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CEO & Publisher: Oh Young-jinDigital News Email: webmaster@koreatimes.co.krTel: 02-724-2114Online newspaper registration No: 서울,아52844Date of registration: 2020.02.05Masthead: The Korea TimesCopyright © koreatimes.co.kr. All rights reserved.

Delayed BOK chief nomination fuels leadership gap concerns

A delay in naming the next governor of the Bank of Korea (BOK) is adding to market uncertainty, with the incumbent's term set to expire next month and no successor yet announced, according to industry officials Thursday. Gov. Rhee Chang-yong's four-year term ends April 20, but the presidential office has yet to put forward a nominee. The post requires a parliamentary confirmation hearing, a process that typically takes three to four weeks, raising concerns about a potential leadership vacuum. The delay comes amid mounting economic uncertainty, as prolonged tensions in the Middle East push up fuel prices while inflationary pressures persist, with markets closely watching the central bank's policy direction. Observers say the government needs to move quickly, warning that a vacancy at the top could delay policy responses. "If a nominee is named within this week, we expect a new governor could be appointed in time. We are still waiting for an official announcement," a BOK official said, declining to comment further on the leadership transition. Speculation over potential candidates is buildi

Mar 19, 2026By Lee Hyo-jin
Delayed BOK chief nomination fuels leadership gap concerns

MetLife Korea staff lead industry in volunteer hours

MetLife Korea’s financial service representatives (FSRs) and employees recorded the highest per capita volunteer hours in Korea’s life insurance sector, the insurer said Thursday. An FSR is a specialized insurance agent who provides customized coverage, financial planning and advisory services, particularly for corporate clients and high-net-worth individuals. Data released by the Korea Life Insurance Association for the cumulative third quarter of 2025 showed that MetLife Korea employees logged an average of 10.73 volunteer hours per person, the highest among domestic peers. FSRs also remained actively engaged, averaging 4.16 hours per person. The company stood out in particular for the strong participation of its sales force. While fewer than 5 percent of agents at most local life insurers typically take part in volunteer activities, MetLife reported a participation rate of 54.54 percent. Total volunteer hours contributed by agents reached 15,188.5 through the third quarter. Combined with employee participation, overall volunteer hours came to around 22,000, underscoring the company

Mar 19, 2026By Jun Ji-hye
MetLife Korea staff lead industry in volunteer hours

Woori Bank teams up with viral ex-civil servant YouTuber

Woori Bank has teamed up with rising YouTuber Kim Sun-tae, known as "Chungju Man," to produce promotional content as the lender looks to expand its marketing reach among younger audiences, industry officials said Wednesday. The bank recently filmed a video with Kim though a release date has not been set. Woori employees said the YouTuber was seen at the bank's headquarters in Jung District, Seoul, earlier this week. The collaboration is said to be a one-off project rather than a formal brand ambassadorship. Kim, a former civil servant, rose to prominence for his creative content while working in media relations at the Chungju City Government. His work is widely regarded as a successful case of YouTube marketing in the public sector. After resigning in February, Kim launched his own channel which quickly gained traction, surpassing 1 million subscribers within 48 hours. Operating under the slogan "Promoting everything in the world," Kim has since drawn a flood of partnership offers from companies and public institutions. Dozens of firms and state-run agencies left comments on his first vid

Mar 18, 2026By Lee Hyo-jin
Woori Bank teams up with viral ex-civil servant YouTuber

Hana Bank to offer $104 mil. financing for SMEs in Jeolla region

Hana Bank said Tuesday it will provide 155.6 billion won ($104 million) in financing support for small and medium-sized enterprises (SMEs) in North and South Jeolla provinces in partnership with local authorities and state-backed guarantee agencies. The bank signed a memorandum of understanding the previous day with the Gwangju Metropolitan Government, the Gwangju Chamber of Commerce and Industry, the Korea Credit Guarantee Fund (KODIT) and the Korea Technology Finance Corporation (KOTEC) to support financing for SMEs in the Jeolla region. According to Hana officials, the initiative aims to help build sustainable growth momentum for businesses in the region while supporting the government's push for balanced national development and revitalizing the local economy. The bank will contribute a total of 4 billion won to guarantee funds run by KODIT and KOTEC, enabling up to 155.6 billion won in financing for companies in six strategic industries; artificial intelligence, biotechnology, content, defense, energy and smart manufacturing. The program will also provide a 0.6 percent guarantee fee

Mar 17, 2026By Lee Hyo-jin
Hana Bank to offer $104 mil. financing for SMEs in Jeolla region

Banks scramble to ensure safety of workers in Middle East

Korean banks with operations in the Middle East are rushing to secure the safety of their employees as the U.S.-Israel war against Iran spreads across the region, industry officials said Monday. No Korean financial institutions in the region have reported direct damage so far, but banks have begun relocating staff from conflict-affected areas and shifting operations to remote work, they said. Shinhan Bank's branch in Dubai currently has 11 employees, including three Korean staff members and eight locally hired workers, all working remotely. Families of the Korean employees have already returned to Korea. "The branch has remained closed and is currently conducting only non-face-to-face operations," a Shinhan Bank official said. "No employees have been injured or suffered damage, and we are checking the safety of our staff through real-time communication channels." Concerns intensified after buildings in the Dubai International Financial Centre were hit in an Iranian airstrike last Thursday, 500 meters from the building where Shinhan Bank's branch is located. Woori Bank, whose Dubai branch

