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Heads of Financial Institutions Cut Their Wages to Employ More Young Workers

Heads of Financial Institutions Cut Their Wages to Employ More Young Workers

SEOUL, Sept. 14 (Korea Bizwire) – As more chiefs of financial firms are jumping on the wage cut bandwagon, high-ranking officials in financial circles are contemplating joining the trend. According to industry watchers, executives from three major financial holding companies including KB, Shinhan and Hana decided to cut their own wages. However, other financial firms are waiting [...]

Korean Card Firms Pay Nearly 200 bln Won in Fees to Foreign Card Brands in 2014

Korean Card Firms Pay Nearly 200 bln Won in Fees to Foreign Card Brands in 2014

SEOUL, Feb. 13 (Korea Bizwire) — South Korea’s credit card firms paid nearly 200 billion won (US$180.6 million) in fees to global credit card brands last year, virtually unchanged from the year before due to increased spending during overseas travel and online purchases from foreign shopping malls, a report said Friday. Local card issuers, led [...]

“App Card” Takes Ground by Illicit Transactions

“App Card” Takes Ground by Illicit Transactions

SEOUL, May 16 (Korea Bizwire) – The “app card,” which has been  touted as a new-generation mobile transaction system, has taken a hit from illicit transactions. In the meantime, Fraud Detection System (FDS) has proven its values once again. Samsung Card reported to the police and financial authorities on May 11 about some 300 cases of illegal [...]