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Sun, June 4, 2023 | 00:33

Sovereign fund KIC holds 2nd Silicon Valley Int'l Financial Cooperation Council

Sovereign fund KIC holds 2nd Silicon Valley Int'l Financial Cooperation Council

In a move to strengthen networks with venture capitalists and startups in the U.S., the Korea Investment Corp. (KIC) hosted the second installment of the Silicon Valley International Financial Cooperation Council on Thursday afternoon, local time, at its San Francisco office in Menlo Park, California. About 30 participants, including venture capitalists, asset managers, offic...

Anna J. Park | 2023-04-14 14:07

KB signs MOU with law firms to bolster legal support for wealthy customers

KB signs MOU with law firms to bolster legal support for wealthy customers

KB Financial Group signed an MOU with two of the country's leading law firms - Shin & Kim and Bae, Kim & Lee - to bolster its legal consulting service for its wealthy customers.

Yoon Ja-young | 2023-04-13 16:45

Regulator to restrict banks from shutting down branches

Regulator to restrict banks from shutting down branches

The Financial Service Commission (FSC) has announced that banks are no longer allowed to shut down their branches without first preparing measures to alternatively offer the same level of service to customers. Additionally, banks should collect feedback from customers during the closure process to ensure their needs are being met. The new restrictions will take effect from ne...

Lee Yeon-woo | 2023-04-13 16:33

Former TikTok general manager becomes Toss Securities CEO

Former TikTok general manager becomes Toss Securities CEO

It is extremely rare to see a non-financial expert lead a local brokerage firm as CEO in Korea. But Kim Seung-yeon, the new CEO at Toss Securities since early April, is breaking the stereotypical mold. Kim, 42, has built an extensive career at global IT firms, including TikTok and Google, during the past 15 years.

Anna J. Park | 2023-04-13 09:00

KB Kookmin Bank gets approval to continue mobile communications biz

KB Kookmin Bank gets approval to continue mobile communications biz

KB Kookmin Bank's mobile virtual network operator (MVNO) service, Liiv M, has officially obtained government approval to continue business in Korea. MVNO operators refer to those who provide wireless communications services to customers, without owning the wireless network infrastructure.

Anna J. Park | 2023-04-12 16:44

Investors urged to avoid steeply rising EcoPro stocks on overvaluation risk

Investors urged to avoid steeply rising EcoPro stocks on overvaluation risk

EcoPro shares extended a sharp rally on Tuesday on its surprising triple-digit earnings growth, but market experts advised investors to be aware of overvaluation risks in the Kosdaq-listed leading rechargeable battery maker's stock price.

Lee Min-hyung | 2023-04-11 16:38

IBK chief vows to expand bank's assets to 500 tril. won by 2025

IBK chief vows to expand bank's assets to 500 tril. won by 2025

Industrial Bank of Korea (IBK) CEO Kim Seong-tae pledged to nurture the bank to a target value of 500 trillion won ($378 billion) in total assets by 2025. “IBK aims to become a top-notch international financial group,” Kim said during a press meeting in Seoul on Tuesday commemorating his first 100 days in office.

Lee Yeon-woo | 2023-04-11 15:49

Samsung to share patent technologies with smaller firms

Samsung to share patent technologies with smaller firms

Tech giant Samsung Electronics will allow smaller domestic companies to use more of its royalty-free technologies to achieve shared growth, the industry ministry said Tuesday.

2023-04-11 11:01

Big firms' borrowing costs soar in 2022 on high interest rates

Big firms' borrowing costs soar in 2022 on high interest rates

Large Korean firms saw their interest expenses spike more than 50 percent in 2022 from a year earlier due to rising interest rates, a corporate tracker said Tuesday.

2023-04-11 09:38

BNK, JB, DGB feared to suffer earnings fall on weak non-banking portfolio

BNK, JB, DGB feared to suffer earnings fall on weak non-banking portfolio

Provincial banking groups such as BNK, JB and DGB Financial Group are forecast to suffer an earnings fall this year due to their weak non-banking business structures. Last year, the three financial holding firms generated robust profit growth, which was driven by improved loan-to-deposit margins amid global monetary tightening.

Lee Min-hyung | 2023-04-11 08:47

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