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Wed, July 6, 2022 | 13:43

Shinhan Bank to set up joint venture for SME-focused digital platform

Shinhan Bank has signed a deal to set up a joint venture aimed at a tailor-made banking platform for small and medium-sized enterprises (SMEs) in partnership with an information and communications technology (ICT) firm, the lender announced on Wednesday. It said the deal with Douzone Bizon is anticipated to offer financing assistance to prospective SMEs, which struggle with r...

2022-06-22 16:55

Citibank Korea partners with KB, Toss for W8 trillion loan repayment

Citibank Korea has picked KB Kookmin Bank and Toss Bank to manage its existing debtors while its retail banking operation here undergoes a phased shutdown. The Korean subsidiary of the U.S. banking group said Wednesday that its retail customers can pay the interest and principal on their loans to KB and Toss from the beginning of July.

2022-06-22 15:47

KDB chief inauguration ceremony goes ahead amid union protests

Two weeks after being appointed to head state-run Korea Development Bank (KDB), Chairman Kang Seog-hoon finally held a delayed inauguration ceremony on Tuesday, vowing to communicate closely with the bank's workers regarding a government-led relocation plan to Busan. Unionized workers of the bank had been blocking the new chairman from entering the bank headquarters since his...

Anna J. Park | 2022-06-21 16:44

Financial regulator investigates Meritz Asset Management CEO

The Financial Supervisory Service (FSS) has been conducting investigations into Meritz Asset Management CEO John Lee over allegations that he violated a conflict of interest obligation when making an investment decision for his firm. According to the FSS, it carried out on-site inspections into the asset management company from May 23 to June 7.

Anna J. Park | 2022-06-20 17:27

Game stocks plunge amid interest rate hikes

The major game stocks nosedived at closing on Monday, as concerns over a global economic recession continue. Kakao Games, the largest market cap game company listed on the Kosdaq, ended Monday's session with a fall of 10.14 percent, finishing at 50,500 won ($39.10). Monday's closing price is the game company's new 52-week low price. Wemade, another major game company listed o...

Anna J. Park | 2022-06-20 17:27

Seoul shares, Korean won skid to yearly lows on recession fears

Hana Bank, health service assessment agency to expand ESG cooperation

Hana Bank has signed a memorandum of understanding with the government-affiliated Health Insurance Review and Assessment Service (HIRA) on its path to expand private-public sector cooperation in the practice of environmental, social and corporate governance (ESG) values in management, the lender announced on Sunday. Under the deal, Hana Bank will be responsible for HIRA's maj...

2022-06-19 16:17

Woori Financial holds 1st general meeting for ESG-focused foundation

Woori Financial Group Chairman and CEO Son Tae-seung, eighth from left, poses with Woori Bank CEO Lee Won-duk, seventh from left, and other CEOs of the banking group's affiliates during the inaugural general meeting of a charity foundation set up under the broader goal of supporting environmental, social and corporate governance (ESG) practices at Woori Financial Group's head...

2022-06-19 16:15

Korea's large-cap stocks nosediving to pre-pandemic levels

Korea's large-cap tech stocks are nosediving at an alarming pace, leaving retail investors of Samsung Electronics, Kakao and Naver with a growing sense of frustration. The three companies enjoyed their heyday in 2020 and 2021 amid the earlier part of the ongoing COVID-19 pandemic, as their stock prices soared to historic levels on the coronavirus-induced near-zero interest ra...

2022-06-17 16:35

Inauguration of KDB chair delayed amid union protest

Unionized workers of Korea Development Bank (KDB) said Friday that they have no plans to end their ongoing protest blocking new chairman Kang Seog-hoon from setting foot in the bank's headquarters, unless President Yoon Suk-yeol responds to their calls to scrap the planned relocation of the state-run bank to Busan. Yoon said during his campaign that the relocation would help ...

2022-06-17 16:15

Hybe stock plunges after BTS announces hiatus

The stock price of Hybe, the company that manages BTS, plummeted more than 24 percent on Wednesday, after the K-pop juggernaut announced Tuesday night that it will take a break as its members pursue solo activities.

Anna J. Park | 2022-06-15 16:30

BTS announces hiatus to let members pursue personal growth

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