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Wed, March 29, 2023 | 16:27
Will KB be 1st bank to set foot in other industries?
Financial authorities are set to decide on Thursday whether to grant formal approval to KB Kookmin Bank's mobile phone services, despite opposition from local carriers. If approved, this would be the first instance of a bank being allowed to expand into other industries.
[INTERVIEW] Can art become stable investment source?
If you could invest $10 for a chance to own a portion of a painting by Yayoi Kusama, one of the most important Asian artists in the contemporary art world, would you do it? For many young art lovers in Korea, the answer is a resounding yes.
Over 1,000 financially vulnerable Koreans apply for new emergency gov't loans
On Tuesday morning, a man in his 60s sighed as he pressed the button for the elevator in front of the Korea Inclusive Finance Agency in Seoul. Looking exhausted, he was holding several documents received during a consultation with the agency. He had just applied for an emergency loan offered by the government.
Internet-only banks urged to keep innovating
In 2017, the Korean government approved the launch of internet-only banks, aiming to boost competition in the industry and increase customer convenience. As five years have passed since then, it is time to ask, “Have internet-only banks successfully played their expected roles?”
Banks at loss over regulator's demands contradictory to upcoming key rate hike
While banks are announcing plans to lower interest rates on loans one by one following visits by the top financial regulator, concerns are being raised that the “pressure” on the banks to lower interest rates contradicts the recent key interest rate hikes and possibly more rises in the future.
KB Financial fails again to appoint outside director endorsed by labor union
An outside director nominee endorsed by the labor union of KB Financial Group was once again unsuccessful in securing enough votes at the general shareholders meeting. The nominee in question, Lim Gyeong-jong, was rejected as an outside director at the general shareholders meeting held at KB's headquarters in Seoul, Friday. He previously served as the head of Koexim Mandiri F...
New chairman takes helm of Shinhan vowing to spearhead growth
Jin Ok-dong, a former CEO of Shinhan Bank, officially took the helm of Shinhan Financial group and started his tenure on Thursday, according to the financial company. He will serve in the position until March 2026.
Indonesian students advise Korean bank on entering Indonesian market
“Team Garuda, semangat (good luck)!” Four Indonesian college students shouted enthusiastically when they landed in Korea in November 2022 to participate in a debate competition hosted by KB Financial Group. Named KB Solveathon, the event pitted 64 college students - 60 Koreans and the four Indonesians - in competition against each other to come up with a potential strategy fo...
Korea sets record of half million economically inactive youth
Almost half a million young people between the ages of 15 and 29 were economically inactive without searching for or preparing to get a job last month, data showed. The number of young people taking time off has been increasing each year as more give up looking for work.
Could Doosan Robotics be valued at 1 trillion won in IPO?
As the robotics industry enjoys an upswing in the market, all eyes are on Doosan Robotics and whether it could be Korea's next trillion-won valued company. According to investment bank industry sources, the number one co-robot producer in Korea is preparing to go public this year. It has designated Mirae Asset Securities and Korea Investment & Securities as its lead underwrit...
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