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Finance

Banks

Tue, September 22, 2020 | 23:22

Korea's plan to foster 'Goldman Sachs' back in limbo

Korea's plan to foster 'Goldman Sachs' back in limbo

The government's much-hyped plan to turn local securities companies into the Korean version of super-large investment banking players has hit a snag amid virus-induced market uncertainties and toughened regulations. In 2016, the financial authorities here introduced the drive under which brokerage firms whose total equity topped 4 trillion won ($3.32 billion) were eligible fo...

Lee Min-hyung | 2020-06-15 08:02

Korean banks struggling to secure digital talent

Korean banks struggling to secure digital talent

Shinhan, KB, Hana and Woori financial groups are facing difficulties in attracting young engineers equipped with digital skills, due to their rigid corporate culture and tough financial regulations.

Park Jae-hyuk | 2020-06-10 16:45

State banks' financial soundness worsening amid pandemic

State banks' financial soundness worsening amid pandemic

State-run banks' financial soundness has been deteriorating, as their capital adequacy ratios are on a steady decline as a result of expanding financial aid for local firms hit by the COVID-19 pandemic. According to the Financial Supervisory Service (FSS), the Bank for International Settlement (BIS) capital adequacy ratio for Korea Development Bank (KDB) stood at 13.33 percen...

Anna J. Park | 2020-06-10 16:37

K bank normalizes operation with new product

K bank normalizes operation with new product

K bank will launch a new checking account service early next month, normalizing the internet-based bank's business operation, the lender said Tuesday. This is the first time in a year that the internet-only bank has come up with a new product for customers. The bank said it will stop registering customers for its existing “Dual K Checking Account” in early July and introduce ...

Anna J. Park | 2020-06-09 17:07

Kakao encroaches on realm of traditional financial groups

Kakao encroaches on realm of traditional financial groups

Will IT-based internet platform companies, like Kakao or Naver, ultimately encroach on the realm of traditional financial groups? Given the movements of the stock market alone, it seems it is already happening.

Anna J. Park | 2020-06-09 15:08

Donation for rare disease patients

Donation for rare disease patients

Industrial Bank of Korea (IBK) CEO Yoon Jong-won, front row left, poses with small firms' employees and their family members during a donation ceremony held at the bank's headquarters in central Seoul, Monday. The bank donated 500 million won ($415,000) for family members of small companies' employees who are suffering from rare diseases. / Courtesy of IBK

Anna J. Park | 2020-06-08 17:08

Shinhan to support Korea's New Deal projects

Shinhan to support Korea's New Deal projects

Shinhan Financial Group said Monday it will launch a project named N.E.O. - standing for the “new economic growth supporting operations” - to help the government's recent efforts to develop the country's new growth engine with a Korean version of the New Deal.

Park Jae-hyuk | 2020-06-08 16:45

Hana in dilemma over dividend payment

Hana in dilemma over dividend payment

Hana Financial Group is in a dilemma over whether to pay dividends to its shareholders at the end of the first half, after the financial authorities urged it to cut such payments during the COVID-19 pandemic to strengthen reserves, according to industry officials, Sunday.

Park Jae-hyuk | 2020-06-08 16:14

KB union protests budget phone business

KB union protests budget phone business

KB Kookmin Bank is facing backlash from its union for its recent attempt to enable customers to sign up for the Liiv M budget phone service at its bank counters, according to industry sources, Sunday.

Park Jae-hyuk | 2020-06-07 16:04

Hana Financial launches digital training program

Hana Financial launches digital training program

Hana Financial Group said Sunday it has launched an intensive digital training program intended on upgrading digital capabilities of the group to offer better services.

Kim Bo-eun | 2020-06-07 15:55

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