VistaJet Operates Record Number of Flights as Members Increase by 32% in First Half of 2018

LONDON, Jul. 11 (Korea Bizwire) —  VistaJet, the first and only global business aviation company, continued to gain substantial market share around the world during the first half of 2018. Driven by the sustained demand for the Company’s flagship Program subscription model, new Members rose by 32% year-on-year, with Europe doubling the number of new contracts [...]

S. Korean IT Firms Setting Eyes on Car-sharing Services

S. Korean IT Firms Setting Eyes on Car-sharing Services

SEOUL, Apr. 9 (Korea Bizwire) — South Korea’s IT firms are tapping deeper into the car-sharing industry, market watchers said Sunday, as demand for such services is expected to grow sharply over the upcoming years. According to the data compiled by Navigant Research, the global market for car-sharing services is expected to grow 21.8 percent [...]