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Sat, December 3, 2022 | 14:03
Promoting information protection
NongHyup Financial Group Chairman Kim Gwang-soo, left, and NongHyup Bank CEO Lee Dae-hoon, second from left, hand out leaflets on information protection to their employees on their way to work in Seoul, Monday morning.
Cambodia, Korea partner in banking
Korea Federation of Banks (KFB) Chairman Kim Tae-young, fifth from right, and Bun Yin, vice chairman of the Association of Banks in Cambodia (ABC), fifth from left, hold their bilateral agreement on education at ABC's headquarters in Phnom Penh, March 15. ABC will support Korean bankers entering Cambodia, and KFB will provide education on financial technology to Cambodian ban...
KB forges ties with Cambodian fintech Pi Pay
KB Kookmin Bank Cambodia has forged an alliance with Pi Pay in digital banking in Phnom Penh, according to KB in Seoul, Sunday. The two sides will seek to connect their respective platforms not only to offer convenient mobile payment services, but also to develop new financial products for local customers. Pi Pay is Cambodia's biggest mobile payment company with over 250,000 ...
Hong faces grilling over economic policies
Finance Minister Hong Nam-ki is expected to face questioning by opposition lawmakers as he briefs them on his ministry's key plans for this year. Lawmakers will question President Moon Jae-in's second finance minister and his team on whether Hong has achieved tangible results since he took office 100 days ago, still given the weak job data and worsening inequality. Hong was a...
Moon criticized for parachuting officials into private companies
President Moon Jae-in's administration is facing growing criticism for allegedly “parachuting” his former assistant secretaries into private financial companies as senior executives. Han Jung-won, a former assistant secretary for political affairs, was recently named the head of brand strategy at the Meritz Financial Group, a mid-tier holding company. She is expected to overs...
Hyundai Card provides IT system to Japan's Exa Systems
Hyundai Card will provide its IT system for credit card transactions to Japan-based EXA Systems, an IBM subsidiary, according to the card company, Thursday. The Japanese company will be using Hyundai Card's Hyundai-Advanced Library Card Information System (H-ALIS) to further develop the former's card infrastructure. The partnership is in line with the Japanese government's ef...
Self-service banking kiosk
Industrial Bank of Korea (IBK) CEO Kim Do-jin tries out the bank's digital banking kiosk at its branch near the Seolleung Subway Station, Wednesday. With voice recognition, customers can use the kiosk to open accounts, receive check cards and change their passwords. Courtesy of IBK
Unemployment hits 2-year high on manufacturing downturn
The number of people who have lost or can't find jobs remained above 1 million in February, according to Statistics Korea, Wednesday. This is because manufacturers are letting go of employees, and are still reluctant to invest amid lingering uncertainties over the government's labor policy, say local analysts. However, the country may have created 263,000 jobs last month comp...
IMF warns of growing headwinds to Korean economy
The country's fiscal and monetary policymakers should execute a large extra budget and easy money policy in the face of slowing growth amid weakening exports, a group of economists from the International Monetary Fund (IMF) said Tuesday. Even though the economy remains fundamentally strong and resilient, the IMF mission recommended the Bank of Korea (BOK) to look into the pos...
HSBC seeks Korean banks for blockchain ties
HSBC is seeking to forge ties with local banks to launch a blockchain platform enabling companies to process and settle their invoices for trade efficiently, according to the global bank, Tuesday. It is looking to commercially launch the Voltron platform, which is in a pilot stage, in the near future as the bank expands its alliances with banks and tech companies, said Joshua...
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