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Sun, May 29, 2022 | 14:24
Hyundai Capital issues W300 bil. green bonds
Hyundai Capital has raised 300 billion won ($260 million) by issuing won-denominated bonds from a group of institutional investors, the automobile financing company said Thursday. The funds will be used to extend loans and leases to customers seeking to purchase Hyundai Motor or Kia Motors' electric, hydrogen and hybrid vehicles. This marks the first time for a local financia...
Shinhan joins Honors Club for tackling climate change
Shinhan Financial Group has been accepted again by the Carbon Disclosure Project's (CDP) Carbon Management Honors Club due to its positive track record in dealing with climate change, the bank said Wednesday.This marks the group's fifth consecutive year to be part of the CDP Club. Shinhan is the only local financial company to have joined the Honors Club.
Extra budget unlikely to provide impetus for growth
A 6.7 trillion won ($5.8 billion) supplementary budget proposed by the government is not expected to provide the impetus needed for economic growth, according to analysts. However, they said it will prop up the economy by 0.1 percentage points, less than initial expectations when the International Monetary Fund (IMF) suggested a 9 trillion won extra budget. The lukewarm react...
Asiana Airlines gets W1.6 trillion capital injection
The government has decided to inject 1.6 trillion won ($1.4 billion) into Asiana Airlines to provide a lifeline to the debt-ridden company, Finance Minister Hong Nam-ki said Tuesday. “Creditors led by the state-run Korea Development Bank (KDB) will help increase the company's capital base and resolve its liquidity problems,” Hong said in an economy-related meeting in Seoul.
Shinhan develops AI secretary for workers
Shinhan Bank is developing an artificial intelligence-based (AI) virtual assistant chatbot program for its employees, the bank said Tuesday. The assistant will be their “personal secretary,” helping employees search, file and organize documents, enabling them to boost their productivity and efficiency, it added. “We are currently developing the AI secretary at the moment,” sa...
Strategic partnership
Lee Chan-hong, right, head of Shinhan Card's platform business, poses with Skyscanner Asia CEO Mike Ferguson after forging a partnership at the credit card's office in Seoul, Tuesday. Under the agreement, Shinhan Card users can search for airline tickets offered by Skyscanner via the Shinhan PayFAN mobile platform. Courtesy of Shinhan Card
[Macro Today] Make aging population resourceful for economy
A superfast aging population - is it a curse or predetermined destiny for the economy? Every month or every other week, people hear and read news about the country that is about to face darker days ahead because of the rising elderly population. Throw in data of the elderly poverty rate, which is the highest among the OECD members, and it just gets more depressing, as if Kore...
Shinhan Card users can shop at Amazon in Korean
Shinhan Card's mobile platform PayFAN has connected with Amazon.com, enabling its customers to use and surf the e-commerce giant's site in Korean, the credit card company said Friday.
'Korea's not considering redenomination'
The government is not considering reducing the face value of the Korean won, Finance Minister Hong Nam-ki said Thursday. “The administration has not considered currency redenomination,” Hong told reporters in Paju, Gyeonggi Province, while visiting small- and medium-sized enterprises. Also, Bank of Korea (BOK) Governor Lee Ju-yeol said after holding his monetary policy meetin...
Regulator uses big data to boost consumer protection
The country's financial regulator will use advanced technologies such as big data to pre-emptively counter and prevent companies from marketing false information about their products and services, Financial Services Commission (FSC) Chairman Choi Jong-ku said Thursday. He stressed that the stronger ecosystem and big data would ensure consumer protection. “We will use big data...
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