SEOUL, Sept. 19 (Korea Bizwire) — Prosecutors questioned the CEOs of e-commerce affiliates TMON and WeMakePrice on Thursday as part of an investigation over massive payment delays to vendors on their platforms. TMON CEO Ryu Kwang-jin and WeMakePrice CEO Ryu Hwa-hyun appeared at the Seoul Central District Prosecutors Office for questioning on suspicions of embezzlement, [...]
SEOUL, Aug. 30 (Korea Bizwire) — The Bank of Korea (BOK) said Friday that it agreed to launch local currency transactions for cross-border payments in late September. Under the agreement, current account transactions between the two nations in their local currencies will be facilitated, and costs for businesses and other users will be reduced, they [...]
SEOUL, Jul. 25 (Korea Bizwire) — Payment delays by TMON and WeMakePrice, South Korean affiliates of Singapore-based e-commerce platform Qoo10 Group, were feared to deepen liquidity woes of sellers on the online marketplaces, according to some sellers Thursday. The e-commerce platforms have failed to pay money earned by sellers in May, particularly after Qoo10 Group [...]
MONTREAL, March 5(Korea Bizwire) – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, announces today that businesses operating in Australia can now access its full suite of market-leading payments solutions including acquiring, processing, alternative payment methods and risk management. Australian businesses operating locally and globally will benefit from Nuvei’s [...]
SEOUL, June 15 (Korea Bizwire) — A paid sick leave system guaranteeing 60 percent of the minimum wage as sick pay will go into effect next month for a one-year trial in six cities across the nation, Interior Minister Lee Sang-min said Wednesday. The minister made the remarks during a government COVID-19 response meeting, saying [...]
SEOUL, Dec. 7 (Korea Bizwire) — South Koreans are estimated to have spent more than 17 billion won (US$14.5 million) in purchasing contents by Disney+ less than a month since its launch here, data showed Tuesday. Payments to Disney+ in the country were estimated at 17.2 billion won for November, according to industry tracker WiseApp, [...]
SEOUL, Oct. 19 (Korea Bizwire) — Late night shopping at a local convenience store will now be possible without the help of staff – and you can leave your wallet at home, too. South Korean credit card company Shinhan Card Co., in tandem with BGF Retail Co., the operator of convenience store chain CU, recently [...]
SEOUL, Oct. 13 (Korea Bizwire) — South Koreans’ card payments to Netflix reached a fresh high of 46.2 billion won (US$40.2 million) last month, data showed Tuesday, a nearly twofold jump from a year earlier. An estimated 3.36 million people here spent the record amount in September on the popular video streaming platform, according to [...]
SEOUL, May 20 (Korea Bizwire) — Eight in 10 South Korean households have received emergency disaster relief funds now being paid by the government to the whole country to cope with the economic impact of the coronavirus outbreak, the Ministry of the Interior and Safety said Wednesday. On May 4, South Korea began paying out [...]
SEOUL, May 4 (Korea Bizwire) — South Korea on Monday began paying out emergency disaster relief funds totaling 14.3 trillion won (US$11.65 billion) to all households to cope with the economic impact of the coronavirus outbreak. The government plans to provide 1 million won each to households with four or more members, 800,000 won to [...]