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December 29, 2023
Shinhan Card secures W31b funding from Kazakhstan's Aster
Shinhan Card announced Thursday that its Kazakhstan unit, Shinhan Finance, secured about 31 billion won ($24 million) from Aster, a leading automobile dealer in the Central Asian country, for a new joint venture, becoming the first Korean card company to win investment from an o...
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December 25, 2023
Bank Shinhan Indonesia secures $200m funding from IFC
South Korea's Shinhan Bank said Friday its Indonesian unit, Bank Shinhan Indonesia, has won a $200 million investment from the International Finance Corp. The funding is a result of a memorandum of understanding signed between Shinhan Financial Group and the IFC in Ma...
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December 20, 2023
[KH Explains] What’s behind life insurance companies' rush into senior care industry?
With some 5,000 on the waitlist for the 180 units in the two Villages, the company said it plans to open three more nursing homes and centers each in the capital by 2025. Shinhan Life is also aiming to open its first senior welfare housing complex in Eunpyeong-gu, northwestern Seoul, by ...
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December 19, 2023
Korea's top 5 banks brace for losses from foreign real estate projects
South Korea’s top commercial banks -- KB Kookmin, Shinhan, Hana, Woori and NongHyup -- are facing a potential risk of suffering losses in overseas real estate investments amid a slowdown in the global property market following persistent high rates. The balance of overseas real estate f...
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December 11, 2023
SK Group creates carbon credit alliance
...3 United Nations Climate Change Conference, also called COP28, which takes place in Dubai, United Arab Emirates, until Tuesday. Participants in the agreement include SK Inc., SK E&S, EcoSecurity, Shinhan Investment Corp, PwC Consulting, the Carbon Reduction Certification Center of the ...
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November 28, 2023
Korean banks at risk of W3tr in losses in HK-tied ELS sales
...t 4.77 trillion won. Nonghyup Bank holds 1.48 trillion-won worth of ELS products while those for Shinhan Bank, Hana Bank and Woori Bank amount to 1.37 trillion won, 752.6 billion won and 24.9 billion ... official said. "The FSS plans to conduct a written inspection into other sellers s...
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November 24, 2023
Shinhan Bank to invest W1.6tr into UK projects
Shinhan Bank said Wednesday that it has signed an agreement worth 1 billion pounds ($1.25 billion) with the United Kingdom Department for Business and Trade to invest in the country's infrastructure ...ty and long-term certainty with the UK government, it said. The bank will also collabo...
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November 24, 2023
[KH Explains] Bank stocks falter amid windfall tax proposal
...uctions, amounting to around 1.9 trillion won ($1.46 billion) -- the same amount that the windfall tax is expected to collect from banks. In response, eight local financial groups -- NH NongHyup, Shinhan, Woori, Hana, KB, BNK, JB, and DGB -- pledged to come up with a concrete vision to...
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November 22, 2023
KB’s new chief starts term by vowing to give back to society
...blic’s financial burdens amid their record earnings, largely buoyed by rising interest rates. In a meeting with financial authorities Monday, heads of eight local financial groups -- NH NongHyup, Shinhan, Woori, Hana, KB, BNK, JB, and DGB -- pledged to come up with a concrete vision t...
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November 17, 2023
Ex-Shinhan chief tapped to lead Korea Federation of Banks
Shinhan Financial Group's former Chairman Cho Yong-byoung has emerged as the final nominee for the chairman position of the Korea Federation of Banks to head the association for the next three years....nd international uncertainties." Born in 1957 in Daejeon, Cho embarked on his banking ...
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November 13, 2023
LG Display set for turnaround next year, buoyed by Apple’s first OLED iPad
...ion won. "Apple's turn to OLED panels for its iPads would have a big impact on the industry, creating a whole new market that is similar to the iPhone in size," said Namgung Hyon, a researcher at Shinhan Securities. The two Korean display makers are reportedly wrapping up their price ...
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November 13, 2023
Korean banks to offer loans for Polish weapons deal
...ollow-up weapons purchase deal with Korean arms companies, industry sources said Friday. This decision came after South Korea's Defense Ministry asked the top five commercial banks -- KB Kookmin, Shinhan, Hana, Woori and NongHyup -- to provide the lending during a meeting held on Nov. ...
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November 08, 2023
[KH Explains] Why do Woori, NongHyup hold on to North Korean operations?
... Back in September 2004, Woori Bank secured a license to establish a branch in the inter-Korean manufacturing zone by prevailing over other bidders like KB Kookmin Bank, Industrial Bank of Korea, Shinhan Bank and Hana Bank. "We applied for the license from the South Korean government,...
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November 07, 2023
Korean commercial banks mull financing arms export to Poland
...Korean arms companies, as state-run banks hit their loan limit for the contract. South Korea's Ministry of Defense on Monday held a meeting with officials from five top local banks -- KB Kookmin, Shinhan, Hana, Woori and NongHyup -- to discuss providing loans to the Polish government f...
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November 06, 2023
[Hello Indonesia] Korea, Indonesia to bolster ties on future growth drivers
... backed by its large, young population. Indonesia, the world's fourth-most populous country saw 5.31 percent growth in its economy last year. Korea's top four commercial lenders, KB Kookmin Bank, Shinhan Bank, Hana Bank and Woori Bank, all have subsidiaries in Indonesia, seeing potenti...
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October 30, 2023
[KH Explains] Card firms increasingly hesitant over Apple Pay
...en could be passed on to customers,” Yun stressed. Three leading credit card issuers in Korea — Shinhan Card, KB Kookmin Card and BC Card — submitted letters of intent to collaborate with Apple Pay i...0,000 in June, 115,000 in July and 110,000 in August. This August figure ranked ...
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October 29, 2023
Seoul shares make slight recovery after massive fall
... "The Kospi, which closed at under 2,300 points on the previous day, returned to the threshold as retail investors and institutions moved in for bargain hunting,” said Choi Yoo-joon, an analyst at Shinhan Securities. “The rebound was particularly higher in battery shares, which saw w...
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October 26, 2023
Shinhan Card's Kazakh unit secures $60m funding from IFC
Shihan Finance, Shinhan Card’s subsidiary in Kazakhstan, has secured a $60 million investment from the International Finance Corporation, the Korean car issuers under Shinhan Financial Group said Wed...auto finance business as well as its social contribution efforts. Establish...
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October 20, 2023
S-Oil to drive net-zero emissions with Shinhan Bank
South Korean oil refiner S-Oil announced Thursday that it has joined forces with Shinhan Bank to bolster its transition to achieving net-zero carbon dioxide emissions. Under a memorandum of understanding signed by the two on Wednesday, the Korean lender will support S-Oil in reducing its...
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October 11, 2023
Israel-Hamas conflict to deepen inflation woes
...t influences oil prices, impacting inflation and eventually the US bond yields.” Iran’s involvement in the Hamas ambush would be a crucial variable for the oil market, Lim Hwan-yeol, economist at Shinhan Securities, pointed out, though Iran has denied any claims it was behind the att...
November 24, 2024
