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Finance

Economy

Mon, December 16, 2019 | 08:26

4 major financial groups post lower profit in card business

Credit card units of Korea's four largest financial groups posted a combined 242.2 billion won ($209 million) net profit in the first quarter of 2019, a 12.1 percent drop from a year earlier, data showed Friday.

Lee Kyung-min | 2019-04-26 17:20

Korean banks struggle to stay afloat in China

Korean banks struggle to stay afloat in China

The nation's banks are facing another hurdle in the Chinese market as Beijing Hyundai Motor Company, a Chinese joint venture of Hyundai Motor, decided to halt the operation of its No.1 plant in Beijing next month.

Jhoo Dong-chan | 2019-04-26 16:18

Economy contracts 0.3% in first quarter

Economy contracts 0.3% in first quarter

The economy unexpectedly contracted 0.3 percent in the first quarter of this year from the previous three months due to falling private investment and exports, according to the Bank of Korea, Thursday. The last time the quarterly growth declined was in the fourth quarter of 2017 when it shrank 0.2 percent. But the 0.3 percent contraction in the first quarter marks the biggest...

Park Hyong-ki | 2019-04-25 18:25

Shinhan, Woori enjoy solid profits in Q1

Shinhan, Woori enjoy solid profits in Q1

Shinhan Financial Group continued its solid earnings streak to maintain its position as the nation's leading financial group in the first three months of the year. Woori Financial also posted record-high quarterly earnings in the period, surpassing Hana Financial Group to become the nation's third-largest financial group following Shinhan and KB.

Jhoo Dong-chan | 2019-04-25 17:37

Former MetLife CIO tapped KB Data Systems CEO

Former MetLife CIO tapped KB Data Systems CEO

KB Financial Group appointed former MetLife Chief Information Officer (CIO) Choi Jae-eul as CEO of the group's systems integration unit, Thursday. A recommendation committee put forward Choi as the candidate for KB Data Systems' CEO a day earlier, citing his expertise in the field.

Kim Bo-eun | 2019-04-25 16:37

Hyundai Capital issues W300 bil. green bonds

Hyundai Capital issues W300 bil. green bonds

Hyundai Capital has raised 300 billion won ($260 million) by issuing won-denominated bonds from a group of institutional investors, the automobile financing company said Thursday. The funds will be used to extend loans and leases to customers seeking to purchase Hyundai Motor or Kia Motors' electric, hydrogen and hybrid vehicles. This marks the first time for a local financia...

Park Hyong-ki | 2019-04-25 15:06

Blockchain pushes banks to evolve

Blockchain pushes banks to evolve

A growing number of banks are seeking to apply blockchain-based technology to their products in a bid to provide more convenient and faster services for consumers.

Lee Kyung-min | 2019-04-24 17:39

Shinhan joins Honors Club for tackling climate change

Shinhan joins Honors Club for tackling climate change

Shinhan Financial Group has been accepted again by the Carbon Disclosure Project's (CDP) Carbon Management Honors Club due to its positive track record in dealing with climate change, the bank said Wednesday.This marks the group's fifth consecutive year to be part of the CDP Club. Shinhan is the only local financial company to have joined the Honors Club.

Park Hyong-ki | 2019-04-24 17:39

Korea vows to enhance 'capacity building' at WCO

Korea vows to enhance 'capacity building' at WCO

Korea has vowed to take a leading role in fostering talented customs officials worldwide by capitalizing on its unique experience and knowhow in “capacity building” in administration.

Lee Kyung-min | 2019-04-24 17:16

Korea aims to become leader in global customs services

KB Securities worker embezzles customers' money

KB Securities worker embezzles customers' money

KB Securities and one of its executives have received a warning after one of its employees embezzled customers' money, the financial authorities said Wednesday. The Financial Services Commission (FSC) said that it decided to issue a low-level “disciplinary warning” to KB Securities and the related department executive during its regular meeting last week.

Jhoo Dong-chan | 2019-04-24 16:14

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