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Wed, October 24, 2018 | 00:46

Economy > Finance >

KDB IBK rapped for 'anti-green' investment

Korea's two state-run banks have come under increasing criticism for having spent a considerable amount of taxpayers' money to finance coal-powered plants in recent years. This flies in the face of global efforts to reduce greenhouse gases, a lawmaker said Tuesday. The money, in the form of “project financing,” was part of funds allocated by the banks to invest in power generation. According to a report released by Rep. Chang Byoung-wan of the minor opposition Party for Democracy and Peace, the Industrial Bank of Korea (IBK) has spent 109.6 billion won ($96 million) over the past six years i...

Finance | 2018-10-23 17:58

NH Investment ranks top in customer satisfaction

NH Investment & Securities has been selected as the nation's best securities firm in this year's Korean Customer Satisfaction Index (KCCI) released by the Korea Management Association Consulting (KMAC).

Finance | 2018-10-23 13:29

KDB threatens not to back GM Korea

The Korea Development Bank (KDB) may cancel its plan to give GM Korea 400 billion won ($375 million), the second portion of the $750 million government lifeline initially promised to the Korean unit of GM, KDB Chairman Lee Dong-gull said Monday. The other half has already been paid to the firm for facility construction. “We consider injecting the remaining amount is better, b...

Finance | 2018-10-22 18:28

Shinhan vows to lead 'eco-transformation'

Shinhan Financial Group will spend 20 trillion won ($17 billion) over the next decade on finance firms whose business models seek to promote sustainable, eco-friendly growth, it said Monday.

Finance | 2018-10-22 18:03

MetLife's whole life insurance gains popularity

MetLife Korea, a local unit of the largest life insurer in the U.S., is gaining market attention for the high returns of its whole life insurance product investing in U.S. treasury bonds or the country's promising firms.

Finance | 2018-10-22 16:14

Curse of stock split befalls Samsung, Naver

Splitting up stocks to make them cheaper and more easily accessible for investors with small pockets seems to be a good idea for companies seeking to boost their trading and value. But the general trading patterns after companies decided to issue more shares to their shareholders and investors show stock splits are becoming more a curse than a blessing. Blue chips that split ...

Finance | 2018-10-22 16:08

[Macro Today] It's jobs, Mr. President

In the romantic comedy movie, “Dave,” the U.S. president makes an emergency announcement that henceforth, his government's “main responsibility” will be helping every person find a job in their most difficult times. A job will bring a “smile” to everyone's face as it will give “valuable meaning” to their life. And foremost, a person with a job will get “respect” in society, t...

Finance | 2018-10-22 09:24

Shinhan Bank execs urged to think out of box

Shinhan Bank CEO Wi Sung-ho is calling on executives and other senior employees to think outside the box and keep challenging themselves to cope with the prolonged economic downturn, the bank said Sunday.

Finance | 2018-10-21 17:05

KEB Hana upgrades corporate internet banking

KEB Hana Bank said Friday that it has overhauled its corporate internet banking service to increase user convenience.

Finance | 2018-10-19 17:33

Who will lead Woori's holding company?

Woori Bank will be holding a board meeting Oct. 26 to check on its progress in transforming into a financial holding company, according to officials. But also, the board members may discuss whether to have a chairman and a bank chief executive, or a single leader allowing for one top decision-maker to run both the holding company and the bank. Some potential candidates for th...

Finance | 2018-10-19 12:52

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