-
April 29, 2024
Woori Financial jumps in race to take over Lotte Insurance
...essing interest in Lotte Insurance. Several global private equity firms, including BlackRock, Blackstone and KKR, are reported to be interested. However, two other major financial groups, Hana and Shinhan, that were speculated to enter the bidding, will not be taking part. In the broad...
-
April 26, 2024
Korea’s top finance firms put aside W1.7tr for Hong Kong-tied ELS compensation
Korea’s top finance firms -- KB, Shinhan, Hana, Woori and NongHhyup -- have set aside a total of nearly 1.7 trillion won ($1.2 billion) in reserve for the compensation of losses related to the missel...op seller of the ELS products, set aside 862 billion won to cover the compensation, No...
-
April 16, 2024
Credit card transactions hit W900tr in 2023
... that the combined card payment performance of the nation's eight major credit card companies -- Shinhan, Samsung, Hyundai, KB Kookmin, Lotte, Woori, Hana, and BC -- reached 920.5 trillion won, markin...tance annual card payments exceeded 9 trillion won since the FSS began collecting da...
-
April 11, 2024
Competition to become Korea's 4th online-only bank heats up
...Bank Korea. The current bidders are attempting to use the same tactic. The U-Bank consortium is backed by Hyundai Marine & Fire Insurance, while the Douzone Bank consortium seeks endorsement from Shinhan Bank. Yet, some point out it may not be easy for new players to secure their mark...
-
April 08, 2024
[KH Explains] Banks puzzled by derivatives misselling proposal
...1.47 billion) in total for the lenders, as it covers some 40 percent of the 5 trillion won investment losses from the ELS products that face maturity in the first seven months of this year. While Shinhan Bank and Hana Bank have already started to hand out compensation, KB Kookmin Bank,...
-
April 08, 2024
Shinhan joins race for Korea’s 4th internet-only bank
Shinhan Bank, one of the country's top commercial lenders, has thrown its hat in the ring for a license that would make it the country's fourth internet-only bank, competing in the digital space with K bank, Kakao Bank and Toss Bank. Shinhan has joined a consortium launched by ...
-
April 04, 2024
Shinhan Bank secures 10% stake in India’s Credila
Shinhan Bank, a major commercial lender in South Korea, is bolstering its footprint in India through a strategic share acquisition of the local student loan provider, Credila. The bank announced Thu... Services the previous day. As per the agreement, Credila will undergo a capital incre...
-
April 03, 2024
How did Hyundai Motor end up becoming KT's largest shareholder?
.... So far, Hyundai Motor Group's key affiliates, Hyundai Motor Co. and Hyundai Mobis, own a combined 7.89 percent stake in KT. They each hold stakes of 4.75 percent and 3.14 percent, respectively. Shinhan Financial Group is KT's third-largest shareholder with a 5.55 percent stake. Foll...
-
April 01, 2024
More women break glass ceiling on financial group boards
...ber of female board directors at Korea’s four major bank holding companies – KB Financial Group, Shinhan Financial Group, Hana Financial Group and Woori Financial Group -- increased to 10 from seven l...ider Statista, 63.7 percent of listed Korean companies did not have women on board...
-
April 01, 2024
[Hello India] Korean investment firms push into India amid China decline
... securing approval from the State Bank of India, there's a complex process that makes it challenging for foreigners to invest directly in the Indian market," explained Park Woo-yeol, an analyst at Shinhan Securities. Delving deeper, Han Sang-hee, an analyst at Hanwha Investment & Secur...
-
March 29, 2024
Banks rush to cough up misselling compensation
...ion guidelines suggested by the country's financial watchdog, agreeing to make up for the losses from the misselling of equity-linked securities tied to a Hong Kong index, with KB Kookmin Bank and Shinhan Bank joining the list Friday. Following company board meetings held earlier in th...
-
March 27, 2024
Banks offer W600b to share profits
...oduced plans to use the remaining 600 billion won. Korea’s top four commercial lenders contributed the most to the funding. Hana Bank was the top lender, putting in 156.3 billion won, followed by Shinhan at 109.4 billion won, Woori at 90.8 billion won and KB Kookmin at 71.6 billion wo...
-
March 26, 2024
Korean banks up ante in Poland amid heightened ties
...e deployed for this endeavor, an Eximbank official revealed. Other banks which have already established footing in the country are also seeking expansion. Presently, the Industrial Bank of Korea, Shinhan Bank and Woori Bank are operating offices in Poland. Woori Bank, which currently r...
-
March 26, 2024
Banks compete for foreign customers
...n customers through designated communication channels. Korea's top four financial groups -- KB, Shinhan, Hana and Woori -- all provide customized services for foreign residents here, with separate co...o suit the needs of foreign workers. KB has eight centers specializing in overseas t...
-
March 22, 2024
Woori Bank first to start ELS compensation
...y, Hana Bank announced it would convene a board meeting Wednesday to discuss ELS compensation, followed by NongHyup Bank and Standard Chartered Bank Korea with meetings scheduled for the next day. Shinhan Bank, which reportedly discussed the issue during its regular board meeting on Thu...
-
March 19, 2024
Korea pledges W452tr in climate finance until 2030
...7 million tons by 2030, representing 29.5 percent of the government's reduction target over the next seven years. Additionally, the KDB and the nation's five major commercial banks -- KB Kookmin, Shinhan, Woori, Hana and NongHyup -- will establish a 9 trillion won "future energy fund" ...
-
March 18, 2024
Finance stocks rally despite ELS woes
...won ($59) after three consecutive days of record-setting gains, while Hana's reached 64,600 won. Shinhan Financial Co.'s shares also surged to 51,500 won, reaching the highest point in over five years...place in the coming days. Starting with Hana Bank's board meeting on Wednesday, Kook...
-
March 16, 2024
Major shifts among top market cap stocks on the KOSPI
... year. It rose to the top 10 in market cap for the first time in five years and three months since December 2018. Following closely were movements in the rankings of Celltrion (from 12th to 8th), Shinhan Financial Group (from 18th to 15th), and Samsung Life Insurance (from 21st to 19th...
-
March 15, 2024
Bank Shinhan Indonesia, Indodana collaborate for digital lending service
Shinhan Bank on Friday said that its Indonesian subsidiary has teamed up with an Indonesian financial technology company to bolster its presence in the digital platform-based loan market in the South...nd we aim to broaden our retail business by fostering partnerships with various platfor...
-
March 07, 2024
Finance minister stresses banks' role in FX market reform
...r the successful reform of the foreign exchange market, the finance ministry said. Choi made the request during a meeting with the chiefs of KB Kookmin Bank, the state-run Korea Development Bank, Shinhan Bank, Woori Bank and Hana Bank in Seoul, as the government has been working to eas...
November 24, 2024
