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Wed, July 6, 2022 | 13:13

NongHyup employee arrested for allegedly embezzling 4 billion won

An employee at a regional NongHyup office in Gyeonggi Province was arrested Wednesday for allegedly embezzling 4 billion won ($3 million) from the office. According to Gwangju Police in Gyeonggi Province, the worker is suspected of having transferred the corporate capital into a bank account of his accomplice multiple times since April.

2022-06-15 16:25

Public officials' pension to apply ESG values to all local investments

The Government Employees Pension Service (GEPS), a public institution offering retirement pensions for public official retirees and accident compensation benefits for active government employees, announced that it will apply ESG principles to its entire Korean stock investment portfolio from July. According to the GEPS, the application of the environmental, social and corpora...

Anna J. Park | 2022-06-15 08:52

BC Card launches online art sales service

BC Card launched an online artwork sales service via its e-commerce platform, Tuesday, giving customers easier access to purchase art pieces. According to the nation's largest payment processing company, artists sell their art through the pay-Z platform operated by BC Card. Customers also do not have to visit an art gallery, and can purchase art easily by visiting the sales p...

2022-06-14 16:41

KB Insurance issues ESG bond to strengthen capital soundness

Aiming to strengthen capital soundness and ESG-principled management, KB Insurance issued sustainability bonds worth 286 billion won ($222 million). The insurer announced Monday that the sustainability notes are 10-year maturity bonds and 5-year maturity callable bonds, meaning a type of bond that provides the issuer of the bond with the right to redeem the bond before its ma...

Anna J. Park | 2022-06-13 17:05

Retail investors hit hard by Kakao's sharp decline

Kakao's huge stock fall is unnerving Korean retail investors, as major affiliates of the once-promising growth stock have been hit hard by global monetary tightening. According to data from the Korea Exchange, Kakao and its three major subsidiaries have extended losses of more than 30 percent this year. The combined market capitalization of Kakao, KakaoBank, Kakao Pay and Kak...

2022-06-12 14:50

Samsung Electronics' stock price hits 52-week low

Samsung Electronics' stock price renewed its 52-week record low on Friday, finishing at 63,800 won ($50.30), a 2.15 percent fall from the previous session. Friday's fall is attributed to weakened investor sentiment in the global semiconductor sector, as shown in the 2.69 percent overnight fall of the PHLX Semiconductor Sector Index in the U.S. market. The growing concern over...

Anna J. Park | 2022-06-10 16:34

Korea may ease rules to allow banks to invest more in non-financial firms

Since Financial Services Commission (FSC) Chairman nominee Kim Joo-hyun has said it's time to reexamine the country's long-held separation of industrial and financial capital, the local banking industry is expecting a favorable policy direction from the new leader of the top regulator.

Anna J. Park | 2022-06-10 16:15

KB Financial builds global reputation with net zero campaign

KB Financial Group is building a global reputation as Korea's leading banking group, with its green campaigns under the leadership of Chairman and CEO Yoon Jong-kyoo. The company announced Friday that Yoon has been appointed as a member of the Glasgow Financial Alliance for Net Zero's (GFANZ) advisory board for the Asia-Pacific region.

2022-06-10 15:46

Shinhan set to launch digital non-life insurance business

Shinhan Financial Group is one step closer to starting a digital non-life insurance business after obtaining regulatory approval to incorporate BNP Paribas Cardif General Insurance as a new subsidiary. Shinhan is set to transform the company into a digital non-life insurer soon. The financial holding firm acquired a 94.56-percent stake in BNP Paribas Cardif for 41 billion won...

2022-06-10 08:41

Kakao Pay becomes available in Singapore

With its global partnership with Alipay+, Kakao Pay became available at offline stores and for services in Singapore earlier this month. Alipay+ is Ant Group's global cross-border payment and marketing service that connects offline merchants with mobile payment app users. “Kakao Pay joins hands with Alipay+, aiming to provide convenient payment experiences for users on their ...

Anna J. Park | 2022-06-09 16:25

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