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Thu, August 16, 2018 | 12:03

Economy >

Shinhan Financial Group Vice President Jin Ok-dong, third from right, and table tennis players raise their fists for a photo at a stadium in Jincheon, North Chungcheong Province, Tuesday, as the financial group wishes them luck at the 2018 Asian Games. Shinhan donated funds worth 50 million won to the national table tennis and volleyball teams. Courtesy of Shinhan Financial

Photo News | 2018-08-15 14:05

Hana fixes eyes on North Korea

Kim Jung-tai, chairman and chief executive of Hana Financial Group, will be heading for North Korea to watch a youth soccer match for the 4th Ari Sports Cup held in Pyongyang from Aug. 13 to 18, according to the Ministry of Unification and the South and North Korean Sports Exchange Association. The chairman is expected to be joined by KEB Hana Bank CEO Ham Young-joo and sever...

Finance | 2018-08-15 14:53

Investors dump gold for dollars amid trade disputes

Global investors are dumping and staying away from gold, while trying to get their hands on U.S. dollars amid the United States' growing trade disputes with China, the European Union and Turkey among others. Gold futures for 60 months forward are barely trading above $1,200 an ounce, and spot gold reached $1,193, its lowest level in nearly 18 months, according to CME Group's ...

Finance | 2018-08-15 16:16

Credit card blues

Credit card companies are reeling from constant state pressure to lower the fees they charge stores for customer transactions, industry sources said Monday. It has been hurting their bottom lines to the point where they are barely able to keep their margins up. “The industry has lowered fees six times since 2012 as the government has forced them to do so through legislation. ...

Finance | 2018-08-14 11:30

Samsung Life in proxy war against FSS

Samsung Life has waged a legal battle against the nation's financial regulator by filing a lawsuit against one of its policyholders that claimed the insurer overcharged them and didn't pay a fair annuity.

Finance | 2018-08-14 17:59

MBK anxiously wants to sell ING to Shinhan: sources

MBK Partners, a local private equity giant, seemingly wants to sell ING Life Insurance before the end of the year after holding onto the insurance company for five years, multiple sources said Tuesday. Shinhan Financial Group has been in talks with the firm to acquire ING since April when it filed a public disclosure that it is considering the acquisition. However, a Shinhan ...

Finance | 2018-08-14 15:49

Turkey woes jolt financial markets

The financial market took a heavy beating Monday as fears about Turkey's currency crisis are growing and sending shudders throughout Asia.

Finance | 2018-08-14 17:58

Financial firms rush to Southeast Asia

Korean financial firms are expanding their presence in Southeast Asia. Major banks are tapping into the world's most rapidly growing economies, which are considered to be their next overseas cash cows, in a bid to overcome difficulties in finding new revenue sources in the saturated domestic financial market.

Finance | 2018-08-14 17:58

Helping farmers

NongHyup (NH) Savings Bank employees raise their fists for a photo after helping farmers under the summer heat in Yeoncheon, Gyeonggi Province, Tuesday. The NH volunteer team was dispatched to the region to help harvest peppers and fix farmers' equipment there. Courtesy of NH Savings Bank

Photo News | 2018-08-14 16:08

Shinhan, Samsung forge digital ties

Shinhan Bank said Monday it has forged strategic ties with Samsung Electronics to build an online payment ecosystem in Vietnam. This marks the bank's first time to join hands to foray into the field in the region, the bank said. Its Vietnamese bank and Samsung will provide Samsung Pay prepaid card service, enabling users of the bank's online networks and Samsung Galaxy Note 9...

Finance | 2018-08-13 14:48

California wildfires