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Mon, March 27, 2023 | 22:08
[CEO Watch] KB chief prepares for long digital journey
All local banks are seeking one thing - digital transformation. It will be a long, hard process to change everything - the way they interact with customers, use new technologies and develop human resources. And KB Kookmin Bank CEO Hur Yin knows this for sure, saying that transformation doesn't happen overnight because people can't change overnight.
Foreigners dump shares, currency over uncertainties
Foreign investors continued to be net-sellers of local shares and currency amid increasing uncertainties both at home and abroad. Foreign investors have unloaded KOSPI-listed shares for seven consecutive trading days, breaking a previous record of six straight days of sell-offs from February 8 to 15 this year, according to the Korea Exchange (KRX).
Shinhan, Hancom pursue Vietnam smart city projects
Shinhan Card and Hancom have forged strategic ties to pursue smart city projects in Southeast Asia, including Vietnam, the bank said Friday. The two will also collaborate on developing new digital businesses in the region using blockchain and artificial intelligence (AI) technologies.
Eximbank backs ship parts makers
Export-Import Bank of Korea (Eximbank) CEO Eun Sung-soo, second from left, visits HSD Engine's ship equipment plant in Changwon, South Gyeongsang Province, Thursday. Eun said the policy bank will support the exports of small and medium makers of ship parts. Courtesy of Eximbank
KDB chief needs to pursue new mission
There is a memorable line said by Mafia leader Michael Corleone played by Al Pacino in “The Godfather Part III.” He says, “Just when I thought I was out, they pull me back in.” Michael Corleone wanted to get out of the family Mafia business and start anew in something that was socially legitimate and responsible for his family. But given his power and influence, some gangster...
KEB Hana CEO Ji eyeing North Africa
KEB Hana Bank CEO Ji Sung-kyoo is moving to draw a roadmap to enter the North African region, the lender said Tuesday. It is eyeing the energy and infrastructure sectors in North African countries such as Morocco and Algeria. There the bank could seek to provide project financing through its branch in France or through partnerships with European and African financial companie...
Credit cards' delinquency rate jumps on economic slowdown
The country's seven credit card companies saw their delinquency rates rise in the first quarter of the year, according to the Financial Supervisory Service (FSS), Monday. This came as they increased their lending to the self-employed and households. The companies' rates, in general, increased by less than 1 percentage point year-on-year. Samsung Card's rate rose the highest b...
Cho to help Suhyup attract young customers
Cho Bo-ah, a local TV and film star, will be representing and promoting Suhyup Bank to help it attract young customers for a year, according to Suhyup, Monday. She became the bank's PR ambassador last month. “Given Cho's strong appeal to young people, she will be able to back us to target customers in their 20s,” said a Suhyup Bank spokesman.
Boosting alternative assets
Korea Investment Corp. (KIC) CEO Choi Hee-nam, right, shakes hands with So Seong-mo, president of the National Agricultural Cooperative Federation, at the KIC headquarters in Seoul, Monday, after agreeing to collaborate on managing alternative assets overseas. The KIC said it will help the federation boost its investment returns abroad. Courtesy of KIC
Korean banks seek expansion in Indonesia
Local banks are seeking to increase their presence in Indonesia by expanding their services in digital banking and asset management. Bank Shinhan Indonesia has launched a new service enabling local customers to wire money overseas via online, according to Shinhan Bank in Seoul, Sunday. They can transfer funds in six currencies including the Japanese yen and Hong Kong dollar.
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