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Reporter : Anna J. Park
Sun, July 3, 2022 | 02:58
FSS to investigate data exposure by Samsung Securities and KB Kookmin Card
The Financial Supervisory Service (FSS) said it would look into recent private information leakages by Samsung Securities and KB Kookmin Card, vowing to hold them fully responsible for the accidents.
KDB scraps sales deal of KDB Life to JC Partners
Korea Development Bank (KDB) has canceled the pre-arranged sale of its life insurance subsidiary to JC Partners which had been signed back in December 2020.
Interest rate, inflation weighing on Korean economy: S&P
The Korean economy and the Asia-Pacific economy in general are facing risk factors from the “four i's” - namely interest rate, inflation, invasion and infectious disease - which put downward pressure on the region's economic growth forecasts for this year, according to analysts from S&P Global, Wednesday.
War-induced agflation impacts Korean economy
Global supply chain disruptions compounded by Russia's invasion of Ukraine are pushing up the prices of many crops, leading to concerns over “agflation.” Korea is feared to be especially vulnerable due to its dependence on imports of food products.
Public firms concerned about restructuring under incoming Yoon administration
Concerns are growing among employees of state-owned companies about their job stability, as the incoming Yoon administration is expected to pursue major restructuring of public firms under the premise of increasing efficiency.
Banking shares remain solid amid foreigners' selling spree
Despite a selling spree by foreign investors this year, domestic banking shares have been bullish during the past month as the sector has been the main beneficiary of rising interest rates.
Shinhan Card users fall victim to identity theft
About 20 Shinhan Card customers are confirmed to have incurred 30 million won ($24,400) in combined losses from recent card fraud incidents resulting from identity theft.
FSS probe to assess K bank's financial soundness
The Financial Supervisory Service (FSS) is planning to inspect K bank next month to check its financial soundness as part of the financial authority's regular monitoring on financial institutions in the country, according to financial industry officials Friday.
MG Non-Life Insurance's insolvency to hamper JC Partners' KDB Life acquisition deal
As MG Non-Life Insurance was declared insolvent this week, its ripple effects could now adversely influence the pre-arranged sale of KDB Life to JC Partners, a major shareholder of MG Non-Life Insurance.
Kakao Pay gets green light to advance into non-life insurance market
Kakao Pay received the green light from the country's financial authorities Wednesday to advance into the non-life insurance market.
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