Category: Korea

May 08 2025

Hong Kong, Korea, Mainland, Stocks

Abolition of MPF Offsetting Mechanism in Hong Kong

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From 1 May 2025, in respect of Hong Kong’s MPF scheme, the MPF offsetting mechanism will be abolished, meaning that employers no longer will be …

May 08 2025

Hong Kong, Korea, Mainland, Stocks

Hong Kong media outlet Channel C says bank account frozen, offers refund process for patrons

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Local media outlet Channel C has announced that it cannot access its bank account and has offered a refund process for its paid members. “As our company’s bank account has...

May 07 2025

Hong Kong, Korea, Mainland, Stocks

Hong Kong insurer AIA’s CIO warns of “paradox of thrift” in retirement saving

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Hong Kong insurer AIA’s investment chief said retirement savings are important to ensure sustainability of a pension system but warned that a “paradox of thrift” could be a drag on...

May 06 2025

Hong Kong, Korea, Mainland, Stocks

MPF offsetting abolished

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The abolition of the Mandatory Provident Fund (MPF) offsetting arrangement took effect today. This means employers can no longer use the accrued benefits of their mandatory MPF contributions to offset...

May 03 2025

Hong Kong, Korea, Mainland, Stocks

Hong Kong employers warned against replacing staff with new recruits: reports

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Employers across Hong Kong have been advised against replacing their existing staff with new recruits following the abolishment of the offsetting mechanism under the Mandatory Provident Fund (MPF) …

May 03 2025

Hong Kong, Korea, Mainland, Stocks

Hong Kong minimum wage rises to HK$42.10 as use of pension funds for severance pay ends

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Hong Kong has raised its statutory minimum wage to HK$42.10, coinciding with the official end of a controversial arrangement that allowed firms to dip into pension funds for severance payments....

May 02 2025

Hong Kong, Korea, Mainland, Stocks

Fired, rehired? How Hong Kong bosses plan to save money as MPF mechanism ends

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Employers can no longer dip into staff pensions to cover severance and long-service payments, as firms deploy strategies to mitigate impact.

May 02 2025

Hong Kong, Korea, Mainland, Stocks

iFast slips despite 31.2% higher net profit in 1QFY2025; analysts cut targets

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Fast chairman and CEO Lim Chung Chun said he “did expect some negative reaction on the share price” but the 12% drop on April 28 was greater than expected.

May 01 2025

Hong Kong, Korea, Mainland, Stocks

Putting Hong Kong’s workers first on this Labour Day

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A minimum wage rise and the end of employer rights to claw back contributions from pensions for severance and long service are taking effect Unlike previously, when May 1 was...

Apr 30 2025

Hong Kong, Korea, Mainland, Stocks

iFast plunges 12% after cutting its Hong Kong profit guidance

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SINGAPORE] iFast shares plunged as much as 12 per cent on Monday (Apr 28) morning, after the investment platform operator revised its Hong Kong operations’ profit target and reported first-quarter...