Korea Times AI content 2 team Reporter
Value context and insight. lkm@koreatimes.co.kr
Fintechs and online platforms operated by leading commercial lenders began providing mortgage refinancing services for apartments valued below 1 billion won ($762,700), financial authorities said Tuesday. Jeonse loan services are scheduled to commence on January 31.
The country’s top four commercial lenders are on alert over an investigation by the Fair Trade Commission (FTC) into years of alleged collusion whereby their terms and conditions for secured loans were maintained at similar levels to limit competition, according to market watchers, Monday. They are KB Kookmin, Shinhan, Hana and Woori.
KB Financial Group held a management workshop to discuss long-term management strategies and implementation plans, the group said Monday.
Weeks of irresponsibility concerning Taeyoung Engineering & Construction, the troubled affiliate of Taeyoung Group, is bringing into question the group’s ownership of SBS, a local broadcaster and the group’s most lucrative affiliate, according to market watchers Sunday.
The country’s top five commercial lenders made a combined 411 billion won ($312 million) in donations last year, up more than 65 percent from the previous year, prodded by the government's “mutual growth” push to help small businesses, data showed Sunday. The money was put mainly toward helping children, low-income earners, multicultural families and small businesses.
Heightened risks of real estate project financing and household debt can be reduced, if more private bodies and state-run organizations use their funds to buy real estate, an economist said Thursday.
What are crocodile tears?
Mirae Asset Group Chairman Park Hyeon-joo will donate 25 percent of Mirae Asset Consulting shares to Mirae Asset Hope Foundation to nurture promising young Koreans, the group said Wednesday.
The heads of Korea’s leading financial groups – KB, Shinhan, Woori, Hana and NH NongHyup – each announced their New Year message emphasizing risk management as the top priority to navigate uncertainties this year,Tuesday.
Three local ratings agencies are coming under heavy criticism for slashing credit ratings for Taeyoung Engineering and Construction, only hours after the troubled builder filed for debt workout, on Dec. 28 of last year. They are Moody's Investors Service-affiliated Korea Investors Service, Korea Ratings and NICE Investors Service.