South Korea
Korea’s Shinhan Card vetting card numbering scheme following payment issues
Korea’s Shinhan Card vetting card numbering scheme following payment issues
There has been reports of unauthorized payments from its gift cards.
South Korean banks’ bad loans rise 0.23% in January
Bad loans to SMEs are on an uptick.
Gov't support, high vax rates buoy Korean banks’ asset qualities: Fitch
But increased competition in lending may give rise to risks in the long-term.
Industrial Bank of Korea fined $3.93m for selling fraudulent funds
IBK sold fraudulent funds of Discovery Asset Management, according to FSC.
South Korean banks’ mortgage rates hit highest level in seven years: report
The loan rate averaged 3.63% in December, 0.12 ppt higher than a month earlier.
South Korea completes first phase of digital currency feasibility test
The second phase of the test will be carried out until 22 June.
South Korea mulls easing restrictions on investing in fintech: report
The country’s top regulator shared plans to enact a new law on the matter.
South Korean banks' lending fell in December
This marked the first on-month decline for a month of December since 2004.
South Korea’s corporate loan growth quickened in Q3: report
This was thanks to a rise in loans made to the service sector during the period.
South Korean banks’ average mortgage rates hit three-year high: report
The 3.26% interest rate average is its highest since November 2018.
South Korean banks’ loan delinquency ratio up in August: report
The delinquency ratio has been on the decline since May 2018.
South Korea kicks off cash-back rewards program to boost card use
Card users can receive up to $85 in cashback rewards per month.
Chart of the Week: South Korea’s card payments market to reach $1.2t in 2025
Government incentives will support its continued growth.
Financial firms urge South Korean regulators to back off internal affairs
The firms represent the insurance, commercial banking, and brokerage sectors.
South Korean regulator nominee reject cryptocurrency as financial asset: report
Koh also reiterated his commitment to curb increases in household debt.
Citibank Korea postpones exit plan decisions until September —report
This marks the second delay in its exit plan decision.
South Korea card payments up 7% in July despite COVID resurgence
Online card payments are 28% higher than in July 2020.
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