my timesThe Korea Times
BusinessBanking & Finance

Banking & Finance

Korea Times
About Us
Introduction
History
Contact Us
Products & Services
Subscribe
E-paper
RSS Service
Content Sales
Site Map
Policy
Code of Ethics
Ombudsman
Privacy Policy
Youth Protection Policy
Terms of Service
Copyright Policy
Family Site
Hankookilbo
Dongwha Group
FacebookXYoutubeInstagram
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.

Cho to help Suhyup attract young customers

Cho Bo-ah poses with Suhyup Bank's whale character. Courtesy of Suhyup BankBy Park Hyong-kiCho Bo-ah, a local TV and film star, will be representing and promoting Suhyup Bank to help it attract young customers for a year, according to Suhyup, Monday.She became the bank's PR ambassador last month. “Given Cho's strong appeal to young people, she will be able to back us to target customers in their 20s,” said a Suhyup Bank spokesman. She has been appearing in TV advertisements and on posters, posing with Suhyup's account books and “Hey! Friends” characters including Ara the Mermaid and Raon the Whale.Cho debuted with a minor supporting role in the 2011 JTBC sitcom, “I Live in Cheongdam-dong.”The 27-year-old actress' big break came when she starred with actor Jang Hyuck in the 2014 thriller, “Innocent Thing.” She played a student who was obsessed with her gym teacher to the point where she wanted to kill his family and marry him. Before then, she only had minor roles in TV dramas and music videos.Cho studied tourism business in college, but

May 13, 2019
Cho to help Suhyup attract young customers

Boosting alternative assets

Korea Investment Corp. (KIC) CEO Choi Hee-nam, right, shakes hands with So Seong-mo, president of the National Agricultural Cooperative Federation, at the KIC headquarters in Seoul, Monday, after agreeing to collaborate on managing alternative assets overseas. The KIC said it will help the federation boost its investment returns abroad. Courtesy of KIC

May 13, 2019
Boosting alternative assets

How Lina beats bigger players in Korea

US life insurer ranks third in profits despite tiny sizeBy Kim Bo-eunThe domestic life insurance market has become increasingly tough, with 11 out of 18 major life insurers' profits falling in 2018.Lina Life Korea was the only among major foreign life insurers that saw an increase in net profit in 2018, from a year earlier. Lina is a life insurance affiliate of the U.S.-based Cigna Group.Lina is one of the smallest insurers in terms of total assets, but ranks third in terms of net profits posted in 2018. The top two are the country's largest life insurers _ Samsung and Kyobo Life Insurance. Samsung Life's total assets came to 262.23 trillion won in 2018, and Kyobo Life 101.49 trillion won. This compares with Lina's total assets, which amounted to 4.46 trillion won in 2018.Samsung's net profit in 2018 stood at 1.8 trillion won and Kyobo's 506.63 billion won. Lina recorded 370.1 billion won in net profit the same year.Lina's return on equity (ROE) ratio was 26.61 percent and return on assets (ROA) ratio 8.43 percent in 2018, both showing improvement from a year earlier. They are well a

May 13, 2019By Kim Bo-eun
How Lina beats bigger players in Korea

Branch for foreign customers

KEB Hana Bank's head of sales for North and South Jeolla provinces Chung Min-sik, fifth from right, poses with officials and guests at a ceremony to mark the launch of the bank's Gwangsan branch's extended operations, Sunday. The branch, which will be open on Sundays, was launched to serve migrant workers. / Courtesy of KEB Hana Bank

May 13, 2019By Kim Bo-eun
Branch for foreign customers

Korean banks seek expansion in Indonesia

A Bank Woori Saudara employee greets a customer in Jakarta, Indonesia in this 2018 file photo. Courtesy of Woori BankBy Park Hyong-kiLocal banks are seeking to increase their presence in Indonesia by expanding their services in digital banking and asset management.Bank Shinhan Indonesia has launched a new online service enabling local customers to wire money overseas, according to Shinhan Bank in Seoul, Sunday.They can transfer funds in six currencies including the Japanese yen and Hong Kong dollar. The bank said it seeks to further expand by introducing its SOL platform in Indonesia. Shinhan Bank told The Korea Times last year that it will launch the Indonesian version of the SOL in 2019, as well as a Vietnam version. “We will launch the SOL in Indonesia by June this year. This will enable local customers to open accounts without having to visit our retail branch there,” said a Shinhan Bank spokesman. Bank Woori Saudara, meanwhile, has been holding a series of seminars on asset management for Indonesia customers, Woori Bank in Seoul said. While the Indonesian unit is mov

