Korea Times AI content 2 team Reporter
Value context and insight. lkm@koreatimes.co.kr
Woori Bank said Thursday that it had scrapped its decades-long practice of morning group exercise on Sept. 2 in the first move to reform the long-troubled corporate culture defined by chain of command.
KB Financial Group Chairman Yang Jong-hee met with Cambodian Senate President Hun Sen to enhance cooperation for the development of the financial industry across Association of Southeast Asian Nations (ASEAN) countries, the group said Wednesday.
An increasing number of local convenience stores are introducing meal packages to meet the needs of single-person households in the lead-up to the Chuseok long weekend, market watchers said Tuesday.
The government says the country’s headline inflation is trending down toward the central bank's target of 2 percent.
Bitcoin plunged 3 percent to $56,000 (76 million won), Friday, amid concerns over a U.S. economic slowdown, with market anxiety heightened by the impending release of August U.S. employment data, according to market watchers.Further fueling concerns over the sustained downtrend is a Bitfinex report forecasting a potential 20 percent drop in the values of the digital coins to $40,000 if the U.S. Federal Reserve (Fed) announces a 50 basis point in the federal funds rate this month.
Hana Financial Group opened an office in Monterrey, Mexico, marking the latest expansion of its marketing channels in North America. The new office aims to offer customized financial services to both Korean firms and local customers, the group said Thursday.
Woori Financial Group’s acquisition of Tongyang Life and ABL Life could be in jeopardy, as indicated by Financial Supervisory Service (FSS) Governor Lee Bok-hyun’s thinly veiled disapproval, market watchers said Thursday.
The global economy could experience a real income drop of 5 percent, strained by escalating geopolitical fragmentation including the Russia-Ukraine war, a senior economist at the international trade rules implementation and oversight body said Wednesday.
Woori Financial Group Chairman Yim Jong-yong / YonhapBy Lee Kyung-minWoori Financial Group and its banking, capital and card subsidiaries will undergo their regular inspection next month, the Financial Supervisory Service (FSS) said Tuesday. This is the latest development in the escalating scrutiny of the group’s questionable lending and business practices.Also under review is the group’s capital adequacy related to mergers and acquisitions of insurers. Whether the probe advanced by a year would complicate Woori’s acquisition of Tongyang Life and ABL Life remains to be seen.According to industry sources, the FSS sent a notice informing Woori of the regular investigation. The month-long regular inspection was initially scheduled for next year.Market watchers said the scrutiny of Woori will be particularly rigorous, as indicated by the notice given amid — and despite — the ongoing regular examination of KB Financial Group and its banking subsidiary KB Kookmin Bank. Simultaneously regular inspections of two of Korea's top five financial groups is highly unu