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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 earn unwavering tru...
Kakao Bank announced Friday that it is donating 1 billion won ($726,000) to the United Nations International Children's Emergency Fund to aid in tackling the global climate crisis and supporting future generations. The internet-only bank and the Korean Committee for UNICEF conducted a ceremony Thu...
The Bank of Korea kept its benchmark interest rate unchanged at 3.5 percent for the 12th consecutive time Thursday, while implicating a rate cut if the current path of disinflation continues. The central bank has maintained the rate at 3.5 percent for over one and half years, since Jan. 13, 2023. ...
Nuveen, the investment manager of the US Teachers Insurance Annuity Association with $1.2 trillion in assets under management, is seeking to broaden its investor base in the Korean market from big institutions to retail investors by launching funds to invest in unlisted medium-sized companies. Ret...
South Korea’s financial market would likely face higher volatility if former US President Donald Trump were to return to the White House, as he would trigger another push for deglobalization, local brokerage house KB Securities’ research chief said Tuesday. “If Trump wins the upcoming president...
Hana Financial Group kicked off its financial technology talent nurturing program, “Hana Digital Power On,” Monday, aiming to strengthen digital innovation in the finance sector. Marking its third year, the program seeks to train young talents to develop tech solutions for the financial industry...
100-trillion-won market As Korea faces significant population aging, the market for will-substitute trusts, among various wealth management services, is rapidly expanding. By next year, the nation is expected to become a superaged society, with those aged 65 or older comprising 20 percent of the ...
First Vice Finance Minister Kim Byoung-hwan, the nominee to head the Financial Services Commission, said he must put in all efforts to bring down the fast growth of household debts on Friday. Kim, a 53-year-old macroeconomics expert, was tapped to the post to lead the country's top financial polic...
South Korean shares hit the highest level in nearly two and half years on Thursday, with much-awaited tax incentive plans for the Korean government’s program to boost the stock market taking shape. The benchmark Kospi rose 1.11 percent to close at 2,824.94, reaching the highest since January in 2...
First Vice Finance Minister Kim Byoung-hwan has been nominated to lead the Financial Services Commission, South Korea's top financial policy-making unit, the presidential office announced Thursday. In nominating Kim, the office noted, "With his exceptional insights into finance and macroeconomics,...
Mirae Asset Financial Group Chairman Park Hyeon-joo on Wednesday received the International Executive of the Year Award from the Academy of International Business, a top industrial honor, recognized for his pivotal role in lifting the firm as a global financial service provider. Park was the first...
South Korea plans to form a public-private consultative group to address the rising costs of food delivery fees this month to help lift the burden on restaurant owners, the government announced Wednesday. The plan is part of pangovernmental measures to support small business owners. Government off...
South Korea’s won-dollar trading on the first day with extended trading hours has gotten off to a smooth start with ample liquidity and no significant increase in volatility, the country’s financial authorities said Tuesday. Starting from Monday, Korea has extended won trading hours to make the ...
The amount of overdue business loans taken by self-employed business owners in South Korea surpassed 10 trillion won ($7.2 billion) for the first time ever in the first quarter of this year, marking the highest figure ever since the government started tallying the figure in 2009. Overdue business ...
The record for the most expensive apartment ever sold in South Korea was broken in June, according to government data tracking real estate transactions. The country's new most expensive apartment is a 273.94-square-meter first-floor unit at Nine One Hannam in Yongsan-gu, central Seoul, which sold f...
[From the Scene] How robotics reflect shift in S. Korea's food industry
Kia logs record-high operating profit for 3Q
Shinhan Financial net profit up nearly 4% in Q3
Lulumedic explores digital health collaboration with Russia
Woori Financial’s cumulative Q3 earnings increases by 9.1% on-year
Hanwha Ocean strengthens partnership with US Navy