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Sat, September 23, 2023 | 19:01
Hyundai Capital, Santander launch joint venture in Brazil
Hyundai Capital and Spain-based Santander Group have launched a joint venture in car financing in Brazil, the financial arm of Hyundai Motor Group said Wednesday. The venture will be named Banco Hyundai Capital Brasil with an equity capital of $81 million. Hyundai Capital and Santander Brasil each hold a 50 percent stake in the entity, which will be “the exclusive” consumer a...
Supporting social ventures
HSBC Korea CEO Jung Eun-young, second from right, and Mark Mckeown, chief risk officer of HSBC Asia Pacific, center, pose with entrepreneurs at the HSBC Korea office in Seoul, Wednesday. HSBC Korea has launched its second venture program to support social enterprises. Courtesy of HSBC Korea
Asiana rallies higher on sales plan
Asiana Airlines continued to rally on expectations that its sales plan will be formed soon by its creditors led by the state-run Korea Development Bank (KDB), analysts said Tuesday. The debt-laden carrier closed up 16.07 percent at 8,450 won ($7.44) Tuesday, surpassing its 52-week high of 7,280 won.
Financial chiefs looking for clues in Silicon Valley
The heads of local banking groups are increasingly looking abroad, especially at Silicon Valley in the United States, to find some “clues and hints” to realize and materialize their digital businesses, according to industry sources. Currently, Shinhan Financial Group Chairman Cho Young-byoung and KB Financial Group Chairman Yoon Jong-kyoo are in the U.S. innovation hub, atten...
Weekend services for foreign workers
Employees and foreign customers of Shinhan Bank's Gimhae branch in South Gyeongsang Province cut a tape to open its services for foreign workers, Sunday. The branch will offer services such as overseas wire transfers and credit card issuances even on Sundays. Courtesy of Shinhan Bank
Gov't to draw another measure for economy
The Ministry of Economy and Finance will soon draw and implement another measure for local exporters to revive the economy, Finance Minister Hong Nam-ki said in Washington, D.C., Saturday. The move comes amid growing fears that the already sagging Korean economy could bear the brunt of the global slowdown. Hong told reporters on the sidelines of the G20 finance ministers' mee...
Shinhan chief heads for IR roadshows
Shinhan Financial Group Chairman Cho Yong-byoung has left for investor roadshows (IR) in Toronto and San Francisco to meet with and attract potential institutional investors, the group said Sunday.
Shinhan expands startup center for financial innovation
Shinhan Financial Group has launched a new startup program inside the group's expanded Shinhan Future's Lab, a center for fintech entrepreneurs, the group said Thursday. Shinhan Chairman Cho Yong-byoung said at the Lab's opening ceremony that the group will not only increase its investment in startups, but also the program will offer a “full ecosystem service.” Forty startups...
KB boosts capital base before making deals
KB Financial Group will issue hybrid bonds worth 400 billion won ($350 million) in May to increase its capital base in an effort to “better take care of and manage” its capital adequacy ratio, said a source with knowledge of the situation. It is analyzing demand for the bonds that hold a characteristic of equity and debt from potential institutional investors. The group's fun...
KakaoPay could face setback in acquiring Baro
KakaoPay has submitted its application to the Financial Services Commission (FSC) for approval of its acquisition of a 60 percent stake in Baro Investment & Securities, the mobile payment service provider said Wednesday. However, the company is facing market doubts that it will be able to gain immediate approval given that Kakao's owner Kim Beom-su is on trial for allegedly b...