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Fri, August 19, 2022 | 01:45
KEB Hana joins global blockchain consortia
KEB Hana Bank has joined two global consortia - Hyperledger and Enterprise Ethereum Alliance - that promote research and development of distributed financial ledgers through blockchain technology, the bank said Tuesday. The two are renowned groups with more than 200 members both from the finance and technology sectors, including IBM, Intel, JP Chase Morgan and BBVA. In April ...
Barriers lowered for SME investors
The financial regulator will move to lower entry barriers for professionals and investors seeking to set up brokerages or investment management companies to mainly invest in small- and medium-sized enterprises (SME) and tech startups. In a meeting with AHA information & Communication, an electronic board maker, in Gimpo, Gyeonggi Province, Monday, Financial Services Commissio...
Strategic ties in Thailand
Hong Jang-eui, third from left, head of KEB Hana Card's global business, and Centara Hotels & Resorts CEO Thirayuth Chirathivat, fourth from right, pose for a photo with other executives from the two sides after forging strategic ties in Bangkok, Thailand, Monday. Hana cardholders will be able to enjoy up to a 30 percent discount when dining and staying at the Thai resort...
Debate over stock trading tax resurfaces
Politicians and policymakers are again locked in a heated debate on whether to abolish the country's 0.15 percent tax imposed on KOSPI stock trading. This comes as Financial Services Commission (FSC) Chairman Choi Jong-ku told reporters after holding a Jan. 16 meeting with fintech startups that talks regarding the issue will “start really soon.” This is because the ruling Dem...
JP Morgan Chase, HSBC, Deutsche Bank, SC fined for forex rigging
The antitrust regulator has fined four global banks for illegally sharing information and colluding in price bids to win foreign exchange derivatives contracts from companies, according to the Fair Trade Commission (FTC), Sunday. Those companies or exporters launched the bids to tap investment banks that can help them hedge risks against currency swings and volatility through...
Best achievement award goes to Dongtan
Shinhan Bank CEO Wi Sung-ho, second from left, raises a trophy with sales employees of the bank's Dongtan New Town branch after awarding them for achieving the best regional performance at an event in Seoul, Saturday. The bank held a comprehensive management review of 10,000 employees. It has held the event every year since 1984. Courtesy of Shinhan Bank
Korea faces 'tax dilemma' amid slowdown
Korea is confronted with a “tax dilemma” in the face of an economic slowdown on falling private investment. Worsening economic data here has been putting pressure on President Moon Jae-in and his administration to rethink its high corporate tax policy. Many major economies, including the U.S., have been doing well as a result of the policies of cutting taxes and releasing the...
SC Korea gets capital injection
Standard Chartered (SC) Bank Korea has received a capital injection worth 100 billion won from its parent company based in London, the Seoul unit said Thursday. The multinational banking group, SC Group, will invest 600 billion won in 10-year bonds issued by SC Bank Korea, offering a precondition of paying 500 billion won in semiannual dividends. This marks the first time SC ...
Gov't to create ecosystem for digital economy
Finance Minister Hong Nam-ki has vowed to revitalize the economy by creating a digital market where startups and big companies freely use big data and artificial intelligence technologies. His pledge came as he extended President Moon Jae-in's request to the heads of local business-interest groups for close cooperation in carrying out this year's key projects and initiatives ...
Seoul mulls opening portal for foreign investors
The Korea Exchange (KRX) is considering developing a portal for foreign investors seeking corporate information in English before deciding to invest in local shares, according to the stock market operator, Tuesday. This comes as the capital market lacks a system enabling easy access to such information in English. “A related department is considering such a move. The idea for...
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