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Reporter : Anna J. Park
Fri, December 8, 2023 | 04:47
Toss Bank launches simpler, safer 'jeonse' deposit loans
Toss Bank, one of Korea's three internet-based banks, launched a housing rental deposit loan product on Tuesday, aiming to innovate the country's cumbersome and complicated rent system.
Kakao's financial affiliates make foray into Thai market
Kakao's financial subsidiaries are making their successful first foray into the Thai market, after choosing Thailand as the main target country of their overseas business expansion. Kakao Pay began providing its payment services in the country last week, following KakaoBank's partnering with Thailand's leading financial group in June to pursue a virtual banking license there.
Samsung Electronics stock price soars on foldable phones, AI chips
The stock price of Samsung Electronics has been on the rise for two consecutive trading sessions, following news of its supply of high-bandwidth memory product HBM3 to Nvidia. The stock price of the Korean tech giant ended at 71,200 won ($53.96) on Monday's closing, a 0.28 percent increase from Friday's session, continuing its upward trend since Friday.
BNP Paribas continues to back women in Korean film industry
BNP Paribas Korea's Territory Head Aymar De Liedekerke Beaufort, right, presents the “BNP Paribas Asian Shorts Award” to winners during the closing ceremony of the Seoul International Women's Film Festival (SIWFF) at Sangnam Megabox in Seoul, Wednesday. BNP Paribas has been an official sponsor of the SIWFF since 2019. Courtesy of BNP Paribas Korea
Savings banks suffer earnings declines in Q2 due to higher costs
Major savings banks saw earnings nosedive in the second quarter of this year compared to the same period of 2022 due to soaring costs stemming from rising interest rates.
CFD trading to partially resume with tighter regulations from September
Local securities firms will partially resume contract for difference (CFD) trading from September, while financial regulations will be strengthened to prevent stock manipulation schemes utilizing the derivative products. A CFD is a high-risk leveraged derivative contract that allows speculation on short-term market movements, without having to own real assets.
Woori Financial Group on track for carbon neutrality by 2050
Woori Financial Group announced, Thursday, that it obtained approval from the Science Based Targets initiative (SBTi) for the group's mid- and long-term carbon reduction targets. SBTi is a global body that partners with various international organizations, including the Carbon Disclosure Project (CDP), World Resources Institute (WRI), the World Wildlife Fund (WWF) and the Uni...
Korea Fintech Week 2023 brings financial giants and startups together
Korea's fintech sector will be strengthening partnerships with major financial groups, seeking win-win strategies in an accelerated digital transformation era. While fintech enterprises can spur the development of traditional financial giants by providing innovative business-to-business (B2B) models, fintech venture firms' ingenious services will also reach a wider number of ...
COVID-19 special loan repayments on track for 'soft landing'
Massive amounts of special loans and benefits granted to small and medium-sized enterprises (SMEs) and mom-and-pop businesses during the COVID-19 crisis are on a stable path to repayment, according to the top financial regulator.
KDIC resumes M&A process of MG Non-Life Insurance
The Korea Deposit Insurance Corporation (KDIC) has officially kicked off the M&A bidding process for MG Non-Life Insurance this week. Samjeong KPMG, the lead sale manager of the deal, plans to receive Letter of Intent (LOI) submissions by potential buyers by Oct. 5 in order to select preliminary bidders.