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Sun, November 27, 2022 | 15:18
Shinhan-led banks grant loan to Afreximbank
Shinhan Bank and other local banks have issued a syndicated loan worth $150 million to Egypt-based African Export-Import Bank (Afreximbank) to help boost the region's trade financing, according to the bank, Sunday. This marks the company's first syndicated loan to the pan-African multilateral financial institution, it said. KEB Hana Bank, NongHyup Bank and Woori Bank particip...
Wi named KDIC chief
The Financial Services Commission (FSC) has tapped Wi Seong-bak as the new chief executive of the state-run Korea Deposit Insurance Corp. (KDIC), according to the regulator. The FSC recommended the KDIC chief to Cheong Wa Dae, which has the authority to give final approval, without having the National Assembly hold a confirmation hearing, the FSC added. Previously, the 58-yea...
Making rice cakes
NongHyup Financial Group Chairman Kim Gwang-soo, third from left, makes rice cakes with multiracial families at the company's charity event in Jeongeup, North Jeolla Province, Sept. 14. The financial group held the event inviting 100 family members to experience traditional activities ahead of the Chuseok holiday, which falls on Sept. 24. Courtesy of NongHyup Financial Group
Foreigners buy bonds for currency gains
The interest rate gap between the United States and Korea is expected to widen further as the Federal Reserve is likely to raise its key rate twice, while the Bank of Korea (BOK) is projected to keep its rate unchanged for the rest of the year. This would raise concerns about the possibility of foreign treasury bond traders exiting their local investments in droves amid forec...
Multiple homeowners face heavier taxes
The government has unveiled another measure aimed at curbing real estate speculation and overheating apartment prices especially in the Seoul metropolitan area. It, foremost, seeks to cool down the real estate market by imposing higher taxes and further restricting mortgages for anyone who already owns a home, the Ministry of Economy and Finance said Thursday. The government ...
Job crisis continues on services downturn
The government will use all available resources at its disposal to revive the job market after seeing more shocking employment data, Finance Minister Kim Dong-yeon said Wednesday. The number of jobs created in August stood at 3,000, continuing its decline from last month when the country only created 5,000 jobs. The youth unemployment rate has reached 10 percent, which is clo...
Launching NongHyup in Cambodia
NongHyup Bank CEO Lee Dae-hoon, fourth from right, cuts the tape to open NongHyup Finance Cambodia in Phnom Penh, Tuesday. The bank acquired SAMIC, a Cambodian microfinance institution, last month and renamed it NongHyup Finance Cambodia. Courtesy of NongHyup Bank
Training future baristas
Shinhan Bank CEO Wi Sung-ho, center, gets ready to shout “hurrah” with students who signed up for the bank's youth training program at a coffee shop inside the bank headquarters in Seoul, Wednesday. The bank has launched the program to help train people who want to become baristas and run a coffee shop or restaurant. Courtesy of Shinhan Bank
KB Financial eyes Vietnam, Indonesia for expansion
KB Financial Group will speed up its globalization of its nonbanking business especially in Vietnam and Indonesia, according to the listed financial holding company. It will further inject capital into KB Securities Vietnam to boost its operations of corporate and investment banking, and mergers and acquisitions advisory service, in addition to real estate financing and stock...
Statistics cooperation
Choi Song-wook, deputy commissioner of Statistics Korea, left, and UK Statistics Authority CEO John Pullinger show their copies of a memorandum of understanding (MOU) they signed at the Authority's London office, Monday. The two sides will work together to develop and exchange statistics models for decision-making and data analysis.