The bank debt of millennials and Generation Z -- together including those born from the 1980s forward -- spiked as they increased investments in real estate, stocks and cryptocurrencies, data showed Thursday. According to the Financial Supervisory Service data released by Rep. Kim Han-jeong of the Democratic Party of Korea, millennial and Gen Z household debt from local banks surged to 26 trillion won ($22.7 billion) in March, up 4.47 trillion won from a year ago. Home-backed lending increased

Economy July 8, 2021

The emergence of the “MZ generation” -- those born in the 1980s and ‘90s -- has brought significant change in South Korea’s financial landscape, pushing its conservative players to navigate uncharted territory in the technological era. Financial institutions are embracing the technological shift from physical space to digital sphere with big-name bankers experiencing the virtual world via VR headsets and holding executive meetings in “metaverse” online setti

Market July 3, 2021

South Korea’s National Tax Service has joined a nonprofit European tax body in a bid to enhance cooperation with member countries and provide policy support for local companies making forays into the European market. The Intra-European Organization of Tax Administrations approved South Korea’s entry as an associate member -- the first in Asia -- at the 25th General Assembly held through video conferencing from Wednesday to Friday. The IOTA consists of 44 member countries from the

Economy July 2, 2021