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Fri, August 19, 2022 | 03:00
Golden time to spur fintech: FSC chief
The Financial Services Commission (FSC) will rapidly move to further ease rules and revise laws governing nonbanks and startups developing and commercializing financial technologies and services. In a meeting with fintech companies at a startup center in Seoul, Wednesday, FSC Chairman Choi Jong-ku said this was the “golden time” for the industry to lead a change in finance th...
Helping foreign laborers
Kim Hak-joo, second from left, president of The Bank, an alumnus club for former Shinhan Bank workers, donates 5 million won to Good Shepherd Sisters, an international religious institute founded by Saint Mary Euphrasia in the 19th century, at the Sisters' office in Seoul, Wednesday. The donation will be used to support foreign laborers and elderly homeless people. Kim previo...
Weaker dollar to further slow economy
The dollar is expected to keep losing ground this year amid a weak outlook for both the global economy and the world's largest economy, analysts said Tuesday. This will further put the export-driven Korean economy on the spot given that a stronger won will lower the price competitiveness of its products. The global key currency's shift toward further weakness began after form...
Foreign banks rule Korean firms' overseas funding
Foreign investment banks have once again dominated in underwriting bonds for local companies seeking to raise capital overseas. The top 10 bond underwriters for local companies in 2018 were all foreign investment banks, with HSBC coming in first, followed by Citigroup Global Markets and Credit Agricole, according to data by Bloomberg, a financial data and news provider. Other...
Woori eyes nonbanks for acquisitions
Woori Financial Group will aggressively pursue acquisitions of nonbanking firms such as asset management, real estate management and mutual savings banks to beef up its size and scale to compete with other groups, said Sohn Tae-seung, the group chairman. Woori has restored its financial holding company structure after four years. It celebrated the launch Monday. Sohn is also ...
Supporting figure skaters
KB Financial Group General Manager Moon Seung-chul, right, donates 50 million won to the Korean Skating Union at an ice rink in Mokdong, southwestern Seoul, Monday. The donation will be used to help pay for local figure skaters' school tuitions. The group has been supporting figure skaters since 2006 when it started to back Olympic gold medalist Kim Yuna. Courtesy of KB Finan...
Investment banker Shin named Taurus chief
Shin Jong-ho, a former head of investment banking at Meritz Securities, has been named the new chief executive of Taurus Investment & Securities, according to the brokerage. His appointment in late December follows DS Networks' acquisition last October of the small securities company from Taurus founder Sohn Bok-jo. DS Networks is a real estate developer established in 1969. ...
Learning about global stocks
Korean junior high school students, who participated in Mirae Asset Global Investments' financial education program, pose in front of a statue of a bear and a bull near China's Shenzhen Stock Exchange, Friday. The asset manager held the four-day tour course to teach them about the global financial system. Courtesy of Mirae Asset Global Investments
Card issuers getting 'lean and mean'
Some credit card companies have begun procedures to cut back on anything they can in preparation for tough times ahead. As they expect inevitable losses stemming from state-enforced reductions in card transaction fees, industry sources say they have no choice but to get “lean and mean.”
Gov't to 'tweak' economic policies for innovation
President Moon Jae-in said Thursday the government will “tweak” some of its policies that have negatively affected small businesses and the self-employed. In his New Year press conference at Cheong Wa Dae, Thursday, the President said his new team of economic advisers led by the finance minister will implement a policy spurring innovation to revitalize manufacturing. His “sli...
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