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Thu, December 8, 2022 | 08:00

Financial companies address IT safety over Kakao fiasco

Financial companies address IT safety over Kakao fiasco

Commercial banks are underlining their IT security measures aimed at protecting customers' data and ensuring undisrupted services, in the wake of the latest service malfunction suffered by the country's two major tech firms - Kakao and Naver. The malfunction was caused by a fire on Saturday at an SK C&C data center that Kakao and Naver had been outsourcing.

Yi Whan-woo | 2022-10-18 16:41

Korea seeks more investment from Netherlands in chips, new energy fields

Korea seeks more investment from Netherlands in chips, new energy fields

Korea asked the Netherlands on Tuesday to make greater investments and enhance bilateral cooperation in semiconductors and such advanced industry fields as hydrogen and nuclear power generation, Seoul's industry ministry said.

2022-10-18 11:48

Financial authority launches probe into Kakao over service outage

Financial authority launches probe into Kakao over service outage

The Financial Supervisory Service (FSS) is looking into whether Kakao's financial affiliates took timely countermeasures after a fire broke out at a data center on Saturday. According to the financial authority, it demanded KakaoBank, Kakao Pay and Kakaopay Securities submit their real-time response actions for the weekend.

Lee Min-hyung | 2022-10-17 16:54

Gov't to set up cybersecurity task force after Kakao disruptions

SK, Kakao, Naver heads face grilling by lawmakers over unprecedented outage

KB Financial to sponsor world badminton tournament in Indonesia

KB Financial to sponsor world badminton tournament in Indonesia

KB Financial Group is serving as the title sponsor of an international badminton tournament to be held in Malang, Indonesia, from Tuesday to Sunday, the banking group announced on Monday. A title sponsor is a patron of an event with the exclusive right to have its name appear in the event title in return for offering money, goods or services.

Yi Whan-woo | 2022-10-17 16:22

BC Card to expand footing in Vietnam

BC Card to expand footing in Vietnam

BC Card has signed a business partnership with the National Payment Corporation of Vietnam (NAPAS) to jointly promote non-cash payments, the Korean card processing company said Monday. The tie-up will enable BC Card to tap deeper into the lucrative emerging market. NAPAS offers a payment service for customers to make payments through their NAPAS-branded cards issued mostly by...

Lee Min-hyung | 2022-10-17 15:03

Hana Bank wins Best Sub-Custodian Bank award

Hana Bank wins Best Sub-Custodian Bank award

Hana Bank was named the Best Sub-Custodian Bank by Global Finance magazine in recognition of its commission competitiveness and diversified customer satisfaction capabilities, the lender said Sunday. The bank has received the award every year since 2008, except for 2010. This year is the first time that a Korean commercial lender has won its 14th award from the Global Finance...

Lee Min-hyung | 2022-10-16 16:41

Service disruptions likely to hit Kakao's stock price

Service disruptions likely to hit Kakao's stock price

Kakao, the operator of Korea's dominant mobile messenger app KakaoTalk, is expected to face a Black Monday-esque scenario after its services were shut down for more than 10 hours, the longest-ever service outage in its history. The company is considered one of the major growth stocks, enjoying a super-rally in 2021 due to excess liquidity at the time. But its upward momentum ...

Lee Min-hyung | 2022-10-16 16:18

Skepticism rises over Korea's heavy reliance on Kakao

KDB Life put up in M&A market for fifth time

KDB Life put up in M&A market for fifth time

Korea Development Bank (KDB) has officially kicked off the process to sell KDB Life Insurance, appointing Samil PwC to be the lead adviser for the sale. According to the investment banking industry Friday, KDB and Consus Asset Management - the two major shareholders of the life insurance firm - are set to send a prospectus on the sale deal to potential buyers as early as the ...

Anna J. Park | 2022-10-14 17:06

Lionheart Studio, Golfzon Commerce withdraw IPO plans

Lionheart Studio, Golfzon Commerce withdraw IPO plans

Lionheart Studio, which had been regarded as one of most anticipated IPOs for the tech-heavy Kosdaq market slated for this year, ended up canceling its listing plan, amid the market's negative sentiments towards its estimated corporate valuation as well as the public's fatigue over Kakao affiliates' series of IPOs. Originally, the subsidiary of Kakao Games was supposed to con...

Anna J. Park | 2022-10-14 16:37

SM Entertainment to terminate production contract with Lee Soo-man

SM Entertainment to terminate production contract with Lee Soo-man

SM Entertainment announced Friday that it will sever ties with its chief producer Lee Soo-man at the end of this year.

2022-10-14 15:32

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