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Finance

Economy

Fri, August 23, 2019 | 04:55

FSS chief urges foreign firms to lead 'inclusive finance'

The chief of the Financial Supervisory Service (FSS) urged foreign financial firms to play a leading role in protecting consumers through “inclusive finance” and “responsible innovation.”

Kim Bo-eun | 2019-04-05 17:27

Bank CEOs going into digital battle

CEOs of Korea's top five commercial banks are ramping up efforts to achieve digital transformation, a forward-looking initiative among many global financial services firms. Shinhan Bank CEO Jin Ok-dong, who took the helm in late March, said he will hire digitally creative employees and consider removing IT departments and have new employees with technological capacity work th...

Lee Kyung-min | 2019-04-05 16:57

KIC to boost alternative investment

Korea Investment Corp. (KIC) and its local asset management partners will invest more in advanced alternative markets abroad, KIC CEO Choi Hee-nam said Friday. “We will expand our reach with local partners abroad by investing in alternative assets, private equity funds and hedge funds,” he told a press conference in Seoul. Choi has been the KIC chief executive for a year.

Park Hyong-ki | 2019-04-05 15:45

Gov't sets up ISD response team

The government will form a taskforce to counter investor-state dispute (ISD) cases filed by foreign investors such as U.S. private equity Lone Star and activist Elliot Management, according to the Ministry of Justice, Friday. The justice ministry will be heading the taskforce that consists of officials from the Office for Government Policy Coordination, the Ministry of Econom...

Park Hyong-ki | 2019-04-05 15:40

S&P Global sees no turnaround for Korean firms

Korean firms are unlikely to see a major turnaround in 2019 due to a debt burden and lingering uncertainties, global ratings appraiser S&P Global said, Thursday. It pointed out that the overall decrease in profit compounded by an increase in debt are posing major risks to big companies in key industries, including electronics, IT, petrochemical and steel.

Lee Kyung-min | 2019-04-04 17:28

Goods account surplus hits 55-month low

The nation's goods account surplus fell to a nearly five-year low of $5.48 billion in February due to a major setback in exports, the Bank of Korea (BOK) reported Thursday. The figure was down from the previous month's $5.57 billion and the worst since July 2014 when it stood at $5.42 billion. It has been decreasing for five consecutive months since it reached $13.01 billion ...

Lee Kyung-min | 2019-04-04 17:28

Woori on track for non-banking expansion

Woori Financial Group is gearing up to expand its non-banking sector through aggressive mergers and acquisitions after the banking group created a holding firm in January.

Kim Bo-eun | 2019-04-04 16:48

ABL Life names Xie Zheqiang as new CEO

ABL Life's board Chairman Xie Zheqiang will serve as the insurer's new CEO, according to the company, Thursday. The firm nominated Xie as its new CEO, Wednesday, and this was approved at a general shareholder's meeting held the following day.

Kim Bo-eun | 2019-04-04 16:48

Son Dam-bi named KOMSCO brand ambassador

Son Dam-bi, a singer and actress, has been named the brand ambassador of the state-run Korea Minting, Security Printing & ID Card Operation Corp. (KOMSCO), the company said Thursday. She will be attending KOMSCO's annual events and marketing campaigns to promote the company's products and services until April, 2020. Son debuted with her single “Cry Eye” in 2007, and hit the t...

Park Hyong-ki | 2019-04-04 16:26

PEF-backed Shinhan goes all in on investments

Shinhan Financial Group is gearing up to make more deals and invest in the capital market through its ties with domestic and global private equity funds (PEF), according to sources with knowledge of the situation. After becoming the country's biggest financial holding group by profits, assets and market cap, with IMM Private Equity joining its board, Shinhan Financial has “th...

Park Hyong-ki | 2019-04-04 09:29

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