Mobile money, including banking and payments, is encroaching into the everyday life of the consumer. Monetising the business is still proving difficult, but thanks to the abundance of products available already, tangible business models are slowly emerging.

As South Korea's economy has developed in recent decades, its major companies have grown in tandem. However, as questions are raised about these companies' lack of contribution to Korean 'society' and concerns are aired over their over-importance to the country's economy, what does the future hold for the likes of Samsung?

Delegates at the annual Asian Development Bank meeting in Manila had their attention firmly focused upon another continent – Europe – and what the economic problems in the region may pose for its trade and financial activity in Asia. 

A combination of policy intervention in emerging markets and high residual risks in developed markets means volatility in emerging market currencies looks set to continue.

From drawn-out court cases to labour union strikes, the trials and tribulations of the multinational banks that have tried to invest in South Korea have left many observers with the impression that the country is hostile to foreign capital. 

South Korea has the second highest debt-to-disposable income ratio in the world, but Choongsoo Kim, governor of the Bank of Korea, insists that the country’s financial system is not at risk, and suggests that balancing the focus between export and domestic demand will lead to sustainable economic growth.

While South Korean manufacturers have achieved global success, the country’s banks have struggled to break out of the domestic market. The government is now looking to introduce new regulations aimed at boosting the international competitiveness of its financial institutions. 

While South Korea's commercial banks have just enjoyed a record year for earnings, any joy within the country's banking sector has been quelled by problems within its debt-saddled mutual savings banks.