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Sat, January 28, 2023 | 21:31
Securities firms face dismal earnings results for 2022
Securities firms face dismal earnings results for 2022
Korea's major securities firms are forecast to report weaker-than-expected earnings for 2022, as their brokerage commission revenues plunged in the wake of an unexpected stock market crash sparked by steep rate hikes and multiple external risk factors such as the outbreak of war in Ukraine, data showed Friday. Mirae Asset Securities, the nation's largest brokerage house by ma...
Lee Min-hyung | 2023-01-27 16:52
Woori shortlists four candidates for next chairman
Woori shortlists four candidates for next chairman
Woori Financial Group confirmed the shortlist for its next chairman, Friday, with four contenders vying for the leadership of the financial holding firm. The four candidates included Woori Bank CEO Lee Won-duk, Woori America Bank CEO Shin Hyun-seok, former Woori FIS CEO Lee Dong-yeon and former Financial Services Commission (FSC) Chairman Lim Jong-ryong.
Lee Min-hyung | 2023-01-27 16:07
Biz outlook worsens for Feb. amid recession woes
Biz outlook worsens for Feb. amid recession woes
Korea's business sentiment worsened for February as worries over high inflation, monetary tightening and an economic slump weighed on sentiment, a central bank poll showed Friday.
2023-01-27 10:04
FSS chief warns of stern action against opposition to normalizing banks' biz hours
FSS chief warns of stern action against opposition to normalizing banks' biz hours
A financial regulator chief on Thursday warned of stern action against labor unions opposing banks' plan to "normalize" their pandemic-caused shortened operation hours as the government is set to lift the indoor mask mandate later this month.
2023-01-26 15:09
  • FSS chief urges insurers to focus on stability
Major Korean banks' overseas branches sanctioned by foreign authorities
Major Korean banks' overseas branches sanctioned by foreign authorities
Major local banks' overseas legal entities were sanctioned or fined by foreign financial authorities for various reasons last year, raising concerns about whether the banks are successfully maintaining internal controls in their overseas operations.
Anna J. Park | 2023-01-25 17:00
Mirae Asset Global Investments' solid performance highlighted amid economic slump
Mirae Asset Global Investments' solid performance highlighted amid economic slump
Despite the deteriorating economic outlook worldwide, Mirae Asset's global business has proven its competitiveness especially in times of crisis.
Yoon Ja-young | 2023-01-25 16:59
Unison Capital, MBK consortium to take over Osstem Implant
Unison Capital, MBK consortium to take over Osstem Implant
News of private equity firms planning to acquire the management rights of Osstem Implant caused shares of the dental implant material manufacturer to soar Wednesday. Osstem Implant is one of the world's largest dental implant makers.
Anna J. Park | 2023-01-25 16:02
Former top financial regulator to vie for Woori chairmanship
Former top financial regulator to vie for Woori chairmanship
Lim Jong-ryong, former chief of the Financial Services Commission (FSC), declared his interest in becoming Woori Financial Group's next chairman, citing his competitive edge in mapping out a balanced and neutral management vision. “I have an objective and neutral mindset when it comes to managing a financial organization, which was proven by my broad range of experiences at g...
Lee Min-hyung | 2023-01-25 15:24
Banks offer financial support programs as households face mounting interest burdens
Banks offer financial support programs as households face mounting interest burdens
Local commercial lenders are launching a series of financial support programs for households and vulnerable social groups amid escalating pressure from watchdogs. KB Kookmin Bank was the first to operate its own household support program, in a preemptive move to ease households' growing financial burden. The lender will cut the interest rate for loans that are overdue by 1 pe...
Lee Min-hyung | 2023-01-24 15:17
End of mask mandate to intensify dispute over banks' operating hours
End of mask mandate to intensify dispute over banks' operating hours
Korean commercial banks are under growing pressure to normalize offline operating hours after health authorities on Friday decided to lift a mandate that requires face masks in all indoor facilities. The decision will take effect from Jan. 30. The mask mandate will only continue to remain in place at hospitals, pharmacies and when using public transportation.
Yi Whan-woo | 2023-01-20 16:13
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Top 10 Stories
1People attempt to cut surging heating costs with creative solutions People attempt to cut surging heating costs with creative solutions
2Cabinet ministries turn deaf ear to watchdog's advice on sexual minorities Cabinet ministries turn deaf ear to watchdog's advice on sexual minorities
3Seoul to work with Hanoi to pursue peace on Korean peninsula Seoul to work with Hanoi to pursue peace on Korean peninsula
4More Korean manufacturers enjoy Georgia's hospitality More Korean manufacturers enjoy Georgia's hospitality
5Superintendent of Seoul Education Office gets suspended jail term Superintendent of Seoul Education Office gets suspended jail term
6SK E&S retains gov't support for Barossa gas project in Australia SK E&S retains gov't support for Barossa gas project in Australia
7Indonesia celebrates 50th anniversary of diplomatic ties with Korea via virtual event Indonesia celebrates 50th anniversary of diplomatic ties with Korea via virtual event
8KT&G aims to become global top-tier company KT&G aims to become global top-tier company
9LGES to capitalize on US IRA, Tesla partnership to continue record earnings LGES to capitalize on US IRA, Tesla partnership to continue record earnings
10Middle East 'sales diplomacy' picks up speed Middle East 'sales diplomacy' picks up speed
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