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Wed, June 20, 2018 | 08:37

Economy > Finance >

Lenders strengthening mobile platforms in Vietnam

The nation's major banks are strengthening their mobile platforms to take the upper hand in Vietnam's financial market. According to Shinhan Bank, it recently concluded a digital business partnership with Vietnam's largest messenger app Zalo and started introducing various financial products to Vietnam this month. About 80 percent of the Vietnamese people reportedly use Zalo via their smartphones.

Finance | 2018-06-19 16:26

FTC head draws fire from shareholders of chaebol units

Minority shareholders of Samsung SDS are taking action against Fair Trade Commission (FTC) Chairman Kim Sang-jo as his comment pulled down prices of company shares.

Finance | 2018-06-19 16:19

Self-employed alarmed by rising interest rates

As interest rates on loans are surging following a U.S. key rate hike, the self-employed, already suffering from a sluggish economy and soaring costs following the steep minimum wage hike, are facing snowballing burdens of paying back loans. Analysts warn that it could hamper economic recovery as well as cause trouble in the financial market if they have problems paying back ...

Finance | 2018-06-18 17:14

Banks eager to attract foreign customers

The nation's major banks are rushing to attract more foreign customers as the number of residents of Korea from overseas has surpassed 2 million. Banks have introduced various special financial services exclusively for foreign customers, including free wire transfers and even housing loans.

Finance | 2018-06-18 15:47

NH NongHyup, IBK to comply with US money laundering rules

Leading private lenders in Korea are beefing up measures at their headquarters in Seoul and at their New York branches to comply with U.S. money laundering rules in a pact reached with state and U.S. banking regulators.

Finance | 2018-06-15 15:33

Woori Bank set to buy Kyobo Securities

Woori Bank, the country's top-tier private lender, is in discussions with Kyobo Life Insurance to take over controlling stakes in Kyobo Securities, a deal of which the value was estimated at around $300 million (320 billion won), sources at two local private equity funds (PEFs) said, Wednesday.

Finance | 2018-06-13 17:47

Long-term perspective essential for inter-Korean shares

Inter-Korean stocks that had soared on the expectation they will benefit from economic development projects in North Korea are plummeting despite the historic summit between North Korea and the United States. Analysts say investors should make decisions based on a long-term perspective.

Finance | 2018-06-13 17:46

Fintech emerging as investment tool

An increasing number of retail investors are using fintech app platforms as an investment tool. To capitalize on this growing trend, fintech companies, which used to offer simple wire transfers or account checking services, have expanded their operations into investment and asset management by utilizing their convenient and fast financial service platforms.

Finance | 2018-06-12 16:54

Coinrail hacked, cryptocurrency worth W40 bil. lost

The nation's seventh-largest cryptocurrency exchange Coinrail was allegedly hacked over the weekend, and an estimated 40 billion won ($37.2 million) worth of coins were stolen.

Finance | 2018-06-11 17:20

Banks rolling out 'chatbots' to improve customer experience

The nation's major banks are rushing to roll out“chatbot” services, computer programs utilizing artificial intelligence (AI) that conducts a conversation via text. Offering an automated teller and loan service 24 hours a day, the AI-based chatbot service is expected to gradually replace manpower at banks.

Finance | 2018-06-11 17:18

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