The Korea Times

Mirae Asset Securities under pressure for funding screenings of controversial film after leveraged ETF row

Mirae Asset Securities is facing scrutiny over its sponsorship of group screenings of “The Assassin(s)” for employees of public institutions, adding to pressure on the brokerage amid controversies over a failed SpaceX stock allocation and single-stock leveraged investment products ahead of the National Assembly’s annual audit. According to industry officials, the brokerage recently covered the cost of group screenings of the film, which has been accused of distorting history, attended by employees of the Korea Land & Housing Corp. and the Korea Authority of Land & Infrastructure Safety in Jinju, South Gyeongsang Province. The screenings were organized by the institutions themselves, while Mirae Asset Securities, which manages their retirement pension accounts, paid for the movie tickets. Regarding this, Lee Jong-bae, a former Seoul city council member from the conservative opposition People Power Party (PPP), filed a complaint with the Seoul Metropolitan Police Agency on Wednesday against Mirae Asset Securities and officials from the two public institutions, alleging violations of

Oct 2, 2026By Lee Hyo-jin

Mirae Asset Securities under pressure for funding screenings of controversial film after leveraged ETF row

Economy

College students' living expense loans increase amid soaring housing, food costs

"I make about 600,000 won ($440) a month from my part-time job at a cafe. Even with a little help from my parents, I can't cover my rent and living expenses," said Kim, a college student living in Seongbuk District, Seoul. "I've been asking my friends about income requirements and other eligibility criteria because I'm considering taking out a loan from the Korea Student Aid Foundation (KOSAF) next semester," she said. Kim's concerns reflect a broader trend, with living-expense loans taken out by college students surging by nearly one-third over the past two years, while overdue balances also rose sharply, data showed Thursday. The amount of living-expense loans extended to university students by KOSAF rose 32.8 percent to 850.6 billion won ($626.5 million) in 2025 from 640.67 billion won in 2023, according to data submitted by KOSAF to Rep. Kang Kyung-sook of the Rebuilding Korea Party. The number of loans also increased from 432,171 to 457,129 over the same period. The loans are designed to provide students with accessible financing for living expenses. They carry an annual interest rat

Oct 2, 2026By Lee Hyo-jin

College students' living expense loans increase amid soaring housing, food costs

Banking & Finance

Shinhan Bank hit by data breach affecting 25,000 customers

Shinhan Bank apologized Thursday after personal information belonging to about 25,000 customers was leaked in a data breach, as financial regulators launched an urgent inspection into the incident. According to the bank, the leaked information includes customers' names, phone numbers, annual income and loan eligibility limits, as well as other personal and credit information submitted for loan applications. The data also included 66 cases involving resident registration numbers and 97 cases involving connected information. The breach occurred as an unauthorized external party gained access to some of its services through an abnormal method that bypassed authentication. Shinhan Bank CEO Jung Sang-hyuk apologized and said the bank will take full responsibility for any losses. "We take full responsibility for the fact that an information breach occurred at a financial institution entrusted with protecting our customers' valuable assets and information," Jung said in a statement. "I sincerely apologize for causing concern and inconvenience to our customers. We will devote all resources to addr

Oct 1, 2026By Lee Hyo-jin

Shinhan Bank hit by data breach affecting 25,000 customers

Banking & Finance

Shinhan Bank's Vietnam unit under scrutiny over internal control issues

Shinhan Bank's Vietnam operations are facing scrutiny over internal controls after the Southeast Asian country's central bank issued nine corrective recommendations, including shortcomings in loan screening, according to industry officials on Wednesday. The State Bank of Vietnam's regional inspection authority issued its findings on Sept. 21 after conducting a comprehensive inspection of Shinhan Bank Vietnam's Da Nang branch. The inspection covered lending operations, asset classification and loan-loss provisions, risk management, foreign exchange transactions and overseas remittances. The authorities found shortcomings in loan screening and post-loan monitoring, as some loan applications lacked sufficient documents proving borrowers' income and repayment ability. The branch also failed to collect enough information on borrowers' financial condition and the purpose of loans in some cases. "There were some shortcomings in the loan screening and approval process," the inspection authorities said in the report. The branch was also found to have failed to follow its own schedule for monitorin

Sep 30, 2026By Lee Hyo-jin

Shinhan Bank's Vietnam unit under scrutiny over internal control issues

Banking & Finance

Hana Financial, SEMAS launch project to support young business owners

Hana Financial Group and the Small Enterprise & Market Service (SEMAS) have launched a joint project to support young owners of small businesses, the financial group said Wednesday. The project, dubbed "Hana On, Youth On," involves 15 teams of young small business owners from across the country. The teams will develop and carry out joint projects aimed at attracting customers and promoting local commercial districts. Hana Financial and SEMAS held a launch event Tuesday in Daejeon, attended by Hana Financial Chairman Ham Young-joo, SEMAS President In Tae-yeon and about 100 self-employed individuals taking part in the project. The initiative follows a memorandum of understanding signed by the two organizations in June to support young entrepreneurs and regional commercial districts. The participating teams will organize joint events and promotional campaigns, improve their business areas and develop other projects based on the needs of their respective local communities. Hana Financial and SEMAS will provide funding, expert consulting and tailored financial support. The project focuses on su

