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Wed, March 29, 2023 | 13:16
Preparing for summer
Woori Financial Group Chairman Sohn Tae-seung, second from left, assembles a fan with his employees during a charity event at the group's headquarters in Seoul, June 24. The fans will be delivered to the elderly living alone. Courtesy of Woori Financial Group
Gov't under fire for pressuring bank hiring
The Financial Services Commission (FSC) is facing a backlash amid plans to launch an index in August measuring the jobs created by local banks. Industry sources say the regulator is “intervening too much” into matters that are not part of its key oversight task. They criticized the index, questioning how forcing local banks to hire more people has anything to do with maintain...
KIC CEO in between rock, hard place
Korea Investment Corp. (KIC) CEO Choi Hee-nam may have a lot of things to worry about mainly concerning the future course of the country's sovereign wealth fund manager. Economic headwinds are blowing hard not only toward Korea but also global markets. When economies slow down, investors - in KIC's case, the Ministry of Economy and Finance and the Bank of Korea (BOK) - tend t...
NH Investment becomes IPO king in H1
NH Investment & Securities has become the top underwriter of stocks listed on the KOSPI and KOSDAQ in the first half of 2019, according to the Korea Exchange (KRX), Sunday. Given that there were no additional stock flotation plans in June, the market for initial public offerings (IPO) will exceed 1 trillion won ($9 billion) by the end of June. NH Investment managed five of th...
Financial groups pouring billions into startups
Local financial groups are moving aggressively towards increasing their bets on fintech startups, industry sources said Wednesday. Besides offering a wide range of services through their innovation centers, the groups have internally reorganized and set up new divisions focusing on spurring the entrepreneurial spirit. Shinhan Financial Group, the biggest holding company by pr...
Regional banks eye Southeast Asia
Regional financial groups are looking to expand further in Southeast Asia as the local market is getting smaller and more crowded, industry sources say. They are facing a number of challenges as Seoul-based financial groups' flagship banks have increased their presences in their backyards. Also, an economic slowdown is making regional banks turn their sights toward new potent...
Platform economy stands at crossroads
The country's aim to create a so-called platform economy stands at a crossroads amid a conflict between old and new businesses, analysts and industry sources say. Also, the global trade war between the United States and China, which has been extended into a tech power game, is further making Korea look like a follower, not an innovator.
KEB Hana launches platform for pensioners
KEB Hana Bank has launched a platform for customers who have retired to invest their pensions in various funds for management, the lender said Monday. The bank said the platform marks the first of its kind in the market here.
All eyes on Fed meeting this week
This week, the U.S. Federal Open Market Committee (FOMC) will hold a monetary policy meeting that could either deal a blow to or restore confidence in the global economy. Analysts say investors will be watching the meeting led by Fed Chairman Jerome Powell from June 18 to 19.This is because the chairman recently signaled monetary easing to prevent a further economic slowdown ...
Korea's overseas direct investment hits record high
Korean overseas direct investment reached a record $14.1 billion in the first quarter of this year, up 45 percent from a year earlier, according to the Ministry of Economy and Finance, Friday. This also marks the second-highest increase following the first quarter of 2017 when the number rose to 63 percent, it added. The record was led by local manufacturers making deals and ...
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