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The Korea Times

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Asia

The Korea Times

Finance

Companies

Sat, February 4, 2023 | 23:33

Former FSC chief tapped as next chairman of Woori Financial Group

Former FSC chief tapped as next chairman of Woori Financial Group

Woori Financial Group on Friday nominated former Financial Services Commission (FSC) chief Yim Jong-yong as its next chairman and CEO.

2023-02-03 20:25

Ex-financial bureaucrat nominated as Woori Financial chairman

Ex-financial bureaucrat nominated as Woori Financial chairman

Woori Financial Group said Friday that Yim Jong-ryong, a high-profile, retired financial bureaucrat, has been nominated as the firm's next chief. A former Financial Services Commission (FSC) chairman, Yim will be officially appointed for a three-year term at the financial holding company if he receives confirmation from shareholders and the board of directors in their meeting...

Yi Whan-woo | 2023-02-03 20:19

FSC OKs Apple Pay to be available in Korea

FSC OKs Apple Pay to be available in Korea

Apple Pay is expected to be launched in Korea soon, as the financial authorities have finally given the green light to its mobile payment service to be made available in the country. The Financial Services Commission (FSC), the country's top financial regulator, announced Friday it has finished reviewing related local laws, concluding that local credit card companies can offi...

Anna J. Park | 2023-02-03 16:22

K bank decides to delay IPO plan

K bank decides to delay IPO plan

K bank has officially decided to halt its IPO procedure, due mainly to unfavorable market conditions that attributed to a decline in the internet-only bank's corporate value. The bank made the decision earlier this week, five days before the deadline for submitting a prospectus for its IPO procedure.

Anna J. Park | 2023-02-03 14:43

KOSPI rallies as Fed shows signs of slowing rate hikes

KOSPI rallies as Fed shows signs of slowing rate hikes

The benchmark KOSPI advanced Thursday after the U.S. Fed slowed its pace of rate hikes, in a relief rally buoyed by increasing hopes for an end to the cycle of global monetary tightening. Other multiple indices also moved in favor of risky assets, with the U.S. dollar losing its ground against the Korean won. Cryptocurrencies extended gains after the Fed's “unsurprising” deci...

Lee Min-hyung | 2023-02-02 16:39

Dutch chip firm ASM to invest $100 mil. in Korea for facility expansion

Dutch chip firm ASM to invest $100 mil. in Korea for facility expansion

Korea's industry ministry said Thursday it agreed with Dutch semiconductor equipment supplier ASM to boost cooperation for the firm's planned investment of $100 million to build a production factory and a research and development center in Korea.

2023-02-02 14:24

New Hanwha Investment leader to focus on risk management

New Hanwha Investment leader to focus on risk management

Hahn Doo-hee, president of Hanwha Asset Management, will move to Hanwha Investment & Securities as the latter's new CEO, in a strategic reshuffle of top management amid rapidly changing market conditions. Hahn is best known for his expertise in a broad range of financial investment businesses.

Lee Min-hyung | 2023-02-02 08:29

Toss Bank offers new group account product

Toss Bank offers new group account product

Toss Bank, one of Korea's major internet-only banks, announced Wednesday that it has newly launched a joint deposit account product called the “group account,” through which a group of people can jointly manage a shared account.

Anna J. Park | 2023-02-01 15:43

'Big 3' financial groups recognized in this year's Bloomberg Gender-Equality Index

'Big 3' financial groups recognized in this year's Bloomberg Gender-Equality Index

The country's three largest financial groups - KB, Shinhan and Hana - are included in this year's Bloomberg Gender-Equality Index which tracks companies' commitment to gender equality and transparency, the companies said Tuesday. The three are among 484 listed companies from 45 countries that have committed to five key pillars presented by the index.

Yi Whan-woo | 2023-01-31 15:22

Hybe acquires 56.1 percent stake in AI sound startup Supertone

Hybe acquires 56.1 percent stake in AI sound startup Supertone

Hybe, the Korean entertainment agency behind supergroup BTS, said Tuesday it has invested 45 billion won ($36.5 million) to acquire 56.1 percent of stake in Supertone, an artificial intelligence (AI) sound startup.

2023-01-31 10:28

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