search close
Fri, December 9, 2022 | 19:12
Helping Indonesia
Shinhan Bank CEO Wi Sung-ho, second from right, donates 1 billion rupiah ($68,568) to help Indonesia reconstruct the island of Lombok after two strong earthquakes hit the region. Wi delivered the donation to Indonesian Red Cross Secretary General Ritola Tasmaya, second from left, at the Ritz-Carlton Hotel in Jakarta, Sunday. Courtesy of Shinhan Bank
[Macro Today] Dollars, but no sense of innovation
It seems the government wants to be in the game to help the private sector, especially startups, create the next big thing before the big wave of the Fourth Industrial Revolution hits the country. The finance ministry will be pouring tons of money into building ecosystems surrounding hot technologies such as driverless cars, smart metropolises and farming, drones and alternat...
Job crisis hits Korea
The government will rapidly execute its supplementary budget in response to the latest statistics showing a record low number of jobs created in July. Statistics Korea released data Friday that showed the number of new jobs stood at 5,000 last month, the lowest in eight-and-a-half years since the aftermath of the global financial crisis. In an emergency meeting in Seoul, Frid...
KB launches rupiah wire service
KB Kookmin Bank has launched a service enabling Indonesians working here to directly wire their money in rupiah to their respective accounts in the Southeast Asian country, the bank said Friday. Previously, they were only able to send money after exchanging Korean won to U.S. dollars. The bank only allowed them to wire dollar-denominated funds via its networks. This comes as ...
Foreign banks' profits fall on provisions
Two foreign-invested commercial banks saw their profits drop in the first half of this year, compared to the previous year. This was in stark contrast to local banks, which enjoyed high profits on increased interest incomes. Both Standard Chartered (SC) Bank Korea and Citibank Korea said the main reason was they had to boost their risk management by increasing their provision...
Doing good for customers
Shinhan Bank CEO Wi Sung-ho, center, holds a written oath with his employees at the bank's headquarters in Seoul, pledging to provide accurate information and ethical, friendly services to its customers, Thursday. The bank also vowed to prevent its employees from marketing and offering “irregular” services.
NTS to suspend auditing self-employed
The National Tax Service (NTS) said Thursday it will not audit the books of 5.69 million self-employed and small business owners until the end of next year. This will let them focus on running their operations without having to worry about tax investigations. The move comes as they increasingly face hardship amid a weak economy and rises in the minimum wage. NTS data showed t...
Investors dump gold for dollars amid trade disputes
Global investors are dumping and staying away from gold, while trying to get their hands on U.S. dollars amid the United States' growing trade disputes with China, the European Union and Turkey among others. Gold futures for 60 months forward are barely trading above $1,200 an ounce, and spot gold reached $1,193, its lowest level in nearly 18 months, according to CME Group's ...
Hana fixes eyes on North Korea
Kim Jung-tai, chairman and chief executive of Hana Financial Group, will be heading for North Korea to watch a youth soccer match for the 4th Ari Sports Cup held in Pyongyang from Aug. 13 to 18, according to the Ministry of Unification and the South and North Korean Sports Exchange Association. The chairman is expected to be joined by KEB Hana Bank CEO Ham Young-joo and sever...
Best wishes
Shinhan Financial Group Vice President Jin Ok-dong, third from right, and table tennis players raise their fists for a photo at a stadium in Jincheon, North Chungcheong Province, Tuesday, as the financial group wishes them luck at the 2018 Asian Games. Shinhan donated funds worth 50 million won to the national table tennis and volleyball teams. Courtesy of Shinhan Financial
Copyright