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Sun, June 24, 2018 | 21:45

Economy > Finance >

Woori Bank acquires VisionFund Cambodia

Woori Bank said Sunday that it had acquired a financial institution in Cambodia.

Finance | 2018-06-24 17:11

Korea's first Internet bank struggling to raise capital

K-Bank, the country's first Internet-only bank, is struggling to raise the capital it needs to expand as profits remain elusive amid increasing costs, sources directly involved with the issue said.

Finance | 2018-06-24 17:10

SKT, KT warned of earnings impact from tariff cuts

Korea's top telecom regulator is pushing forward with a plan to ask telecom companies to cut prices after a consumer rights group argued that about 80 percent of people in the country feel “highly burdened” by telecom-related costs.

Finance | 2018-06-24 17:10

FSS to expand probe on lending rate irregularities

After finding thousands of irregularities in banks' decisions on lending rates for individual customers, the Financial Supervisory Service (FSS) is expected to look into lending records over the past five years in more detail to uncover any wrongdoing.

Finance | 2018-06-24 16:26

Hedge funds attract more investment

Korea's hedge fund market has surpassed 20 trillion won ($18 billion) as more investors seek to put money into diverse investment tools for larger profits. It only took six years for it to become a 20 trillion won market, since hedge funds were introduced here in December 2011 under Korea's Financial Services Commission (FSC)'s approval.

Finance | 2018-06-22 16:54

Shinhan desperate to attract foreign investments

Shinhan Financial Group Chairman & CEO Cho Yong-byoungBy Jhoo Dong-chanShinhan Financial Group Chairman & CEO Cho Yong-byoung has been going on overseas trips every month to attract foreign investors. He has visited big global players such as foreign pension funds and asset management firms. Shinhan Financial Group said his efforts are being rewarded with more foreign...

Finance | 2018-06-22 16:54

Daily mobile banking reaches W5 tril.

The daily banking volume traded via smartphones has surpassed 5 trillion won ($4.49 billion) in Korea. According to the Bank of Korea, Thursday, the average number of banking access via internet was 108.53 million a day in the first quarter this year, up 14 percent from the previous quarter.

Finance | 2018-06-21 19:08

Korean won continues to weaken against dollar

The Korean currency is weakening against the dollar as global funds are leaving the local market amid concerns over an intensifying trade war between the United States and China and a key rate hike by the Federal Reserve.

Finance | 2018-06-21 17:35

Brokerages exit from China

Korean brokerages are exiting the Chinese market after sustaining heavy losses because of the country's formidable financial barriers. Another reason behind their recent disappointing sales is investors' deflated confidence after an affiliate of a major Chinese energy firm defaulted on a bond payment.

Finance | 2018-06-20 19:29

Koreans buying more shares of Amazon, Facebook

More Koreans are opening global accounts with domestic brokerages to buy foreign stocks, providing a lucrative source of income for securities firms.

Finance | 2018-06-20 17:43

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