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Reporter : Yi Whan-woo
Fri, December 8, 2023 | 04:59
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...
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...
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...
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.
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...
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 ...
[INTERVIEW] IMF expects no recession for Korean economy
A high-ranking official from the International Monetary Fund (IMF) says that the likelihood of a recession in the Korean economy this year is slim, as China's COVID-19 reopening will provide the impetus for growth. In an interview with The Korea Times in Seoul, Tuesday, IMF Deputy Managing Director Gita Gopinath forecast that the Korean economy will continue to stay in the do...
IMF slashes Korea's 2023 economic growth outlook to 1.7%
The International Monetary Fund (IMF) lowered its 2023 economic growth forecast for Korea to 1.7 percent, Tuesday, down from the 2 percent figure announced in its previous forecast back in October of last year. The revised outlook for Korea is comparable to the country's estimated growth of 2.6 percent in 2022. Korea's economy is also anticipated to expand 2.6 percent in 2024.
'Big 3' financial groups recognized in this year's Bloomberg Gender-Equality Index
The country's three largest financial groups - KB, Shinhan and Hana - are included in this year's Bloomberg Gender-Equality Index which tracks companies' commitment to gender equality and transparency, the companies said Tuesday. The three are among 484 listed companies from 45 countries that have committed to five key pillars presented by the index.
Shinhan Financial launches group-wide data network
Shinhan Financial Group has formed a single, group-wide network connecting the data of all its affiliates, the lender announced on Monday. It said its One Data network is aimed at standardizing data across its major affiliates, including Shinhan Bank, Shinhan Card, Shinhan Securities and Shinhan Life Insurance.