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Finance

Mon, August 8, 2022 | 08:01

Hana Financial Group partners with SK Telecom in finance, ESG

Hana Financial Group has clinched a strategic partnership with SK Telecom to develop new business models in finance that use state-of-the-art technologies. Both companies exchanged shares worth 400 billion won ($305 million), as part of their first step to carry out a broader range of joint projects, they said Sunday, amid the government's push for policies that increasingly ...

Lee Min-hyung | 2022-07-24 15:32

Prosecutors raid Terraform's parent firm in probe into Luna-Terra crash

Prosecutors have raided the parent company of Terraform Labs as part of a broadening investigation into the massive collapse of the firm's Luna and TerraUSD cryptocurrencies, sources said Sunday.

2022-07-24 10:50

KB, Shinhan, Woori post record net profits in 1st half of year

Three of the country's major banking groups posted record net profits in the first half of this year on the back of robust interest payments. The country's top banking group, KB Financial Group, still leads Shinhan Financial Group in its earnings for the first half of the year, while it fell into second place behind the latter in its performance for the second quarter.

Yi Whan-woo | 2022-07-22 17:52

Seoul High Court sides with Woori Financial chief over FSS reprimand

As Woori Financial Group Chairman Son Tae-seung won the appeal case in his legal battle against financial authorities' punitive measures on Friday, he has now cleared a major obstacle standing in the way of him possibly assuming another term as chairman.

Anna J. Park | 2022-07-22 17:16

Why does sale of Mom's Touch attract more attention than peers?

While most of the major burger franchises in Korea are also currently up for sale in the M&A market, local chicken burger franchise Mom's Touch is drawing the most attention from potential buyers for its superior profitability. The local burger franchise business has been posting better operating profit rates than its main competitors ― the Korean operation units of McDonald'...

Anna J. Park | 2022-07-22 15:58

Producer prices grow for 6th month in June on high energy, service costs

Korea's producer prices gained for the sixth straight month in June, driven by rising prices of oil, coal and services, central bank data showed Friday.

2022-07-22 09:37

Korea to expand tax incentives for highly-skilled foreign engineers

The government will extend a 50-percent cut on income taxes for highly-skilled foreign engineers to 10 years from the current five years in a bid to attract more talented workers from abroad and encourage such people to stay longer amid growing concerns of a population decline. The government will also offer a flat income tax rate of 19 percent for foreigners who work in Kore...

Yi Whan-woo | 2022-07-21 17:05

KB Financial publishes ESG management practices report

KB Financial Group has published its annual report on its ESG management practices, covering the topics of: inclusiveness, responses to climate change and sustainable finance. The report in particular states the financial group's detailed principles for ESG-based management with a vision for coexistence. According to the report, KB Financial Group has set out its long-term st...

Anna J. Park | 2022-07-21 16:46

Banks bemoan gov't pressure to support vulnerable

Commercial banks are crying foul over the government's demand that they reduce their interest rates for loans and offer debt relief for financially vulnerable people here, as the brunt of these policies will be borne by the lenders, financial industry sources said, Thursday. With the latest decision by the Financial Services Commission (FSC), the government will set up what i...

Lee Min-hyung | 2022-07-21 16:40

Hyundai Oilbank drops IPO plans amid stock market doldrums

Hyundai Oilbank has dropped its plan to go public in the latter half of this year, as it is unlikely to receive a proper valuation from the market amid the ongoing stock market slump here. “We decided to withdraw our planned initial public offering (IPO) at a time when we are facing tough market circumstances, which means we cannot be properly valued despite our solid earning...

Lee Min-hyung | 2022-07-21 16:35

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