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Tue, December 6, 2022 | 03:55
Falling exports to weigh on growth
The nation's exports are likely to suffer stagnant growth in 2019 on China's slowdown and downturn of the chip industry, private think tanks and analysts say, Sunday. Given that facilities investment and consumer spending have stayed in the doldrums, they said falling exports will further reduce economic growth of Asia's fourth-largest economy.
Lunch with new employees
NongHyup Bank CEO Lee Dae-hoon, third from left, talks with the lender's new employees during lunch at a restaurant in Buam-dong, Seoul, Friday. They exchanged views on digitization and economics. Courtesy of NongHyup Bank
KEB Hana, Arena forge ties in aircraft financing
KEB Hana Bank has forged a strategic alliance with Netherlands-based Arena Aviation Capital in commercial aircraft leasing and financing, the bank said Sunday. Under the partnership, KEB Hana will be able to introduce new airplanes for lease and management here through Arena Aviation, an aircraft investment management service provider. They said they have made a deal to launc...
Economy faces demographic shock amid low birthrate
The country's economy will soon start reeling from a demographic shock as the population will start to decline faster this year, according to a report by Statistics Korea, Thursday. This is because of two factors - the declining birthrate and superfast aging. The number of elderly people passing away is expected to exceed that of newborns beginning this year, the statistics a...
Who will take home internet bank license?
All bids for the country's third internet banking license are in for regulatory review. Three contenders have submitted their applications. One of them noted it is still in negotiations with potential investors to set up a consortium. Therefore, it still could pull out of the bid.
New Hana Card CEO Chang faces inevitable challenge
What are you going to do when you are facing all sorts of state restrictions in running your core business? At an internal forum at Hana Financial Group's headquarters in Seoul, KEB Hana Card's new Chief Executive Chang Kyung-hoon said the credit card company will need to stop being a card firm. It will have to be reborn as a totally different company.
Shinhan's job program in Vietnam
Shinhan Bank Vietnam CEO Shin Dong-min, front row second from left, poses with Vietnamese students who completed the bank's 10th job training program, Wednesday, at the bank's office in Ho Chi Minh City. The bank has been providing education in Korean language, computer programming and financial accounting over the past six years. Courtesy of Shinhan Bank
Shinhan, KOSCOM to build platform for foreigners
Shinhan Card and KOSCOM have joined hands to develop a multi-language financial mobile platform for 2 million foreign residents and investors living here, according to the credit card company, Wednesday. Shinhan Card is the biggest card firm by profit, and KOSCOM is a financial IT system developer of the Korea Exchange. The two companies' in-house venture teams will pursue th...
New Shinhan chief eyes digital nomads, Vietnam for growth
Shinhan Bank will change its organizational culture drastically to become a digital company and will further invest in Vietnam for growth, said Jin Ok-dong, its new chief executive, Tuesday. This means the bank will have to change the way it hires new employees, and secures and develops human resources with technological capacity. Toward that end, the bank needs experienced t...
Gov't spending expected to exceed W500 tril. in 2020
The government's budget for 2020 is expected to exceed 500 trillion won ($442 billion) as it seeks to revive the economy by focusing on revitalizing small- and medium-sized enterprises, startups and low-income households. This would be the first time for the annual budget to surpass the 500 trillion won level. In a meeting in Seoul presided over by Economy and Finance Ministe...