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Finance

Banks

Sun, July 5, 2020 | 03:36

FSS urges banks to keep supporting small businesses

FSS urges banks to keep supporting small businesses

Financial Supervisory Service (FSS) Governor Yoon Suk-heun, right, speaks during a morning meeting with CEOs of eight major banks at the Korea Federation of Banks in central Seoul, Thursday. The FSS governor asked the bank chiefs to continue to provide various types of financial support to small business owners amid the COVID-19 economic downturn. / Courtesy of FSS

Anna J. Park | 2020-07-02 16:53

Hong Kong capital exodus forces Korean banks to initiate 'Plan B'

Hong Kong capital exodus forces Korean banks to initiate 'Plan B'

Korea's commercial and state-run lenders are keeping a close eye on a possible mass capital outflow from Hong Kong, as political and trade disputes between the United States and China appear to be worsening.

Lee Min-hyung | 2020-07-02 16:30

US Congress targets banks, ramping up fight for Hong Kong rights

Eximbank finances COVID-19 programs in Ethiopia

Eximbank finances COVID-19 programs in Ethiopia

The Export-Import Bank of Korea (Eximbank) said Thursday it is providing $70 million through the Economic Development Cooperation Fund (EDCF) to Ethiopia for COVID-19-related programs.

2020-07-02 13:35

Woori, Hana hit for lax management of overseas offices

Woori, Hana hit for lax management of overseas offices

Woori Bank and Hana Bank are urged to tighten management of their overseas branches, as they received multiple sanctions over lax control on financial information particularly in Southeast Asia. According to data from the Financial Supervisory Service (FSS), the two lenders were given five sanctions each in 2019, from their overseas offices in countries such as the Philippine...

Lee Min-hyung | 2020-07-01 16:57

Global PEFs strengthening ties with Korean banks

Global PEFs strengthening ties with Korean banks

World-class private equity firms (PEFs) have begun forming stronger partnerships with banking groups here, showing an optimistic outlook for the domestic financial market's growth potential and stability, according to industry officials, Tuesday.

Park Jae-hyuk | 2020-06-30 16:08

SK, Samsung vie for $238 mil. IT service deal to KDB

SK, Samsung vie for $238 mil. IT service deal to KDB

SK C&C and Samsung SDS took submitted tenders Monday for a contract to provide IT services to the Korea Development Bank (KDB) which is pursuing speedy digitization amid the rising popularity of contactless transactions, according to company officials and industry sources.

Park Jae-hyuk | 2020-06-29 15:53

Banks, telecom firms enhance ties in advent of 'data economy'

Banks, telecom firms enhance ties in advent of 'data economy'

Commercial banks here are enhancing their partnerships with telecom companies as the era of “data economy” comes closer and competition from emerging financial players gets tougher. With the so-called “three data bills” taking legal effect as of Aug. 5, companies from different industrial sectors are moving to join hands for potential synergies to develop more customer-orient...

Lee Min-hyung | 2020-06-28 17:00

Recognized for personal data protection

Recognized for personal data protection

Woori Bank CEO Kwon Kwang-seok and Norwegian Ambassador to Korea Frode Solberg hold an ISO 27701 certificate at the bank's main branch in Seoul, Monday. Woori said Wednesday it became the nation's first financial firm to win the certificate which a Norway-headquartered international accredited registrar DNV GL gives to companies that fulfill the requirements for information p...

Park Jae-hyuk | 2020-06-24 16:11

Eximbank-Hana Bank join hands for global expansion of Korean firms

Eximbank-Hana Bank join hands for global expansion of Korean firms

The Export-Import Bank of Korea (Eximbank) is teaming up with Hana Bank to financially support Korean companies' global expansion, they said Wednesday. The partnership is part of their efforts to help local firms make smooth inroads into countries in East Asia. Details of the memorandum of understanding include loan offers to firms planning to expand into emerging Asian count...

Lee Min-hyung | 2020-06-24 15:41

Shinhan chairman heads digital committee

Shinhan chairman heads digital committee

Shinhan Financial Group said Monday it will set up a new digital committee that will discuss business opportunities as part of the government's "digital new deal" policy.

Kim Bo-eun | 2020-06-22 16:06

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