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Wed, December 7, 2022 | 00:24
FSS faces criticism for Hana intervention
The Financial Supervisory Service (FSS) is coming under criticism for intervening in Hana Financial Group in an apparent move to block it from reappointing Ham Young-joo as KEB Hana Bank chief executive. The regulator did not deny that it approached three outside directors of Hana Financial who are part of a committee that reviews and recommends candidates for the bank's top ...
Tourism, builder stocks rise on hopes of Korean peace
Shares in tourism and construction are expected to rally further in the short term on the hopes of peace and better economic ties between the two Koreas following the U.S.-North Korea summit in Vietnam, analysts said Wednesday. Yongpyong Resort, Ilshin Stone and Daeati are among stocks traded on the benchmark KOSPI and tech-heavy KOSDAQ that have attracted a growing number of...
Sponsoring skiers
Shinhan Financial Group Chairman Cho Yong-byoung, left, and Korea Ski Association President Kim Chee-hyun hold a contract at the group's headquarters in Seoul, Wednesday, in which Shinhan agreed to financially support competitive skiers ahead of the 2022 Beijing Winter Olympics. The group has backed the association since 2015. Courtesy of Shinhan Financial Group
Woori Bank forges ties with Bangladesh startups for digital banking
Woori Bank's Bangladesh branch has forged ties with two of that country's biggest players in digital finance as part of efforts to enter into the region's retail banking market, according to the Seoul-based bank, Tuesday. Under the partnership, the flagship bank of Woori Financial Group will seek close cooperation with Bankcomparebd and bKash to offer customer-tailored servic...
Housing market likely to continue downward spiral
The local housing market is likely on course for a further downturn as an index measuring consumer sentiment on this has hit a record low. The falling confidence came as the sales of apartments have nearly frozen following stronger real estate measures.
Financial CEOs to visit Cambodia, Malaysia
Some chiefs of local financial groups are considering joining executives of nonfinancial companies for a trip to Southeast Asian countries, including Cambodia and Malaysia in mid-March, according to industry sources. Details of the travel itinerary have not been fully disclosed yet, however, the Korea Chamber of Commerce and Industry (KCCI) and the Korea International Trade A...
Regulator urges groups to open interface for fintechs
Financial Services Commission (FSC) Chairman Choi Jong-ku has urged the heads of local financial holding companies to further open and make their interface systems available not only for each other's banks, but also financial technology startups. The regulator said Monday it wants to have their systems interconnected and accessible for fintech startups in an effort to increas...
BLACKPINK to promote Woori Bank
K-pop girl group BLACKPINK has signed a contract to represent Woori Bank's products and services, according to the bank. The four-member group debuted in August 2016 with their album “Square One.” Their song “Whistle” from the album became the fastest in history to hit the top local charts since a girl group's debut.
Strategic partnership in asset management
Shinhan Financial Group Cho Yong-byoung, right, and IMM Private Equity CEO Song In-jun, hold a contract in which the IMM fund agreed to buy convertible preferred stock worth 750 billion won to be issued by Shinhan at the group's headquarters in Seoul, Monday. As Shinhan's strategic partner, IMM will help it strengthen asset management. Courtesy of Shinhan Financial Group
Korea, Iran's Dayyani to face long legal battle
The country's regulator and an Iranian investor are expected to face a long legal battle over a dispute involving a business deal for Daewoo Electronics nine years ago, industry sources say. Iran's Mohammad Reza Dayyani, the owner of Entekhab Industrial, gained approval recently from a Netherlands court to seize assets of Korean companies operating in the Netherlands, includi...