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Finance

Banks

Wed, October 27, 2021 | 20:05

Bank workers to strike in protest of branch shutdowns

Unionized workers of commercial and state-run banks nationwide plan to go on strike later this month to protest the management's unilateral decision to close branches and to increase wages at a lower-than-expected rate, the Korean Financial Industry Union (KFIU) said last week.

Park Jae-hyuk | 2021-09-03 13:48

Block deal leads KakaoBank's stock price to drop

KakaoBank's stock price tumbled almost eight percent on Thursday, finishing at 81,900 won ($70.53), due to a massive block deal - or the sale of a large number of securities - worth over one trillion won.

Anna J. Park | 2021-09-02 17:15

Citibank Korea set to pay huge compensation for retirees

As Citibank Korea is planning to implement a voluntary retirement program, with employees applying for the program being eligible to receive huge compensation, market watchers are paying close attention to whether the bank's selloff plan for its retail division could make any noticeable progress.

Anna J. Park | 2021-09-02 15:13

Shinhan Financial to prioritize convenience, innovation, ESG values

Shinhan Financial Group pledged that it will place greater emphasis on convenience, innovation and safety to enhance customer satisfaction - a new set of goals outlined on its 20th anniversary, which fell on Wednesday.

Lee Kyung-min | 2021-09-01 15:53

Banks step up wealth management services for elderly

Commercial banks are capitalizing on a sharp rise in the elderly population, which is increasing demand for services related to safe transfer of wealth to designated beneficiaries.

Yi Whan-woo | 2021-09-01 09:00

Standard Chartered, Linklogis to launch joint venture

Standard Chartered, a leading international banking group, and Linklogis, a leading supply chain finance technology solution provider in China, announced a joint venture to establish Olea on Monday. Olea is a blockchain-enabled digital trade finance platform, aiming to bring together institutional investors seeking opportunities in an alternative asset class with businesses r...

2021-08-30 15:12

Woori Financial chairman wins lawsuit against watchdog

Woori Financial Group Chairman Son Tae-seung has won an administrative lawsuit against the Financial Supervisory Services (FSS) over the latter's decision to slap a reprimand warning on the Woori chief by holding him responsible for its involvement in the misselling of risky derivative-linked funds (DLF).

Lee Min-hyung | 2021-08-27 17:26

For convenience of foreign customers

A Woori Bank model promotes the bank's new service that enables foreigners to send up to $50,000 a year to other countries by using the Woori WON Banking app without visiting offline branches. Woori Bank said Thursday it will continue to provide services that satisfy the demand of foreign customers for contactless financial transactions. Courtesy of Woori Bank

Park Jae-hyuk | 2021-08-26 12:00

Shinhan expanding financial support for EV industry

Shinhan Bank Vice President Jeong Ji-ho, right, poses with International Electric Vehicle Expo Chairman Kim Dae-hwan after signing a partnership on co-fostering the nation's electric vehicle (EV) industry. Under the partnership, Shinhan Bank will provide a package of financial support for expanding the nation's EV infrastructure.

Lee Min-hyung | 2021-08-25 16:37

Toss Bank questioned over profitable growth

Will Toss Bank, the country's third internet-only bank, achieve a huge success just like its older competitors KakaoBank and K bank? While Toss Bank is widely anticipated to find its own niche market, including credit loans, some still raise concerns over its profitability.

Anna J. Park | 2021-08-25 16:16

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