Banking & Finance

Korea Investment & Securities CEO called to appear at Assembly audit next week

Korea Investment & Securities CEO Jung Il-mun is slated to attend an audit at the National Assembly as a witness next week. Jung is expected to be grilled during his appearance at the audit session, as his firm is embroiled in allegations of unfair trade practices and technology theft against a startup company.

Oct 18, 2023By Anna J. Park

Korea Investment & Securities CEO called to appear at Assembly audit next week

Korea faces risk of slipping into L-shaped economic slump: experts

Korea faces an increased risk of an L-shaped economic slump, according to analysts, in stark contrast to the government’s forecast that the economy will overcome sluggish performance in the first half of this year and recover in the remaining half.

Oct 18, 2023By Yi Whan-woo

Korea faces risk of slipping into L-shaped economic slump: experts

Ethical framework crucial to cope with fast growth of AI: finance minister

An ethical framework on the use of technologies must be newly defined side by side with fast-growing artificial intelligence (AI) that is reshaping the era of digital transformation, Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho said, Wednesday.

Oct 17, 2023By Yi Whan-woo

Ethical framework crucial to cope with fast growth of AI: finance minister

Why do foreign banks let CEOs serve multiple terms?

While financial authorities are advocating for governance reforms and voicing concerns about the prolonged tenure of CEOs in the financial sector, foreign banks seem to be sidestepping these pressures.

Oct 17, 2023By Lee Yeon-woo

Why do foreign banks let CEOs serve multiple terms?

Naver, Kakao disappoint small investors with slumping performances

Once referred to as "national stocks," shares of Naver and Kakao are disappointing investors with sluggish performances this year. Securities firms have consistently reduced the target stock prices for both tech giants, predicting their third-quarter results will fall short of market expectations.

Oct 17, 2023By Lee Yeon-woo

Naver, Kakao disappoint small investors with slumping performances

MBK Partners chairman continues to donate to NYC's Met

MBK Partners Founder and Chairman Michael Byungju Kim made another donation to the Metropolitan Museum of Art in New York, following a $10 million donation last year.

Oct 17, 2023By Yoon Ja-young

MBK Partners chairman continues to donate to NYC's Met

SC Bank’s CEO to serve fourth term

Standard Chartered (SC) Bank Korea CEO Park Jong-bok was recommended as the sole final candidate for the top position at the bank. After obtaining approval from the shareholders' meeting and the board of directors, Park will continue serving as the bank’s chief for a fourth term.

Oct 16, 2023By Yoon Ja-young

Provincial administrations race to attract IBK relocation

As the Korea Development Bank (KDB) contemplates relocating to Busan, various provincial administrations are vying to attract the Industrial Bank of Korea (IBK) to their regions. They anticipate that the bank might be included in the second phase of relocations, in line with the government's policy to decentralize state-run institutions from Seoul.

Oct 13, 2023By Lee Yeon-woo

Provincial administrations race to attract IBK relocation

Insurers rush to introduce products tailor-made for diverse age groups

Insurance companies are rushing to introduce tailor-made medical insurance packages for customers in a wider range of age groups ― from newborns to preschool children, teenagers, salaried workers in their 20s to 40s and retirees aged 60 or older.

Oct 13, 2023By Yi Whan-woo

Insurers rush to introduce products tailor-made for diverse age groups

BOK likely to freeze key rate again amid colliding risks

The Bank of Korea (BOK) is anticipated to leave the policy rate unchanged again in its upcoming rate-setting meeting scheduled for next Thursday, to counter colliding financial risks increasingly complicating the country’s path to economic recovery.