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Sun, May 29, 2022 | 14:18
KB boosts BIS ratio through fundraising
KB Financial Group said Friday that its BIS capital adequacy ratio is expected to rise to 15 percent from 14.83 percent after it issued 400 billion won ($350 million) in hybrid bonds to institutional investors. Last month, a source with knowledge of the situation told The Korea Times that the group was planning to issue the bonds to boost its capital base. This was to “better...
'It' cinematographer Chung shoots 'Zombieland' sequel
Chung Chung-hoon, a cinematographer best known for his work on “Oldboy,” has been hired to shoot “Zombieland: Double Tap,” according to IMDb. The movie, whose plot has not yet been revealed, is a sequel to the 2009 sleeper-hit dark comedy “Zombieland,” starring Oscar winner Emma Stone and Oscar nominee Woody Harrelson.
Regulator to inject W4 tril. for innovation
The country's financial regulator will inject 4 trillion won ($3.4 billion) into the market through a state venture fund aimed at creating “new and advanced” industries within this year. In a taskforce meeting with the heads of local financial groups in Seoul, Tuesday, Financial Services Commission (FSC) Chairman Choi Jong-ku said this was part of the 10 trillion won fund it ...
Key economic indices rebound on base effect
Korea saw a “triple rebound” in indices measuring industrial production, investment and consumption in March, according to Statistics Korea, Tuesday. But analysts said these were a “one-off rebound” on the back of a so-called base effect. This means since the numbers in February were so low due to the Lunar New Year holiday, the March indices showed “meaningless” gains. Expor...
Gov't to boost non-memory chip biz
The government will draw up measures to help Samsung Electronics, SK hynix, and small- and medium-sized enterprises (SME) boost their non-memory chip businesses, Finance Minister Hong Nam-ki said Monday. Korean companies are the top manufacturers of memory semiconductors, but their competitiveness in non-memory chips lags far behind those in the United States and Taiwan. It i...
KB launches control tower for innovation, investment
KB Financial Group has launched an innovation committee that will serve as its “control tower” for innovation and investment, the holding company said Monday. The committee will consist of 12 executives from subsidiaries including KB Kookmin Bank, KB Securities and KB Investment. Also on the committee is KB Kookmin Bank CEO Hur Yin who is head of the group's innovation unit t...
Financial firms boost digital services for new growth
Almost all financial companies are looking to find a business breakthrough through technology amid the economic slowdown and tougher regulations on their conventional services, according to industry sources. Not only banks, but credit card companies and brokerages are seeking to create easy-to-use digital services, and also they are hoping they can export or introduce them ab...
SC Bank Korea issues 'Avengers' cards
The world's mightiest heroes from Captain America and Iron Man to Thor and the Hulk are back on the big screen to once more fight the supervillain Thanos. The Avengers also made a comeback on SC Bank Korea's debit cards for Marvel superhero universe fans over 20.The foreign bank issued the Marvel cards and account books in line with the worldwide opening of “Avengers: Endgame...
Attracting investors to startups
Plug & Play Tech Center Chief Operating Officer Candace Widdoes, on stage, gives a presentation on venture entrepreneurship to local corporate venture capitalists and startup founders at the state-run Korea Development Bank's headquarters in Seoul, Friday. The policy bank hosted a global accelerator program to help local startups attract investors. Courtesy of Korea Devel...
Economy contracts 0.3% in first quarter
The economy unexpectedly contracted 0.3 percent in the first quarter of this year from the previous three months due to falling private investment and exports, according to the Bank of Korea, Thursday. The last time the quarterly growth declined was in the fourth quarter of 2017 when it shrank 0.2 percent. But the 0.3 percent contraction in the first quarter marks the biggest...
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