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Finance

Non-banks

Sat, May 30, 2020 | 06:21

Donation for Australian wildfires

Donation for Australian wildfires

Pepper Savings Bank CEO Matthew Chang, left, poses with Rowan Petz, executive director at the Australian Chamber of Commerce in Korea, at the Grand Hyatt Seoul, Jan. 31. At the event held by the AustCham Korea, the Australia-headquartered financial institution donated 20 million won ($17,000) to the Salvation Army for recovery activities from the ongoing Australian bushf...

Anna J. Park | 2020-02-05 17:04

First day at work

First day at work

Korea Securities Depository (KSD) CEO Rhee Myong-ho, right, receives an ID card from an employee at the KSD headquarters in Busan, Tuesday. During an open forum a day earlier, the new CEO vowed to respect the firm's union which had protested against the former government official's appointment. The KSD decided not to hold an inaugural ceremony in order to prevent the spread o...

Park Jae-hyuk | 2020-02-04 16:46

[Reporter's notebook] Will FSS chief's reform drive succeed?

[Reporter's notebook] Will FSS chief's reform drive succeed?

There was widespread tension among financial firms after Financial Supervisory Service Governor Yoon Suk-heun took his position in May 2018 and began spearheading moves to boost consumer protection.

Kim Bo-eun | 2020-02-03 09:23

Property or family? Life, non-life insurers clash over pets

Property or family? Life, non-life insurers clash over pets

Non-life insurance companies have expressed concern about the envisioned revision of the Insurance Business Act, as pet insurance may be categorized as “the third insurance” that guarantees compensation for losses from illness, injuries and nursing of “people.”

Park Jae-hyuk | 2020-01-30 15:34

Lime fiasco feared to spill over into more funds

Lime fiasco feared to spill over into more funds

There are growing concerns over a possible fund run after AlpenRoute Asset Management, a mid-sized hedge fund manager here, suspended payments on some of its funds following a series of redemption requests from securities companies. AlpenRoute said Tuesday that it will freeze 110 billion won in assets, halting fund withdrawals for investors in a move to forestall a possible l...

Kim Bo-eun | 2020-01-29 15:54

For sustainable growth

For sustainable growth

Executives and employees of MetLife Korea's affiliated agency MetLife Financial Services take part in the agency's sales strategy meeting at the Inter-Burgo Exco Hotel in Daegu in this Jan. 9 photo provided Tuesday by the insurer. MetLife Financial Services said that it will double its number of agents to 1,000 by the end of the year, to boost its market dominance as part of ...

Kim Bo-eun | 2020-01-28 17:15

Toss lags behind Kakao in securities business

Toss lags behind Kakao in securities business

Viva Republica, the operator of the Toss mobile money transfer app, has fallen behind Kakao in the race to start a securities business as KakaoPay is about to get approval from the financial regulator for its takeover of Baro Investment & Securities, according to analysts, Tuesday.

Park Jae-hyuk | 2020-01-28 16:15

Former AIG Korea chief appointed as AP CEO

Former AIG Korea chief appointed as AP CEO

U.S. insurance giant American International Group (AIG) appointed former AIG Korea head Steven Barnett as its Asia-Pacific CEO Thursday.

Kim Bo-eun | 2020-01-23 14:41

NongHyup group's bank reliance poses challenge

NongHyup group's bank reliance poses challenge

NongHyup Financial Group's rapid growth driven by its flagship NongHyup Bank has emerged as a double-edged sword as its weak non-banking affiliates are posing a challenge for the group's growth amid a toughening environment for banks.

Kim Bo-eun | 2020-01-22 15:14

Ex-Samsung Life execs seize control of group's financial arms

Ex-Samsung Life execs seize control of group's financial arms

Former and incumbent Samsung Life Insurance employees in their 50s will lead the nation's largest conglomerate's financial units, according to each affiliate, Tuesday.

Park Jae-hyuk | 2020-01-21 16:50

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