SEOUL, March 27 (Korea Bizwire) — South Korea’s financial regulator said Monday that local banks showed no signs of abnormality in their withdrawal and deposit operations. The assessment by the Financial Supervisory Service (FSS) came amid concerns of a global banking crisis following the recent failures of two U.S. banks — Silicon Valley Bank and [...]
SEOUL, Dec. 20 (Korea Bizwire) — The number of South Koreans who made an interim withdrawal from their retirement pension in 2021 to buy a home reached an all-time high, government data showed Monday, as the country’s housing prices have skyrocketed over the past couple of years. According to the data from Statistics Korea, 55,000 [...]
SEOUL, Feb. 10 (Korea Bizwire) — A group of luxury brands that have benefited from post-pandemic ‘revenge spending’ are withdrawing from downtown duty-free shops in South Korea, dealing a blow to related industries. Chanel, for example, decided to suspend the operation of its stores within the Lotte Duty Free branch in Busan and the Shilla [...]
SEJONG, Jan. 12 (Korea Bizwire) — The number of South Koreans who withdrew money from retirement pensions due to financial difficulties such as personal bankruptcies or rehabilitation reached an all-time high in 2020 amid coronavirus outbreak. The number of people who withdrew money from retirement pensions during the process of personal rehabilitation or bankruptcy totaled 7,110, consisting of 6,908 [...]
VALLETTA, Malta, Nov. 20 (Korea Bizwire) – OKEx (www.okex.com), a world-leading cryptocurrency spot and derivatives exchange, is pleased to announce that withdrawal services of all digital assets will be resumed on or before Nov. 27. As a security measure to safeguard users’ funds, withdrawals from the exchange were temporarily suspended on Oct. 16, with all other functions [...]