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Industrial Bank of Korea (IBK) Chief Executive Yun Yong-ro ...

Hyundai Motor’s third-generation hydrogen fuel cell ...

Twin balances to power economy

Bank of Korea (BOK) Governor Kim Choong-soo, second from right, talks with the heads of domestic banks at a monthly meeting at the central bank’s headquarters in Seoul, Friday. From left are Richard Hill, CEO of Standard Chartered Korea; Ha Yung-ku, CEO of Citibank Korea; Yun Yong-ro, CEO of the Industrial Bank of Korea; Governor Kim; and Min Euoo-sung, CEO of Korea Development Bank. / Courtesy of BOKBy Kim Jae-kyoung South Korea will enjoy a balanced growth next year, powered by twin engines — exports and domestic demand, according to the nation’s top central banker, Friday. At a monthly meeting with heads of domestic banks, Bank of Korea (BOK) Governor Kim Choong-soo said that both exports and local consumption may equally contribute to economic growth during the upcoming 12 months. “From a macro perspective, exports will grow in line with domestic demand in 2011,” Kim said, citing the bank’s 2011 growth forecast of 4.5 percent. Kim’s remarks have garnered market attention as many economists believe that the nation’s exports will l

Shinhan overcomes late start to cater to expat customers

By Cathy Rose A. Garcia Shinhan Bank may be a little late to the expat banking game, but it is trying to make up for lost time with its Global Center catering solely to foreign residents in Korea. The Shinhan Bank Global Center, located on the first floor of the Seoul Finance Center building in Gwanghwamun, opened last March with multilingual staff, financial consulting services and exclusive products for foreigners. However, many foreign residents in Seoul are not aware of the global center, even those who are existing Shinhan Bank clients. Hwang Bok-sun, Shinhan Bank Global Center general manager, admitted the biggest challenge is making the foreign community aware of its existence. ``Even though there are more than a million foreigners in Korea, it is a big challenge for us to advertise our center to foreigners. I’ve been contacting the chambers of commerce, and focused on downtown Seoul where there are many foreign-invested companies. We want to make foreigners satisfied with our services here. We want to show we have the highest level of service in Korea,’’ he

Shinhan Card launches a discount service for its gift cards, Friday

Korea Deposit Insurance Corp. (KDIC) President Lee Seung-woo ...

Hyundai-Kia Automotive Group Chairman Chung Mong-koo, ...

Woori Bank CEO Lee Chong-hwi, right, poses with Lee ...

Employees of Abbott Korea make kimchi, Koreas traditional ...

POSCO Chairman Chung Joon-yang, third from left, ...