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Finance

Non-banks

Thu, July 18, 2019 | 09:58

Boosting ties with Indonesia

Officials from Korea Deposit Insurance Corp. (KDIC) and its Indonesian counterpart Indonesia Deposit Insurance Corp. (IDIC) pose at KDIC headquarter in Seoul, July 10. The IDIC officials came to Seoul to attend a KDIC-organized consulting session to learn about Korea's deposit insurance payment system. Third from left is IDIC Chairman Halim Alamsyah. Courtesy of KDIC

2019-07-17 17:03

Kyobo Life gears up to start platform business

Kyobo Life Insurance has begun working with startups to expand its services into healthcare and ultimately create a platform offering various services, the insurer said Wednesday. The move comes as financial authorities pledged earlier this month to allow insurers to expand their businesses into the healthcare sector.

2019-07-17 15:13

Insurers rush to issue bonds to secure cash reserve

The nation's insurers are rushing to issue corporate bonds to secure enough cash reserves at the same time as an international standards setting body has proposed deferring the introduction of International Financial Reporting Standard (IFRS) 17 by another year to 2023. According to the insurance sector, the nation's life and non-life insurers have issued a total of 580 billi...

2019-07-16 16:00

Korea Exchange fined by US CFTC for false statement

The Korea Exchange has been fined by U.S. authorities for submitting false statements on its compliance with international financial regulations. An order filed by the U.S. Commodity Futures Trading Commission (CFTC) July 12 says the KRX falsely stated in its annual certification that it was in compliance with the CFTC's order requiring that KRX observe certain international ...

2019-07-16 15:32

KB Securities facilitates investment in Vietnam

KB Securities is focusing on offering services facilitating investment in Vietnam to capitalize on the potential of the Southeast Asian country. The brokerage said Monday it has added Vietnam to its Global One Market Service, which allows investors to trade foreign stocks in Korean won.

2019-07-15 16:49

Hyundai Card data shows preference for 'untact'

Hyundai Card's analysis of payment data from 15 major franchises providing “untact” services showed Monday that their sales jumped fivefold to 35.9 billion won ($30.3 million) in May 2019 from 6.7 billion won in January 2017.

2019-07-15 15:50

MetLife Korea's dollar insurance enjoys popularity

With the dollar sharply appreciating against the won, insurance products that take premiums and pay claims in dollars are drawing interest. Among some products that have attracted attention are MetLife Korea's Universal Dollar Whole Life, launched in January 2018. This was the first dollar-denominated interest-sensitive whole life insurance in Korea, as MetLife pioneered the ...

2019-07-15 14:25

Card firms axe sales jobs amid digitization

Card issuers are reducing their number of salespeople due to a steady increase in digital transactions coupled with a deterioration in profit margins caused by the government's fee reduction policy. Data show that 849 salespeople were let go at seven card firms - Shinhan, KB Kookmin, Samsung, Hyundai, Hana, Woori and Lotte - in the first half of the year, shrinking their numb...

2019-07-14 16:48

Agreement for digital receipts

BC Card's Executive Vice President of Marketing Kim Jin-cheol, left, poses with The Real Marketing CEO Son Jong-hee, after the two signed an agreement on issuing digital receipts, at BC Card's headquarters in southern Seoul, Thursday. The initiative aims to reduce the use of paper receipts and protect the environment. / Courtesy of BC Card

2019-07-12 16:49

Japan-based Sanwa Money halts credit loans for 5 months

Japan-based private moneylender Sanwa Money has halted new loans to Korean customers for five months, sources said Thursday.

2019-07-11 19:49

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