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Sat, December 9, 2023 | 16:44

Korean banks say Iran's compensation claim is gov't issue

Korean banks say Iran's compensation claim is gov't issue

Iran is seeking compensation for losses incurred on the $6 billion in funds that were held in Korea, following the lifting of the U.S.-led sanctions that saw the funds frozen. The Middle Eastern country is reportedly undergoing a legal review with a view to recovering interest and the foreign exchange losses.

2023-09-22 17:18

Hana Bank receives best sub-custodian bank award

Hana Bank receives best sub-custodian bank award

Hana Bank was selected by Global Finance Magazine as the recipient of the Best Sub-Custodian Bank Award 2023 within Korea, Tuesday, according to the lender.

2023-09-22 16:52

Big insurers up for sale, but financial conglomerates appear disinterested

Big insurers up for sale, but financial conglomerates appear disinterested

While major insurance firms are queued up for sale, financial holding companies are exercising caution in proceeding with acquisition deals. This contrasts with earlier market expectations that they would actively pursue acquisitions to expand their non-banking business portfolios.

2023-09-22 16:40

Largest embezzlement case in Korean history exposed at BNK Kyongnam Bank

Largest embezzlement case in Korean history exposed at BNK Kyongnam Bank

The Financial Supervisory Service (FSS) has confirmed that the extent of embezzlement in the recent real estate project financing (PF) scandal at BNK Kyongnam Bank is significantly larger than initially thought, with the total amounting to 298.8 billion won ($224 million). This stands as the largest embezzlement case ever recorded in the Korean financial market.

Lee Yeon-woo | 2023-09-20 16:12

Hollys Coffee moves on IPO

Hollys Coffee moves on IPO

Hollys Coffee's franchiser KG Hollys F&B has recently initiated procedures to go public, sending a request for proposal (RFP) earlier this month to major securities firms known for expertise in managing initial public offerings (IPOs).

Anna J. Park | 2023-09-20 16:00

Naver, Kakao engage in fierce payment competition in China, Japan

Naver, Kakao engage in fierce payment competition in China, Japan

Naver Pay and Kakao Pay, the two leading mobile payment service businesses in Korea, are pit against each other in the Chinese and Japanese markets, as their domestic growth rates have somewhat slowed due to market saturation. Naver Pay announced on Tuesday that its mobile payment service can now be widely utilized in China, by scanning a QR code, at all affiliated stores of ...

Anna J. Park | 2023-09-19 16:39

Hana Playlist Concert

Hana Playlist Concert

K-pop girl group IVE performs as part of the Hana Playlist Concert at Yonsei University in Seoul, Sunday. Hosted by Hana Bank for two days on Saturday and Sunday, the concert featuring top artists including PSY, Sung Si-kyung, MeloMance, Zerobaseone, IVE and Jannabi had around 500,000 customers applying for tickets. The bank noted that it will continue hosting diverse cultura...

2023-09-18 16:11

Policy banks expand coal power funding despite ESG emphasis

Policy banks expand coal power funding despite ESG emphasis

Despite their emphasis on sustainable finance, the Korea Development Bank (KDB) and the Export-Import Bank of Korea (Eximbank) have been increasing their financial support for coal-fired power generation.

Lee Yeon-woo | 2023-09-18 15:51

K bank, KakaoBank and Toss Bank's delinquency rates rise to all-time high

K bank, KakaoBank and Toss Bank's delinquency rates rise to all-time high

With interest rates remaining high, the financial soundness of three internet-only banks - K bank, KakaoBank and Toss Bank - has begun to deteriorate, as their delinquency rates continue to soar to highs. The fact that the banks provide a larger proportion of their credit loans to medium- and low-credit borrowers is even more concerning.

Anna J. Park | 2023-09-18 15:24

Delinquency ratio on bank loans up in July on decrease in resolved loans

Deutsche Bank to allocate additional $150 mil. for its Seoul business

Deutsche Bank to allocate additional $150 mil. for its Seoul business

Deutsche Bank announced a capital allocation increase for its Seoul branch of 211.5 billion won ($150 million), Sunday, to support the bank's growth in the country and undertake more activities for its clients.

Lee Yeon-woo | 2023-09-17 15:55

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