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Wed, April 25, 2018 | 23:15

Economy > Finance >

IBK agrees to buy Mitraniaga bank in Indonesia

Industrial Bank of Korea (IBK), the country's leading lender, will acquire a controlling stake in Indonesia's PT Bank Mitraniaga Tbk.

Finance | 2018-04-25 16:26

Woori moving to downsize workforce

Woori Bank has decided to implement a voluntary retirement program primarily to reduce the number of senior managers, despite its record profits over the past year.

Finance | 2018-04-25 15:32

Shareholders urged to stop Korean Air owner family

As the irregular behaviors of Korean Air Chairman Cho Yang-ho's daughters are tarnishing the corporate image, small investors are demanding other large shareholders including the National Pension Service (NPS) actively exercise their voting rights to stop the family members and pull up the corporate value.

Finance | 2018-04-24 16:27

Corporate watchdog probing unfair biz practices at Korean Air

SC Bank Korea launches keyboard banking

Following development of fintech, local banks are engaged in a fierce battle in the mobile sector. Some of them scrapped fees while launching remittance services that do not require cumbersome authentication. Others launched an AI-based banking platform, where customers can make financial transactions as if conversing with bank tellers. They have become banks in customers' ha...

Finance | 2018-04-24 16:23

KOMSCO holds 'minting Olympics'

Korea Minting and Security Printing Corp. (KOMSCO) said Monday it is holding the 30th Mint Directors Conference (MDC), a worldwide conference of minting industry experts.

Finance | 2018-04-23 16:37

New NH chief to enhance non-banking sectors

New Nonghyup (NH) Financial Group Chairman Kim Gwang-soo said he will strengthen the non-banking sectors as the group's future growth engines. He did not specify a detailed plan, but the group will also expand its overseas operations as well.

Finance | 2018-04-22 17:07

Bio stocks plunging on controversy over fundamentals

As the country's leading bio companies are fluctuating in the stock market, analysts warn that it might be signaling the collapse of a bubble. They point out the market had been irrationally overheated over the past few months, with many companies claiming to be bio popping up and many investors betting on them without proper evaluation.

Finance | 2018-04-20 17:06

Peace treaty hype lowers 'Korea discount'

As South Korea works at turning an armistice with North Korea into a permanent peace treaty, local stocks are gaining momentum on expectations that the market will overcome the so-called “Korea discount,” or share undervaluation. The main KOSPI bourse closed at 2,486.1, up 0.25 percent from Wednesday, following a 1.07 percent gain the previous day.

Finance | 2018-04-19 16:27

Shinhan to use Amazon's AI technology

Shinhan Financial Group, the country's top financial holding group, said Thursday it has signed with U.S. retail giant Amazon to jointly develop online financial services.

Finance | 2018-04-19 15:56

Insurers' financial status worsens

The financial health of South Korean insurance companies deteriorated in the fourth quarter of last year, as the rise in interest rates and dividend payouts reduced their available capital, the financial watchdog said Thursday. The risk-based capital (RBC) ratio of 56 life and non-life insurers averaged 257.8 percent in the October-December period, down 6.3 percentage points ...

Finance | 2018-04-19 14:03

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Missile attack on Syria