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Tue, June 19, 2018 | 06:03

Economy > Finance >

Self-employed alarmed by rising interest rates

As interest rates on loans are surging following a U.S. key rate hike, the self-employed, already suffering from a sluggish economy and soaring costs following the steep minimum wage hike, are facing snowballing burdens of paying back loans. Analysts warn that it could hamper economic recovery as well as cause trouble in the financial market if they have problems paying back ...

Finance | 2018-06-18 17:14

Banks eager to attract foreign customers

The nation's major banks are rushing to attract more foreign customers as the number of residents of Korea from overseas has surpassed 2 million. Banks have introduced various special financial services exclusively for foreign customers, including free wire transfers and even housing loans.

Finance | 2018-06-18 15:47

NH NongHyup, IBK to comply with US money laundering rules

Leading private lenders in Korea are beefing up measures at their headquarters in Seoul and at their New York branches to comply with U.S. money laundering rules in a pact reached with state and U.S. banking regulators.

Finance | 2018-06-15 15:33

Woori Bank set to buy Kyobo Securities

Woori Bank, the country's top-tier private lender, is in discussions with Kyobo Life Insurance to take over controlling stakes in Kyobo Securities, a deal of which the value was estimated at around $300 million (320 billion won), sources at two local private equity funds (PEFs) said, Wednesday.

Finance | 2018-06-13 17:47

Long-term perspective essential for inter-Korean shares

Inter-Korean stocks that had soared on the expectation they will benefit from economic development projects in North Korea are plummeting despite the historic summit between North Korea and the United States. Analysts say investors should make decisions based on a long-term perspective.

Finance | 2018-06-13 17:46

Fintech emerging as investment tool

An increasing number of retail investors are using fintech app platforms as an investment tool. To capitalize on this growing trend, fintech companies, which used to offer simple wire transfers or account checking services, have expanded their operations into investment and asset management by utilizing their convenient and fast financial service platforms.

Finance | 2018-06-12 16:54

Coinrail hacked, cryptocurrency worth W40 bil. lost

The nation's seventh-largest cryptocurrency exchange Coinrail was allegedly hacked over the weekend, and an estimated 40 billion won ($37.2 million) worth of coins were stolen.

Finance | 2018-06-11 17:20

Banks rolling out 'chatbots' to improve customer experience

The nation's major banks are rushing to roll out“chatbot” services, computer programs utilizing artificial intelligence (AI) that conducts a conversation via text. Offering an automated teller and loan service 24 hours a day, the AI-based chatbot service is expected to gradually replace manpower at banks.

Finance | 2018-06-11 17:18

Korea urged to reap benefits of blockchain and cryptocurrency tech

Korea has traditionally not been a major player in the international financial market but things are different when it comes to trading cryptocurrencies. Korea has been rather active in digital money as it is the world's third-largest cryptocurrency market by volume.

Finance | 2018-06-10 16:17

'Health promotion insurance' goes viral among workers

More than 600,000 people have bought a new health insurance product, which discounts the premium for policyholders who regularly work out to stay healthy, in two months since the nation's four major life and non-life insurance companies introduced the product in April.

Finance | 2018-06-08 17:56

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