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Lee Kyung-min

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Banking & Finance

Hana Financial opens Devanahalli, Mumbai branches in India amid overseas expansion drive

Hana Financial Group has opened new branches in Devanahalli and Mumbai, in a move to strengthen its global expansion drive in the Indian market, the group said Monday. The establishment of two branches completes the group’s One India network, cementing its presence in one of the world’s fastest-growing economies as well as its proximity to global supply chains and India’s rapidly expanding industrial ecosystem. Hana plans to enhance financial access for Korean businesses there, support local industries, and sharpen its competitiveness in global corporate and investment banking. The openings also demonstrate the group’s commitment to maintaining close customer communications backed by hands-on, practical and on-the-ground experience. Hana said it opened the Devanahalli branch on Dec. 3 (local time) and the Mumbai branch on Dec. 5. The group’s two previous branches were opened in Chennai in 2015 and Gurugram in 2019. Together, the four branches serve the country’s southern, northern, southwestern and western regions, helping Hana deliver region-specific financial support and resp

Dec 8, 2025By Lee Kyung-min
Hana Financial opens Devanahalli, Mumbai branches in India amid overseas expansion drive
Others

Low-income households grapple with declining income, inflation

Kim Mee-jin, 35, a part-time cashier and mother of two, said she is afraid to go grocery shopping these days. “Imported beef and even frozen chicken have become more expensive,” she said. “I try to buy whatever is on sale, but even those prices are rising. My children ask why we don’t have their favorite meals as often. I don’t want them to feel the pressure, but I worry every time I go to the mall.” Both she and her husband work, but the cost of living keeps rising, and she is constantly worried about how to spend her money and what expenses are truly necessary. "When prices of everyday items like food go up, I feel the pinch.” Similarly, Jun In-soo, 46, a delivery worker, stated that his paycheck has decreased while the cost of living has risen. “I used to make just enough to cover rent and food, but recently my hours were cut,” he said. “My income dropped, and rice, vegetables, even instant noodles cost more every month. I’m working the same job, but it feels like I’m finding it harder every day, no matter how hard I try.” He is particularly concerned about the

Dec 8, 2025By Lee Kyung-min
Low-income households grapple with declining income, inflation
Banking & Finance

Hana Financial's Travlog tops 10 mil. users amid digital innovation drive

Hana Financial Group’s Travlog platform has surpassed 10 million users, a feat highlighting the platform’s dominance amid the group’s accelerating shift toward digital travel finance services for outbound tourists, the group said Sunday. This solidifies Hana’s position as a leader in overseas payment and foreign exchange services amid fierce competition between banks and fintech firms to lock in a growing number of Korean travelers seeking easy, mobile-enabled financial services abroad. The group said Travlog has logged 5.4 trillion won ($3.6 billion) in foreign exchange transactions as of last week, the largest amount recorded by any financial platform in Korea. It has also maintained the top market share in the overseas debit card market for 34 consecutive months. Launched in July 2022, the platform was the first financial entity to introduce a fee-free foreign exchange service for international travelers. It also removed overseas remittance fees and overseas ATM withdrawal fees. As of December, these services led to a combined 336 billion won in savings for users. It services 58

Dec 7, 2025By Lee Kyung-min
Hana Financial's Travlog tops 10 mil. users amid digital innovation drive
Banking & Finance

Gov't moves to strengthen crypto exchanges' liability after Upbit hacking

The government is seeking to impose bank-level, no-fault compensation rules on crypto exchanges, prompted by a recent breach at Upbit, a crypto exchange operated by Dunamu, and a clear lack of regulatory framework in the country’s digital asset industry, market watchers said Sunday. The move is a shift to treat major crypto exchanges as rigorously as traditional financial platforms, applying similar scrutiny to compliance, consumer protection standards and the overall regulatory guidelines for Korea’s fast-growing crypto market. The Financial Services Commission (FSC) is reviewing provisions that would require virtual asset service providers, or crypto exchanges, to compensate users for losses caused by hacking or system failures — regardless of whether the exchange is at fault. This no-fault standard is currently applied only to financial institutions and electronic payment firms under the law governing electronic financial transactions. Propelling the move is a Nov. 27 Upbit incident that saw more than 104 billion Solana-based coins totaling about 44.5 billion won ($30.1 million)

Dec 7, 2025By Lee Kyung-min
Gov't moves to strengthen crypto exchanges' liability after Upbit hacking
Banking & Finance

Hana, Dunamu team up for AI financial services

Hana Financial Group and Dunamu, the operator of Korea’s crypto exchange Upbit, said Thursday that they signed an agreement to foster a new strategic partnership to develop global financial services backed by artificial intelligence (AI) and blockchain technologies, including digital assets and cross-border payment innovation. The first service to be introduced will apply blockchain technology to the overseas remittance process. Customers will be able to send and receive money and have their transfer information recorded on a blockchain ledger, enabling a faster, simpler and safer global money transfers. The two say that the new system will significantly reduce time and costs compared with existing remittance methods, expanding benefits not only for individual customers but also for exporters, importers and other companies involved in international trade. Hana Bank will introduce blockchain-based remittances between its headquarters and its overseas branches and subsidiaries as early as the first quarter of next year. Once initial technology verification is completed, the two will gradu

