Business - The Korea Times

Citibank Korea, Korea Eximbank back KoMiCo's US chip expansion with $100 mil. financing

Citibank Korea said Tuesday that it will jointly provide a $100 million syndicated financing package with the state-run Export-Import Bank of Korea to support semiconductor equipment parts maker KoMiCo’s expansion in the United States. KoMiCo is known for its precision cleaning and advanced coating technologies for semiconductor equipment components, supplying essential parts and services for increasingly sophisticated chip production. The company counts major global chipmakers among its key clients. The funding will support facility expansion and operations at KoMiCo’s U.S. subsidiaries in Austin, Phoenix and Hillsboro, Oregon — key semiconductor clusters located near manufacturing sites operated by leading chip companies. According to Citibank, the investment is expected to strengthen KoMiCo’s foothold in the U.S. while also helping bolster the position of Korean suppliers within the global semiconductor value chain. Beyond the latest financing support, the lender has also assisted KoMiCo’s overseas expansion growth in markets including Taiwan, Singapore and the Czech Republi

May 19, 2026By Park Han-sol

Citibank Korea, Korea Eximbank back KoMiCo's US chip expansion with $100 mil. financing

From fuel discounts to fitness coverage, card issuers and insurers roll out everyday perks amid rising living costs

As inflation reshapes consumer priorities, Korea’s card and insurance sectors are rolling out more products tailored to everyday spending habits, industry officials said Monday. Rather than offering broad, one-size-fits-all benefits, these firms are sharpening their focus on customized products that reflect real-world consumption patterns — from fuel and transportation to fitness — as households grow more selective about where they spend. For card issuers, that has meant expanding discounts and rewards across essential spending categories such as gas and commuting. Amid prolonged concerns over global oil supply disruptions tied to the U.S.-Israeli war on Iran, Lotte Card introduced a fuel-focused card aimed squarely at drivers grappling with high energy costs. Customers who spend between 500,000 won ($333) and 1 million won on gas in a month receive a cashback up to 30,000 won, while those exceeding 1 million won receive one capped at 50,000 won. Hana Card has similarly strengthened its gas savings offerings through its MULTI Oil card, which provides a 10 percent discount up to 30,

May 19, 2026By Park Han-sol

From fuel discounts to fitness coverage, card issuers and insurers roll out everyday perks amid rising living costs

Woori Financial Group expands inclusive lending push for young adults, lower-credit borrowers

Woori Financial Group is ramping up efforts to expand support for young adults and lower-credit borrowers, positioning inclusive finance as a broader social safety net, the group said Monday. At its monthly council meeting at its headquarters in Seoul, Friday, Woori laid out plans to strengthen financial support for younger generations working to build economic independence, while broadening protections for low- and mid-credit consumers who remain underserved by traditional finance. Woori Bank has been at the forefront of that push. In the first quarter alone, the bank supplied 218.6 billion won ($160 million) in customized credit loans for lower-income and lower-credit borrowers, the highest level among major commercial banks. Since introducing a 7 percent annual interest rate cap on unsecured personal credit loans in January, Woori has reduced borrowing costs by roughly 1 billion won for 40,000 customers. In March, the bank also suspended debt collection for certain long-term small-scale distressed borrowers while granting 32.2 billion won in interest relief. To address more immediate fi

May 18, 2026By Park Han-sol

Woori Financial Group expands inclusive lending push for young adults, lower-credit borrowers

Hana Financial Group launches annual internship program linking social enterprises, job seekers

Hana Financial Group said Monday that it launched its annual internship program aimed at helping social enterprises hire job seekers who face barriers to employment. The launch ceremony was held at the group's headquarters in central Seoul, Friday, and was attended by about 100 people, including Hana Financial Group Chairman Ham Young-joo, Vice Labor Minister Kwon Chang-jun, Korea Social Enterprise Promotion Agency President Jung Sung-gug, representatives of participating companies and interns. The event featured an introduction to this year's internship program and exhibition booths showcasing participating social enterprises and their products. "The internship program is meaningful in that it gives job seekers an opportunity to prove their potential while helping innovative companies grow with talented workers. We will continue supporting sustainable growth and development by connecting people with opportunities," Ham said. The annual internship program, introduced in 2022, aims to support employment at social innovation companies by matching participating firms with job seekers who of

May 18, 2026By Lee Hyo-jin

Hana Financial Group launches annual internship program linking social enterprises, job seekers

Banks raise deposit rates as stock rally accelerates cash exodus

A woman surnamed Park in her 60s living in Seoul's Yangcheon District closed two time deposit accounts worth a combined 50 million won ($33,000) last month and invested the money in shares of Samsung Electronics and SK hynix, Korea's two chipmaking giants. "I've never really been into stocks and usually stick to safer savings products," she said. "But lately, everyone around me has been talking about making money in the stock market, so I decided to close the deposit accounts I had opened just a few months earlier at KakaoBank and NH NongHyup Bank." She added, "Stock prices have been a little volatile recently, but I still think the returns will be much higher than deposit interest rates, so I don't regret the decision." An office worker in her 30s surnamed Choi also recently canceled an installment savings account at KakaoBank to invest in stocks. "I had been automatically putting 500,000 won into the account every month, but with rates in the low-3 percent range, there's little to gain after taxes," Choi said. "I thought I'd rather put the money into stocks instead." Park and Choi are a

