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Finance

Banks

Thu, October 28, 2021 | 20:56

BNK, JB, DGB increase reliance on Naver, Kakao

Concerns are rising over the growing reliance of BNK, JB and DGB financial groups on Naver Financial, Kakao Pay and Toss, which could eventually lead the regional banks to become overly dependent on the online platforms.

2021-10-14 16:10

[ANALYSIS] Hana faces widening foreign exchange losses

The sharp weakening of the won against the dollar is dealing an unexpected blow to Hana Financial Group. The Korean lender's foreign exchange losses are expected to widen during the third quarter as a result of the strengthening dollar.

2021-10-13 16:46

Shinhan forms blockchain partnership with Samsung, SK

Shinhan Bank's digital group chief Jun Pil-hwan, left, poses with executives from SK Telecom and Samsung SDS after signing a partnership to jointly develop a blockchain-powered certificate service offering strengthened user security, at the telecom company's headquarters in Seoul, Tuesday. Courtesy of Shinhan Bank

2021-10-13 11:34

Woori, KB support Afghan evacuees in Korea

Domestic commercial banks have begun to provide the 390 Afghan evacuees in Korea with a wide range of supports, so that they can adapt to the unfamiliar environment by having better access to banking, educational, mobile communication and medical services.

2021-10-13 08:56

Convenience store meets bank

Hana Bank will open its first branch inside a local convenience store, located in Songpa District, southern Seoul, Monday. This is the first time that a commercial bank has opened a branch inside a convenience store here. Customers can complete about 50 banking tasks via the bank's smart self-zone, a digital self-banking window, 24 hours a day inside the convenience store, wh...

Anna J. Park | 2021-10-12 16:21

Societe Generale wins lawsuit against NTS

The Supreme Court ruled on Monday in favor of French lender Societe General, which had filed a lawsuit against the National Tax Service (NTS) in 2016 claiming it was slapped with excessive taxes.

Anna J. Park | 2021-10-11 16:16

Woori Bank holds annual art contest

Woori Bank CEO Kwon Kwang-seok speaks in a video clip introducing the bank's annual art contest. Woori said Monday that it held the final round of the competition online a day earlier. The winner will receive a prize from the minister of culture, sports and tourism on Nov. 6. Courtesy of Woori Bank

2021-10-11 11:16

Consumers feared to fall prey to banking oligopoly amid lending quota rule

Korean consumers will fall prey to financial regulators' so-called “6-percent lending quota rule,” as banks are widely expected collectively to take action to hike their loan rates further in line with rising benchmark rates.

2021-10-08 15:20

Eximbank supports SK's battery business in Poland

Export-Import Bank of Korea (Eximbank) CEO Bang Moon-kyu, second from left, cuts a ribbon with Poland's Deputy Minister of Economic Development, Labor and Technology Grzegorz Piechowiak, center, SKIET CEO Rho Jae-sok, fourth from right, and other participants, during a ceremony to celebrate the completion of SKIET's battery separator plant construction in Katowice, Poland, We...

2021-10-07 12:10

NongHyup Bank seeks to branch out to Australia, China in 2022

NongHyup Bank plans to open six more overseas branches in 2022, in line with parent NongHyup Financial Group's strategic plan to bolster global businesses in the coming years.

Anna J. Park | 2021-10-06 15:30

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