Dec 4, 2025By Lee Kyung-min
Hana, Dunamu team up for AI financial services
Banking & Finance

Banks strengthen anti-scam measures amid Coupang data breach fallout

Commercial lenders are strengthening their anti-scam measures, prompted by concerns over voice phishing and financial fraud after the Coupang data breach, market watchers said Thursday. The collective efforts include reinforcing detection, expanding specialized teams and intensifying customer prevention measures to identify scams before funds are transferred. Financial authorities have already issued a consumer warning, citing an increased likelihood of impersonation attempts based on leaked customer data. Shinhan Bank has integrated its artificial intelligence (AI) fraud detection model — designed based on known fraud patterns — into its voice phishing monitoring system. The model accounted for around 10 percent of all suspicious case detections in the first half of this year. Shinhan plans to further extend the role of AI in its monitoring operations by the end of the year. KB Kookmin Bank is expanding its financial crime monitoring workforce to increase the speed of fraud pattern analysis. Its upgraded AI system identifies suspicious transactions and quickly enables payment freezes

Dec 4, 2025By Lee Kyung-min
Banks strengthen anti-scam measures amid Coupang data breach fallout
Banking & Finance

Koreans increasingly anxious about personal data breach

Seo Ji-yeon, 42, a working mother, said she thought she had made peace with receiving spam calls, but the recent Coupang data breach pushed her anxiety to a new level. “My delivery and purchase history include my child’s school and cram school addresses,” she said. “I mean, it’s bad enough that my phone number is out there, but my kid’s information? That’s another story. Companies always apologize, but nothing really changes.” Receiving spam calls about new credit card issuance is something she is all too familiar with now — something she can easily brush off. However, she said she cannot afford to do that when it comes to her daughter. “I heard that the mother of my daughter’s friend at school received a voice phishing message and a phone call. It was apparently from someone pretending to be the daughter, asking her to send money to a certain account, saying she had lost her phone. When I heard that, it sent chills down my spine, because I don’t know what I would have done if it had happened to me.” Similarly, Kim Hee-sun, 29, an office worker, said she changes

Dec 4, 2025By Lee Kyung-min
Koreans increasingly anxious about personal data breach
Banking & Finance

Retail investors expand US equity holdings despite weakening won

Sung Won-ho, 34, an office worker in Seoul, said he will continue to increase holdings in U.S. artificial intelligence (AI) shares. “I know the Korean currency is weak, but I can’t miss out on the AI rally,” he said. “It costs me a bit more, sure — but that is a cost I’m willing to pay, since every day I hesitate, the more the stocks would inch up. Shares of Alphabet and Nvidia continue to climb after moderate corrections. Me waiting for the won to gain against the U.S. dollar costs me more, with my psychological and mental health factored in.” The equity market volatility is a factor he can’t brush off, but he strongly believes the U.S. market has growth momentum compared to the Korean market. “I want returns, and the U.S. market is where I know I can get it from,” Sung said. He is one of many retail investors increasingly turning to the U.S. stock market despite the won-to-dollar exchange rate weakening to the 1,470 range. According to data from the Korea Securities Depository, Koreans net bought $5.93 billion in U.S. stocks in November. The monthly figure is slightly

Dec 3, 2025By Lee Kyung-min
Retail investors expand US equity holdings despite weakening won
Others

Share buybacks used to strengthen management control instead of shareholder returns: report

Nearly two-thirds of treasury shares of listed firms bought back under the stated goal of strengthening shareholder returns were actually used to bolster management control and employee compensation, a report by a business data provider showed Tuesday. The findings coincide with expectations that the third amendment to Korea’s Commercial Code would pass before the year’s end. The revision seeks to require companies to cancel newly acquired treasury shares within one year of acquisition. It also requires an approval from at least two-thirds of shareholders, in case a company seeks to change the reason for selling off those shares or use them for a different purpose than the original plan. According to Leaders Index, about 20 percent of listed companies bought back their treasury shares every year over the past five years. Of the total of 2,067 disclosed plans, over 93 percent, or 1,936, cited “enhancing shareholder value” as the goal. Only 3 percent cited employee incentives as the reason, followed by one plan where both shareholder value enhancement and employee compensation were

Dec 2, 2025By Lee Kyung-min
Share buybacks used to strengthen management control instead of shareholder returns: report
Banking & Finance

Coupang users concerned about possible voice phishing after data breach

When the news broke that over 33 million Coupang customers’ personal information was leaked, including names, addresses, phone numbers and their recent purchase histories — Kim Joo-young, 40, an office worker in Seoul, checked her phone immediately to change her passwords. “It felt like someone could somehow just take everything from me, including my deposits in bank and brokerage accounts without me knowing,” she said. “I thought voice phishing was something I only hear on the news, but the Coupang incident taught me this is no joke and that it could happen to anyone. And that anyone could very well be me.” On Saturday, a day after the leak was reported, she received a text claiming her “recent parcel could not be delivered.” Normally, she would have ignored it. But when the whole country is talking about leaked addresses and purchases, that message suddenly felt like a threat she couldn’t brush off. “I was extremely careful not to click on the link attached by mistake. In the past, I wouldn’t have thought twice about it, but at that moment, I was gripped by fear t

Dec 2, 2025By Lee Kyung-min
Coupang users concerned about possible voice phishing after data breach
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