South Korea
South Korea card payments up 7% in July despite COVID resurgence
South Korea card payments up 7% in July despite COVID resurgence
Online card payments are 28% higher than in July 2020.
Citi opens new office at Busan International Finance Center
It’s meant to further support its securities services operations in Busan.
South Korea’s Kakao Bank to raise over $2.2b in IPO
Shares were priced at the top end, at KRW39,000 ($34).
Mortgage loans drive up South Korean banks’ household loans in June
They also set a fresh record for half-year increase in household loan value.
South Korean banks to tighten fresh lending in Q3
Rising household credit risks and tougher lending rules put a damper on lenders’ plans.
South Korean incumbent banks’ profits at risk as Kakao Bank expand loan services
The internet-only bank plans to launch mortgages and merchant loan products.
Chart of the Week: South Korean card payments to grow 4.9% through 2024
Average frequency of use is 136.2 times in 2020, higher than in France, US, and UK.
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