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May 04, 2023
Yoon calls for Indo-Pacific solidarity to ride out economic troubles
...rticipate in high quality, green jobs; equip developing member countries to sustain growth and generate resources domestically; and support transitions that are just and equitable,” he said. Top financial figures, including the heads of Korea’s top four financial groups and...
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May 03, 2023
Hana Financial eyes M&As in bid to become global finance giant
Hana Financial Group plans to step up its globalization efforts to become a globally leading finance firm with customized strategies suited to each market with its business spanning from banking to s...gy. Hana holds a major stake in BIDV and BIDV Securities. For its ...
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May 03, 2023
Prioritizing customer-centric digital finance innovation
Morphing into a customer-centered financial platform company through open digital innovation, fostering digital talent and strengthening technological capabilities is one of the key strategies Hana Financial Group pushes forward. Based on big data, the banking group i...
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April 28, 2023
Top financial firms log Q1 net growth; increase loan loss reserves
All four major financial holding companies in Korea have increased their loan loss reserves during the first quarter of this year. Despite this, KB Financial Group, Woori Financial Group, Hana Financial Group and Shinhan Financial Group h...
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April 26, 2023
Meritz ascends to become No. 3 financial group
Meritz Financial Group on Tuesday completed the process of incorporating its nonlife insurance and brokerage affiliates into the group, making it the third-largest financial conglomerate in Korea. A...p's market capitalization is expected to extend to over 9 trillion won ($6.73...
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April 21, 2023
Hana Financial awards artists with disabilities
Hana Financial Group on Thursday held an award ceremony for the winners of its art contest for supporting and celebrating artists with developmental disorders. The ceremony of the contest dubbed “Hana Artverse” took place in commemoration of Korea’s 43rd National D...
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April 10, 2023
'Superrich' ditch real estate for cash in 2022: report
...ing a risk with real estate in 2022, according to a report published Sunday by a think tank under Hana Bank. According to the 2023 Korean Wealth Report compiled by the Hana Institute of Finance, the ... December last year. Of the respondents, 745 were defined as "wealthy," m...
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April 04, 2023
No. of unused credit cards exceeds 15m in 2022
...17.41 percent), respectively. BC Card held the highest percentage of unused credit cards among financial firms at 38.5 percent. Several local banks, such as Jeju Bank (32.32 percent), Jeonbuk Bank (...l Bank (20.66 percent), also had a high percentage of unused credit cards, exceeding...
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March 28, 2023
Hana chief hints at rate cuts for borrowers
Hana Financial Group Chairman Ham Young-joo on Monday hinted at adjusting interest rates as part of efforts to ease the growing financial burdens of customers. Ham, at a meeting with executives across affiliates to mark his first anniversary in office, emphasized the ...
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March 26, 2023
Former bank officials convicted for recruitment scandal
Four former Hana Bank officials have been found guilty by the Supreme Court for manipulating recruitment results in favor of graduates from certain schools and those recommended by high-ranking bank officials or financial authorities. They were also accused of discriminating fe...
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March 23, 2023
Hana Financial vows to fight falling birthrate
Hana Financial Group said Wednesday that it has signed an agreement with Cha University Medical Center, a medical group specializing in fertility treatments, to make joint efforts to tackle the nation’s chronic low birthrate. The two institutions held a signing ceremony for th...
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March 03, 2023
JB Financial names new CFO
JB Financial Group announced Thursday that it has named Senior Vice President Song Jong-keun as its new chief financial officer. An industry veteran, Song has extensive experience in finance and bus...ity of Washington. Starting his career at the Bank of Korea, he went on to t...
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February 23, 2023
[Newsmaker] Korean banks’ oligopoly hinders global competitiveness: FSS chief
The head of Korea’s top financial watchdog criticized the current oligopolistic system dominated by five major commercial lenders, which hinders them from sharpening their global competitiveness. “I...owth potential of the sector,” Lee said. The five major commercial banks -- Shinhan...
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February 22, 2023
Local banks cut lending rates amid rising criticism
Top commercial Korean banks are moving to lower their lending rates further amid backlash from financial authorities and the public against its presentation of a social contribution plan that was dee...ociety after they enjoyed a bumper year on last year's interest rate hikes. The top fou...
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February 20, 2023
Hana Bank to offer energy expense support
Hana Bank announced Sunday that it has raised 30 billion won ($23.07 million) through a joint labor-management fund to provide energy expense support for the financially vulnerable. The funds raised...re enough to cover cash subsidies for the energy expenses of 150,000 people, including ...
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February 17, 2023
Banks under fire for ‘insufficient’ contribution to Korean society
...l commercial banks in Korea. The group's members include major banks such as KB Kookmin, Shinhan, Hana and Woori. However, the gesture was soon criticized as insufficient. According to the banks' pl... adds up to around 780 billion won, according to the KFB. Meanwhile, the Korean gov...
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February 15, 2023
Top 5 banks' hefty bonuses under fire
The top five Korean banks -- KB Kookmin, Shinhan, Hana, Woori and NongHyup – handed out hefty bonuses last year, after they posted record earnings thanks to higher interest income. The five banks’ b... on-year, according to data provided to the Democratic Party of Korea’s Rep. Hwang U...
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February 12, 2023
Big 4 financial groups post record-high net profit of nearly W16tr
South Korea’s top four financial groups -- Shinhan, KB, Hana and Woori – saw their combined net profit last year hitting a record high of 15.85 trillion won ($12.53 billion), largely buoyed by robust interest. This figure broke last year’s record of 14.54 trillion won, as th...
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February 09, 2023
Hana Financial vows $300,000 for Turkey aid
Hana Financial Group announced Wednesday that it has delivered a total of $300,000 in emergency relief to help victims of a deadly earthquake in Turkey and Syria and the ongoing rescue and restoration efforts there. Hana, which has 206 regional branches in 25 regions ...
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February 09, 2023
Shinhan reclaims top financial group crown after three years
Shinhan Financial Group reclaimed the top position among financial firms in Korea by posting net profit outpacing other players last year. According to Shinhan's earnings report released Wednesday, ...o cover the bad debt allowance for money-losing Bank KB Bukopin in Indonesia....