Banking & Finance

Banks trim retirement packages following growing criticism of hefty incentives

As voluntary retirement season begins in the banking industry, incentives offered to entice workers to retire early seem less favorable this year despite the sector's robust earnings. This adjustment is a response to public criticism, accusing banks of offering substantial payments to employees while the public faces heightened debt burdens from high interest rates.

Dec 31, 2023By Lee Yeon-woo

Banks trim retirement packages following growing criticism of hefty incentives

IBK establishes venture capital subsidiary

Industrial Bank of Korea (IBK) announced on Thursday that it has established IBK Venture Investment, a venture capital subsidiary, with an initial investment of 100 billion won ($77 million). This marks the first time the government-run bank has launched a venture capital firm.

Dec 28, 2023By Lee Yeon-woo

IBK establishes venture capital subsidiary

KB Kookmin Bank set to open at Incheon International Airport in 2024

KB Kookmin Bank is actively preparing to establish a banking outlet and currency exchange services at Incheon International Airport, having secured the right to do so there for the first time in a decade. These facilities are scheduled to open next year.

Dec 28, 2023By Lee Yeon-woo

KB Kookmin Bank set to open at Incheon International Airport in 2024

Troubled builder Taeyoung E&C files for debt workout

Ailing builder Taeyoung Engineering & Construction applied for a debt-restructuring program Thursday to tide over a cash crunch, raising concerns over troubled peers in Korea.

Dec 28, 2023

Troubled builder Taeyoung E&C files for debt workout

BNK Kyongnam Bank under fire for repeated employee misconduct

BNK Kyongnam Bank is coming under heavy criticism for internal control failures, as clearly illustrated by cases involving an employee embezzling 300 billion won ($231 million) and a senior official trading stocks using borrowed names, according to market watchers, Wednesday.

Dec 27, 2023By Lee Kyung-min

BNK Kyongnam Bank under fire for repeated employee misconduct

Korean financial firms launch 'super apps' to compete in digital age

Major Korean financial firms are consecutively launching "super apps" that allow customers to access all their financial services within a single application. This trend represents a strategic move to remain competitive against Big Tech companies and internet-only banks, while also aiming to reduce labor costs through increased digitalization.

Dec 27, 2023By Lee Yeon-woo

Korean financial firms launch 'super apps' to compete in digital age

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Banking & Finance

Banks trim retirement packages following growing criticism of hefty incentives

IBK establishes venture capital subsidiary

KB Kookmin Bank set to open at Incheon International Airport in 2024

Troubled builder Taeyoung E&C files for debt workout

BNK Kyongnam Bank under fire for repeated employee misconduct

Korean financial firms launch 'super apps' to compete in digital age

Upbeat outlook for 2024 Korean stocks over widely anticipated US rate cuts

MBK's Hankook & Company takeover bid fails

Gov't struggles to sell shares of Nexon's holding firm

INTERVIEW Diversity, inclusion crucial to elevating ethical standards in finance

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