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Finance

Non-banks

Sat, May 30, 2020 | 05:48

Bomapp aims to disrupt insurance markets

Bomapp aims to disrupt insurance markets

Insurance has been one of the industries that has mostly remained unchanged for the past century. By employing agents, insurers have sold policies to customers, many of whom signed up for unnecessary policies. This was based, to a certain extent, on exploitation of the complexity of insurance policies.

Kim Bo-eun | 2020-04-10 09:41

Overseas business drives Mirae Asset's growth

Overseas business drives Mirae Asset's growth

Overseas business drove Mirae Asset Financial Group's record earnings last year, the group said Wednesday.

Kim Bo-eun2020-04-08 16:11

[CEO Watch] Kyobo chairman urged to close feud with investors

[CEO Watch] Kyobo chairman urged to close feud with investors

Kyobo Life Chairman Shin Chan-jae has been leading the insurer over the past two decades since he took the helm back in 1999. He was tapped again by shareholders at the end of February to lead his eighth straight term as the firm's chairman, starting March 27. The son of the firm's founder Shin Yong-ho has been considered to have led the firm's innovations and long-term growt...

Anna J. Park | 2020-04-08 10:15

Card firms enjoy solid growth in overseas businesses

Card firms enjoy solid growth in overseas businesses

Korea's major card firms saw their overseas businesses switch to a surplus last year, indicating that their seamless efforts to find new revenue sources abroad have finally paid off amid deteriorating circumstances here.

Kim Bo-eun | 2020-04-06 18:05

Haircut to support small businesses

Haircut to support small businesses

Korea Deposit Insurance Corp. (KDIC) CEO Wi Seong-bak, left, gets a haircut at a small beauty salon in Seoul, Monday, as part of the state-run firm's campaign to support small businesses having difficulty due to COVID-19. KDIC previously helped the beauty parlor's owner reschedule her debts. / Courtesy of KDIC

Anna J. Park | 2020-04-06 16:41

Will Korean life insurers follow Japan's path?

Will Korean life insurers follow Japan's path?

Concerns are growing over local life insurers as they appear to be facing similar circumstances to those faced by their Japanese counterparts in the past, circumstances that saw seven Japanese life insurers go bankrupt two decades ago.

Kim Bo-eun | 2020-04-06 15:09

Insurers capitalize on tougher school zone punishments

Insurers capitalize on tougher school zone punishments

Samsung, Hyundai, Meritz and several other general insurance companies here have begun to take advantage of tightened safety regulations in school zones to offset their deteriorating profits caused by low interest rates and the coronavirus pandemic, according to industry officials, Wednesday.

Park Jae-hyuk | 2020-04-02 09:53

Supporting floriculturists

Supporting floriculturists

Korea Asset Management Corporation (KAMCO) CEO Moon Sung-yu, third from left, poses with employees after presenting them flowers at the state-run firm's headquarters in Busan, Wednesday, ahead of KAMCO's anniversary on April 6. This was part of a campaign to support floriculturists afflicted by the coronavirus. / Courtesy of KAMCO

Kim Bo-eun | 2020-04-01 16:25

Kyobo files complaint against Deloitte Anjin

Kyobo files complaint against Deloitte Anjin

Kyobo Life Insurance said Tuesday that it had filed a complaint against Deloitte Anjin with the U.S. Public Company Accounting Oversight Board. The life insurer said that the firm violated accounting standards when calculating the fair market value of “put options” held by four major investors, including the Hong Kong-based Affinity Equity Partners.

Kim Bo-eun | 2020-03-31 15:32

Shinhan to integrate life insurance units July 2021

Shinhan to integrate life insurance units July 2021

Shinhan Financial Group said Tuesday it decided to merge Shinhan Life Insurance with Orange Life Insurance on July 1 next year, dispelling concerns that the nation's leading banking group could revisit its integration plan over a backlash from Orange Life, formerly ING Life Insurance Korea.

Park Jae-hyuk | 2020-03-31 14:36

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