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Record High Credit Card Loan Balances in South Korea as Economic Woes Persist

Record High Credit Card Loan Balances in South Korea as Economic Woes Persist
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Finance industry looks to attract pet owners with new services, benefits

Pet lovers are spending more to take better care of their animals, prompting credit card companies and insurers to increase the number of benefits for their customers as well as launching products and services tailored to their needs.

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Woori, BC improve profits in overseas card business

As local card issuers struggle to seek new growth engines on foreign ground, a handful saw improvements in 2023. Making a surprise breakthrough overseas last year was Woori Card, which posted a cumulative net profit of around 6.25 billion won ($4.64 million) as of the third quarter through its foreign subsidiaries in Myanmar and Indonesia. The figure was up by almost 78 percent on-year. Driving the flourish was Woori.

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Hyundai Card s overseas usage skyrockets with Apple Pay partnership

Hyundai Card’s overseas usage has surged by 81 percent compared to a year ago, due mainly to the card s increased global payment versatility with its Apple Pay partnership that began in March this year.

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Major Korean banks seek to expand overseas operations

Korea s major commercial banks are set to actively strengthen their overseas businesses next year, aiming to significantly raise their profit shares from international markets, according to industry officials, Friday.

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