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The rise of such specialized offices follows warnings from local financial authorities regarding a significant reduction in branch numbers. According to data from the Financial Supervisory Service, the top four commercial banks -- KB Kookmin, Shinhan, Hana and Woori -- operated 2,824 offline branch...
Hana Bank, a leading commercial bank in South Korea, unveiled Monday the latest upgrade to its tailored banking app for foreign exchanges, Hana EZ, with a focus on delivering an enriched and user-friendly mobile banking experience for foreign residents in the country. A key improvement lies in the...
Major Korean financial groups are intensifying efforts to broaden and diversify their boards in response to a governmental drive for inclusivity within the sector. Woori Financial Group is appointing two new female members to its outside board of directors for the first time in its history. Lee Eu...
Local crypto exchanges are enjoying a boom in their returns amid the snowballing bitcoin rally. Upbit, the largest crypto exchange here, saw its transaction volume in the past 24 hours surpass 12 trillion won ($8.9 billion) as of Thursday at 3 p.m. It was the first time for the figure to go over 1...
The price of bitcoin traded in Korea climbed to its highest ever Thursday, fueled by a global rally initiated from spot exchange-traded funds and an impending halving. Bitcoin, the world’s biggest cryptocurrency, traded in Korea went above 88 million won ($66,000) at around 2 a.m. on Thursday, a ...
South Korea’s major banking holding firm Woori Financial Group and Abu Dhabi sovereign wealth fund Mubadala Investment Company took the first step toward partnership as their subsidiaries signed a deal for joint efforts in discovering global investment opportunities. Woori Venture Partners, the v...
Industrial impact According to government estimates, about 250 companies, including Samsung Electronics and Hyundai Motor Group, will be subject to the 15 percent minimum rule. Authorities cautioned about a heightened impact on the auto and energy sectors, which have been benefiting from US tax i...
South Korean authorities on Monday introduced a set of measures encouraging listed companies to boost their valuation as a part of efforts to shake off the so-called “Korea discount” which has been haunting the local capital market for decades. Under the “corporate value-up program,” firms lis...
KB Kookmin Bank, one of Korea’s top five commercial lenders here, launched its new Cambodian unit, KB Prasac Bank, to tap deeper into the market by offering loan programs for small merchants and digital banking services. KB Prasac Bank, Cambodia's fourth-largest commercial lender in terms of asse...
Korea Investment Corp., South Korea‘s sole sovereign wealth fund, pledged to increase its exposure to alternative assets to 21 percent by 2024, from 16.1 percent as of May 2021, its Chief Executive Officer Jin Seung-ho told reporters Thursday. The institutional investor, managing $183.1 billion i...
The company said in addition to the size and diversity in green bonds, it has also ramped up its efforts to prevent a ESG bond issuer’s misuse of green bonds to ‘greenwash’ its image. Hyundai Capital said it has set up a Sustainability Financing Framework, which has been certified by DNV-GL, a g...
Forty South Korean investors were found to have invested a total of $16.8 billion in securities issued by thermal coal-related companies worldwide as of January, data exclusively obtained by The Korea Herald showed Feb. 25. The figure highlights calls for more aggressive climate action on the pa...
Tension between the nation’s financial regulator and the central bank are escalating over which institution should hold a supervisory authority in the area of online payment settlements emerging as a key financial transaction method in the era of digital economy. Payment settlement is the proces...
An exchange-traded fund operated by the Vietnam branch of South Korea‘s leading asset management firm Mirae Asset Global made a market debut in the Southeast Asian country‘s stock market, the company said on Dec. 9. The so-called Mirae Asset VN30 Exchange Traded Fund is designed to invest in 30...
Mirae Asset Global Investments, one of South Korea’s largest asset management firms, said on Dec. 1 that it won a US court case against Chinese insurer Anbang Insurance Group over legal disputes involving a $5.8 billion deal to acquire luxury hotels. The Delaware Court of Chancery rejected Anban...
Korea Eximbank extends $120m to Cambodia for road development
Daewoo E&C chairman meets Cambodian PM
CJ Olive Young's Q1 sales jump on strong overseas trade
Seoul sees further jump in cost of dining out
Metanation, Memetoon partner up for webtoon, short-form services
Woori partners with India’s Tata Motors in auto finance push