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April 04, 2022
Kakao Bank tops in worker productivity
...ir peers at the country’s four banking giants, data showed Friday. A Kakao Bank employee was estimated to have earned 349 million won ($280,000), higher than the average figures for Hana Bank and Shinhan Bank, at 315 million won and 271 million won, respectively. Worker productivity o...
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April 01, 2022
S. Korea’s crypto market on path to gain more legitimacy
... the market. The KFB’s most notable members include the top five commercial banks -- KB Kookmin, Shinhan, Hana, Woori and NongHyup -- alongside the online-only KakaoBank and K bank. Traditional banks...inancial services. But they have been nonetheless actively seeking to get a foot...
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March 29, 2022
Banks raise loan limits as household debt growth curbs
...h has recently shown signs of slowing down. As of Monday, the top four banks here – KB Kookmin, Shinhan, Hana and Woori – have either started raising the limits for its overdraft accounts or its most... accounts, including Hana 1Q Credit Loan, which it raised to 150 million won earli...
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March 22, 2022
Korean banks expand financial services for foreigners
...Group, a more regional business compared to the four major commercial banking groups here -- KB, Shinhan, Hana and Woori -- but nonetheless has a strong network across the nation and overseas. The gr...said on condition of anonymity. “But we’re making efforts to change that,” the e...
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March 21, 2022
Average pay at top 4 banks exceeds W100m for first time
...nd fee revenue, data showed Sunday. Bankers under the four commercial banks here -- KB Kookmin, Shinhan, Hana and Woori -- received an average of 105.5 million won last year, 7.6 percent up from the ...2019. By bank, KB Kookmin handed out the highest average annual salary at 112 milli...
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March 21, 2022
Banks use AI to enhance customer experience
...he panel’s advice, were well received by customers, according to the official. Meanwhile, rival Shinhan Bank is also deploying artificial intelligence to help customers open accounts, handle savings ...for those services – the most sought after ones among other services we also plan ...
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March 10, 2022
No. of female outside board members at large companies grows, but few CEOs
... Shin-a and Kim Chul-yeon, respectively. Both Chung and Kim are their company’s first female CEOs. The nation‘s financial sector also welcomed only two women to the top bankers’ club this year. Shinhan Financial Group appointed Cho Kyung-seon as CEO of the group’s IT unit Sh...
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March 07, 2022
Hana chief becomes highest-paid banking CEO in 2021
...is peers, with KB Financial Group Chairman Yoon Jong-kyoo ranking No. 2 with 1.7 billion won and Shinhan Financial Group Chairman Cho Yong-byoung No. 3 with 800 million won. Woori Financial Group has...t 880 million won. His total income declined on-year from the previous 2.6 billion w...
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March 03, 2022
Korean asset managers start suspending Russian funds
...soon as “market conditions allow,” and did not elaborate further. Following Hanwha’s footsteps, Shinhan Asset Management decided to freeze assets of four of its Russia-exposed funds, following an eme... 10 billion won, along with two other less Moscow-exposed funds. The two Russia-f...
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February 28, 2022
Market regulators, banks mull Ukraine contingencies
...Russia,” an official at Woori Financial Group said. Rival companies like KB Financial Group and Shinhan Financial Group said they too stepped up market monitoring and efforts to inform their customer...r customers to be cautious until the local stock market sees reduced volatility,” ...
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February 27, 2022
Korean youths flock to state-backed savings account
... requires applicants to submit a monthly payment of 500,000 won for a 2-year term with an annual yield of some 10 percent. The product is sold via major commercial banks here including KB Kookmin, Shinhan, Hana, Woori and NongHyup until March 4. The rare high yield savings account is b...
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February 23, 2022
Amid digitalization drive, banks expand offline services for wealthy
...branches and replacing them with mobile and artificial intelligence-based services. On Tuesday, Shinhan Financial Group said it upgraded and rebranded two of its wealth management centers in Seoul to...rebranded centers in Gangnam and Seoul Finance Center, located in central Seoul, are...
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February 17, 2022
Corporate donations exceed W40b for Korean athletes at Beijing Olympics: FKI
...ound. Donations were made mostly through related sports associations, with the Korea Ski Association receiving the largest amount of 12.64 billion won from 22 companies, including Lotte Group and Shinhan Financial Group. The Korea Ice Hockey Association was given 9.63 billion won from...
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February 16, 2022
No breakthrough in talks to turn post offices into banking branches
...nk shuttered 225, coming in at No. 2, in the five-year period. The big four banks -- KB Kookmin, Shinhan, Hana and Woori -- closed a combined 60 percent of the total 1,507 branches. But in the meanti...enience stores and supermarkets. The partnership is still in its early stages with o...
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February 15, 2022
Financial watchdog to step up crackdown on Big Tech
...branches and automatic teller machines. According to separate data compiled by the FSS, the number of offline branches operated across the country by the four major banks here –- KB Kookmin, Hana, Shinhan and Woori -– decreased by 203 on-year as of end-September 2021 to 3,203. Pointi...
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February 14, 2022
Hana eyes stronger earnings, shareholder value under new chief
... percent higher than the previous trading session. But Meritz Securities, a local brokerage, set its target price at 63,000 won, explaining that it is still being undervalued than its peers -- KB, Shinhan and Woori -- and therefore, has more room to grow. “Despite the leverage effect ...
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February 14, 2022
Banking giants set to deliver record dividends
...h dividends for their highest net profits made last year thanks to a pandemic recovery, officials said Sunday. Total dividends from the four companies -- KB Financial Group, Hana Financial Group, Shinhan Financial Group and Woori Financial Group -- are estimated to be 3.8 trillion won ...
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February 14, 2022
Big 4 banking groups post record earnings on lending growth
South Korea’s top four major banking groups -- KB, Shinhan, Hana and Woori -- saw their combined earnings last year hit a record high, largely buoyed by robust interest and commission income. Accord...ting record net profit of some 4 trillion won, up 17.7 percent compared a year ago. Ba...
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February 09, 2022
[Newsmaker] Hana Financial taps man behind successful transition after KEB merger as new chief
...osecution earlier demanded a three-year jail term and a 5 million won ($4,200) fine. The ruling will be made on Feb. 25. Industry watchers expect Ham to win both legal battles, citing precedents. Shinhan Financial Group Chairman Cho Yong-byoung, who was indicted in 2018 on charges of h...
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February 07, 2022
Financial firms to pay out record bonuses on upbeat earnings
...orth 300 percent of their monthly salaries plus some 1 million won ($830), according to industry sources. The nation’s No.1 commercial bank by performance, KB Kookmin Bank and its long-time rival Shinhan Bank both decided to hand its employees bonuses equivalent to 300 percent of thei...
November 24, 2024
