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Reporter : Lee Yeon-woo
Tue, October 3, 2023 | 15:57
Lawmakers want chairmen held accountable over financial misconduct
Tensions are mounting in the financial industry amid speculation that the National Assembly may summon the chairmen of financial holding groups during the upcoming national audit. This year, the industry has faced criticism over its lack of internal controls - which have led to significant cases of embezzlement by employees - unfair trading and a surge in household debts.
30 out of 74 major financial firms lack female board member
Thirty out of 74 major financial firms in Korea, each with assets exceeding 2 trillion won ($1.4 billion), do not have a single female member on their board, data showed Tuesday.
Consumers to face higher prices for daily necessities after Chuseok
Consumers are expected to face a spike in the cost of daily necessities after the Chuseok holiday amid soaring international crude oil and other raw material prices, according to industry officials, Monday.
Internet-only banks outperform legacy lenders in labor productivity
K Bank and other internet-only banks are found to have outperformed the country's top five legacy lenders in labor productivity in the first half of the year, generating larger profits per capita, data showed Monday.
Korea's largest crypto exchange sold fake assets
Counterfeit cryptocurrencies were sold as genuine assets on Upbit, Korea's largest crypto exchange. After an internal review, Upbit is now working to bring those back.
Hana, Saudi EXIM Bank join hands to support Korean firms in Middle East
Hana Financial Group announced Tuesday that it signed a memorandum of understanding (MOU) with the Saudi Export-Import (EXIM) Bank to bolster cooperation in the Middle East.
Are 'finfluencers' helping or harming investment community?
Concerns are mounting over the rising impact of social media influencers on the domestic stock market.
KB chief bids farewell after 9-year period at helm
KB Financial Group Chairman Yoon Jong-kyoo reflected on his nine-year tenure during a press conference at KB headquarters in Seoul, Monday.
Korean banks say Iran's compensation claim is gov't issue
Iran is seeking compensation for losses incurred on the $6 billion in funds that were held in Korea, following the lifting of the U.S.-led sanctions that saw the funds frozen. The Middle Eastern country is reportedly undergoing a legal review with a view to recovering interest and the foreign exchange losses.
Big insurers up for sale, but financial conglomerates appear disinterested
While major insurance firms are queued up for sale, financial holding companies are exercising caution in proceeding with acquisition deals. This contrasts with earlier market expectations that they would actively pursue acquisitions to expand their non-banking business portfolios.
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