Korea Times Finance Reporter
Hello, I am Jun Ji-hye, a reporter at The Korea Times. I primarily cover financial authorities and write articles on a wide range of topics related to finance and capital markets. If you have any information to share, feel free to email me at jjh@koreatimes.co.kr, and I will review it carefully. I am committed to always doing my best to communicate with readers through high-quality articles.
The Financial Supervisory Service (FSS) is considering an organizational restructuring to improve oversight of e-commerce platform operators following significant cash flow issues with TMON and WeMakePrice, according to political and financial sources, Thursday. These issues caused delays in payments to vendors and subsequently caused setbacks in refunds to customers.
Kbank's second attempt to list on the country's main exchange, KOSPI, is facing numerous challenges, increasing the likelihood that one of the high-profile initial public offerings (IPO), scheduled for the latter half of this year, may not go according to plan following a failed attempt last year.
Special police officers at the Seoul Metropolitan Government warned of an increase in virtual asset-related fraud Monday, highlighting that crimes targeting older adults and homemakers have surged. These groups are particularly vulnerable due to their limited knowledge of virtual assets.
All eyes are on whether cash-strapped TMON and WeMakePrice will be able to seek debt restructuring on their own after the Seoul Bankruptcy Court approved an autonomous restructuring support (ARS) program for the two e-commerce platforms on Friday.
Financial authorities are considering a plan to decouple payment gateway services from e-commerce companies following the liquidity crunch at TMON and WeMakePrice that has caused delays in payments to sellers and refunds to customers, according to government sources, Sunday.
An increasing number of non-life insurers have been restructuring despite their positive performances in recent months. This is interpreted as a move to improve workforce structure to respond to rapidly changing management environments such as digital transformation.
The use of contactless payments, including credit and debit cards with contactless features and smartphones with digital wallets, has surged significantly over the past year in Korea, according to a survey released by global e-payment giant Visa, Wednesday.
World Bank President Ajay Banga has expressed expectations that the international financial institution's new Korean vice president, who will be in charge of its digital transformation, will play a key role in assisting the growth of developing nations through digital technologies.
Kim Byoung-hwan was officially appointed by President Yoon Suk Yeol as the chief of the Financial Services Commission (FSC), Wednesday, becoming the youngest leader of the country's top financial regulator.
Ku Young-bae, the embattled founder and CEO of Singapore-based Qoo10, who is at the center of a snowballing payment and refund delay crisis involving two Korean e-commerce platforms, vowed to offer "everything I have" to address the severe cash crunch facing the companies.