Sep 30, 2026By Lee Hyo-jin

Hana Financial, SEMAS launch project to support young business owners

Banking & Finance

Planned cut to bank hours sparks debate among customers

A planned 30-minute reduction in bank branch hours is drawing mixed reactions from customers, with many worrying that shorter service hours could make it harder to get in-person banking services. Under a tentative labor-management agreement reached Monday, bank branches will open at 9:30 a.m. starting April next year, instead of the current 9 a.m., while closing hours will remain unchanged at 4 p.m. Some customers said the shorter hours could worsen already long waits as banks continue to reduce the number of branches and staff. "Even when I go in the morning, there are already long lines, and there are fewer employees available during lunch breaks. I don't understand why they are shortening the hours. If anything, they should keep the branches open until later," said Park, an office worker in Seoul. Some online users suggested that if banks are going to shorten their operating hours, they should instead open later and close later, saying longer evening hours would make it easier for office workers to visit branches after work. The issue is particularly relevant for customers looking for

Sep 30, 2026By Lee Hyo-jin

Planned cut to bank hours sparks debate among customers

Economy

SNU business club alumni caught in alleged insider trading scheme

Financial authorities said Tuesday they had uncovered an alleged insider trading network involving members and alumni of a business club at Seoul National University (SNU) who shared undisclosed mergers and acquisitions (M&A) information and made more than 20 billion won ($14.7 million) in illicit gains. The joint task force of the Financial Services Commission, Financial Supervisory Service and Korea Exchange (KRX) conducted raids at more than 20 locations, including the suspects' homes and workplaces, to secure evidence in the case. The network allegedly involved more than five financial industry officials who attended Seoul National University and later worked at different asset management firms, private equity firms and listed companies, according to authorities. The task force said it had been investigating the case for about two years, expanding the scope of its probe through tracing funds, analyzing transactions and examining the suspects' personal connections. "The suspects did not gain access to the information as insiders at listed companies. Rather, they obtained it through th

Sep 29, 2026By Lee Hyo-jin

SNU business club alumni caught in alleged insider trading scheme

Cryptocurrency

Ruling party joins growing calls to delay crypto taxation

The ruling Democratic Party of Korea (DPK) joined opposition lawmakers and industry groups Monday in calling for a delay on cryptocurrency taxation, adding momentum to growing demand to postpone the planned January rollout. The tax is scheduled to take effect on Jan. 1, 2027, but concerns over the readiness of the tax system have grown as the deadline approaches. Rep. Min Byung-duk, a senior member of the DPK's policy committee, said that taxation should be pushed back until after the passage of the Digital Asset Basic Act. “It's not right to start taxation when the basic law has yet to be established. We need a solid foundation to collect taxes in a credible way, and that foundation is not yet in place," the lawmaker said at EastPoint: Seoul 2026, a private conference on virtual assets held Monday in Seoul. Min pointed to difficulties in tracking income from overseas exchanges and the lack of a system for carrying forward investment losses. He said his concerns were about the timing readiness of the tax system, rather than taxation itself. The DPK's calls for delay come as the governme

Sep 29, 2026By Lee Hyo-jin

Ruling party joins growing calls to delay crypto taxation

Banking & Finance

Bank branch hours to be cut by 30 minutes next April

Korea's bank branches will open 30 minutes later starting in April next year, reducing customer service hours under a tentative labor-management agreement reached Monday. Under the agreement, branches will open at 9:30 a.m., instead of the current 9 a.m., while closing hours will remain unchanged at 4 p.m. The tentative deal between the Korean Financial Industry Union, which represents workers at major commercial and policy banks, and the Korea Financial Industry Employers Association also calls for a 3 percent increase in total wages. The two sides began negotiations in April and reached the tentative deal after about five months of talks. The union said it would call off a planned strike scheduled for Wednesday following the agreement. The deal also includes a flexible work schedule allowing employees to delay their start time by up to one hour per week, with a maximum of 30 minutes per day. It also introduces a system for compensatory leave and changes to employee performance evaluations. It also calls for improvements to the mystery shopping system, which is currently used to assess c

Sep 28, 2026By Lee Hyo-jin

Bank branch hours to be cut by 30 minutes next April

Banking & Finance

BOK faces scrutiny over cybersecurity after staff data breach

The Bank of Korea (BOK) is facing scrutiny over its cybersecurity after the personal information of 186 employees was leaked in a hacking incident earlier this year, according to central bank's data submitted to Rep. Lee Jong-wook of the main opposition People Power Party (PPP), Monday. The breach occurred between May and June after hackers gained access to a GitHub system used by a contractor for the BOK's online training program. The leaked information included employees' names, email addresses, phone numbers, positions, duties and passwords. "We were notified by the contractor of the breach on June 11 and informed the affected employees the following day. We also reported the incident to the Personal Information Protection Commission," a BOK official said. The PPP lawmaker said the central bank should not take the leak of employees' personal information or repeated disruptions to its websites lightly. "As the central bank, the BOK should thoroughly assess the causes of the repeated incidents, review its overall security system and establish measures to prevent them from happening again

Sep 28, 2026By Lee Hyo-jin

Lee Hyo-jin

Read more

Mirae Asset Securities under pressure for funding screenings of controversial film after leveraged ETF row

College students' living expense loans increase amid soaring housing, food costs

Shinhan Bank hit by data breach affecting 25,000 customers

Shinhan Bank's Vietnam unit under scrutiny over internal control issues

Hana Financial, SEMAS launch project to support young business owners

Planned cut to bank hours sparks debate among customers

SNU business club alumni caught in alleged insider trading scheme

Ruling party joins growing calls to delay crypto taxation

Bank branch hours to be cut by 30 minutes next April

BOK faces scrutiny over cybersecurity after staff data breach

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