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Sun, May 29, 2022 | 15:33
Cho, Sohn share love for fintech
Shinhan Financial Group Chairman Cho Yong-byoung and Woori Financial Group Chairman Sohn Tae-seung are aggressively moving to restructure their organizations by using external resources, industry sources said Wednesday. This comes as both have said there was a limit to achieving innovation with internal human resources deeply ingrained with finance DNA.
Rules hindering internet banking boom
The financial sector was shocked by the regulator's May 26 announcement that it had rejected business proposals for an internet bank from both Kiwoom Securities and Viva Republica. Even Financial Services Commission (FSC) Chairman Choi Jong-ku said he was surprised when he heard the decision made by an external committee that reviewed the proposals.
Line Pay seeks to become lifestyle platform
Line Pay is moving to become more than just a mobile payment service provider. The Japan-based tech company said it is seeking to become a platform where people can not only make financial transactions, but also play music, listen to the radio, read the news, get the latest on the weather, and interact with other people. It will invest $180 million this year to develop and us...
Economic sentiment falls again over uncertainties
Indices measuring consumer and business sentiment have dropped due to growing uncertainties both at home and abroad. The Bank of Korea's (BOK) consumer sentiment index stood at 97.9 points in May, down 3.7 from the previous month. This marks the steepest fall since July last year when the index dropped 4.6 points.
KEB Hana deploys robot for key tasks
KEB Hana Bank has deployed a machine-learning software program that will automatically carry out 19 key tasks, the commercial lender said Tuesday. The program called Robotic Process Automation, internally known as Hanabot, will be able to review and examine personal credit ratings before the bank extends household and corporate loans.
Shinhan in Vietnam
Yu Sung-hun, chief financial officer of Shinhan Financial Group, holds an investor relations meeting in Ho Chi Minh City, Vietnam, Monday. The group invited 20 institutional investors and analysts to introduce Shinhan's goals in Vietnam this year. Courtesy of Shinhan Financial Group
Regulator rejects Kiwoom, Toss internet banks
The Financial Services Commission (FSC) has rejected applications for opening new internet banks from both Kiwoom Securities and Viva Republica, FSC Chairman Choi Jong-ku said Sunday.The reasons givenwere Kiwoom's proposal for Kiwoom Bank was not innovative enough, and Viva's Toss Bank raised concerns over governance and financing.
Boosting communication with young
NongHyup Financial Group Chairman Kim Gwang-soo, center, raises his fist with employees in their 20s after visiting an IT firm, Seoul, Friday. Kim discussed digital transformation with them over lunch. Courtesy of NongHyup Financial Group
Hana, Sumitomo Mitsui expand alliance
Hana Financial Group and Japan's Sumitomo Mitsui Trust Group have agreed to expand their ties in asset and trust management and jointly to develop new digital businesses, the Seoul-based holding company said Sunday. To mark the fifth anniversary of their partnership, executives from the two sides met to discuss their alliance at the Hana Global Campus in Incheon's Cheongna In...
Remodeling Myanmar school
Woori Card CEO Jeong Won-jai, second from right, poses with teachers at an elementary school in Mandalay, Myanmar, Tuesday. Jeong, his employees and Woori Finance Myanmar workers started remodeling and rebuilding the school as part of their social contribution activities. Courtesy of Woori Card
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