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Thu, September 20, 2018 | 05:24

Economy > Finance >

Woori Bank set to buy Kyobo Securities

Woori Bank, the country's top-tier private lender, is in discussions with Kyobo Life Insurance to take over controlling stakes in Kyobo Securities, a deal of which the value was estimated at around $300 million (320 billion won), sources at two local private equity funds (PEFs) said, Wednesday.

Finance | 2018-06-13 17:47

Long-term perspective essential for inter-Korean shares

Inter-Korean stocks that had soared on the expectation they will benefit from economic development projects in North Korea are plummeting despite the historic summit between North Korea and the United States. Analysts say investors should make decisions based on a long-term perspective.

Finance | 2018-06-13 17:46

Fintech emerging as investment tool

An increasing number of retail investors are using fintech app platforms as investment tools. To capitalize on this growing trend, fintech companies, which used to offer simple wire transfers or account checking services, have expanded their operations into investment and asset management by using their convenient and fast financial service platforms.

Finance | 2018-06-12 16:54

Coinrail hacked, cryptocurrency worth W40 bil. lost

The nation's seventh-largest cryptocurrency exchange Coinrail was allegedly hacked over the weekend, and an estimated 40 billion won ($37.2 million) worth of coins were stolen.

Finance | 2018-06-11 17:20

Banks rolling out 'chatbots' to improve customer experience

The nation's major banks are rushing to roll out“chatbot” services, computer programs utilizing artificial intelligence (AI) that conducts a conversation via text. Offering an automated teller and loan service 24 hours a day, the AI-based chatbot service is expected to gradually replace manpower at banks.

Finance | 2018-06-11 17:18

Korea urged to reap benefits of blockchain and cryptocurrency tech

Korea has traditionally not been a major player in the international financial market but things are different when it comes to trading cryptocurrencies. Korea has been rather active in digital money as it is the world's third-largest cryptocurrency market by volume.

Finance | 2018-06-10 16:17

'Health promotion insurance' goes viral among workers

More than 600,000 people have bought a new health insurance product, which discounts the premium for policyholders who regularly work out to stay healthy, in two months since the nation's four major life and non-life insurance companies introduced the product in April.

Finance | 2018-06-08 17:56

Retail investors borrow high-risk loans for 'inter-Korean stocks'

An increasing number of retail investors are borrowing money on loans from securities firms to invest in company shares related to inter-Korean economic cooperation.

Finance | 2018-06-05 17:44

MBK Partners faces setback in unloading ING Life

MBK Partners has put on hold its plan to sell its 59.19 percent stake in ING Life Insurance Korea (ING Korea) after two candidates pulled out of the estimated $2.3 billion deal.

Finance | 2018-06-05 17:00

Woori to close 30 branches every year

Mobile banking is leading to the removal of physical bank branches as more and more customers are using their smartphones and other devices to manage their financial needs.

Finance | 2018-06-05 15:41

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Inter-Korean Summit in Pyongyang [PHOTOS]