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Reporter : Lee Yeon-woo
Tue, September 26, 2023 | 01:06
Will deposit insurance cap be raised?
Discussions are gaining momentum around the idea of raising the cap on the country's state-led deposit insurance coverage, which has remained at 50 million won ($38,270) per person since 2001. According to sources and media reports, the Korea Deposit Insurance Corporation (KDIC) held closed-door meetings last Wednesday and Friday with banks, savings banks and insurance firms....
Internet-only banks tap into fandom culture to engage young customers
The country's internet-only banks are rolling out new services targeting K-pop fans, weaving fandom culture into their savings products. This initiative is seen as a strategic move to attract and secure younger customers who show significant interest in K-pop idols.
JB Financial Group vows to be 'small yet strong' on 10th anniversary
JB Financial Group aims to evolve into a small yet highly profitable financial group, according to a long-term plan announced last Saturday at a ceremony marking its 10th anniversary in Muju County, North Jeolla Province.
Korean chipmakers forecast delayed export recovery: BOK
Korean semiconductor firms anticipate that a full recovery in exports could prove to be challenging, and possibly will only be achieved during the latter half of next year despite China's reopening, according to a report released by the Bank of Korea (BOK), Monday.
Korean households spend more on tutoring than food, housing
Kim, a housewife in Seoul who asked to be identified only by her surname, has recently found herself clashing with her husband over tutoring expenses for their 13-year-old child.
Korea, Japan to discuss currency swap after 8-year suspension
Finance ministers of Korea and Japan will resume their annual bilateral meeting this week in Tokyo. Cooperation in the financial and foreign exchange sectors, possibly including a Korea-Japan currency swap, is expected to be discussed.
[INTERVIEW] Fintech can be key to accelerating energy transition
The importance of renewable energy is being highlighted more than ever. Like other major economies, Korea has set a goal to increase the proportion of renewable energy in its portfolio to 21.6 percent by 2030.
Pension payouts to exceed revenues by 2027
Korea's record low birthrate is expected to reduce the number of contributions to the state-run retirement pension by approximately 860,000 over the next five years, while the number of pensioners will increase by 2.4 million during the same period.
BOK wants '10-won bread' to stop looking like money
Makers of Gyeongju's “10-won bread,” a popular street food shaped like a Korean 10 won coin, are facing pressure from the Bank of Korea (BOK) to change its design.
Growing financial pressure spurs early withdrawals from youth savings schemes
One out of four subscribers of the installment savings product introduced during the previous Moon Jae-in administration has closed their account, according to data from the Financial Supervisory Service (FSS).
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