Banking & Finance

Opposition agrees to scrap disputed financial investment income tax scheme

The main opposition Democratic Party of Korea (DPK) has decided to support the government's plan to scrap a controversial scheme that sought to slap taxes on incomes generated from financial investments.

Nov 4, 2024By Yi Whan-woo

Opposition agrees to scrap disputed financial investment income tax scheme

Authorities accelerate process to grant license for 4th internet bank

Financial authorities are accelerating the process for the country's fourth internet-only bank license, planning to announce the specific conditions for the new bank later this month and hold an information session for prospective applicants within the year, according to officials, Monday.

Nov 4, 2024By Jun Ji-hye

Authorities accelerate process to grant license for 4th internet bank

More Koreans appear to be wealthy enough to save W1 bil. in cash: report

More Koreans appear to be rich enough to save more than 1 billion won ($724,300) in cash and reap large interest income correspondingly, according to data, Sunday.

Nov 4, 2024By Yi Whan-woo

More Koreans appear to be wealthy enough to save W1 bil. in cash: report

Banks send more employees abroad to expand global presence

Major commercial banks in Korea are sending more employees abroad as they step up efforts to expand into the global market, data showed Sunday.

Nov 3, 2024By Yi Whan-woo

Banks send more employees abroad to expand global presence

Why are loan rates rising even after BOK's rate cut?

Despite a recent rate cut by the Bank of Korea (BOK), loan rates at major banks continue to rise due to regulatory pressure to tighten household lending. As these banks reduce deposit rates in response to the key rate decrease, the loan-deposit margin is expected to enhance their interest income this year.

Nov 3, 2024By Lee Yeon-woo

Why are loan rates rising even after BOK's rate cut?

Hana opens 100th day care center, completes six-year project

Hana Financial Group said Sunday that it held an opening ceremony for its 100th day care center in Bonghwa, North Gyeongsang Province. This marks the completion of its social responsibility initiative to build 100 day care centers, aimed at addressing the low birthrate and supporting local communities.

Nov 3, 2024By Lee Yeon-woo

Hana opens 100th day care center, completes six-year project

Paik Jong-won’s Theborn Korea fails to fill employee stock ownership subscription

Theborn Korea, a food and beverage franchise founded by celebrity chef Paik Jong-won and set to go public on the KOSPI on Wednesday, faced a significant shortfall in employee stock ownership subscriptions.

Nov 1, 2024By Jun Ji-hye

Paik Jong-won’s Theborn Korea fails to fill employee stock ownership subscription

McKinsey & Company appoints 2 new partners in Korea

McKinsey & Company has promoted two associate partners, Um Soo-hyung and Koo Won-mo, to the position of partner, according to McKinsey Korea Office, Friday.

Nov 1, 2024By Jun Ji-hye

McKinsey & Company appoints 2 new partners in Korea

Financial watchdog puts brakes on Korea Zinc's issuance of new shares

The Financial Supervisory Service (FSS) is set to put the brakes on Korea Zinc’s plan for a large-scale capital increase through the issuance of new shares.

Oct 31, 2024By Jun Ji-hye

Financial watchdog puts brakes on Korea Zinc's issuance of new shares

Hanwha supports Vietnam's future fintech leaders

Students from Vietnam-Korea University of Information and Communication Technology participate in the VKU Fintech Student Excellence Program at Hanwha Life training center in Yongin, Gyeonggi Province, Wednesday. The insurer is supporting the program to nurture fintech experts in Vietnam. Courtesy of Hanwha Life

Oct 31, 2024By Yoon Ja-young

Hanwha supports Vietnam's future fintech leaders

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