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Reporter : Yi Whan-woo
Fri, September 29, 2023 | 22:56
Banking federation chief meets Luxembourg finance minister
Korea Federation of Banks Chairman Kim Kwang-soo met Luxembourg Finance Minister Yuriko Backes and discussed ways of cooperation in the banking sectors of the two countries, the federation announced on Wednesday. The areas of topics discussed ranged from conventional offline banking to digital banking, wealth management, and environmental, social and corporate governance (ESG...
Companies | 2023-02-08 17:02
Shinhan Bank nominates second-in-command to fill leadership vacuum
Shinhan Bank said Wednesday that Deputy President Jung Sang-hyuk has been nominated as its new president and CEO, replacing Han Yong-gu, who abruptly resigned on Monday a little more than a month after taking office. “The nomination of Jung is aimed at minimizing the leadership vacuum at the bank, given importance of the flagship affiliate in Shinhan Financial Group and the o...
Companies | 2023-02-08 17:01
Record earnings boost Shinhan back to No. 1 rank after 3 years
Shinhan Financial Group posted record earnings for 2022 to outperform its rival KB Financial and claim the industry's top position by market capitalization for the first time in three years. In a regulatory filing, Wednesday, Shinhan Financial Group said its net profit last year came to an all-time high of 4.64 trillion won, up from its previous record of 4.19 trillion won se...
Companies | 2023-02-08 16:59
[INTERVIEW] 'Growth slowdown can accelerate depletion of retirement pension fund'
A slowdown in economic growth is feared to result in a drop in personal incomes, and accordingly, can accelerate the depletion of state-run retirement pensions in the face of low birth rates and an aging population, a pension expert warned. During a recent interview with The Korea Times, Seoul National University economics professor Hong Sok-chul said the serious nature of a ...
Economy | 2023-02-08 08:43
Shinhan publishes ESG summary report
Shinhan Financial Group has published a report summarizing its 2022 activities related to environmental, social and corporate governance (ESG) principles, the company announced on Tuesday. The 2023 edition of the ESG summary report comes as Shinhan Financial Group, for the first time in the industry, has begun publishing such reports twice a year. Other financial holding comp...
Companies | 2023-02-07 16:58
Korea to allow currency trading by offshore firms, extend market hours
Korea plans to allow offshore financial companies to directly trade Korean won and foreign currencies here in a bid to attract international investments and expand the foreign exchange market, financial authorities announced on Tuesday. To cover the trading hours of the U.S. and European markets, Korea, Asia's fourth-largest economy, also plans to run foreign exchange trading...
Economy | 2023-02-07 16:54
New Shinhan Bank CEO resigns due to health reasons
Shinhan Bank CEO Han Yong-gu stepped down just a little more than a month after taking office, the lender announced Monday. It said Han, who is in his 50s, cited his health as the reason for his resignation last week. “The company accepted his resignation as he is anticipated to undergo medical treatment for a long period of time, and minimizing the leadership vacuum is neces...
Companies | 2023-02-06 17:48
Renowned American economist to discuss China issues at Seoul webinar
Stephen Roach, a renowned American economist with expertise on China-related issues, will join a webinar to be hosted by the Institute for Global Economics. The webinar will begin at 9 a.m., Feb. 8 and last for an hour.
Economy | 2023-02-06 08:50
Ex-financial bureaucrat nominated as Woori Financial chairman
Woori Financial Group said Friday that Yim Jong-ryong, a high-profile, retired financial bureaucrat, has been nominated as the firm's next chief. A former Financial Services Commission (FSC) chairman, Yim will be officially appointed for a three-year term at the financial holding company if he receives confirmation from shareholders and the board of directors in their meeting...
Companies | 2023-02-03 20:19
US rate hike, high inflation throw BOK into dilemma
The Bank of Korea (BOK) is facing a dilemma over whether it should keep increasing its policy rate, as the U.S. Federal Reserve is poised to deliver additional rate hikes following a 25-basis-point hike, Thursday (KST).The Fed's quarter-percentage-point increment puts the U.S. base rate in a range between 4.50 percent and 4.75 percent, as compared to Korea's 3.5 percent, and ...
Economy | 2023-02-02 16:21
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[PHOTOS] Trapped along borders
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