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Reporter : Anna J. Park
Tue, May 30, 2023 | 13:23
Kyobo Life considers entering non-life insurance market
Both Kyobo Life Insurance and Kakao Pay Insurance denied a market rumor that they are in talks. Media reports said earlier this week that Kyobo Life has begun due diligence into Kakao Pay Insurance to acquire a 51 percent stake in the digital non-life insurance firm for around 60 billion won to 70 billion won ($45 million to $53 million).
Companies | 2023-05-09 16:35
FSS chief visits Southeast Asia to promote 'K-Finance'
Financial Supervisory Service (FSS) Governor Lee Bok-hyun has emphasized the Korean financial market's enhanced market access as well as consistency in regulations for global investors during his overseas investor relations event held in Singapore on Tuesday. Lee has been on a five-day overseas visit to three Southeast Asian countries - Thailand, Singapore and Indonesia - sin...
Markets | 2023-05-09 16:07
KB Insurance posts all-time high profits under IFRS17
KB Insurance has posted a record-high quarterly profit of 253.8 billion won ($192 million) in the first quarter this year, a 25.7 percent jump from the same period last year. The hike is mainly attributed to the implementation of the International Financial Reporting Standard (IFRS) 17, a set of new global accounting standards, starting this year.
Companies | 2023-05-08 16:04
Top 5 banks brace for $27 billion in potential bad loans
The total amount of loans extended by Korea's top five banks to small-and-medium-sized businesses whose deadlines on repayments of principal have been delayed for the past three years due to the COVID-19 pandemic, reached nearly 37 trillion won ($27 billion), according to financial market officials, Sunday.
Companies | 2023-05-07 16:54
FSC eases regulations to spur M&As
In a move to foster active corporate M&As to bring about economic innovation, the Financial Services Commission (FSC), the country's top financial regulator, has decided to ease the financial burden on potential buyers to prove their capital qualifications, when it comes to launching tender offers.
Economy | 2023-05-07 16:45
K bank maintains top position in brand reputation among local internet banks
K bank has topped April's monthly chart rankings among the country's internet-only banks in terms of brand reputation. The mobile bank has maintained the top spot in the monthly Brand Reputation Index (BRI) ranking - for seven consecutive months since last October. The rankings announcement was made by the Korea Corporate Reputation Research Institute.
Companies | 2023-05-04 15:50
Korea's GDP forecast to grow 1.1 percent in 2023: S&P
Korea's GDP is expected to grow by 1.1 percent this year amid weaker demand and fading re-opening benefits, according to forecasts by S&P Global Ratings. However, longer term, the growth trend will ease to around 2 percent for the period from 2026 to 2030.
Economy | 2023-05-03 16:34
KB Financial to hold cocktail reception during ADB meeting
KB Financial Group plans to host a cocktail reception during the 56th Annual Meeting of the Board of Governors of the Asian Development Bank (ADB), aiming to promote Korea's global competitiveness in the financial sector as well as the expansion of the financial group's worldwide business.
Companies | 2023-05-03 09:20
Korea, China, Japan cooperation to serve as growth engine of global economy: Korean finance minister
Korea's Finance Minister Choo Kyung-ho emphasized that the cooperative ties between three Northeast Asian countries - Korea, China and Japan - will serve as a crucial engine for speedy and sustainable recovery as well as the further growth of the global economy. The finance minister also vowed that Korea will play an active role in cooperative economic relations among the thr...
Economy | 2023-05-02 16:39
Korea's sovereign wealth fund discusses life science real estate investment in London
Korea Investment Corporation (KIC), the country's sovereign wealth fund, hosted a meeting of the London International Financial Cooperation Council on Thursday, local time in London, delving into the topic of life science real estate investment with experts from the U.K. Life science real estate refers to offices and research facilities leased by biopharmaceutical companies o...
Companies | 2023-04-28 17:50
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