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April 04, 2023
No. of unused credit cards exceeds 15m in 2022
...s among the major card companies, with a rate of 15.23 percent, followed by Woori Card (13.75 percent), KB Kookmin Card (10.6 percent), Hyundai Card (9.63 percent), Samsung Card (9.38 percent) and Shinhan Card (9.11 percent). Korean financial regulators keep track of people’s unused c...
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March 31, 2023
[KH Explains] Political meddling prolongs KT leadership vacuum
... in the situation,” he added, referring to the National Pension Service, Hyundai Motor Group and Shinhan Bank, the three largest shareholders that own a combined 20 percent stake. KT on Tuesday put i...2022, the NPS holds a 10.13 percent stake, followed by Hyundai Motor Group with 7.7...
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March 29, 2023
[From the scene] Hype vs. reality of Apple Pay in Seoul
...ion to the initial partnership between Hyundai Card and Apple Pay as they prepare to provide their own Apple Pay services to differentiate themselves. According to the Credit Finance Association, Shinhan Card was the largest credit card issuer with 19.6 percent of the market share as o...
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March 24, 2023
New Shinhan chairman wins shareholder approval
Shareholders of Shinhan Financial Group on Thursday approved the appointment of Jin Ok-dong, its flagship banking unit’s former CEO, as the group’s new chairman. “I feel a great sense of responsibil...r of the 12 outside directors are Korean-Japanese. Shinhan Financial was f...
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March 19, 2023
NPS to vote against Shinhan Financial chairman nominee
South Korea’s public pension fund the National Pension Service said Thursday it would vote against the appointment of former Shinhan Bank President Jin Ok-dong as the new chairman of the Shinhan Financial Group, the nation’s second largest financial giant in terms of total ass...
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March 17, 2023
APR raises W8b in pre-IPO funding
...undation for innovation in beauty devices and supply capabilities to become an unrivaled company," an APR official said, adding, "We plan to increase the value of the company up to trillion won." Shinhan Securities is the sole book running lead manager of APR’s listing on the secondar...
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March 14, 2023
[KH Explains] Will Apple Pay-backed Hyundai Card renew credit rivalry?
...rean debut of Apple Pay later this month, all eyes are on whether Hyundai Card, the official partner of the mobile payment service for iPhones, will raise its market share to outpace bigger rivals Shinhan Card and Samsung Card. Credit card companies compete head-on in a crowded market ...
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March 03, 2023
Internet-only K-Bank reaps record profits
...available until March 28. The decision was largely due to the poor performance of its web-based service. According to website traffic analyzer Similarweb, the total number of internet users who visited K-Bank’s website in January was only 340,000, much lower than those at top commercial banks l...
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February 23, 2023
[Newsmaker] Korean banks’ oligopoly hinders global competitiveness: FSS chief
... interest income, and enjoyed the benefit by themselves. I think it is a great cause for concern as it may weaken the growth potential of the sector,” Lee said. The five major commercial banks -- Shinhan, KB Kookmin, Hana, Woori and NH NongHyup -- account for 60 to 70 percent of the d...
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February 22, 2023
Local banks cut lending rates amid rising criticism
...njoyed a bumper year on last year's interest rate hikes. The top four Korean financial groups -- Shinhan, KB, Hana and Woori -- saw their combined net profit last year hit a record high of 15.85 trill... 0.20 percentage point. According to industry sources, other top commercial banks l...
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February 17, 2023
Banks under fire for ‘insufficient’ contribution to Korean society
...for local commercial banks in Korea. The group's members include major banks such as KB Kookmin, Shinhan, Hana and Woori. However, the gesture was soon criticized as insufficient. According to the b...her competition in the local banking industry mostly dominated by five major commerc...
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February 15, 2023
Top 5 banks' hefty bonuses under fire
The top five Korean banks -- KB Kookmin, Shinhan, Hana, Woori and NongHyup – handed out hefty bonuses last year, after they posted record earnings thanks to higher interest income. The five banks’ b...nuses -- 670.6 billion won in total -- followed by KB Kookmin, which gave out 204.4 b...
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February 12, 2023
Big 4 financial groups post record-high net profit of nearly W16tr
South Korea’s top four financial groups -- Shinhan, KB, Hana and Woori – saw their combined net profit last year hitting a record high of 15.85 trillion won ($12.53 billion), largely buoyed by robust...ar’s record of 14.54 trillion won, as there was an 8.99 percent increase in net prof...
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February 09, 2023
Shinhan Bank taps incumbent vice chief as next CEO
Shinhan Bank Vice President Jung Sang-hyuk has been tapped as the next CEO of Korea’s No. 2 lender by total assets on Wednesday, following the abrupt departure of its chief. Shinhan Financial Group appointed Jung as the sole candidate for the top position of its flagship banki...
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February 09, 2023
Shinhan reclaims top financial group crown after three years
Shinhan Financial Group reclaimed the top position among financial firms in Korea by posting net profit outpacing other players last year. According to Shinhan's earnings report released Wednesday, ...9 trillion that the group saw in 2021. The high-interest rate was the main d...
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January 30, 2023
Banks' working hours to return to normal
...ating hours to 9 a.m. to 4 p.m. from Monday. Major commercial banks, including KB Kookmin Bank, Shinhan Bank, Hana Bank, Woori Bank and NH NongHyup, are to normalize their operating hours from the cu...ating hours to 9 a.m. to 4 p.m. from Monday. Major commercial banks, including KB K...
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January 19, 2023
Woori Financial Group chairman relents, will step down in March
...the Lime funds incident. Kim’s stance was in line with Financial Supervisory Service chief Lee Bok-hyun, who also pressured the head of Woori Financial Group last year indirectly by complimenting Shinhan Financial Group Chairman Cho Yong-byeong for offering his resignation. Cho’s ter...
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January 16, 2023
Will Woori Financial chief seek third term?
...o one is talking about how to change or improve the system,” he added. Financial Supervisory Service chief Lee Bok-hyun also pressured the head of Woori Financial Group last year by complimenting Shinhan Financial Group Chairman Cho Yong-byeong for offering his resignation, adding tha...
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January 12, 2023
After record earnings, banks feel pressured to lower lending rates
With Woori Bank joining crosstown rivals Shinhan Bank and Hana Bank in lowering lending rates, those hoping to take out loans can breathe a little easier. Woori Bank on Tuesday announced on its webs...so known as "jeonse," a unique home rental system in Korea. Woori Bank follows similar...
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January 11, 2023
Banking groups under pressure to boost dividend payouts
...e added. The shareholder campaign is lodged against seven banking groups -- KB Financial Group, Shinhan Financial Group, Hana Financial Group, Woori Financial Group, JB Financial Group, BNK Financial... been some moves toward improvement of shareholder values in the financial industry....
November 24, 2024
