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The Korea Times

Entertainment & Arts

SCMP
Asia

The Korea Times

Finance

Companies

Tue, March 21, 2023 | 19:29

Banks criticized for windfall profits as Koreans endure tough economic conditions

Banks criticized for windfall profits as Koreans endure tough economic conditions

Jin Soo-jin, a self-employed person in her 30s, says she felt extremely disadvantaged last week when she learned of the profits that the major banking groups announced for their 2022 earnings, driven by soaring interest incomes that rose to an all-time high as opposed to her business, which continues to struggle with its loan repayments.

Yi Whan-woo | 2023-02-12 16:38

Mirae Asset Global Investments shines in US ETF market

Mirae Asset Global Investments shines in US ETF market

It has been five years since Mirae Asset Global Investments acquired Global X, its subsidiary managing ETFs in the U.S. Global X, which is a rising star in the U.S. market, has grown into a leader in the thematic growth ETF market, operating assets around six times bigger compared to when it was acquired by Mirae Asset.

2023-02-12 09:00

Kyobo's bid to establish financial holding firm faces uncertainty due to Affinity

Kyobo's bid to establish financial holding firm faces uncertainty due to Affinity

Kyobo Life Insurance's highly-publicized aim of establishing a financial holding company continues to face uncertainties, as a prolonged legal battle against the insurer's second-largest shareholder - Affinity Equity Partners - shows no signs of abating anytime soon.

Lee Min-hyung | 2023-02-11 08:28

KOMSCO presentation at International Mint Directors Network

KOMSCO presentation at International Mint Directors Network

KOMSCO CEO Bahn Jahng-shick, center, presides over the International Mint Directors Network (IMDN) meeting held in Berlin, Germany, Feb. 4. Held in person for the first time in three years due to COVID-19, the meeting was attended by 41 minting organizations from 38 countries. The KOMSCO CEO shared its business successes with other member countries, including medals commemora...

Yoon Ja-young2023-02-10 16:42

BNK Financial's incoming chief expected to bring in stabilization

BNK Financial's incoming chief expected to bring in stabilization

After BNK Financial Group nominated Bin Dae-in last month as its next chairman to lead the group for the next three years, market watchers have been fixated on whether the new incoming leader will be able to complete his term honorably, while also succeeding at stabilizing the financial group's structure.

Anna J. Park | 2023-02-09 15:29

Banking federation chief meets Luxembourg finance minister

Banking federation chief meets Luxembourg finance minister

Korea Federation of Banks Chairman Kim Kwang-soo met Luxembourg Finance Minister Yuriko Backes and discussed ways of cooperation in the banking sectors of the two countries, the federation announced on Wednesday. The areas of topics discussed ranged from conventional offline banking to digital banking, wealth management, and environmental, social and corporate governance (ESG...

Yi Whan-woo | 2023-02-08 17:02

Shinhan Bank nominates second-in-command to fill leadership vacuum

Shinhan Bank nominates second-in-command to fill leadership vacuum

Shinhan Bank said Wednesday that Deputy President Jung Sang-hyuk has been nominated as its new president and CEO, replacing Han Yong-gu, who abruptly resigned on Monday a little more than a month after taking office. “The nomination of Jung is aimed at minimizing the leadership vacuum at the bank, given importance of the flagship affiliate in Shinhan Financial Group and the o...

Yi Whan-woo | 2023-02-08 17:01

Record earnings boost Shinhan back to No. 1 rank after 3 years

Record earnings boost Shinhan back to No. 1 rank after 3 years

Shinhan Financial Group posted record earnings for 2022 to outperform its rival KB Financial and claim the industry's top position by market capitalization for the first time in three years. In a regulatory filing, Wednesday, Shinhan Financial Group said its net profit last year came to an all-time high of 4.64 trillion won, up from its previous record of 4.19 trillion won se...

Yi Whan-woo | 2023-02-08 16:59

Hana Financial Group donates $300,000 to quake-devastated Turkey, Syria

Hana Financial Group donates $300,000 to quake-devastated Turkey, Syria

Hana Financial Group has donated $300,000 as urgent aid for the recovery and support of those affected by the earthquake in Turkey and Syria. The group announced Wednesday that it delivered the relief money earlier this week through the Community Chest of Korea as well as other global relief agencies.

Anna J. Park | 2023-02-08 16:53

Woori Financial 2022 net hits new high on more interest income

Woori Financial 2022 net hits new high on more interest income

Major Korean financial holding firm Woori Financial Group said Wednesday its earnings spiked nearly 23 percent on-year to an all-time high in 2022 thanks largely to higher interest income.

2023-02-08 16:46

Record earnings boost Shinhan back to No. 1 rank after 3 years

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