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March 07, 2024
Lotte E&C reduces liabilities by securing $1.7 billion
... additional 500 billion won secured by the company, which has suffered from liquidity crisis. The long-term fund of 2.3 trillion won, established last month with the participation of five banks - Shinhan Bank, KB Bank, Woori Bank, Hana Bank, and Industrial Bank of Korea - as well as th...
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March 04, 2024
[From the Scene] Staying 'senior-friendly': Next normal of banking
...ing to data from the Financial Supervisory Service, the top four commercial banks -- KB Kookmin, Shinhan, Hana and Woori -- operated 2,824 offline branches as of September, down from 3,525 at the end ...niors over 50. Further branch closures are anticipated in the future. This year, KB...
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March 04, 2024
Finance giants boost female board numbers amid government initiative
... of outside directors. Hana Bank President Lee Seung-lyul and Hana Securities President Kang Seong-muk are joining the holding firm's internal board of directors. Industry sources anticipate that Shinhan Financial Group will raise the number of its female outside directors from two to ...
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March 04, 2024
Hana Financial Group targets baby boomers with Lim Young-woong
...d attracting new customer bases. For instance, the industry has increasingly hired K-pop idols as brand ambassadors in recent years to appeal to younger customers and shed its conservative image. Shinhan Financial Group recently appointed girl group NewJeans as its official ambassador,...
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February 27, 2024
High rates drive 49% surge in 2023 Korean banks' bad loans: report
...lion won ($1.47 billion), marking a substantial surge of 48.8 percent compared to the previous year, as reported by the financial holding firms. These financial institutions include KB Financial, Shinhan Financial, Hana Financial, and Woori Financial. The spike in potential uncollecte...
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February 27, 2024
New regulation on housing loans comes into force
...trillion won to the total household debt in January alone. Notably, mortgages from banks soared by 4.9 trillion won during the month. Local banks are responding by raising lending rates, with Woori Bank set to increase housing loan rates by up to 0.3 percent starting Wednesday, following similar...
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February 18, 2024
Bithumb hits stumbling block in ambition to be market No. 1
...tly, the top five Korean crypto exchanges are each affiliated with commercial banks. However, none are associated with the four major commercial banks here -- including KB Kookmin, Hana, Woori and Shinhan. Upbit, the top player in the industry, joined hands with internet lender K bank,...
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February 16, 2024
Korean stock market could duplicate Japan's bull run: Shinhan chief
Shinhan Financial Group Chairman Jin Ok-dong believes that undervalued Korean stocks including his banking group’s shares could gain impetus with the government’s strong drive with its upcoming marke...g that into an exchange-traded fund. I think that could be a huge catalyst,” he said...
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February 16, 2024
Korean stock market could duplicate Japan's bull run: Shinhan chief
Shinhan Financial Group Chairman Jin Ok-dong believes that undervalued Korean stocks including his banking group’s shares could gain impetus with the government’s strong drive with its upcoming marke...g that into an exchange-traded fund. I think that could be a huge catalyst,” he said...
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February 07, 2024
From bees to polar bears, Korean banks' love of animated characters
...m. With Woori jumping on the bandwagon, all four of Korea’s top financial groups -- KB Kookmin, Shinhan, Hana and Woori -- now have animated characters representing their brands. The characters are ...en arranged an exhibition of the Star Friends characters, showcasing artworks inspi...
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January 25, 2024
[KH Explains] Financing limbo threatens W30tr Polish arms deal
...ing pooling capital partially through a syndicated loan from the private sector. In November, it was reported that the Defense Ministry asked the country's top five commercial banks -- KB Kookmin, Shinhan, Hana, Woori and NongHyup -- to provide a loan of around 3.5 trillion won to the P...
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January 24, 2024
Korean banks ready to step up their game in India
...e Chennai branch which was set up in 2012, and two others in Gurugram and Mumbai, both established in 2017. Including KB Kookmin and Woori, all top five commercial lenders have expanded to India. Shinhan Bank runs six branches in the country, while Hana has two. NH NongHyup Bank opened...
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January 18, 2024
KB Kookmin Bank vows W372b support for SMEs
...ord earnings mainly generated from rising interest rates. Before KB Kookmin Bank's Wednesday announcement, other major lenders unveiled their own measures. KEB Hana Bank will provide a 355.7 billion-won package, while Shinhan Bank, Woori Bank and NH Nonghyup Bank decided to commit 306....
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January 18, 2024
Woori, BC improve profits in overseas card business
...t of 4.49 billion won in the period. Woori's figure outpaced even the 4.19 billion won logged by Shinhan Card, the local leader in the overseas card business in Indonesia. Woori's Myanmar office, Tut... of Shinhan Card's overseas net profit in the same period. Offsetting the...
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January 17, 2024
KEB Hana Bank to tap into Hungary in Q1
...ary's capital Budapest within the first quarter of this year. One of South Korea's top four commercial lenders, Hana will be the third to make inroads into the Central European country, following Shinhan Bank and Woori Bank. The state-owned Korea Development Bank also operates a local ...
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January 15, 2024
Catastrophic losses pile up from HK-tied ELS
...ed from the sales of the Hong Kong index-tied ELS products sold by the five major Korean commercial banks, according to sources from the financial ring on Sunday. The five banks are Kookmin, Hana, Shinhan, Woori and NH NongHyup. The amount piled up in just five days since Jan. 8 when l...
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January 09, 2024
[CES 2024] Korean finance giants eye new opportunities at CES
The leaders of Hana Financial Group and Shinhan Financial Group are headed to the CES 2024, the world's largest consumer technology event slated to open in Las Vegas on Tuesday. Hana Financial Group...AI data department," while its banking subsidiary Hana Bank is establishing an AI finan...
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January 08, 2024
FSS cracks down on HK-tied ELS misselling
...orea Investment and Securities, the top-selling bank and securities firm of ELS products, respectively. The financial watchdog said it will extend the probe over other major banks, including Hana, Shinhan, Woori and NH NongHyup, as well as six other key brokerages, within January. Acco...
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January 03, 2024
2024 set to be another profitable year for top 4 financial groups
South Korea's top four financial groups -- KB, Shinhan, Hana and Woori -- are expected to post a combined net profit of over 17 trillion won ($13 billion) this year, buoyed by their moneylending busi...ties firms predicted KB Financial Group to garner a net profit of 5.19 trillion won, fo...
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January 02, 2024
Foreigners’ net buying of Samsung hits new high in 2023
... soft landing (of the US economy) since December's Federal Open Market Committee meeting. The growing bullish sentiment for big US tech companies had its influence, too," analyst Choi Yu-june from Shinhan Securities assessed. But analyst Lee Jae-man of Hana Securities projected that th...
November 24, 2024
