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Finance

Banks

Tue, August 4, 2020 | 17:36

Kakao Bank achieves earnings surprise on contactless transactions

Kakao Bank achieves earnings surprise on contactless transactions

Kakao Bank has surprised the market with an outstanding earnings report, as the nation's first internet-only bank dodged the coronavirus shock due to its expertise in contactless mobile transactions. The online lender reported a net profit of 18.47 billion won ($15 million) in the first three months from January 2020, a whopping rise of 181.3 percent from the previous year.

Lee Min-hyung | 2020-05-08 17:05

Helping hands

NongHyup (NH) Financial Group's executives and staff employees, including Business Strategy Group Head and Deputy President Kim Hyung-shin, left, volunteered to assist agricultural households located in Hongcheon County, Gangwon Province, Thursday. The deputy president said the co-op financial group will provide necessary support for agricultural households in need.

Anna J. Park | 2020-05-07 16:40

Concerns grow over Korean banks' future prospects

Concerns grow over Korean banks' future prospects

Commercial banks here are raising their voices against what they consider “near-sighted” financial policies by the government, as the authorities demand lenders cooperate with strong sets of pump-priming measures to prop up the virus-hit economy. Officials from major Korean lenders said the government needs to take a longer-term viewpoint when devising financial policies even...

Lee Min-hyung | 2020-05-06 16:25

Supporting transactions overseas

Supporting transactions overseas

Export-Import Bank of Korea (Eximbank) CEO Bang Moon-kyu, left, and Shinhan Bank CEO Jin Ok-dong hold copies of a memorandum of understanding at the Eximbank headquarters in Seoul, Wednesday. They agreed to finance Korean businesses making transactions overseas amid the slowdown in global trade due to the COVID-19 pandemic. / Courtesy of Shinhan Bank

Park Jae-hyuk | 2020-05-06 15:59

Shinhan, Woori eager to let go of rigid corporate ideology

Shinhan, Woori eager to let go of rigid corporate ideology

The nation's financial industry is letting go of its long-lasting conservative and closed culture by bringing in outside experts to take top management positions. The so-called “pure-blood custom” - referring to the exclusive selection of applicants from within the company - has long been prevalent in the financial sector here. But with leaders of top-tier financial firms exp...

Lee Min-hyung | 2020-05-05 16:55

'Family Month' event by NongHyup Bank

'Family Month' event by NongHyup Bank

Actor Jung Hae-in promotes a special event offered by NongHyup Bank in commemoration of May the month of the family in Korea. The bank said Sunday it would offer mobile gift certificates and red ginseng gift sets to 550 customers who join the promotion. NongHyup Bank users can apply for the event by sending a remittance of over 10,000 won ($8.17) with the message “thank you” ...

Lee Min-hyung | 2020-05-03 16:20

Korea braces for 'green swan'

Korea braces for 'green swan'

The nation's financial authorities and companies have begun to make a series of efforts to fight climate change amid growing concerns in the international community over a potential threat from a “green swan.”

Park Jae-hyuk | 2020-05-03 09:34

Volunteer farming

Volunteer farming

NongHyup Bank CEO Son Byung-hwan, left, works with his employees at a farm in Jincheon, North Chungcheong Province, Thursday, as part of the bank's regular volunteer activities to help farmers. / Courtesy of NongHyup Bank

Kim Bo-eun | 2020-05-01 15:31

[INTERVIEW] Shinhan to adopt Equator Principles in H2

[INTERVIEW] Shinhan to adopt Equator Principles in H2

Shinhan Bank aims to become the nation's first commercial bank to join the Equator Principles Association within the second half of this year, as part of efforts to fight climate change, according the chief sustainability officer of Shinhan Financial Group.

Park Jae-hyuk | 2020-05-01 10:05

BC Card to be K bank's majority shareholder despite bill passage

BC Card to be K bank's majority shareholder despite bill passage

BC Card will seek to become K bank's majority shareholder, despite the passage of a bill that has allowed telecommunications giant KT to become the largest shareholder of the internet lender.

Kim Bo-eun | 2020-04-30 14:55

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