Mar 16, 2026By Lee Hyo-jin
Banks scramble to ensure safety of workers in Middle East

Hana Financial to set up $340 mil. fund to back renewable energy, AI industries

Hana Financial Group will set up a 500 billion won ($340 million) infrastructure fund to invest in renewable energy and artificial intelligence (AI), the company said Monday. The fund will support major projects tied to national strategic priorities, including renewable energy and AI-related digital infrastructure. One of the key renewable energy investments will be an offshore wind power project in Wando, South Jeolla Province, one of the largest eco-friendly energy developments in Korea. Electricity generated from the wind farm is expected to supply power to AI data centers and advanced industrial facilities in the North and South Jeolla provinces. In the AI and digital infrastructure sector, the fund plans to invest in major AI hub centers in Bucheon, Gyeonggi Province, and in Incheon. The company said the infrastructure fund will go beyond simple equity investments by participating in projects at the early development stage. Through early investments, the group aims to secure high-quality assets and obtain financing arrangement rights when projects later require large-scale funding,

Mar 16, 2026By Lee Hyo-jin
Hana Financial to set up $340 mil. fund to back renewable energy, AI industries

Watchdog urges brokerages to enhance monitoring of illegal short selling

The country's financial watchdog said Friday that securities firms should thoroughly manage and monitor illegal short selling amid increased financial volatility caused by the extended Middle East crisis. The Financial Supervisory Service said illegal short selling schemes could increase by capitalizing on increased market swings, which in turn hurts market confidence. The watchdog said it will enhance the monitoring of any irregular movements related to short selling and will get tough on market-disturbing activities. Short selling is an investment strategy of selling borrowed securities with the intent of repaying them with stocks purchased later at a lower price. Short sellers gain profit from a drop in stock prices. Korea temporarily banned short selling in November 2023 amid concerns of naked, or illegal, short selling but reallowed it in late March last year.

Mar 13, 2026By Yonhap
Watchdog urges brokerages to enhance monitoring of illegal short selling

Activist fund Align Partners presses DB Insurance on governance, shareholder returns

Align Partners Capital Management has ramped up pressure on DB Insurance over shareholder value concerns by sending a second open letter to the insurer’s board, the activist fund said Friday. In the letter, issued Thursday in response to DB Insurance’s first shareholder communication on March 5, Align Partners urged the company to take stronger measures to enhance shareholder value and presented additional views on corporate governance reforms and shareholder return policies. The activist investor called for several changes, including adopting a management strategy based on return on required capital, strengthening shareholder return policies, improving internal transactions with group IT affiliate DB Inc., shifting to a joint trademark ownership structure, overhauling the executive compensation system, and reinforcing board independence. Align also raised new concerns regarding DB Insurance’s acquisition of U.S. insurer Fortegra. In September last year, DB Insurance signed a $1.65 billion deal to acquire Fortegra, the largest overseas takeover by a Korean insurer to date. The fund

Mar 13, 2026By Jun Ji-hye
Activist fund Align Partners presses DB Insurance on governance, shareholder returns

Card firms target business clients as consumer market saturates

Credit card companies are stepping up efforts to launch specialized cards designed for businesses in specific sectors as they shift their focus to business operators amid saturation in the consumer credit card market, industry officials said Friday. Card issuers are increasingly offering benefits tailored to the spending patterns of different sectors in an effort to build a loyal customer base. Payment volumes by business clients tend to be larger and their transaction cycles relatively stable, they said. Major card firms have recently introduced a series of products aimed at specific professions, including cargo truck operators and forestry workers. Unlike earlier products that were broadly categorized as business cards, the latest offerings are designed based on detailed analyses of industry-specific expenditure patterns. Woori Card recently rolled out the industry’s first fully non-face-to-face application and issuance system for cargo welfare cards that does not require document submissions. Instead of asking applicants to provide paperwork such as business registration certificates

Mar 13, 2026By Jun Ji-hye
Card firms target business clients as consumer market saturates

Gov't checks marine insurers' war-risk reinsurance amid Middle East tensions

The Financial Supervisory Service (FSS) is examining whether local nonlife insurers that provide marine insurance have adequate war-risk protection through their reinsurers as attacks on vessels continue near the Strait of Hormuz amid escalating tensions following U.S. and Israeli military strikes on Iran, officials said Wednesday. Marine reinsurance contracts generally exclude full compensation for losses arising from armed conflicts. When geopolitical risks intensify, insurers are often required to purchase separate and significantly more expensive reinsurance coverage specifically designed for war-related damage. Reinsurance is a mechanism that allows insurers to transfer part or all of the risks they assume to another insurance company. Firms rely on such arrangements to reduce potential financial exposure from large-scale claims. The financial watchdog recently asked major domestic nonlife insurers, including Samsung Fire & Marine Insurance, DB Insurance and Hyundai Marine & Fire Insurance, to verify whether their reinsurance arrangements include protection against war-related risk

Mar 12, 2026By Jun Ji-hye
Gov't checks marine insurers' war-risk reinsurance amid Middle East tensions
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