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Tue, February 27, 2024 | 10:24
Rise and fall of AIIB VP Hong
Asian Infrastructure Investment Bank (AIIB) Vice President and Chief Risk Officer Hong Kyttack had no experience in leading a big organization until he was named chairman of the Korea Development Bank (KDB) three years ago.
BOK approves W10 tril. in loans for restructuring
The Bank of Korea (BOK) extended a 10 trillion won ($8.7 billion) loan to a government-initiated fund, Friday, to recapitalize policy banks involved in the restructuring of troubled shipbuilders and shippers.
Protectionism will squeeze Korean economy
The export-driven Korean economy will feel the biggest squeeze in Asia from Britain’s decision to leave the European Union, as Brexit will bring protectionism back to the international stage, economists said Sunday.
Lawmaker reignites debate on redenomination
Rep. Choi Woon-yeol of the Minjoo Party of Korea has reignited debate on redenomination. He says the authorities should cut the face value of the local currency to 1 percent or 0.1 percent from its current level; meaning that 1,000 won will be replaced by 10 won or 1 won, though its real value will be the same as before.
Fintech changing landscape of finance industry
Fintech is changing the landscape of the finance industry from banks and insurers to brokerages and asset managers as they embrace state-of-the-art technologies, attracting new customers and expanding their businesses into territories which they have barely tapped into.
Shinhan strengthens digital business
Shinhan Financial Group said Wednesday that it is strengthening its digital business department to cope with the rising demand for smart financial services.
Lawmaker aims to regulate bad loans
Rep. Je Youn-kyung of the Minjoo Party of Korea is a newcomer to the National Assembly. It has been less than a month since she became a member of parliament, but the activist-turned-lawmaker has already submitted a bill to prevent debt collectors from claiming debts that have expired.
Sumitomo Mitsui execs harass female employees
Kim, 28, was happy when she got a job at the Seoul office of Sumitomo Mitsui Banking Corp. (SMBC) three-and-a-half years ago, after completing graduate school. The Korean branch was located at Mirae Asset Center One Building in downtown Seoul, one of the most lucrative offices in Seoul’s financial district, making her proud to be a part of the Tokyo-based lender.
Banks launch new biz to fight low interest margins
Banks rush to cut their interest rates on deposits, and launch real estate consulting services for rich customers, seeking to reduce costs and find out new revenue sources in the era of historically low interest rates, lenders said Friday
Government will restart sales process of Woori Bank in August
The sale of Woori Bank will resume as early as August as the government pushes to unload its controlling stake by the end of the year, sources said Friday.
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