May 12, 2019
Korean banks seek expansion in Indonesia

Welcome, newbies

NongHyup Financial Group Chairman Kim Gwang-soo delivers a special speech on banking to NongHyup Bank's new employees at the group's training center in Cheongju, North Chungcheong Province, Saturday. Kim said the bank must pursue digital transformation. Courtesy of NongHyup Financial Group

May 12, 2019
Welcome, newbies

INTERVIEW NongHyup bolsters digital innovation

NongHyup Bank CEO Lee Dae-hoon / Courtesy of NongHyup BankBank carries out two-track strategy for platforms, Southeast AsiaBy Park Hyong-kiNongHyup Bank will carry out a “two-track digital strategy” for its two mobile banking platforms, said Lee Dae-hoon, the bank's chief executive. NH Smart Banking is for the general public, especially the elderly. And All One Bank is for young people, who not only seek to use mobile banking services, but also access and experience nonfinancial content.Because of the two platforms, NongHyup said it was not interested in applying for a mobile internet banking license.But before it can further beef up the two, Lee said it will take more than just strengthening its computer programmers, engineers and data analysts unit.Everybody at every department will need to change and develop their digital skills if NongHyup wants to succeed in carrying out the two-track mobile strategy and become a “true digital company,” Lee said. “We need to change into a fast and agile organization that can help spur innovation with the use of tech

May 12, 2019
[INTERVIEW] NongHyup bolsters digital innovation

Shinhan to bolster investment banking business

Cho Yong-byoungBy Lee Kyung-min Shinhan Financial Group will inject 660 billion won ($560 million) into Shinhan Investment, a move to strengthen its brokerage unit as a major global investment bank, the group said Friday. The amount will help Shinhan Investment meet the 4 trillion won equity capital requirement, a prerequisite to seeking a license from the financial authorities to become a “mega investment bank.” Only a bank designated as such is allowed to issue a promissory note with the maximum limit of 200 percent of its equity capital. The unit only had 3.37 trillion won as of 2018. The group agreed to approve the plan at a board meeting, Friday, with the whole process to be completed in the latter half of 2019. Of the total, 460 billion won will be drawn from the group's reserves, with the remaining 200 billion won from hybrid bonds to be issued soon. “The approval will help the firm take the next step to a promissory note business which we issue relying on our reputation in the market,” a Shinhan Financial Group official said. “Funds drawn through

May 10, 2019By Lee Kyung-min
Shinhan to bolster investment banking business

KB Securities gets approval to issue promissory note

The KB Securities head office on Yeouido, Seoul / Courtesy of KB SecuritiesBy Jhoo Dong-chanKB Securities has received the green light to issue a promissory note for the third time among local brokerages after Korea and NH Investment & Securities.According to the Financial Services Commission (FSC), the Securities Futures Commission (SFC) decided to allow the securities unit of KB Financial Group to issue the promissory note. The SFC is the auditing unit under the FSC.?The decision is subject to final approval during the regulator's regular meeting on May 15.Under related rules, a securities firm with 4 trillion won ($3.39 billion) worth of equity capital is categorized as a mega investment bank, the only entity allowed to issue a promissory note with a maximum limit of 200 percent of its equity capital.KB Securities is the nation's fourth-largest brokerage with current capital of 4 trillion won.

May 9, 2019By Jhoo Dong-chan
KB Securities gets approval to issue promissory note

AIA, SK seek cooperation to enhance social values

AIA Group CEO Ng Keng Hooi, right, and SK Group Chairman Chey Tae-won shake hands before a meeting held at SK's headquarters in central Seoul, Thursday. The leaders discussed ideas for the two companies to cooperate in corporate social responsibility, based on their existing project aimed at improving public health. / Courtesy of AIA KoreaBy Kim Bo-eunAIA Group CEO Ng Keng Hooi met SK Group Chairman Chey Tae-won in Seoul, Thursday, to seek cooperation in the area of corporate social responsibility (CSR), AIA Korea said Thursday.The Korean unit of the global insurance firm said that the leaders discussed ideas and opportunities for bilateral projects in the future.The meeting was held as the two companies are conducting a joint project, and their leaders share a corporate philosophy based on social values.AIA Korea, SK Telecom and SK Holdings are in a partnership in operating AIA Vitality X T Health Walking, an application which seeks to improve public health through encouraging people to walk more. The number of subscribers to the application exceeded 1 million as of April.Ng investe

May 9, 2019By Kim Bo-eun
AIA, SK seek cooperation to enhance social values
previous page
490491492493494
next page

Most Read in Business