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The Korea Times

Entertainment & Arts

SCMP
Asia

The Korea Times

Finance

Companies

Tue, March 21, 2023 | 19:41

Internet banks boost competitive edge with 'group accounts'

Internet banks boost competitive edge with 'group accounts'

To find a breakthrough in the market dominated by commercial banks, internet banks are trying to gain a competitive edge with a new type of account that can be owned communally by several members. Called a “group account,” it allows internet banks to not only secure a monthly cash inflow but also attract more customers, both young and old.

2023-03-06 08:25

Park Eun-bin named as KB Financial's new model

Park Eun-bin named as KB Financial's new model

Park Eun-bin, a Korean actress who starred in the popular ENA series “Extraordinary Attorney Woo” last year, has been named the new model for KB Financial Group, the company announced. The country's major banking group said it signed the agreement with Park, 30, as her spirit of professionalism and sincerity is clearly evident in her acting career, and is in line with the cor...

2023-03-06 08:24

Woori launches ESG consulting service for SMEs

Woori launches ESG consulting service for SMEs

Woori Bank launched a consulting service for small and medium-sized enterprises (SMEs) seeking to fulfill environmental, social and corporate governance (ESG) management, Sunday. Corporate clients of the lender can take advantage of the service by accessing Woori's internet banking site for free. The non-face-to-face service was developed as part of Woori's efforts to raise E...

2023-03-05 16:11

KDB begins process to sell HMM

KDB begins process to sell HMM

Korea Development Bank (KDB) has officially kicked off procedures to sell the management rights of HMM, a global shipping and logistics company. As KDB Chairman Kang Seog-hoon pledged to expedite the sale of the shipping firm, HMM's privatization process is expected to be carried out in a speedy manner.

Anna J. Park | 2023-03-03 16:54

IMM PE increases Hanssem stake through tender offer

IMM PE increases Hanssem stake through tender offer

IMM Private Equity (PE) launched a tender offer Thursday to purchase an additional 7.7 percent stake in Hanssem, or 1.81 million shares, aiming to increase its stake in the home furnishing company to 36 percent from the current 28.2 percent.

Anna J. Park | 2023-03-02 16:50

Interest Limitation Act upheld as constitutional

Interest Limitation Act upheld as constitutional

The Constitutional Court has ruled that the Interest Limitation Act that criminally punishes lenders charging higher interest rates than the legally allowed maximum rate of 20 percent a year is constitutional, officials said Thursday.

2023-03-02 10:09

Ex-Citibank Korea chief joins Samsung Fire as outside director

Ex-Citibank Korea chief joins Samsung Fire as outside director

Samsung Fire & Marine Insurance nominated Park Jin-hei, former chief of Citibank Korea, as the firm's new outside director, seeking to bolster environmental, social and corporate governance (ESG) management. According to the non-life insurer's executive recommendation committee, Park will be able to help the company formulate a long-term ESG management strategy using his expe...

2023-03-02 09:00

Korea Investment & Securities accused of bullying startup

Korea Investment & Securities accused of bullying startup

Korea Investment & Securities is embroiled in a controversy over what a Seoul-based fintech startup called an “unfair and deceiving” contract on establishing the former's web trading system. The controversy is centered on an equity investment worth 1 billion won ($755,000) that the brokerage house made on Indexmine in January 2021.

2023-02-28 16:44

Woori signs deal to acquire majority stake in Daol Investment

Woori signs deal to acquire majority stake in Daol Investment

Woori Financial Group announced on Monday that it acquired a majority stake in Daol Investment, a venture capital company it has sought to take over on its path to diversifying its non-banking business portfolio. The banking group said it signed a deal with Daol Financial Group to purchase a 52 percent stake in Daol Investment, which is owned by brokerage house Daol Investmen...

2023-02-27 16:38

Robots can reduce workplace injuries by 8%: report

Robots can reduce workplace injuries by 8%: report

Introducing robots in the workplace can reduce workplace injuries and improve workers' health significantly, according to a working paper released by the Bank of Korea (BOK) on Monday.

2023-02-27 16:04

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