Korea Times AI content 2 team Reporter
Value context and insight. lkm@koreatimes.co.kr
Standard Chartered (SC) Bank Korea CEO Lee Kwang-hee began his term on Wednesday, two days after he outlined a strategy to fortify retail banking and wealth management services during a town hall with employees.
Had he invested in Samsung Electronics shares, his assets would have dropped to 31.6 billion won.
Internet-only lenders are strengthening their in-person services, bucking the industry-wide trend whereby bank branches are increasingly being closed as part of an accelerated digitization drive, market watchers said Tuesday.
The lack of honesty in the conversation about climate change is the most urgent issue before deliberating the cost in financial and social change terms, according to a noted macro and environmental expert.A lack of clarity distorts the message, fractures the arguments for action, and pretends that potential solutions can be achieved in easy bites, CEO of EBC Financial Group (UK) Ltd., said in an interview with The Korea Times. Based in London, EBC Financial Group is a globally leading broker, offering multi-asset class financial brokerage in forex, indices, shares, and commodities.
The martial law fiasco fallout is expected to cripple Korea’s fixed income market, as evidenced by the net foreign sell-off of 3 trillion won ($2 billion) in Korean Treasury Bonds (KTBs) in December of last year, market watchers said Sunday.
A decrease in the number of bank branches led to a weakened economy, stifled by corporate lending and the ensuing layoffs that reduced regional spending, a report analyzing Sweden's case showed Friday.
Employees of the country’s five largest commercial banks – KB Kookmin, Shinhan, Woori, Hana, and NH NongHyup – will be eligible for a voluntary retirement package that offers up to a 31 month lump-sum average monthly income, market watchers said Friday.
The Korean economy is expected to grow 1.8 percent this year, the finance ministry said Thursday, a significant downgrade from the previous forecast of 2.2 percent made in July last year. Underlying the pessimism is weak exports amid diminishing global competitive edge of leading Korean industries, compounded further by tariff and trade uncertainties from the second Trump administration. Exports growth forecast for this year was trimmed to 1.5 percent this year, down from 8.2 percent last year.Also at play is President Yoon Suk Yeol's botched martial law declaration on Dec. 3, last year, followed by political turmoil, including the National Assembly's passage of a motion to impeach Yoon and Prime Minister Han Duck-soo.
Woori Bank CEO Jung Jin-wan said trust, customer-centric services and innovation will be the top priorities to restore the confidence of its customers and the public at large, according to the lender, Wednesday.