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Wed, August 15, 2018 | 01:22

Economy >

Credit card blues

Credit card companies are reeling from constant state pressure to lower the fees they charge stores for customer transactions, industry sources said Monday. It has been hurting their bottom lines to the point where they are barely able to keep their margins up. “The industry has lowered fees six times since 2012 as the government has forced them to do so through legislation. ...

Finance | 2018-08-14 11:30

Samsung Life in proxy war against FSS

Samsung Life has waged a legal battle against the nation's financial regulator by filing a lawsuit against one of its policyholders that claimed the insurer overcharged them and didn't pay a fair annuity.

Finance | 2018-08-14 17:59

MBK anxiously wants to sell ING to Shinhan: sources

MBK Partners, a local private equity giant, seemingly wants to sell ING Life Insurance before the end of the year after holding onto the insurance company for five years, multiple sources said Tuesday. Shinhan Financial Group has been in talks with the firm to acquire ING since April when it filed a public disclosure that it is considering the acquisition. However, a Shinhan ...

Finance | 2018-08-14 15:49

Turkey woes jolt financial markets

The financial market took a heavy beating Monday as fears about Turkey's currency crisis are growing and sending shudders throughout Asia.

Finance | 2018-08-14 17:58

Financial firms rush to Southeast Asia

Korean financial firms are expanding their presence in Southeast Asia. Major banks are tapping into the world's most rapidly growing economies, which are considered to be their next overseas cash cows, in a bid to overcome difficulties in finding new revenue sources in the saturated domestic financial market.

Finance | 2018-08-14 17:58

Helping farmers

NongHyup (NH) Savings Bank employees raise their fists for a photo after helping farmers under the summer heat in Yeoncheon, Gyeonggi Province, Tuesday. The NH volunteer team was dispatched to the region to help harvest peppers and fix farmers' equipment there. Courtesy of NH Savings Bank

Photo News | 2018-08-14 16:08

Shinhan, Samsung forge digital ties

Shinhan Bank said Monday it has forged strategic ties with Samsung Electronics to build an online payment ecosystem in Vietnam. This marks the bank's first time to join hands to foray into the field in the region, the bank said. Its Vietnamese bank and Samsung will provide Samsung Pay prepaid card service, enabling users of the bank's online networks and Samsung Galaxy Note 9...

Finance | 2018-08-13 14:48

Small activist takes on giant fund manager

Platform Partners Asset Management will continue to fight Macquarie Korea Asset Management over what Platform claims is Macquarie's “irregular and unreasonable management fee and incentive structure.”Macquarie said last week in a press statement it will lower its fees by 8 percent from what it received in 2017, in accordance with the Macquarie Korea Infrastructure Fund's (MKI...

Finance | 2018-08-13 12:25

Finance minister needs more authority

Economy and Finance Minister Kim Dong-yeon is known as a man who acts according to his convictions. He doesn't try to curry favor by deserting policies he thinks are right.

Policies | 2018-08-12 17:34

'Retained earnings are not all cash'

Politicians and businesspeople are locking horns yet again over an issue concerning retained earnings. Retained earnings under shareholders' equity on balance sheets are the surplus from a company's net income after paying dividends to investors. Lawmakers of the ruling Democratic Party of Korea (DPK) recently claimed that companies are hoarding too much of their retained ear...

Finance | 2018-08-12 10:08

California wildfires