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Sat, June 3, 2023 | 00:18
Shinhan to enhance investment banking
Shinhan Financial Group Chairman Cho Yong-byoung has unveiled his vision for the group's global markets and securities (GMS) unit with his employees. In an internal event held at the head office of Shinhan Investment in Yeouido, Seoul, Tuesday, GMS will be leading the group to generate synergy among its subsidiaries. Also, it will help the group to find and secure new sources...
Banks increase hiring amid weak job market
Major commercial banks have begun their recruitment process for the second half of this year, according to the Korea Federation of Banks (KFB), Friday. The federation said local banks are expected to hire 4,800 young people in total this year, up 60 percent from last year. The KFB had indicated this number of hiring when it hosted a meeting between banks' chief executives and Financial Services Commission Chairman Choi Jong-ku last May.
Central bank may cut growth outlook again
The Bank of Korea (BOK) is expected to lower its growth outlook again in the coming months amid an economic slowdown due to weak employment and consumption, analysts said Monday. They expect that worsening economic data will make it more difficult for the central bank to move its interest rate upward as any hike could further hurt business and consumer confidence. Lee Mi-seon, an analyst at Hana Financial Investment forecast that the central bank will revise down its growth projection again in October when the policy board convenes for its rate decision.
Giving and loving
BC Card and KT employees hand out meals to the elderly, low-income families and the disabled living in Mapo-gu, Seoul, Sept. 8. BC Card and its largest shareholder KT deployed their food trucks to provide rice and noodles ahead of the Chuseok holiday, which falls on Sept. 24.
[INTERVIEW] Hana seeks to boost nonbanks overseas
Hana Financial Group is actively looking for opportunities to invest in emerging markets where it can boost the presence and growth of its nonbanking sector, said Kim Jung-tai, chairman of the listed financial holding company. The group specifically has its eyes on Indonesia, Vietnam, the Philippines, India, China and Russia. It would further make inroads into those markets w...
[Macro Today] Time to complete each other's jobs
Over the last couple of weeks, the public has been seeing policymakers, lawmakers, businesspeople and workers ripping each other apart over two very distinctive economic ideas spearheaded by Finance Minister Kim Dong-yeon and Jang Ha-sung, President Moon Jae-in's chief of staff for policy. The drama has been unfolding with the conflict escalating over the two's policies with ...
Gov't endorses hydrogen economy
Finance Minister Kim Dong-yeon said Friday the government will support hydrogen energy companies to develop a sustainable ecosystem surrounding the use, storage and transportation of the clean and alternative energy. He added in a meeting with a group of industry executives that the country is “running out of growth fuel” given the downturn of conventional manufacturers such ...
Asiana Woori card
Kim Seung-rock, second from right, director of Woori Bank Vietnam, and Lee Sang-hoon, second from left, head of Asiana Airlines Vietnam branch, hold large replicas of the Asiana Woori Card which was launched at the bank's office in Hanoi, Thursday. Cardholders will be able to get benefits when purchasing airline tickets and using golf courses.
Running is learning
Students cheer at an event hosted by KB Kookmin Bank at Cheongju Girls' High School in North Chungcheong Province, Thursday. The bank has started a nationwide campaign to encourage the young to jog and run amid the lack of exercise in the country.
Shinhan to acquire Orange Life for W2.3 tril.
Shinhan Financial Group will soon regain the title of the country's biggest financial holding company by asset rights, after it completes its acquisition of Orange Life, formerly ING Life. This comes after the group's board decision Wednesday to pursue the acquisition of a 59.15 percent stake in Orange from MBK Partners, a local private equity fund manager. Orange is the fift...