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Sat, December 7, 2019 | 03:51

Financial groups seek to scale up portfolios

Financial groups seek to scale up portfolios

Major financial groups are in a race to scale up their business portfolios to boost non-banking revenue as profit margins in the banking sector have been squeezed amid low interest rates.

Kim Bo-eun | 2019-12-06 19:32

Customs service cooperation

Customs service cooperation

Figure Korea Customs Service (KCS) Information Planning Division Director Lee Jin-hee, left, and African Development Bank (AfDB) Industrial and Trade Development Director Abdu Mukhtar pose after signing “Aide Memoire” for bilateral cooperation at the Plaza Seoul, Dec. 6. Under the agreement, the two sides will foster cooperation to help AfDB member states to imple...

Lee Kyung-min | 2019-12-06 17:43

Over half of women with preschoolers unemployed

Over half of women with preschoolers unemployed

Over half of mothers with children aged under seven are unemployed, indicating one out of two women stayed at home to raise children, government data showed Friday.

Lee Kyung-min | 2019-12-06 17:41

KB, Indonesian VC to establish $30 mil. fund for startups

KB, Indonesian VC to establish $30 mil. fund for startups

KB Investment and MDI Ventures, an Indonesian venture capital investor, plan to establish a joint fund worth $30 million (35.6 billion won) for startups in Southeast Asia. The joint investment is part of KB's efforts to diversify its revenue streams into emerging markets with huge growth potential. KB Investment is the venture investment arm of KB Financial Group.

Lee Min-hyung | 2019-12-06 17:13

For economic reform in 2020

For economic reform in 2020

First Vice Minister of Economy and Finance Kim Yong-beom, left, speaks while presiding over a meeting to discuss innovation for the nation's biotechnology industry, at the Government Complex Seoul, Friday. He also pledged to make drastic reform in five areas next year, including future-oriented manufacturing industry, labor market, public sector, structural change from declin...

Lee Min-hyung | 2019-12-06 17:12

Are foreign life insurers pulling out of Korea?

Are foreign life insurers pulling out of Korea?

Prudential Financial's move to sell its life insurance unit here has drawn attention as it may affect other foreign life insurers in Korea which are suffering worsening profitability due to the saturation of the local market. Over the past few years, a number of global players have left Korea - ING Group sold its life insurance unit in 2013, while Allianz sold its in 2016, fo...

Kim Bo-eun | 2019-12-05 17:23

Shinhan Bank hires chatbot as apprentice

Shinhan Bank hires chatbot as apprentice

Shinhan Bank officially appointed its virtual chatbot-assisted communication channel platform, “AI Moli,” as a new “employee” Nov. 21 in line with the beginning of the program's trial run that month, the bank said Wednesday.

Park Jae-hyuk | 2019-12-05 17:20

Investors to get up to 80% compensation for DLF losses

Investors to get up to 80% compensation for DLF losses

The Financial Supervisory Service (FSS) has ruled that banks should compensate 40 percent to 80 percent for victims of mis-selling of derivative-linked funds (DLF) that wiped out as much as 98 percent of the principal of investments, the regulator said Thursday. This is the highest level of compensation the authority's dispute settlement committee has concluded so far.

Kim Bo-eun | 2019-12-05 17:08

NH Prime REIT price soars after going public

NH Prime REIT price soars after going public

The stock price of NH Prime REIT soared after the company went public on Thursday. The initial public offering (IPO) price of the NH affiliate was 5,000 won ($4.20) a share, but it closed at 6,500 won, up 30 percent, after listing on the benchmark KOSPI, according to the Korea Exchange.

Lee Min-hyung | 2019-12-05 16:56

Korea-Kuwait Investment Forum

Korea-Kuwait Investment Forum

Kuwaiti Ambassador to Korea Bader Mohammad AI-Awadi speaks during the Korea-Kuwait Investment Forum at the headquarters of Citibank Korea in Seoul, Wednesday. The forum was designed to enhance economic partnerships between the two countries and celebrate the 40th anniversary of diplomatic ties. Citibank Korea CEO Park Jin-hei said it hosted the event to share success stories ...

Lee Min-hyung | 2019-12-05 16:42

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