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Fri, September 29, 2023 | 09:37
Shinhan regains throne as top financial group
Shinhan Financial Group has overtaken KB Financial Group in terms of net profit, regaining the top spot after just a year, posting record earnings in 2018. Shinhan Financial, now the country's No. 1 financial holding company, posted a consolidated net profit of 3.16 trillion won ($ 2.81billion) in fiscal 2018, up 237.9 billion won, or 8.2 percent, from the year before, the gr...
Will Shinhan launch third internet bank?
Shinhan Financial Group has forged a partnership with Viva Republica to form an internet bank, the holding company said Monday. The group is currently establishing a consortium, which will invite other potential financial and strategic investors for the envisioned bank. Viva, a startup that launched Toss, a peer-to-peer mobile payments platform, will be one of Shinhan Financi...
Meeting with next World Bank chief
Finance Minister Hong Nam-ki, left, shakes hands with David Malpass, the undersecretary for international affairs at the U.S. Department of Treasury, ahead of their meeting at the Central Government Complex in Seoul, Monday. President Donald Trump recently nominated Malpass for World Bank president. Hong and Malpass discussed ways to boost collaboration between the World Bank...
IBs slash Korea's growth on falling exports
Some global investment banks have lowered the country's growth forecast for this year further amid falling exports, according to the Korea Center for International Finance, Sunday. Credit Suisse, Barclays and UBS have revised down their projections by 0.1 percentage point as they expect sluggish exports and corporate investment will weigh on the economy. Credit Suisse project...
KB faces threat of losing to Shinhan
KB Financial Group is facing a threat of losing its leadership to Shinhan Financial Group as the former holding company posted weaker-than-expected profit in 2018. KB Financial's consolidated net profit reached 3.07 trillion won ($2.7 billion) last year, down 242.5 billion won, or 7.3 percent, from the year before, according to the group. The group has managed to achieve over...
Engel's coefficient rises on inflation
A 45-year-old Shin who works for a tech company comes home after work and often watches variety shows featuring celebrities eating out at the best restaurants. This makes him sometimes order food via mobile platforms, or buy ingredients with his wife to cook the meals featured on the shows, or even to eat out at similar eateries.
Becoming regular workers
Woori Card CEO Jeong Won-jai, center, and employees, who used to be irregular workers, raise their fists after the company hired them as regular workers at its headquarters in Seoul, Feb. 7. The company has changed the status of 180 short-term, temporary workers to full-time employees. Courtesy of Woori Card
Will Jeonju be third financial center?
Jeonju, North Jeolla Province is drawing attention on whether the city will be named and developed as the country's third financial center. The Financial Services Commission (FSC) said Thursday that it is currently reviewing a research paper by the Korea Institute of Finance (KIF), analyzing the economic viability of Jeonju.
Shinhan named best financial brand
Shinhan Financial Group has been named the nation's best financial brand by The Banker, a financial news magazine, according to the holding company, Thursday. The Banker names 500 global financial brands every February, in partnership with Brand Finance, a brand consulting agency. The magazine surveys 1,000 financial companies by looking at their financial statements, brand c...
Providing school materials
NongHyup Bank CEO Lee Dae-hoon, back row center, waves with children at an elementary school in Ho Chi Minh City, Vietnam, Feb. 1. NongHyup's Ho Chi Minh City branch, which opened in November 2018, provided stationery, televisions and clothes to the school. Courtesy of NongHyup Bank