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Thu, August 18, 2022 | 02:18

NH's digital chief from Samsung SDS extends term

NH Financial Group's Chief Digital Officer Lee Sang-rae has extended his term until the end of this year in recognition of his achievement in driving the firm's digital transformation. NH scouted Lee in July 2020 for the vice president-level position, speaking highly of his decades-long experience in data analysis. The NH executive worked for about three decades at Samsung SD...

2022-07-14 16:12

Samsung Card shares ESG achievement through annual report

Samsung Card has published its annual ESG report, Thursday, summarizing the company's achievements and progress in management based on environmental, social and corporate governance principles. The report has particularly stressed overall achievements in climate change responses, innovative digital finance and ESG-principled capital increase.

Anna J. Park | 2022-07-14 15:10

Banks desert BC Card to increase profitability

Standard Chartered Bank Korea has decided to discontinue its joint card issuance business with BC Card from November. With this decision, most cards issued by the bank, ranging from credit and debit to business credit cards will be stopped from issuance or renewal from November. Standard Chartered Bank Korea explained that the decision is primarily based on improving the bank...

Anna J. Park | 2022-07-13 15:59

Shinhan's ESG performance in 2021 worth $1.5 billion

Shinhan Financial Group carried out efforts and activities related to environmental, social and corporate governance (ESG) principles worth 2.13 trillion won ($1.53 billion) last year, the banking group announced on Tuesday. The figure is up from 780 billion won in 2019 when the country's second-largest banking group began to quantify its annual ESG performance.

2022-07-12 16:44

'Extraordinary Attorney Woo' pulls up production company shares

The success of the drama "Extraordinary Attorney Woo" has pulled up the stock price of its production company, AStory. The stock price has risen more than 70 percent since the premiere of the drama. The legal drama centering on Woo Young-woo, a genius lawyer who is on the autism spectrum, is gaining huge popularity, topping Netflix's most-watched show list not only in Korea, ...

2022-07-12 16:40

Banks face growing pressure to lower lending rates amid record profits

Major banking groups are believed to have set a new high in their quarterly earnings in the April-June period. However, the groups are finding such record profits an unwelcome boon as they can be a reason for the government to increase pressure on them to lower their lending rates to help borrowers who are struggling with repayments, according to industry sources, Tuesday.

2022-07-12 16:35

Banks displeased with government pressure to lower lending rates

Commercial banks are apparently displeased with the government's plan to narrow the gap between lenders' rates for loans and deposits, as they have been asked to review their respective lending policies starting this week, according to industry sources, Monday. The sources said the banks are concerned about being pushed into excessive competition to lower their lending rates,...

2022-07-11 16:43

Kyobo gears up for IPO once again

Kyobo Life Insurance has pledged to try again for a long-awaited initial public offering (IPO), after the move was blocked last Friday when the Korea Exchange didn't grant its approval during a preliminary examination. The exchange operator did not share any additional reasons behind the decision, but the ongoing legal dispute between Kyobo and its financial investor ― led by...

2022-07-11 16:37

Hana Bank signs MOU on global metaverse platform business

Hana Bank signed an MOU with The Sandbox, a blockchain-based metaverse platform business, for cooperation in new business. Following the MOU, the bank plans to join in projects created by The Sandbox as a global partner, to secure a leading position in digital banking by providing global metaverse banking services and content related to Korean culture.

2022-07-11 12:17

Kakao investors frustrated by falling stock price

Kakao investors are feeling increasingly frustrated by a steep fall in the price of the company's stock after the mobile platform operator decided to sell the management rights of its mobility subsidiary. Kakao shares had shown signs of a rebound up until early last week. The stock price dipped below 70,000 won in June, hit hard by sagging stock market sentiment here and abro...

2022-07-10 15:21

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