-
August 11, 2024
Meritz Fire joins protracted race for MG Insurance acquisition
...n almost a decade, following the group's takeover of I'M Investment & Securities in 2015. Meritz is a major financial group, ranked fourth in market capitalization behind banking holding firms KB, Shinhan and Hana. The state-run Korea Deposit Insurance Corporation, entrusted with the j...
-
August 06, 2024
Korean shares tank as global rout continues
.... "As worries about US semiconductor AI profits continue to worsen, even Nvidia has worsened investment sentiment and intraday losses are widening for both Samsung Electronics and SK hynix," said Shinhan Investment & Securities analyst Lee Jae-won. Japan’s Nikkei 225 nose-dived as mu...
-
August 05, 2024
Woori returns to investment banking after 10-year hiatus
... Woori Financial Group’s prestigious reputation in investment banking,” he said. With the addition of Woori Investment & Securities, all five top financial groups here -- Woori, KB Kookmin, Hana, Shinhan and NongHyup -- now have a brokerage arm. Woori Investment & Securities has set...
-
August 05, 2024
Shinhan Card launches joint venture with Kazakh autodealer Aster
South Korea's leading card firm, Shinhan Card, has strengthened its foothold in Kazakhstan's auto finance market by establishing a joint venture with the nation's top used-car seller Aster Auto. Shinhan Finance, the Kazakh unit of Shinhan Card, announced on Sunday the...
-
July 28, 2024
Shinhan Financial Group to enhance corporate value by 2027
Shinhan Financial Group on Friday unveiled a corporate value enhancement plan detailing specific targets and strategies to boost profitability. According to the plan, the financial giant aims to ach...ng the targets announced today, we are committed to enhancing value for all our stakeho...
-
July 23, 2024
Hanwha Asset Management unveils new ETF brand Plus
...associated with leading US stock indices.” Hanwha Asset Management currently manages at around 3.5 trillion won ($2.53 billion) in the local ETF market, taking up a market share of 2.27 percent. It has been closely competing with its peers Shinhan Asset Management which owns a market ...
-
July 16, 2024
Shinhan Bank CEO stresses tighter internal control for global expansion
Shinhan Bank CEO Jung Sang-hyuk called on the international subsidiaries to enhance customer trust and strengthen internal controls to boost global expansion, the bank announced Tuesday. "For Shinhan Bank to maintain steady growth and achieve lasting global recognition, we must...
-
July 05, 2024
Value-up Program optimism brings Kospi to two-year high
...ed 1.78 percent. It has risen more than 50 percent this year, showing the largest increase among financial stocks. With KB Financial Group leading the pack, other financial group stocks including Shinhan, Hana, BNK and JB also notched strong gains. Samsung Life Insurance gained over 3 ...
-
July 04, 2024
SK Square names new CEO to reshape investment portfolio
...ity. SK Square is reportedly generating profit by investing in chipmaking equipment, materials and parts companies in the US and Japan via TGC Square, an investment entity SK jointly created with Shinhan Financial Group and LIG Nex1. The investment firm was established in 2021 through...
-
June 25, 2024
Kakao Bank launches Dollar Box forex service
...ia its mobile messenger app. The daily limit for deposit and withdrawal is $5,000 and $10,000, respectively. Users can physically withdraw dollars in amounts ranging between $100 and $600 at five Shinhan Bank ATMs. In recent years, credit card arms of local financial groups have launc...
-
June 16, 2024
Banks ramp up services for growing foreigner market
...tering their services for foreigners to tap into the rapidly expanding foreign customer market. Shinhan Bank recently pioneered a service among local commercial banks that allows foreign residents in...ike an alien registration card or domestic residence registration card, can access t...
-
June 12, 2024
Shinhan Card partners with Canada's Alberta to boost tourism
South Korean card issuer Shinhan Card is collaborating with regional Canadian governments and state-run tourism promotion agencies for local tourist marketing, starting with Alberta. Shinhan Card, the card arm of Korean finance giant Shinhan Financial Group, announced...
-
June 03, 2024
Toss Bank outpaces bigger rivals in workers' pay
... five traditional commercial lenders. The average annual salary at these banks -- Kookmin, Hana, Shinhan, Woori and NongHyup -- rose to 112.65 million won, marking a 3.14 percent increase from the pre...lowed at 115.66 million won, with NongHyup at 110.69 million won, Woori at 109.7 mil...
-
June 02, 2024
LG Chem inks biggest corporate purchase of wind power in Korea
...nd achieve net zero by 2050. Facilitated by the state-run utility Korea Electric Power Corporation, LG Chem formed a power purchase agreement with ST International, an energy trading company, and Shinhan Asset Management, the owners of the two wind farms, with a combined capacity of 24...
-
May 26, 2024
Banks to resume compensation talks for ELS losses
...e and a computerized system for the task, with the committee set to convene a bi-weekly meeting to finalize compensation procedures. Other banks are at various stages of the compensation process. Shinhan Bank, the second-largest ELS seller, has completed discussions for around 820 case...
-
May 14, 2024
Woori Bank joins race for 4th online-only lender
...imum capital requirement of 25 billion won ($18.2 million) for establishing an internet-only bank, industry insiders believe significantly more capital will be necessary for effective operations. Shinhan Bank is also contemplating entering the competition by investing in the Douzone Ba...
-
May 13, 2024
Woori Financial ready to bulk up
...to post less than 3 trillion won ($2.2 billion) in earnings, with its net profit standing at 2.51 trillion won. KB, the No. 1 financial group, recorded 4.63 trillion won in net profit, followed by Shinhan’s 4.36 trillion won and Hana’s 3.45 trillion won. The first three months of thi...
-
May 06, 2024
Value-up program: Market disappointment does not mean a failure, just yet
... value-up announcement).” However, experts agree that the value-up program could eventually generate positive momentum in addressing the undervaluation of domestic companies in the stock market. Shinhan Securities' strategist Noh Dong-kil remarked, “Investors viewed the second annou...
-
April 30, 2024
Financial groups maintain capital adequacy despite ELS risk
...capital adequacy ratio, or Common Equity Tier 1, among five major Korean financial groups -- KB, Shinhan, Hana, Woori, and NongHyup -- was 12.8 percent in the first quarter of this year, a slight decl...r ago, dropping to 13.6 percent at the end of last year, and then to 13.4 percent th...
-
April 29, 2024
[Herald Interview] Korean banks’ earnings dilemma: More profits, more responsibility
... has the moral obligation to protect them after the local authorities’ intervention (such as cash distribution schemes),” he said. Despite the strong intervention, Korea's top four lenders -- KB, Shinhan, Hana and Woori -- are all placed on the sixth-highest “A” level on the 20-not...
November 24, 2024
