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Reporter : Yi Whan-woo
Fri, July 1, 2022 | 02:34
Outgoing, incoming gov'ts clash over key economic policies
The outgoing and incoming administrations of President Moon Jae-in and President-elect Yoon Suk-yeol are increasingly on a collision course over major economic policies, as the transition committee is materializing plans to overturn several of Moon's core policies that Yoon deems impractical.
Banks set to ask president-elect to ease regulations on digital asset-related services
The Korea Federation of Banks (KFB), a lobby group representing lenders, plans to ask President-elect Yoon Suk-yeol to ease regulations and allow them to advance into digital assets and robot-assisted investment businesses, according to industry sources, Wednesday.
Household debt puts Yoon in dilemma over loan deregulation
President-elect Yoon Suk-yeol appears to be facing a dilemma in his push to drastically ease lending rules for home buyers, as experts inside and outside of Korea are urging caution in some of his real estate policies. The alarm comes amid soaring inflation and snowballing household debt, which may grow worse altogether if strict regulations on mortgage loans imposed by the M...
KDB's capability of salvaging financially troubled firms called into question
The botched sale of SsangYong Motor is calling into question the capability of its main creditor, the Korea Development Bank (KDB), in salvaging financially troubled companies. SsangYong Motor joins Daewoo Shipbuilding & Marine Engineering (DSME), also under KDB control, in remaining unsuccessful at finding new owners during the Moon Jae-in administration.
New Hana Financial chairman visits wildfire-hit regions on 1st day of work
Hana Financial Group Chairman Ham Young-joo visited the country's eastern coastal areas that were hit recently by major wildfires, in his first public activity after taking the helm of the banking group. The company said Tuesday that Ham went to Gangneung, Uljin and other regions damaged by the wildfires, instead of heading to his office on his first workday as the chairman, ...
Chungcheong provinces hopeful of establishing regional bank
The country's central provinces of Chungcheong are apparently encouraged by President-elect Yoon Suk-yeol's push to foster the banking industry outside of Seoul, after 24 years of being the only regions in the country with no provincial bank of their own.
NongHyup shortlists final candidates for 3 new outside directors
NongHyup Financial Group has shortlisted candidates for its three new outside directors, the banking group announced Monday. The candidates are Sangmyung University economics professor Seo Eun-sook, Korea Institute of Finance (KIF) director Lee Soon-ho and Pusan National University climate science professor Ha Kyung-ja.
IBK signs deal to match jobseekers, SMEs in digital technology
The Industrial Bank of Korea (IBK) said Sunday it has signed a memorandum of understanding with the Seoul Business Agency and the Korea Artificial Intelligence Association to nurture talented workers in digital technology and help them land jobs in promising companies.
New chairman aims to make Hana top financial group in Asia
Ham Young-joo, the new chairman of Hana Financial Group, has pledged to propel the country's third-largest banking group to reach the top in Asia, in his vision unveiled after taking office for a three-year term, Friday. Announced by the group, Sunday, the vision centers on three strategies - to maximize the group's competiveness and accordingly restructure non-banking busine...
Shinhan Financial to retire stocks worth W150 bil. to return more benefits to shareholders
Shinhan Financial Group announced Thursday it will retire a part of its stocks worth 150 billion won ($123 million) in a bid to raise its stock value and return more benefits to its shareholders. During a regular shareholders' meeting, the country's second-largest banking group said it will also continue to pay quarterly dividends. Shinhan started paying quarterly dividends l...
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