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Tue, November 13, 2018 | 09:32

Economy >

Calls grow to revamp economic policies

President Moon Jae-in has called on his advisers and ministers to address problems in the economy through a set of combined social and macroeconomic policies. New policy chief Kim Soo-hyun told the press on Nov. 11 about the President's orders, while reassuring that Finance Minister nominee Hong Nam-ki will be in charge of directing the future course of the government's econo...

Finance | 2018-11-12 16:56

Banks stop intermediary transfers in New York

Some Korean banks in New York have shut down their intermediary wire transfer operations as the United States has enforced stronger preventive measures and rules on money laundering and shadow banking, industry sources say. Besides offering regular loan and deposit services, they had operated as intermediary banks, enabling funds to be transferred and “relayed” through them t...

Finance | 2018-11-12 09:21

Feud over card fee reduction deepening

A coalition of union workers at credit card companies vowed to continue their all-out protest against the government's plan to lower transaction fees up to 1 trillion won ($875 million).

Finance | 2018-11-12 17:05

Boy band Wanna One boosting Shinhan's image

Global sensation, boy band BTS, may have helped boost the corporate image and services of KB Kookmin Bank. But Shinhan Bank has Wanna One to thank for helping the lender attract a large number of young customers to its financial products, the bank said. The 11-member boy band first emerged on a television program in 2017 where newcomers duke it out until the final round of si...

Finance | 2018-11-12 16:57

Helping education in Indonesia

Industrial Bank of Korea (IBK) Deputy CEO Im Sang-hyun, fifth from right in the second row, and Deputy Indonesian Ambassador to South Korea Siti Sofia Sudarma, sixth from left in the same row, hold a certificate worth 330 million won ($330,000) given by the IBK to Indonesia to help improve education in the Southeast Asian country, at a ceremony to launch the lender's global v...

Photo News | 2018-11-12 17:06

Sharing experience in risk management

Cho Jae-hee, second from left, managing director of risk management at Shinhan Bank, poses with Nguyen Kim Anh, third from left, deputy governor of the State Bank of Vietnam at a conference on risk in Hanoi, Nov. 8. Shinhan officials participated in the conference to share their knowhow in the management of risk ahead of the implementation of the Basel enhanced capital risk a...

Photo News | 2018-11-12 15:24

Finance minister nominee signals more market-friendly policy

The Moon administration's second economic team will focus on reinvigorating the economy for the lower and middle classes by pursuing three key policies of income growth, innovation and fair competition, said Finance Minister nominee Hong Nam-ki.

Politics | 2018-11-11 16:58

Chief of staff for policy Kim vows to support finance minister

Woori launches taskforce for holding company

Woori Bank has organized an internal taskforce that will take charge of incorporating and launching Woori Financial Group in January 2019, according to the bank Sunday. The team consists of personnel from strategy, information and technology, accounting and finance, and human resources divisions. “The taskforce, from now on, will take care of matters concerning the launch of ...

Finance | 2018-11-11 14:57

[Macro Today] Let market revolution start

Over the past decade, nothing has changed much in the economy, especially finance. But particularly, the capital market really hasn't really seen a glimmer of hope. Not even with high expectations for the Financial Services and Capital Markets Act that aimed to boost competition and create big investment banks by tearing down the walls between securities, futures and asset ma...

Finance | 2018-11-11 09:33

NH seeks to expand presence in Vietnam

NongHyup Financial Group has agreed to strengthen its partnership with Vietnam's Agribank to expand and diversify its business in the rapidly growing Southeast Asian country.

Finance | 2018-11-11 17:25

Choking on worsening air pollution