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South Korea and the World Bank have agreed to enhance partnership on digital identification initiatives to share expertise and technologies related to South Korea's advanced digital ID system with developing nations, the state-run minting agency said Thursday. During a meeting held in Seoul last w...
Hana Bank, South Korea's major commercial bank, opened a new dealing room -- the latest of its kind here -- in Seoul on Wednesday. Named "Hana Infinity Seoul" to signify the bank's ambition to expand its global reach, the new dealing room occupies the fourth and fifth floors of the lender's headqu...
Yun Ho-young, CEO of Kakao Bank, has been appointed as a new board member for Grab, the largest super-app operator in Southeast Asia, the Internet-only lender confirmed Wednesday. Yun was officially appointed as an outside director of Grab's board on Monday and will serve as a member of the board'...
South Korean financial groups have undergone a transition in their board composition, indicating governance changes centering on gender diversity and internal control. Given that a financial holding company’s board is the ultimate decision-making body engaging in establishing management strategie...
Last year witnessed remarkable growth for South Korea's three internet-only banks, as their combined value surged past the milestone 100 trillion won ($74 billion). The aggregate assets of Kakao Bank, K bank and Toss Bank reached approximately 101.61 trillion won by the end of last year, marking a...
Mirae Asset Financial Group founder and Chairman Park Hyeon-joo is donating 1.6 billion won ($1.2 million) he earned from dividends last year, marking the 14th straight year of his philanthropic tradition. On Sunday, the company disclosed that Park will endow his entire dividend income from Mirae ...
Korea's top lenders have all decided to accept the compensation guidelines suggested by the country's financial watchdog, agreeing to make up for the losses from the misselling of equity-linked securities tied to a Hong Kong index, with KB Kookmin Bank and Shinhan Bank joining the list Friday. Fol...
Hana Financial Group, one of South Korea's top four finance conglomerates, has joined hands with Credit Agricole Corporate and Investment Bank to strengthen cooperation in expanding its business in Europe, the firm said Friday. The two entities have signed an agreement to expand cooperation in cor...
Korea failed to join the World Government Bond Index, a global benchmark that measures the performance of sovereign bonds, but it remains hopeful as the index provider gave a positive evaluation of its latest efforts to improve market accessibility. The WGBI, managed by Financial Times Stock Excha...
Lee Bok-hyun, head of South Korea's Financial Supervisory Service, pledged Thursday to promote "sound and fair finance," aiming to enhance the country's allure as an investment destination for foreign investors. Lee addressed officials from global financial firms and foreign diplomats during the a...
The head of South Korea's financial regulator vowed Thursday to promote "sound and fair finance," stressing the need to help revitalize the economy amid high interest rates and inflation. Lee Bok-hyun, governor of the Financial Supervisory Service (FSS), stressed the need to further develop and pr...
Korean banks have rolled out a financial package worth around 600 billion won ($444 million) to support small business owners and young people, with an aim to share their profits, according to the Korea Federation of Banks, an organization representing the lenders, Wednesday. The funding is a foll...
Yoon Byung-un, an investment banking veteran, officially took office as the CEO of local brokerage house NH Investment & Securities, after winning approval at the annual shareholders’ meeting Wednesday. “We must be ready to make another leap without being satisfied with the present. The first pa...
South Korean banks are poised to bolster their presence in Poland, anticipating a surge in demand for financial assistance as the two nations deepen their strategic alliances and economic ties. On Tuesday, KB Kookmin Bank, one of the country's leading lenders, announced a partnership with Poland's...
Recognizing the expansion of the foreign population in Korea, banks are striving to improve access for foreign residents here by providing customized services from the point of arrival to departure. As Foreign nationals are expected to take up a more significant portion of Korea’s demographics am...
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