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The Korea Times

Entertainment & Arts

SCMP
Asia

The Korea Times

Finance

Companies

Thu, March 30, 2023 | 11:55

KT&G triumphs over activist funds

KT&G triumphs over activist funds

Korea Tobacco & Ginseng Corporation (KT&G) management has succeeded in defending itself from activist fund investors' demands at its annual shareholders' meeting earlier this week. The tobacco company's shareholders voted down all proposals suggested by activist funds, except their agenda item calling for quarterly dividends.

Anna J. Park | 2023-03-29 16:07

Kakao Pay officially launches ESG committee

Kakao Pay officially launches ESG committee

Kakao Pay has officially set up its ESG committee under its board, laying a solid foundation for the sustainable growth of the mobile payment firm. The mobile payment subsidiary of big tech firm Kakao announced Wednesday that the launch of the ESG committee came 10 months after the company kicked off a preparatory move to initiate the committee under its board.

Anna J. Park | 2023-03-29 16:05

KB wins highest ESG rating from MSCI

KB wins highest ESG rating from MSCI

KB Financial Group has won the highest rating of AAA in MSCI's 2022 environmental, social and corporate governance (ESG) evaluation, the company said Wednesday. According to KB, MSCI conducts a seven-grade ESG management evaluation on listed companies around the globe. Only about the top 6 percent of 198 banking industry players here and abroad can achieve the top rating, KB ...

Lee Min-hyung | 2023-03-29 15:55

Will KB be 1st bank to set foot in other industries?

Will KB be 1st bank to set foot in other industries?

Financial authorities are set to decide on Thursday whether to grant formal approval to KB Kookmin Bank's mobile phone services, despite opposition from local carriers. If approved, this would be the first instance of a bank being allowed to expand into other industries.

Lee Yeon-woo | 2023-03-29 15:54

Will dismantling oligopoly result in successful bank industry reform?

Will dismantling oligopoly result in successful bank industry reform?

The government's drive to dismantle Korea's oligopolistic banking industry structure is raising questions over the consequences of such reforms in the face of increasing turmoil in global financial markets this month. Financial authorities want to dismantle the market dominance held by a handful of large banks by bringing in more competition, in a bid to prevent mainstream pl...

Yi Whan-woo | 2023-03-29 09:06

Samsung Pay partners with Hana Financial to issue student IDs

Samsung Pay partners with Hana Financial to issue student IDs

Samsung Pay can now feature a student ID in its mobile application, as it partners with Hana Financial Group to strengthen its digital wallet functions. The move is part of a series of steps Samsung Pay is taking to expand its versatility, following Apple Pay's recent launch in Korea.

Anna J. Park | 2023-03-28 16:05

PM calls for utmost efforts to boost exports

PM calls for utmost efforts to boost exports

Prime Minister Han Duck-soo on Tuesday urged South Korean diplomatic mission chiefs to make utmost efforts to help local firms increase exports and address supply chain disruptions.

2023-03-28 14:58

Internet-only banks urged to keep innovating

Internet-only banks urged to keep innovating

In 2017, the Korean government approved the launch of internet-only banks, aiming to boost competition in the industry and increase customer convenience. As five years have passed since then, it is time to ask, “Have internet-only banks successfully played their expected roles?”

Lee Yeon-woo | 2023-03-27 16:46

Hana chairman suggests guidelines for joint prosperity

Hana chairman suggests guidelines for joint prosperity

Hana Financial Group Chairman Ham Young-joo suggested a set of guidelines, Monday, for employees of the banking group and its affiliates to observe for joint prosperity with society. The guidelines came as Ham marked his first year in office, Monday, in the wake of a global banking turmoil that has raised questions about the Korean banking industry's ability to withstand such...

Yi Whan-woo | 2023-03-27 16:44

JB Financial, KT&G brace for proxy fights at shareholders' meetings

JB Financial, KT&G brace for proxy fights at shareholders' meetings

More than seven out of 10 listed Korean companies are set to hold annual shareholders' meetings throughout this week and market watchers are paying particular attention to JB Financial and KT&G, whose annual meetings are expected to become the settings of proxy fights initiated by activist funds. JB Financial Group is facing a showdown in a proxy battle with Align Partners, a...

Anna J. Park | 2023-03-26 16:18

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