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Reporter : Anna J. Park
Tue, May 30, 2023 | 19:58
Gov't expected to ease rules on dollar remittance
The Korean government is mulling over whether to lift its long-held restrictions on foreign currency remittance as early as the second half of next year. The move comes as the government aims to enact a new legal framework regarding foreign exchange transactions better suited to global trends and standards.
Average salary at major banks exceeds $80,000
The average annual salary of employees at five major local banks - KB Kookmin, Shinhan, Hana, NongHyup and Woori - has exceeded the 100-million-won ($80,500) mark, according to data submitted to ruling People Power Party lawmaker Rep. Yun Chang-hyun on Sunday.
FSS cooperates with savings banks to improve internal control
Regulatory authorities have come up with measures to prevent financial accidents and improve internal controls at savings banks, particularly in the areas of project financing (PF) loans, private business loans and capital management. The Financial Supervisory Service (FSS) announced the measures on Sunday, explaining that it recently formed a task force with the Korea Federa...
Coca-Cola Korea appoints new chief
Coca-Cola Korea Company announced Thursday that it has appointed Jung Ki-sung as its new chief. His promotion to the head position was attributed to his vast experience within the company, as he is evaluated to have contributed to the firm's business growth. Since joining Coca-Cola Korea back in 2000, Jung served in various roles at the company over two decades. Jung started ...
UAE-based investment firm Enspire expands into Korean market
Dubai-headquartered global investment group Enspire has officially launched its Korean operation, aiming to strengthen investments in the country's various sectors. The firm has also appointed Shin Yung-sook, a veteran entrepreneur in the fields of computer security and outbound trade consulting, as CEO of the Korean branch, named Enspire KSB Korea.
Samsung most searched company during CES 2023: KPMG report
Samsung is the most searched company in relation to the Consumer Electronics Show (CES) 2023, according to the latest Samjong KPMG report on this year's CES. The report utilized Google Trends to analyze keyword search patterns globally for six days from Jan. 3 to 9. The analysis also showed that Sony, AMD, ASUS and LG were among the top five keywords, following Samsung, durin...
Align Partners opposes Woori Financial's acquisition attempt
With regard to Woori Financial Group's plan to acquire Daol Investment, the country's top-notch venture capital firm, Align Partners, which holds about 1 percent of the financial group's shares, has voiced its opposition to the deal. After the venture capital firm was put up on the M&A market late last year, Woori Financial declared its intent to acquire the company to the fi...
FSC, FSS, banking association aim to restore pre-pandemic bank operation hours
Aiming to minimize customer inconvenience, the heads of financial authorities and the local bank association plan to normalize the country's bank operation hours to pre-pandemic standards. Since July 2021, banks nationwide have been operating from 9:30 a.m. to 3:30 p.m., which is an hour shorter than their previous operating hours of 9 a.m. to 4 p.m. before the pandemic.
Invest Seoul joins Hong Kong's Asian Financial Forum to promote local fintech industry
Invest Seoul, the city government's investment arm, will host a series of events in Hong Kong later this week to promote the city as Asia's financial hub and to facilitate networking for local fintech firms.
Digital medicine market to grow by 27% annually: KPMG report
More medical services will be available in the digital realm, meaning that diverse digital technologies ranging from software applications and games will be applied to practices for treatment and the prevention of diseases. Samjong KPMG's latest report, which analyzes investment and strategies concerning digital medicine, forecasts that the digital medicine market in Korea wi...