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Finance

Banks

Thu, January 28, 2021 | 22:56

Yulchon's reputation rests on 1.6 trillion won Indonesian lawsuit facing client KB

Yulchon's reputation rests on 1.6 trillion won Indonesian lawsuit facing client KB

Yulchon, one of the largest law firms in Korea, has come under the spotlight after KB Kookmin Bank was embroiled in a 1.6 trillion won ($1.4 billion) lawsuit in Indonesia over its acquisition of Bukopin Bank, which had been completed last August in accordance with the Korean law firm's advice.

Park Jae-hyuk | 2021-01-26 16:59

Commercial banks call profit-sharing 'unfair'

Commercial banks call profit-sharing 'unfair'

Korea's commercial banks have called the idea of big companies contributing funds to ease the financial burden of coronavirus-hit merchants “unfair,” saying the move would undermine the integrity of the capital market. The ruling Democratic Party of Korea (DPK) was the first to float the idea, with its chairman Lee Nak-yon suggesting that companies that generated profits last...

Lee Min-hyung | 2021-01-25 16:35

Bank employees enjoy hefty bonuses

Bank employees enjoy hefty bonuses

Staff at Korea's leading commercial lenders will enjoy hefty bonuses for last year due to the spike in demand for borrowing, thanks to a record-low interest rate and a combination of expansionary fiscal and monetary policies adjusted to fight the COVID-19 pandemic.

Lee Kyung-min | 2021-01-24 16:16

Tightening loan regulations drives market into further confusion

Tightening loan regulations drives market into further confusion

Households' fear is expected to escalate over the government's implementation of additional loan regulations. Experts argue this will keep distorting the loan market amid the leveraged investment boom in an era of ample liquidity.

Lee Min-hyung | 2021-01-24 16:00

Financial group leaders, ruling DPK meet over Korea New Deal

Financial group leaders, ruling DPK meet over Korea New Deal

While expressing support for the government's five-year Korea New Deal initiative, major financial groups in Korea have urged the ruling party to deregulate the country's financial market.

Anna J. Park | 2021-01-22 17:22

Shinhan kicks off big digital project worth W300 bil.

Shinhan kicks off big digital project worth W300 bil.

Shinhan Bank said Thursday it has started on a “grand journey” for what it calls the NEXT digital banking project with an investment of 300 billion won ($272 million).

Lee Min-hyung | 2021-01-21 16:29

Will KB manage to achieve profit in Myanmar?

Will KB manage to achieve profit in Myanmar?

KB Kookmin Bank started its business in Myanmar last week and all eyes are on whether the lender will be able to achieve a profit from the Southeast Asian branch in its first year despite lingering virus uncertainties there.

Lee Min-hyung | 2021-01-20 08:55

Suh chosen as sole CEO candidate for K bank

Suh chosen as sole CEO candidate for K bank

Hankook Tire & Technology Senior Vice President Suh Ho-sung has been chosen as the sole candidate to become the chief executive of K bank, the internet-only bank said, Monday.

Kim Yoo-chul | 2021-01-18 15:39

2021 expected to be banner year for Kakao Bank, Toss

2021 expected to be banner year for Kakao Bank, Toss

Last year was a historic year for initial public offerings (IPOs). While 2021 is shaping up to be no less exciting especially for fintechs, Kakao Bank and Toss are considered as some of the top IPO candidates that deserve a closer look.

Kim Yoo-chul | 2021-01-17 15:12

Hankook Tire executive may lead K bank

Hankook Tire executive may lead K bank

Hankook Tire & Technology Senior Vice President Suh Ho-sung has emerged as the top candidate to possibly lead K bank, succeeding the internet-only bank's former head, Lee Mun-whan, who abruptly resigned earlier this month citing personal reasons, less than a year after his appointment.

Park Jae-hyuk | 2021-01-17 13:45

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