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Sun, November 27, 2022 | 14:34
IBK to enhance digital services
Industrial Bank of Korea (IBK) Chief Executive Kim Do-jin said Tuesday the bank needs to look beyond its home ground and conventional business territory for growth. In an event to celebrate the 57th anniversary of its foundation at its Seoul headquarters, Kim said the bank needs to change and become one that focuses on providing digital financial services. “We need to leave o...
Korea needs 'regulatory sandbox' for financial innovation
The country's regulators need to be more “lenient and flexible” with startups so they can come up with innovative and convenient financial products and services, a local researcher said. Startups should have the freedom to maximize their creativity, play with ideas and test them as fast as they can in a “sandbox” environment free from constant worries about rules and regulati...
Donating fans
NongHyup (NH) Bank CEO Lee Dae-hoon, second from left, poses with employees and an official from a welfare center in Yongsan, Seoul, Monday, after donating 200 electric fans for elderly people living alone. NH Bank has also opened shelters at its branches for the underprivileged amid the ongoing heat wave. Courtesy of NH Bank
Shelters at banks
Financial Services Commission (FSC) Chairman Choi Jong-ku shakes hands with an employee of Woori Bank's YMCA branch in Seoul, Monday, during his visit to attend the opening ceremony of the branch's in-house shelter for the vulnerable amid a record-breaking heat wave. / Courtesy of FSC
IU becomes new face of Samsung Card
Samsung Card is zeroing in on attracting young and hip consumers in their 20s and early 30s. It said it has signed a contract with singer-songwriter IU in an effort to not only revamp its corporate image, but also to appeal to younger consumers who are comfortable with communicating via social media platforms such as Facebook. IU will help promote three prepaid gift cards fro...
Shinhan expands digital service in Vietnam
Shinhan Bank Vietnam has forged strategic partnerships with mobile platform operators there in an effort to further boost its digital business and service. The Vietnamese branch of Shinhan Bank said Friday it will be marketing and offering credit card services via Zalo, the region's most used mobile messenger. Some 100 million people use the application developed by VNG Corp....
Gov't signals 'friendlier' chaebol policy
The government has signaled that it is shifting its policy toward more friendly with conglomerates in a bid to inject new vigor into the slowing economy. Stepping back from an earlier anti-chaebol policy, President Moon Jae-in and top economic policymakers are seeking to meet business leaders and calling for expanding investment.The move comes as President Moon's income-led g...
Best partner
Yoo Yoon-dae, left, executive vice president of NongHyup (NH) Bank, receives an award from Odilon Almedia, president of global money transfers for Western Union, for being the latter's best partner in overseas wire transfers, at the Korean bank's headquarters in Seoul, Thursday. Both sides forged strategic ties in 2008. Courtesy of NH Bank
Economic growth slows to 0.7% in Q2
The country's economy grew 0.7 percent in the second quarter from the January to March period, according to the Bank of Korea, Thursday. It grew 2.9 percent from the same period a year ago. The slowdown was mainly due to a decrease in investment from manufacturing and construction, despite a slight increase in exports amid the trade dispute between the United States and China...
NH Financial eyes digital, overseas for growth
NongHyup (NH) Financial Group Chairman and Chief Executive Kim Gwang-soo said Thursday the group will strengthen its business by reorganizing its nonbank assets and seeking opportunities abroad. Also, the group will use digital technology at its disposal not only to boost synergy among its subsidiaries but also to further provide customer convenience such as a complete 24-hou...
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