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Sat, December 3, 2022 | 14:27
Scholarships for students
Park Sang-yong, center, head of KB Kookmin Bank's corporate social responsibility, poses with junior and high school students after Kookmin Bank provided scholarships at the bank's headquarters in Seoul, Thursday. The funds will be used not only for their basic education but also their technological training. Courtesy of KB Kookmin Bank
Regulator hit for intervention, populist policies
A series of market interventions through regulations and policies is undermining both trust and confidence in the economy, according to analysts and industry sources. The regulators' recent measures aimed at cancelling some portion of debts held by low and middle-class households are raising concerns that such a move will create moral hazards. Also, the state-enforced reducti...
Gov't to expand Gwangju-Hyundai job model
The central government will use and expand a model by Gwangju City and Hyundai Motor aimed at boosting job creation across the country's provincial areas, according to the Ministry of Economy and Finance, Thursday. The ministry said the government will encourage regional offices to adopt and develop the model with companies of any size to open plants, create jobs and spur gro...
Income gap hits worst level on unemployment
The rich have become a lot richer, and the poor have become a lot poorer. The average monthly income of the bottom 20 percent group was 1.24 million won ($1,100) in the fourth quarter of 2018, down nearly 18 percent from a year earlier, according to the state-run Statistics Korea, Thursday. It also dropped 7 percent from the third quarter of last year.
Samsung Card chief faces make-or-break 2019
Samsung Card CEO Won Gee-chan is in a tight spot. The credit card company lost a Costco deal to Hyundai Card. It had one of the weakest profits among the card companies in 2018. Its weak profit has widened the gap with KB Kookmin Card, the No. 2 player after Shinhan Card.
Kookmin Bank opens first branch in India
KB Kookmin Bank has opened its first India branch in Gurugram, the bank said Tuesday. The Indian branch will work with its strategic partner, the Bank of Baroda, to offer various financial services to Korean companies already operating in and seeking to enter the region. Bank of Baroda is India's state-run bank headquartered in Vadodara, Gujarat.
Helping Myanmar children
Woori Financial Group Chairman Sohn Tae-seung, front row center, raises his fist with his employees at company headquarters in Seoul, Tuesday, before they depart for Myanmar. They will spend the next five days volunteering at Yankin Children Hospital in Yangon. Courtesy of Woori Financial Group
Shinhan, KB pumping up for nonbank deals
Financial groups are gearing up to make their next deals that can help boost their nonbanking businesses both at home and abroad. Backed by their expanded war chests, Shinhan, KB and Woori financial groups are aggressively seeking nonbank assets for acquisitions, according to those holding companies. Shinhan Financial has decided to issue convertible preferred shares to raise...
BC food truck in the Philippines
BC Card employees pose with locals after completing their overseas charity mission in Leyte, the Philippines, Feb. 17. The card firm's volunteers provided a food truck catering for Amandangay elementary school students in the region from Feb. 12 to 17. Courtesy of BC Card
Woori chief buys shares to boost value
Woori Financial Group debuted on the stock market weaker than expected on Feb. 13, and closed the week at below the value of Woori Bank Group previously traded on the main bourse. This is in spite of Woori Financial Group Chairman Sohn Tae-seung buying 5,000 more Woori Financial shares and Woori Bank Group posting record earnings. Sohn now has 43,127 shares.