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Fri, July 1, 2022 | 04:11
Gov't sets up ISD response team
The government will form a taskforce to counter investor-state dispute (ISD) cases filed by foreign investors such as U.S. private equity Lone Star and activist Elliot Management, according to the Ministry of Justice, Friday. The justice ministry will be heading the taskforce that consists of officials from the Office for Government Policy Coordination, the Ministry of Economy and Finance, the Ministry of Trade, Industry and Energy and the Ministry of Foreign Affairs.
Son Dam-bi named KOMSCO brand ambassador
Son Dam-bi, a singer and actress, has been named the brand ambassador of the state-run Korea Minting, Security Printing & ID Card Operation Corp. (KOMSCO), the company said Thursday. She will be attending KOMSCO's annual events and marketing campaigns to promote the company's products and services until April, 2020. Son debuted with her single “Cry Eye” in 2007, and hit the t...
Providing finance education to foreign workers
Cho Jong-hyung, right, head of the foreign exchange business division at KEB Hana Bank, poses with Kim Gyeong-jo, head of the Support Centers for Foreign Workers at the bank's office in Seoul, Thursday. The bank will offer financial education for foreign workers via its nationwide network of centers. Courtesy of KEB Hana Bank
PEF-backed Shinhan goes all in on investments
Shinhan Financial Group is gearing up to make more deals and invest in the capital market through its ties with domestic and global private equity funds (PEF), according to sources with knowledge of the situation. After becoming the country's biggest financial holding group by profits, assets and market cap, with IMM Private Equity joining its board, Shinhan Financial has “th...
Gov't to revise feasibility study for rural, city projects
The government will change the way its economic organizations measure and forecast demand for future infrastructure projects in cities and rural areas beginning next month. In a policy meeting Wednesday aimed at reviving the economy, Finance and Economy Minister Hong Nam-ki said such feasibility studies will be conducted via a dual-track system for metropolitan and rural area...
Opening fintech center
Financial Services Commission Chairman Choi Jong-ku, center, and Woori Financial Group Chairman Sohn Tae-seung, right, push a button with an entrepreneur to open Woori Bank's expanded center for fintech startups in Yeouido, Seoul, Wednesday. Sohn said Woori will invest 130 billion won in innovative companies. Courtesy of Financial Services Commission
National debt hits record high on increased public jobs
The outstanding national debt reached nearly 1,700 trillion won ($1.5 trillion) in 2018 due to the increased costs in paying the growing number of civil servants and soldiers, according to the Ministry of Economy and Finance, Tuesday. The total debt, which includes future payments for state bonds and pensions, increased 8.2 percent from 1,555.8 trillion won in 2017.
Celebrating foundation
Shinhan Bank CEO Jin Ok-dong, right, cuts a cake with his employees to celebrate the bank's foundation at its headquarters in Seoul, Monday. Jin said Shinhan should not only aim to become a leading bank but also an “inclusive one” that can help all people. Courtesy of Shinhan Bank
Seoul launches sandbox committee for innovation
The Financial Services Commission (FSC) has launched a committee consisting of experts and policymakers that will finalize the review of 19 fintech venture firms' business ideas and models this month, the regulator said Monday. About 100 startups and financial companies' venture teams, including those from KB Kookmin and Woori banks applied for the FSC's regulatory sandbox pr...
Data scientist Yoon named KB CDO
KB Financial Group has hired a data scientist who used to work for Samsung Electronics and Hyundai Card, the group said Monday. Yoon Jin-soo will be the holding group's chief data officer (CDO), who will also oversee the data operations and management of KB Kookmin Bank and KB Kookmin Card. Therefore, his other official title will be senior managing director of data strategy ...
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