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Finance

Non-banks

Wed, November 13, 2019 | 11:16

Private moneylenders close down due to regulations

Private moneylenders close down due to regulations

A growing number of private moneylenders are shutting down due to the government's tightening regulations on interest rates, according to industry sources. While the country's largest moneylender Sanwamoney declined to comment on its business, its website says it halted new loans in March this year.

Kim Bo-eun | 2019-09-25 14:07

Non-life insurers suffer worsening loss rate

Non-life insurers suffer worsening loss rate

The nation's non-life insurers, who were hit hard by more than a 100 percent loss rate in the automobile insurance sector last month, are expected to suffer an even worse loss rate in the sector this month.

Jhoo Dong-chan | 2019-09-24 18:42

Report shows growing gap in home ownership in Korea

Report shows growing gap in home ownership in Korea

The number of homes in South Korea has increased by nearly 5 million over the past decade and more than half of them have been purchased by buyers who already own at least one home, according to a report released Monday. The Citizens' Coalition for Economic Justice (CCEJ), an NGO, and Rep. Chung Dong-young, leader of the minor opposition Party for Democracy and Peace, unveile...

2019-09-24 16:21

Naver, Kakao to utilize IT platforms to launch insurance business

Naver, Kakao to utilize IT platforms to launch insurance business

The nation's IT giant duo Naver and Kakao are set to launch an insurance unit by the end of the year in a bid to diversify their business portfolio, the firms said.

Jhoo Dong-chan | 2019-09-23 17:34

NACF chairman to get Rochdale Pioneers Award

NACF chairman to get Rochdale Pioneers Award

National Agricultural Cooperative Federation (NACF) Chairman Kim Byeong-won will receive the Rochdale Pioneers Award from the International Co-operative Alliance (ICA), according to the cooperative federation, Monday.

Park Jae-hyuk | 2019-09-23 14:29

Kyobo Life's leadership system proving success

Kyobo Life's leadership system proving success

Kyobo Life Insurance's new leadership system is proving to be successful, with the allocation of roles enabling the establishment of a long-term strategy while focusing on immediate tasks. Chairman Shina Chang-jae established a chief operating officer (COO) position in March, naming Yun Your-hyun as the first COO to oversee insurance sales and marketing.

Kim Bo-eun | 2019-09-20 16:28

Hana Financial Investment under FSS probe for front-running

Hana Financial Investment under FSS probe for front-running

Hana Financial Investment is under a Financial Supervisory Service (FSS) investigation for alleged front-running trading, sources said.

Jhoo Dong-chan | 2019-09-19 18:40

Toss implies withdrawing bid for internet-only bank

Toss implies withdrawing bid for internet-only bank

Viva Republica is considering withdrawing its bid to establish the country's third internet-only bank as well as launching a securities business, company founder and CEO Lee Seung-gun said during a recent press conference. Viva Republica is the operator of mobile wire transfer app Toss.

Jhoo Dong-chan | 2019-09-19 18:39

Venture capital event

Venture capital event

Korea Development Bank (KDB) executives pose with members of Indonesia's administration after holding a venture capital event for Korean startups at Fintech Space in Jakarta, Wednesday. From fourth from left are KDB head of international business Cho Seung-hyun, Korean Ambassador to ASEAN Lim Sung-nam, KDB head of innovation and growth banking Chang Byoung-don, Indonesia's Co...

Kim Bo-eun | 2019-09-19 17:06

Digitization forces brokerages to shut down branches

Digitization forces brokerages to shut down branches

Domestic securities firms are downsizing the number of their branches since an increasing number of customers now prefer non-face-to-face stock trading via smartphones, but some brokerages are rather opening more branches to strengthen their wealth management (WM) businesses.

Jhoo Dong-chan | 2019-09-19 16:42

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