Korea Times Finance Reporter
Hello, I am Jun Ji-hye, a reporter at The Korea Times. I primarily cover financial authorities and write articles on a wide range of topics related to finance and capital markets. If you have any information to share, feel free to email me at jjh@koreatimes.co.kr, and I will review it carefully. I am committed to always doing my best to communicate with readers through high-quality articles.
The number of national pension subscribers continues to decline due mainly to the low birthrate and aging population, data from the National Pension Service (NPS) showed Sunday, raising concerns over its sustainability.
While digitalization and non-face-to-face services have become the norm for financial institutions such as banks and credit card companies, the insurance industry is lagging behind compared to other financial sectors.
The number of “zombie” companies, considered one of the causes of the so-called “Korea discount,” has yet to decline, although financial authorities have implemented various measures to delist them from the stock market.
KakaoBank recorded an operating profit of 606.9 billion won ($418 million) and a net income of 440.1 billion won last year, driven by growth in non-interest income, fees and platform businesses. This marks an all-time high, representing year-over-year increases of 26.8 percent and 24 percent, respectively, the company said Wednesday.
Samsung Life Insurance is reviewing a plan to make Samsung Fire & Marine Insurance its subsidiary following the latter’s recent announcement of corporate value enhancement strategies, according to industry sources, Wednesday.
Young Poong, which joined forces with private equity firm MBK Partners to secure control of Korea Zinc, has filed an injunction request with the Seoul Central District Court to suspend the seven board members recommended by the zinc smelter. The request cites significant procedural flaws in their appointments, the Young Poong-MBK alliance said Tuesday.
The Financial Supervisory Service (FSS) uncovered a total of 482 cases of inappropriate loans amounting to 387.5 billion won ($265 million) at Woori Bank, KB Kookmin Bank and NH NongHyup Bank, the financial watchdog said Tuesday.
Seoul Guarantee Insurance (SGI) is making a second attempt to debut on the benchmark KOSPI by significantly lowering its public offering price, the company said Tuesday.
An increasing number of insurance companies have launched small-sum, short-term products that boast high accessibility through digital enrollment and affordable premiums, in a bid to attract the MZ Generation, according to industry officials, Monday. The MZ Generation includes Millennials and Generation Z, born between the early 1980s and early 2010s.
The battleground for control of Korea Zinc has shifted from a shareholders' meeting to the courts, as Chairman Choi Yun-beom faces an injunction request made by the alliance of private equity firm MBK Partners and Young Poong to suspend the validity of the resolutions passed at the extraordinary shareholders' meeting on Jan. 23.