Money | BusinessKorea

Wednesday, March 21, 2018


A customer makes a payment with a payment-enabled glove at a store. (photo courtesy: Lotte Card)
Wearable Cards
21 March 2018 - 9:45am
All eyes are on whether “wearable credit cards,” which became a hit during the 2018 Winter Olympics in PyeongChang in South Korea, will be able to gain ground in the domestic market even after the...
South Korea’s card issuers are tapping into global markets as a way to solve worsening business environments.
Card Companies Going Overseas
20 March 2018 - 10:45am
According to credit card industry sources on March 19, South Korea’s card issuers are tapping into global markets as a way to solve worsening business environments including lower commission rates of...
South Korea’s major securities companies’ underhanded competition in the investment banking (IB) sector is getting fierce before the launch of mega IBs.
Expanding Commercial Loans
20 March 2018 - 10:45am
South Korea’s major securities companies have greatly expanded commercial loans last year as their underhanded competition in the investment banking (IB) sector is getting fierce before the launch of...
Financial Services Commission of South Korea will come up with comprehensive measures to utilize and protect data in the financial sector.
Easier Access to Big Data
20 March 2018 - 10:30am
The government announced that it will allow private firms to gain access to big data in the financial sector. It will provide data collected by public financial institutions to small and mid-size...
Short-selling stocks of Celltrion were offered almost every day to March 14 from February 9 when the company moved to the KOSPI market.
Tightened Regulations Needed
16 March 2018 - 1:00pm
Celltrion, which relocated to the KOSPI market from KOSDAQ market due to short selling, is still suffering from short selling at the KOSPI. More than 10,000 people have filed petitions on the website...
The Financial Supervisory Commission (FSC) of Korea will significantly expand the scope of eligibility for major shareholders of financial companies.
Targeting Real Owner of Financial Companies
16 March 2018 - 10:45am
The Financial Supervisory Commission (FSC) of Korea announced on March 15 that the financial watchdog will include not only Lee Kun-hee, chairman of Samsung Electronics but his son, Lee Jae-yong,...
The Korean government is trying to to promote the blockchain technology apart from regulations to secure soundness of cryptocurrency transactions.
More Time Needed
14 March 2018 - 9:15am
Amid the South Korean government announcing plans to support blockchain technology development, it seems to need some more time to allow initial coin offerings (ICO). At a briefing session on IT and...
The Vietnamese government allowed Lotte Card to acquire 100% shares of Vietnamese retail banking company Techcom Finance.
First Korean Credit Card in Vietnam
13 March 2018 - 10:30am
Lotte Card announced on March 12 that the Vietnamese government allowed it to acquire 100% of Techcom Finance shares. By taking over the local retail banking company, Lotte Card has become the first...
Some of major Korean companies are actively going ahead with overseas initial coin offerings (ICO).
Instead of IPO
12 March 2018 - 10:30am
The overseas initial coin offering (ICO) market is attracting much attention. The overseas ICO market shows the development of new virtual currencies and related projects and raises funds online....
Domestic card companies are absorbing the increase of 0.1 percent among the 1.1 percent of commission charge for the usage of overseas payment networks applied by Visa from January last year.
Dispute with Visa
12 March 2018 - 9:30am
An increasing number of South Korean card issuers are saying they have no chance against winning a complaint with the Fair Trade Commission (FTC) against Visa Card for its unilateral decision to...
The result of acquisition battle for ING Life Korea will encourage additional M&As in the insurance industry.
Changing Insurance Landscape
12 March 2018 - 8:30am
According to financial industry and investment banking (IB) industry sources on March 11, KB Financial Group has joined a takeover battle for ING Life Insurance Korea and is to have a second leg with...
KEB Hana Bank is going forward with the acquisition of a stake in the BIDV and was reportedly close to cutting a deal.
Aggressive Expansion
9 March 2018 - 10:30am
The Hana Financial Group significantly expanded its financial business in Vietnam by acquiring a stake in the Bank for Investment and Development of Vietnam (BIDV), one of Vietnam's four state-run...


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