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On the Spot
: Kim Bo-eun
Thu, July 18, 2019 | 12:49
Kyobo Life gears up to start platform business
Kyobo Life Insurance has begun working with startups to expand its services into healthcare and ultimately create a platform offering various services, the insurer said Wednesday. The move comes as financial authorities pledged earlier this month to allow insurers to expand their businesses into the healthcare sector.
| 2019-07-17 15:13
Merrill Lynch fined W175 mil. for high-frequency trading
Merrill Lynch's Seoul office was fined 175 million won ($148,500) for violating regulations on high-frequency trading, the Korea Exchange (KRX) said Tuesday. Investigations showed the securities firm engaged in 6,220 cases of high-frequency trading on behalf of Citadel Securities, from October 2017 to May 2018.
| 2019-07-16 16:31
Korea Exchange fined by US CFTC for false statement
The Korea Exchange has been fined by U.S. authorities for submitting false statements on its compliance with international financial regulations. An order filed by the U.S. Commodity Futures Trading Commission (CFTC) July 12 says the KRX falsely stated in its annual certification that it was in compliance with the CFTC's order requiring that KRX observe certain international ...
| 2019-07-16 15:32
Support for SMEs' overseas affiliates
KEB Hana Bank CEO Ji Sung-kyoo, right, poses with Korea Technology Finance Corp. (KOTEC) Chairman Jeong Yoon-mo after the two signed an agreement on supporting small- and medium-sized enterprises (SMEs), at KOTEC's office on Yeouido, Seoul, Monday. KEB Hana Bank will provide loans for SMEs' overseas affiliates. / Courtesy of KEB Hana Bank
| 2019-07-15 16:49
KB Securities facilitates investment in Vietnam
KB Securities is focusing on offering services facilitating investment in Vietnam to capitalize on the potential of the Southeast Asian country. The brokerage said Monday it has added Vietnam to its Global One Market Service, which allows investors to trade foreign stocks in Korean won.
| 2019-07-15 16:49
MetLife Korea's dollar insurance enjoys popularity
With the dollar sharply appreciating against the won, insurance products that take premiums and pay claims in dollars are drawing interest. Among some products that have attracted attention are MetLife Korea's Universal Dollar Whole Life, launched in January 2018. This was the first dollar-denominated interest-sensitive whole life insurance in Korea, as MetLife pioneered the ...
| 2019-07-15 14:25
'Open Finance' at heart of Woori's digital strategy
Woori Bank's digital strategy is all about opening up its data, functions and customer base, according to the bank's chief digital officer (CDO). “Banks no longer keep technology and ideas exclusively to themselves. They need to develop products and services together with partners and customers, and need to tear down walls to enable this,” Woori Bank's CDO Hwang Weon-cheol to...
| 2019-07-14 16:55
Card firms axe sales jobs amid digitization
Card issuers are reducing their number of salespeople due to a steady increase in digital transactions coupled with a deterioration in profit margins caused by the government's fee reduction policy. Data show that 849 salespeople were let go at seven card firms - Shinhan, KB Kookmin, Samsung, Hyundai, Hana, Woori and Lotte - in the first half of the year, shrinking their numb...
| 2019-07-14 16:48
Startups benefit from Dinno Lab's test bed
What startups need most is a test bed through which they can test their technology and receive feedback, according to those in the field. “Because the finance sector is highly conservative, companies have a lot of doubt about new technology,” Infosonic CEO Cho Hoon-taek said. “The first question they ask is if we have a reference.”
| 2019-07-14 16:36
Returning from Japan
Samsung Samsung Electronics Vice Chairman Lee Jae-yong exits Gimpo International Airport, Friday evening, after a six-day visit to Japan following Tokyo's decision to impose export restrictions on resource materials for semiconductors. According to Japanese media reports, Lee met with executives of three of Japan's major financial groups and conveyed his concerns about the me...
| 2019-07-12 21:54
Ban on intrusive job interview questions comes into force
Typhoon barreling toward Korean Peninsula
McDonald's customer served 'almost completely raw' chicken burger
Hollys, Daiso struggling with tumbler fiasco
Psy unveils music video in collaboration with Suzy
Washington unwilling to actively mediate Seoul-Tokyo trade friction
Ex-Samsung engineer develops app for healthy diet
Skepticism growing over Korean economy
CEO brings Prestigious startup to Korea
Rockies' Oh Seung-hwan to undergo season-ending elbow surgery
Celebrating Korea-Czech relations
FINA World Championships 2019
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