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Reporter : Anna J. Park
Sun, December 5, 2021 | 10:17
Hana Bank joins Korean banks in adopting Equator Principles
Hana Bank announced earlier this week that it has officially adopted the Equator Principles, which refer to a risk management framework adopted by global financial institutions for assessing and managing environmental and social risks in investment projects according to a minimum standard.
'Metaverse' becomes new growth engine of financial industry
The fever of “metaverse” - a convergence of physical, augmented and virtual shared space - is sweeping the country's financial industry, as this trending concept is expected to create and expand business scopes. Metaverse is having its moment internationally now, as the pandemic has accelerated digital-based economies in response to disruptions to face-to-face business patter...
'Sell Korea' continues amid weakening growth momentum in Asia
Foreign investors' selling spree of Korean stocks has been continuing this year, as the combined amount of their net-selling of local stocks so far this year reaches 31 trillion won ($26 billion), far exceeding that of last year.
Shinhan Asset Management strengthens global research capabilities
As Shinhan Asset Management opens up its strategic research center to boost its research capability, the asset manager has appointed Na Jung-hyuk, a senior economist in the financial industry, to lead the research sector as the first chief of the center.
Household debt posing major threat to Korean economy amid pandemic
The unrelenting surge in household debt has become the biggest downside risk to the Korean economy, as a growing number of loans taken out by individuals and small business owners are running a high risk of going insolvent amid the prolonged COVID-19 pandemic.
Korean banking groups to offset Myanmar losses in Southeast Asia
Expansion of overseas branches has become a key growth engine for major banks' business strategies, particularly in the Southeast Asian region. Despite unpredictable political situations in some countries in the region, as seen in the case of Myanmar where a number of Korea-headquartered banks were preparing to expand their businesses there, major banks are bracing themselves...
Centroid PE sees complication in TaylorMade apparel business deal
Local private equity firm (PEF) Centroid's acquisition of global golf brand TaylorMade has hit another stumbling block, this time over a domestic licensing deal. The PEF has partnered with Korea's mid-sized fashion company F&F Holdings, along with other financial investors, and they completed full payment for the buyout earlier this month.
Carbon-free stocks enjoy bullish run
Stocks related to carbon neutrality have been enjoying upward movements in the latter half of the year. EcoProHN, an affiliate of EcoPro Group focusing on developing reduction devices for greenhouse gases as well as chemical filter technology, saw its share price rise by more than 360.64 percent in just a few weeks since the beginning of July.
Financial regulator asked to intervene in 'Mergepoint' saga
Financial regulators are being asked to intervene in the ongoing controversy regarding the pre-paid Mergepoint service with angry users calling for them to take responsibility over the issue.
NTS to ease tax verification for local business owners
In a move to alleviate difficulties faced by local business owners due to COVID-19, the National Tax Service (NTS) announced Friday that it will ease tax verification and streamline year-end tax adjustment procedures.
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