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Reporter : Lee Yeon-woo
Wed, October 4, 2023 | 11:22
KB chief takes part in Zero Disposable Challenge
KB Financial Group Chairman Yoon Jong-kyoo took part in the Zero Disposable Challenge, a campaign started by the Ministry of Environment aiming to reduce the use of disposable products in daily life.
Hana Financial Group joins bid to acquire KDB Life
Hana Financial Group has entered the fray to acquire KDB Life, the insurance arm of the Korean Development Bank (KDB). This move is viewed as an attempt to enhance its competitiveness in the insurance market, particularly as its rivals, KB Financial Group and Shinhan Financial Group, seek to strengthen their non-banking arms through separate acquisitions.
Revision to law planned to allow financial authorities to supervise MG Community Credit
The National Assembly is proceeding with a revision in the law that would permit financial authorities to supervise MG Community Credit Cooperative instead of the Ministry of the Interior and Safety.
Shinhan Bank celebrates 41st anniversary
Shinhan Bank CEO Jung Sang-hyuk, center, poses with the bank's employees during a ceremony marking its 41st anniversary at the bank's headquarters in downtown Seoul, Friday. During the ceremony, Jung emphasized the importance of prioritizing customers in business strategies and called for innovation for the future. Courtesy of Shinhan Bank
Toss to acquire SSG Pay and Smile Pay
Toss has tentatively agreed to acquire Shinsegae Group's online payment services, SSG Pay and Smile Pay, for approximately 700 billion won ($537 million), according to market sources and media reports, Thursday.
Internet-only banks rise in mortgage lending sector
Internet-only banks are establishing their presence in the loan market through mortgage lending services, leveraging their non-face-to-face services and competitive interest rates as key strengths.
Executive's involvement in stock manipulation sends shockwaves through securities firms
Tension is rising in the financial industry as prosecutors seek to arrest an incumbent executive of a securities firm suspected of involvement in a recent stock manipulation scam.
MG Community Credit faces emergency measures amid soaring default rates
The government has initiated emergency measures for the Korea Federation of Community Credit Cooperatives (KFCC), also known as MG Community Credit Cooperatives, in response to rising public concerns over its record-high delinquency rates, with some branches even reporting a 20 percent default rate.
Inflation eased to 21-month low in June, signaling key interest rate freeze
Consumer price rises in Korea fell below 3 percent for the first time in 21 months this June, marking a fifth consecutive month of deceleration. As the figure signals a cooling of inflation, experts think the key interest rate will likely be maintained at its current level in the forthcoming monetary policy meeting.
KB to announce shortlist for chairman next month
KB Financial Group is accelerating its succession process as the current chairman's term is set to expire this November. The planned timeline involves convening an executive recommendation committee next month, narrowing down a shortlist and selecting the final candidates in September.
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