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CEO & Publisher: Oh Young-jinDigital News Email: webmaster@koreatimes.co.krTel: 02-724-2114Online newspaper registration No: 서울,아52844Date of registration: 2020.02.05Masthead: The Korea TimesCopyright © koreatimes.co.kr. All rights reserved.

Naver Pay, Toss face scrutiny following Kakao Pay's transfer of customer data to Alipay

The Financial Supervisory Service (FSS), the country’s financial watchdog, is looking into Naver Pay and Toss to determine whether they have transferred personal credit information to third parties without receiving consent from customers.

Aug 18, 2024By Jun Ji-hye
Naver Pay, Toss face scrutiny following Kakao Pay's transfer of customer data to Alipay
  • Kakao Pay CEO to serve another term
  • Kakao Pay turns to black in Q2
  • Kakao Pay shares plummet amid data leak scandal

Financial groups' average salary hits nearly W100 mil. in H1

The average salary at the holding companies of Korea’s four largest financial groups — KB, Shinhan, Hana and Woori — amounted to nearly 100 million won ($73,500) in the first half of 2024, according to data released Friday by the companies.

Aug 17, 2024By Yi Whan-woo
Financial groups' average salary hits nearly W100 mil. in H1

Inaccurate earnings forecasts cast doubt on credibility of securities firms

Securities firms face doubts about the credibility of their earnings forecasts for listed companies, as the gap between actual and estimated earnings for several companies was significantly larger than expected in the second quarter.

Aug 16, 2024By Yi Whan-woo
Inaccurate earnings forecasts cast doubt on credibility of securities firms

Bureaucracy gets older along with society

The bureaucracy is aging at a sharper pace, in line with the fast-aging population of Korea, where one out of five citizens is anticipated to be aged 65 or older by 2025. Young people shunning civil service jobs are also accelerating the aging of the group.

Aug 16, 2024By Yi Whan-woo
Bureaucracy gets older along with society

Travel deficit soars to 6-year high in H1

Korea suffered its largest tourism-sector deficit in six years during the first half of 2024, as outbound Korean travelers spent far more than inbound foreign visitors, data showed, Thursday.

Aug 15, 2024By Yi Whan-woo
Travel deficit soars to 6-year high in H1

Financial authorities, insurers move to embrace more expats

Financial authorities and insurance companies in Korea are swiftly expanding services for international customers in response to the rapid growth of the foreign population, driven by an increase in the number of migrant workers.

Aug 15, 2024By Jun Ji-hye
Financial authorities, insurers move to embrace more expats
  • Will credit card payments for insurance premiums become available?
  • Korea's insurance M&A market stagnant due to failed deals
  • Why is insurance fraud rampant in Korea?

Toss achieves record revenue and first quarterly profit in H1 2024

Viva Republica, the operator of mobile financial service Toss, achieved a consolidated operating profit of 2.8 billion won ($2.06 million) in the second quarter of this year, the firm announced, Wednesday.

Aug 14, 2024By Lee Yeon-woo
Toss achieves record revenue and first quarterly profit in H1 2024

Kakao Pay shares plummet amid data leak scandal

Kakao Pay shares, which have already been hovering at record lows, are trending downward again following allegations that domestic consumer credit information was leaked to Alipay.

Aug 14, 2024By Lee Yeon-woo
Kakao Pay shares plummet amid data leak scandal
  • Naver Pay, Toss face scrutiny following Kakao Pay's transfer of customer data to Alipay

Why are entertainment shares plummeting?

The share prices of Korea's four major entertainment companies — HYBE, SM Entertainment, YG Entertainment, and JYP Entertainment — are continuing to fall well into 2024, despite the sustained global popularity of their artists.

Aug 14, 2024By Yi Whan-woo
Why are entertainment shares plummeting?

Korea's fiscal deficit exceeds W100 trillion in H1

The country's fiscal deficit exceeded 100 trillion won ($73.51 billion) in the first half of the year, driven by a fall in corporate taxes that largely make up the government's entire tax revenue, according to the Ministry of Economy and Finance, Wednesday.

Aug 14, 2024By Yi Whan-woo
Korea's fiscal deficit exceeds W100 trillion in H1
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