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Tue, September 27, 2022 | 23:39
Supporting 'agritech' startups
NongHyup Bank CEO Lee Dae-hoon, right, holds up an agreement with Han Tae-sik, president of Dongguk University, at the school campus in Seoul, Thursday. Under the accord, the bank will support the university's students seeking to launch startups in rural areas using bio, nano and agriculture technologies. Courtesy of NongHyup Bank
Mirae Asset to launch private equity funds in China
Mirae Asset Investment Management in Shanghai has secured a license from the China Securities Regulatory Commission (CSRC) that will enable it to launch a private equity fund in China's capital market, according to Mirae Asset Global Investments in Seoul, Wednesday. The “private fund management” license allows a wholly foreign owned enterprise (WFOE) to set up and market fund...
Help finding jobs
KB Kookmin Bank CEO Hur Yin, right, holds up an agreement with Education Minister Yoo Eun-hae at a job fair hosted by the bank in Songdo, Incheon, Wednesday. Under the agreement, the lender will support students to find jobs after graduation via various programs and events. Yonhap
AI algorithm developed to prevent 'smishing'
The Financial Supervisory Service (FSS) has developed an algorithm using artificial intelligence technology to help prevent financial scams sent via short message services (SMS). The regulator said Tuesday that it has developed the algorithm with KB Kookmin Bank and Amazon Web Services over the past eight months in an effort to boost customer protection. It can identify whether text messages customers received on their smartphones are a threat, or smishing - a combination of SMS and phishing.
Using best ideas
Hana Capital CEO Yoon Kyu-seon, right, congratulates winners of the company's contest on ways to eliminate customer inconvenience at its Gangnam office in Seoul, Monday. The company received 160 ideas during the competition and used 20 of them to improve its services after it selected the top 50 ideas. Courtesy of Hana Financial Group
Finance minister nominee to face grilling over income growth
Nominee for finance minister Hong Nam-ki is expected to face an intense grilling from opposition lawmakers over President Moon Jae-in's key economic policies during his upcoming confirmation hearing. After documents were submitted to the National Assembly, Nov. 16, requesting the hearing, it has to take place within 20 days. This means lawmakers must complete it by the first ...
[INTERVIEW] K bank to go into 'expansion mode'
K bank may have operated conservatively since it was launched two years ago.“But that's about to change on January 17, 2019,” said Shim Sung-hoon, the chief executive of the country's first internet bank, in an interview at his office in Seoul, Nov. 14.That is when the revised banking law goes into effect, allowing K bank to issue “a lot of new shares” for KT, the country's l...
Promoting young Woori
Woori Bank CEO Sohn Tae-seung, fifth from left in the second row, holds up a two-finger V sign for victory with college students at its Seoul heaquarters, Nov. 16. The lender chose 60 students to help it promote Woori as a “young bank” over the next five months. Courtesy of Woori Bank
Debate heats up over dual-class share structure
The debate on whether the capital market should allow companies here to adopt a dual-class share structure has been rekindled amid a growing number of short-term investors entering Korea. The country has maintained equal voting rights, or the “principle of one share, one vote” so far. This means investors or shareholders are entitled to exercise their power and control based ...
Calls grow to open probe into Samsung C&T
Politicians and civic groups are calling on the country's financial regulator to open an investigation into Samsung C&T, the biggest shareholder of Samsung BioLogics. They claim the trading arm of the Samsung Group may have cooked its books in the process of merging with Cheil Industries in July 2015 as well, and this could be connected to Samsung BioLogics' fraudulent valuat...