KoreaTimes(231) - Economic Essay Contest, Finance, page 4

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Finance

Economic Essay Contest

Mon, March 8, 2021 | 18:44

[Runner-up Award] Banks well-suited to lead changing financial environment

[Runner-up Award] Banks well-suited to lead changing financial environment

The first Korean currency was issued more than a thousand years ago. Back then, not much money was in circulation because nobody had faith in the value of currency. People could trade goods instead, so there was no urge to start using cash.

Lee Joo-young2016-11-15 17:18

[Grand Prize] Korean investment banking industry in need of deregulation, consolidation

[Grand Prize] Korean investment banking industry in need of deregulation, consolidation

Korea has been able to nurture and develop some of the largest and most profitable companies in the world. Samsung, LG, Kia, and Hyundai are brands that have influence all over the world. However, the one significant sector where Korean companies are lacking on the global stage is banking.

2016-11-15 17:15

[Commendation Award] Banks' strategies towards development of fintech

[Commendation Award] Banks' strategies towards development of fintech

The prima facie analysis of the rise of financial technology, or fintech, has altered the financial environment in the traditional banking industries by providing alternative strategies and business models in financial sectors.

Lee In-hyung2016-11-14 17:28

[Commendation Award] Don't change for the best; be best at change

[Commendation Award] Don't change for the best; be best at change

Modern banking has come a long way since the days of 17th century goldsmiths earning storage fees off people who just wanted a safe place for their precious metals.

Lee Won-hyong2016-11-14 17:25

[Grand Prize] Challenges of banks facing the next wave of technology innovation

[Grand Prize] Challenges of banks facing the next wave of technology innovation

The growth of technology has significant implications for banks. The traditional interaction model between bank and customer has been rapidly transformed as mobile phones get equipped with more and better functionality, and this trend seems to even accelerate its speed as the technology is developed at faster pace than ever.

Kim Hong-il2016-11-14 17:23

Wealth management emerging as growth driver for banks

Wealth management emerging as growth driver for banks

Advances in technology have generated a more sophisticated approach to examine the patterns of information, simple or complex. Understanding such “big data” or gigantic data sets has enriched daily lives from preventing diseases to combatting crimes. Financial sectors remain no exception. Banks now better understand their clients’ financial motives and interests through revie...

2015-11-09 18:37

Integration key to survival in fintech market for banks

Integration key to survival in fintech market for banks

Brunch, voluntourism and webisode. There is one common thing among these words. They are newly listed compound words in the Oxford English dictionary as the need for explaining them has arisen. Banks are no exception.

2015-11-09 18:35

Banks urged to embrace new technology to move forward

Banks urged to embrace new technology to move forward

Expounding upon South Korea's remarkable economic growth that pushed its status from a poor post-war country to one of the Asian Tigers now serves as a cliche; the rags to riches story of the country has been one recounted too often.

2015-11-09 18:31

Regulation, inefficiency, lack of expertise are hurdles for banks

Regulation, inefficiency, lack of expertise are hurdles for banks

Customers and clients are the mainstay of the Korean banks. This means that there is a direct correlation between the performance of the banks and the confidence of the users in the banks.

2015-11-09 18:27

Global strategies to reinvigorate banks

Global strategies to reinvigorate banks

South Korea was one of the countries hardest hit during the 1997 Asian Financial Crisis, but Korean banks reacted very effectively in the years following this crisis. They complied with economic reforms diligently to create greater transparency in financial systems and reduce interest rates. Banks thus played a part in stabilizing the country, leading to an annual GDP growth ...

2015-11-09 18:21

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