PYMNTS-MonitorEdge-May-2024

south korea

South Korea, an East Asian nation on the southern half of the Korean Peninsula, shares one of the world’s most heavily militarized borders with North Korea. It’s equally known for its green, hilly countryside dotted with cherry trees and centuries-old Buddhist temples, plus its coastal fishing villages, sub-tropical islands and high-tech cities such as Seoul, the capital.

Source: en.wikipedia.org

Robot Waiters Delight Korea’s Restaurants but Not Its Robotics Firms
Robot Waiters Delight Korea’s Restaurants but Not Its Robotics Firms
August 27, 2023  |  artificial intelligence

Robot waiters from China have become popular with Korean restaurateurs dealing with a labor shortage. Less enthused about the autonomous servers, the Financial Times (FT) reported...

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Online Retailer Coupang Reports 10% Growth in Active Customers
Online Retailer Coupang Reports 10% Growth in Active Customers
August 09, 2023  |  Earnings

Coupang Inc., the South Korean online retailer known for its early and one-day delivery, posted its fourth consecutive quarterly profit, driven by efficiencies in logistics and...

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Real-Time Payments Taking Hold From South Africa to Sweden
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August 01, 2023  |  Real-Time Payments

The real-time payments landscape is constantly changing. Growth in adoption and transaction volume has been measured across the continents. With the U.S. Federal Reserve’s launch...

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South Korea OKs First Banking Expansion in 30 Years
South Korea OKs First Banking Expansion in 30 Years
July 05, 2023  |  Bank Regulation

South Korea has launched a major expansion of its banking sector, currently dominated by just five lenders. The country’s Financial Services Commission (FSC) announced Wednesday...

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Kream’s Series C Funding Round Boosts Valuation to $742 Million in Reselling Marketplace 
Kream’s Series C Funding Round Boosts Valuation to $742 Million in Reselling Marketplace 
March 23, 2023  |  Retail

Luxury resale platform Kream has secured $168 million in a Series C funding round, valuing the company at approximately $742 million, doubling its previous value of $306...

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South Korea Leads World in Per Capita Spending on Luxury
South Korea Leads World in Per Capita Spending on Luxury
January 13, 2023  |  Retail

South Korea reportedly leads the world in per capita spending on personal luxury items. The country’s citizens spend $325 per capita each year on these...

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Crypto Exchange Binance Aiming to Buy South Korea’s Gopax
Crypto Exchange Binance Aiming to Buy South Korea’s Gopax
January 02, 2023  |  Cryptocurrency

Crypto exchange Binance has almost completed its acquisition of South Korean exchange Gopax.  Binance has completed due diligence, is now in the final steps of...

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Coupang Builds Momentum With ‘Milestone’ Q3 Profit
Coupang Builds Momentum With ‘Milestone’ Q3 Profit
November 10, 2022  |  Retail

South Korean eCommerce platform Coupang reported its first-ever profit Wednesday (Nov. 9), a landmark the company attributed to its investments in technology. “We achieved another...

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Korean Regulators to Probe Stablecoin, Money Laundering Link
Korean Regulators to Probe Stablecoin, Money Laundering Link
October 24, 2022  |  AML

In a bid to stop money launderers, South Korea’s Financial Services Commission (FSC) is planning a probe into the amount of stablecoins being used on...

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