May 18, 2026By Lee Hyo-jin

Banks raise deposit rates as stock rally accelerates cash exodus

Tightened liquidity regulations in store for all securities firms

The country's financial regulator said Monday that it will seek to revise liquidity level-related regulations to prod securities firms to enhance their risk management capability. Under the proposed revision, all securities firms should keep their one-month and three-month liquidity ratio at above 100 percent each. The revision is expected to take effect starting next year after law and enforcement revisions, according to the Financial Services Commission (FSC). Currently, only 23 securities firms, including 10 brokerage houses designated as those who are allowed to run a wide range of business, such as corporate lending, are subject to such rules. The liquidity ratio is measured by dividing liquid assets by liquid debts. The FSC said their liquidity ratio measurement will price in discounts of volatility risks on liquidity assets, and contingent liabilities and debt guarantees will be added to their debt liquidity level, which it said would more clearly show their financial soundness, and better respond to various risks.

May 18, 2026By Yonhap

Tightened liquidity regulations in store for all securities firms

BC Card strengthens customer protection through new security patents

BC Card is stepping up its consumer protection strategy through a series of new fintech patents aimed at strengthening the security of digital payments and asset verification, the company said Sunday. Its latest filing is a security technology designed to enable safer stablecoin transactions over public networks, as cross-border dealings with overseas digital wallet providers become more common. Until now, card payments and balance checks have largely relied on dedicated private networks with domestic wallet operators, which reduced the need for additional verification. But with global digital asset payments poised to expand in the near future, BC Card said stronger authentication systems will be essential. The newly filed patent centers on a one-time verification mechanism that authenticates external digital wallets whenever transaction requests are sent to a server. By validating both the source and legitimacy of each request, the system is designed to prevent tampering and reduce fraud risks. Separately, BC Card has also secured official state approval for its blockchain-based non-fun

May 17, 2026By Park Han-sol

BC Card strengthens customer protection through new security patents

Hana Financial steps up digital asset push with Dunamu stake acquisition

Hana Financial Group has expanded its strategic partnership with Dunamu after acquiring a 6.55 percent stake in the digital asset company for about 1 trillion won ($667 million) through its core affiliate Hana Bank, the group said Friday. The deal makes Hana Bank the fourth-largest shareholder of Dunamu, which operates Korea’s largest cryptocurrency exchange, Upbit. The bank’s board earlier in the day approved the purchase of Dunamu’s 2.284 million shares from Kakao Investment. This marks the largest-ever investment by a Korean commercial bank in a single digital asset company. The investment comes as the global financial industry accelerates its transition toward blockchain and stablecoin infrastructure. Hana Financial described the partnership as an effort to merge traditional financial services with digital innovation capabilities in order to strengthen competitiveness in the rapidly evolving digital finance market. Dunamu has established itself as the dominant player in the country’s digital asset sector, supported by its large user base and trading activity, as well as its

May 15, 2026By Jun Ji-hye

Hana Financial steps up digital asset push with Dunamu stake acquisition

InterviewFitch analyst warns SME borrower risks biggest threat to Korean banks

Small- and medium-sized enterprises (SMEs) and self-employed borrowers, whose repayment capacity may weaken under prolonged economic pressure stemming from the Iran war, remain the biggest weak spot for Korean banks, according to Fitch Ratings analyst Matt Choi. In an interview with The Korea Times in Seoul, Thursday, Choi said Korean banks are expected to maintain relatively stable earnings this year, but warned that risks tied to vulnerable borrowers should be closely monitored. "We expect Fitch-rated banks, particularly the large commercial banks, to maintain resilient credit profiles and deliver broadly stable near-term performance, given their ability supported by steady net interest margin and also the moderate loan growth for the sector overall," Choi said, adding that he expects Korea's policy rate to remain broadly stable, helping banks preserve interest margins. Choi is a director of financial institutions at Fitch Ratings. Based in Hong Kong, he covers bank credit ratings in Korea and Hong Kong. In a recent report, Fitch maintained an A+ operating environment score for Korea's

May 15, 2026By Lee Hyo-jin

Fitch analyst warns SME borrower risks biggest threat to Korean banks

More teachers turn to insurance for protection amid surge in assaults, parent complaints

As student violence against teachers and relentless parent complaints continue to make national headlines in Korea, a growing number of educators left with little practical recourse are turning to a last line of defense: insurance. According to Hana Insurance, the country’s sole provider of teacher rights protection coverage, 9,312 educators have enrolled in policies designed to guard against risks ranging from sexual harassment and physical assault to abusive complaints from students and parents. The number marks more than a sixfold increase from 2018. Although these policyholders account for just 1.8 percent of Korea’s 506,000 teachers from kindergarten to high school, the sharp rise signals that what was once a niche safeguard is steadily gaining broader relevance. Claims are rising in tandem. Paid insurance cases jumped from just eight in 2018 to 168 in 2025, with 53 claims already approved this year as of this month. The vast majority of claims — 81 percent — involved defamation, verbal abuse or refusal to comply with teachers’ disciplinary guidance. Sexual harassment and

May 15, 2026By Park Han-sol

Banking & Finance