Banking & Finance

Young Koreans ditch SMEs, prefer conglomerates

Young Koreans are increasingly shunning working for small and medium-sized enterprises (SMEs) despite the falling employment rate of young people that inched down 0.3 percentage points year-on-year to 45.9 percent in March.

Flex out, thrift in for Gen MZ as high cost of living hits home

Chung Ah-reum, an office worker in her mid-30s, stays away from purchasing handbags, shoes and clothing from luxury fashion brands nowadays after having been obsessed with buying such items in her early 30s.

Small business owners reel under soaring inflation

Soaring inflation and the subsequent decrease in sales are forcing heavily indebted small business owners in Korea into a dilemma where they are prepared to accept higher interest rates if they can aid in controlling inflation.

Hana Artverse 2024 honors artists with developmental disabilities

Hana Financial Group awarded and honored artists with developmental disabilities at its Hana Artverse ceremony on Friday, commemorating the 44th Day of Disability in the country.

Woori Bank opens special branch for SMEs

Woori Bank CEO Cho Byung-kyu, third from right, stands next to heads of small and medium-sized enterprises (SMEs) during the opening ceremony of the bank's Seoul Digital BIZ Prime Center branch inside the Seoul Digital Industrial Complex in Guro District, Seoul, Thursday. The branch will be a specialized channel for SMEs, aiming to provide various financing services for companies located in the industrial complex. Courtesy of Woori Bank

How will Korean banks fare in mobile industry?

Banks are increasingly considering entering the mobile phone service market following the financial authorities' recognition of Liiv M, KB Kookmin Bank's mobile service, as a formal ancillary business for banks.

Mirae Asset Global Investments' US wing aims to become global top-tier ETF brand

Global X, the U.S.-based exchange-traded fund (ETF) subsidiary of Mirae Asset Global Investments, aims to enhance its brand influence and pursue new growth opportunities under new CEO Ryan O'Connor.

Hyundai Capital expands into Indonesia with takeover of local finance firm

Hyundai Capital, the finance arm of Hyundai Motor Group, announced Thursday that it has completed the takeover of an Indonesian finance company, thereby entering the Indonesian market.

Naver Pay, Billboard join hands for fintech-entertainment partnership

IMF maintains Korea's 2024 economic growth outlook at 2.3%

The International Monetary Fund (IMF) kept its outlook for Korea's economic growth this year unchanged at 2.3 percent, Tuesday, from its previous forecast announced in January.