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Tue, September 24, 2019 | 00:24

Banks face hiring pressure from gov't

Shinhan, KB and other banks are in a difficult position because they face decreasing demand for workers but the government is pressuring them to hire new employees to maintain the workforce at the current level, according to industry officials Friday.

Banks | 2019-08-30 16:53

Hyundai Card issues W240 bil. in green bonds

Hyundai Card issued 240 billion won ($198.23 million) in green bonds, the firm said Friday. It is the first card firm here to issue Korean won-denominated green bonds. According to the card issuer, it raised funds from institutional investors through the bonds with a maturity of two to seven years.

Non-banks | 2019-08-30 16:33

Financial consumer law gaining traction from DLS case

The ongoing controversy over the sale of financial derivatives products that are set to incur huge losses for investors is expected to pave the way for long-pending bills on financial consumer protections to be passed. The financial authorities are supporting the legislation of such bills as a means to prevent practices such as mis-selling, rather than by regulating the priva...

Policies | 2019-08-30 08:49

Card firms accelerate overseas expansion

Card firms are gearing up to expand their overseas businesses, especially in Southeast Asia, as their subsidiaries have begun seeing profits. Subsidiaries in the fast-growing region have become increasingly important for the card issuers as they face tough circumstances here, including a government-led cut in fees.

Banks | 2019-08-30 08:49

To assist firms specializing in parts, materials

Shinhan Bank's Vice Executive President Choi Dong-wook, left, poses with Innobiz Association Vice President Kim Jong-gil, center, and Korea Technology Finance Corp Executive Director Kim Young-choon, after signing an agreement at COEX in southern Seoul, Monday. They agreed to boost assistance for firms specializing in parts and materials. / Courtesy of Shinhan Bank

Banks | 2019-08-27 16:52

ABL launches dollar-denominated pension insurance

ABL Life launched a dollar-denominated pension insurance plan, on the back of the popularity of such products as the dollar appreciates against the won. Subscribers to the single-premium product can accumulate payout through a fixed interest rate for a period of five or 10 years. The interest rate is fixed when the subscriber signs up for the product.

Non-banks | 2019-08-27 16:51

Bank CEOs to join Moon on Southeast Asia trip

The chiefs of state-run and commercial banks will accompany President Moon Jae-in on his trip to Southeast Asia next month, according to industry sources, Monday. Korea Federation of Banks Chairman and CEO Kim Tae-young, Industrial Bank of Korea (IBK) Chairman Kim Do-jin and Korea Export-Import Bank (Eximbank) Deputy President Kang Seung-joong are part of the mission to Myanm...

Banks | 2019-08-26 17:07

FSS should not pass the buck to banks

The Financial Supervisory Service (FSS) has been in the hot seat for its loose supervision of banks' risk management systems as the latters' sales of controversial derivatives products are set to end up incurring major losses for individual investors. The FSS, including its chief Yoon Suk-heon, are shifting all the blame onto the financial firms that sold those products, but ...

Policies | 2019-08-23 16:55

Samsung Life faces FSS inspection next week

The nation's largest life insurer faces a comprehensive inspection by the financial authorities starting next week. While Samsung Life Insurance and the Financial Supervisory Service (FSS) declined to specify the date, a preliminary inspection is set to begin then.

Policies | 2019-08-23 16:29

Specter of global recession looms larger

The global economy is facing growing risks of slipping into recession, as the world's major economies are losing steam due to a slowdown amid lingering uncertainties caused by an escalating trade dispute between the U.S. and China. Experts said that Korea is likely to be a major victim of any such recession due to its heavy dependence on external trade. Against this backdrop,...

Economy | 2019-08-22 21:38

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