Search results for Korea Evaluation Information
Finance
Small business sales up 4.5 percent but margins fall for second straight quarter; delinquencies rise
South Korean small business sales rose 4.53 percent in the second quarter from a year earlier, but profit margins fell for a second straight quarter as expenses increased faster, a report by Korea Credit Data showed. Average revenue per business was 47.11 million won, while average spending rose 5.83 percent to 35.22 million won. Delinquent amounts on sole proprietors’ loans rose 4.3 percent from the previous quarter to 15.2 trillion won.
Finance
Digital asset cross-industry ties spread as top 4 financial groups post 11 trillion won profit era
Big Tech, financial firms and payment companies in South Korea are widening digital-asset initiatives by teaming up with global blockchain companies. Kakao Group and Toss and Toss Bank are working with Circle to review stablecoin-based payment and settlement infrastructure and tokenised financial services. Banks are developing cross-border remittance and payment models. Separately, the top four financial holding groups posted combined first-half net profit above 11 trillion won, while regulators step up group-level oversight of fintech expansion.
Finance
KakaoPay joins NH NongHyup Bank alternative credit scoring model development
KakaoPay will join a NH NongHyup Bank-led consortium to develop an alternative credit scoring model using MyData and payment and remittance information. The companies signed a multilateral memorandum of understanding on July 15 at NH NongHyup Bank\'s new building in Seoul, KakaoPay said on Wednesday. Participants will combine non-financial data, credit scoring modelling capabilities and AI technology to build a joint model for use in financial products.
