Business
How South Korea is Primed for Fintech Growth
However, there may be signs that South Korea may be primed for fintech growth, particularly in sectors such as the forex market. But how will this unfold in the coming years?

At its core, South Korea is an incredibly tech-savvy nation that remains home to electronics titans such as Samsung and LG.
While the nation’s economy may be established as a consumer electronics behemoth, Korea continues to lag behind many of its rivals when it comes to the overriding financial system. More specifically, the banking sector has been slow to embrace the apparent benefits of fintech.
A keen sense of conservatism (caused by economic crisis’ in 1997 and 2008) has also hindered technological advancement in the region.
However, there may be signs that South Korea may be primed for fintech growth, particularly in sectors such as the forex market. But how will this unfold in the coming years?
1. The Evolution of Fintech in South Korea
In many ways, it’s the sustained evolution of fintech and the convenience provided by its solutions that have helped to overcome the government’s inherent conservatism. This has also helped win over public opinion, particularly in the digital and mobile banking sectors.
This has inspired several sweeping regulatory challenges in South Korea, with the country’s Financial Services Commission (FSC) having identified specific sectors to support in this respect.
Perhaps the most significant innovation has been seen in the payments space, which has seen exponential growth and relatively quick adoption.
Of course, this has been helped by Korea’s inherently high smartphone penetration, which has helped drive mobile payment solutions (such as Venmo), which allow transactions to be processed with a single password and click.
2. The Rise of Fintech Applications and in-app Services
One particular focus in regions like Korea is a forex, where fintech has had a dramatic impact over the last two decades.
Those who regularly access their live account through a smartphone or tablet will testify to this, while there’s no doubt that Asia is becoming increasingly dominant in the forex space.
To this end, three Asian hubs are now featured in the world’s top five foreign exchange centers, with Singapore leading this charge and ranked third behind Britain and the US.
Singapore holds an impressive 7.6% share of the global forex market, while the top five also includes Hong Kong (7.6%) and Japan (4.5%).
Beyond this, Korea may also follow the example set by China and similar Southeast Asia nations by building in additional services and verticals to its core fintech apps and solutions.
For example, Korea’s most widely-used chatting app Kakao has made a conscious effort to expand its reach and verticals to cover mobility, payments, and a raft of financial services.
Ultimately, these steps should stand South Korea in good stead in the future fintech market, as the nation finally starts to build on strong foundations to become a significant player in this fast-growing space.
Business
How Music Can Impact Your Customers’ Experiences Grocery Stores
As people are heavily influenced by music, it is important that, as a grocery store owner, you get the type of music right in your store. Why? Read on to find out!

There’s a lot that goes into sales in any store. The people in the store, the store’s layout, the lighting, the color scheme, and, of course, the music.
If you were to walk into a grocery store and there was no music playing, it would be unnerving, to say the least, and there is a reason why. When most people think of music playing in a store, they think of the general type of music and link it to the products in the store.
As people are heavily influenced by music, it is important that, as a grocery store owner, you get the type of music right in your store. Why? Read on to find out!
Table of Contents
1. Increase Sales
Research has found that the right kind of music will boost sales. It is true!
The most successful grocery stores use familiar-sounding background music to promote sales, and there is a reason why- it works! Music for business is not a new area, and having a set playlist is better than simply putting it on the radio. When customers hear music that is familiar, they will feel relaxed, and when they feel relaxed, they are more likely to purchase items.
2. Reduction In Complaints
Nobody likes complaints, especially in retail. It has once again been found that those familiar tunes which you can play in your supermarket have been linked to a reduction in complaints being made.
It has also been shown to impact how customers assess their time in the store. For instance, one study found that customers who were waiting and were surrounded by unfamiliar music described the store as being dirtier, the staff being ruder, and the waiting times being longer. In the same market setting, a set of customers who had familiar music being played reported, well, the opposite!
3. Impulse Purchases
The tempo of the music can impact the behavior of the buyers in your grocery store.
Ever wonder why faster-paced music is played around the holidays? This is why! Studies have found that when it comes to playing faster-paced music, shoppers were more likely to make more impulsive buys, upping sales in the store.
4. Brand Promotion
There is a reason why when you go into a higher-end grocery store, they are playing more classically themed music. Or, when you go into a grocery store that is full of health-based products, there is a reason why they usually play more relaxed music.
They are trying to build an association with their brand. So, if you are looking for the right kind of music to play in your grocery store, think about what it is that you sell. For generic grocery stores, something like easy listening or happy music will usually work to help get customers feeling good and relaxed enough to buy produce.
5. Atmosphere
You want to create a warm and welcoming atmosphere in your supermarket. One of the easiest ways to do that is with music, as even if the customers aren’t aware of the type of music that is playing consciously, they will still hear it and be impacted by it. In short, softer, happier music prompts relaxation and helps up general purchases, and, as before, faster music prompts impulse buys.
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