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March 14, 2024
[KH Explains] Will KG Mobility, Korea's SUV dark horse, triumph globally?
...y given the pivotal role of the Port of Shanghai in global shipping dynamics. Despite a robust financial performance in 2023, with an operating surplus of 12.5 billion won ($9.4 million), up from a 2...aunch of a new Torres model, the company should be on track to hit its sales targets...
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March 07, 2024
Finance minister stresses banks' role in FX market reform
...the chiefs of KB Kookmin Bank, the state-run Korea Development Bank, Shinhan Bank, Woori Bank and Hana Bank in Seoul, as the government has been working to ease regulations and implement measures to a...ours of the FX market to 2 a.m., which currently runs from 9 a.m. through 3:30 p.m. ...
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March 07, 2024
Lotte E&C reduces liabilities by securing $1.7 billion
... project financing (PF) fund, which was raised in collaboration with commercial banks and other financial institutions. This financing was fully funded, along with an additional 500 billion won secur... established last month with the participation of five banks - Shinhan Bank, KB Bank...
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March 04, 2024
[From the Scene] Staying 'senior-friendly': Next normal of banking
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 --...
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March 04, 2024
Finance giants boost female board numbers amid government initiative
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 appointin... has expanded the size of its outside board from six to seven members in the ...
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March 04, 2024
Hana Financial Group targets baby boomers with Lim Young-woong
In just nine days of its release, a 16-second video featuring trot singer Lim Young-woong posted on YouTube by Hana Bank has garnered over 6.8 million views as of Sunday. The video introduces the 32-year-old singer as the new face of Hana Financial Group, one of Korea...
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February 27, 2024
High rates drive 49% surge in 2023 Korean banks' bad loans: report
...orean banks' potential uncollected loans for 2023, Yonhap News reported, citing a data from the financial industry. The data released on Tuesday revealed a significant 49 percent increase in the pote..., marking a substantial surge of 48.8 percent compared to the previous year, as repo...
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February 18, 2024
Bithumb hits stumbling block in ambition to be market No. 1
... facilitate transactions with Korean won, according to the Act on Reporting and Using Specified Financial Transaction Information. Bithumb Korea sought to form a new partnership with KB Kookmin Bank .... However, none are associated with the four major commercial banks here -- includin...
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February 07, 2024
From bees to polar bears, Korean banks' love of animated characters
Top financial groups here have put forward animated characters as their faces in a bid to woo a wider range of customers. Woori Financial Group has recently brought back its band of animated charact...ier image, according to the firm. With Woori jumping on the bandwagon, all f...
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January 18, 2024
KB Kookmin Bank vows W372b support for SMEs
KB Kookmin Bank said Wednesday it will provide 372.1 billion won ($276.4 million) in financial support measures for the self-employed, small business owners and vulnerable groups facing difficulties ...re KB Kookmin Bank's Wednesday announcement, other major lenders unveiled their own mea...
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January 18, 2024
Woori, BC improve profits in overseas card business
...percent on-year. The situation was not so bright overall. As of the third quarter last year, accumulated net profit for Korea‘s six card firms operating overseas -- KB Kookmin, Shinhan, Woori, BC, Hana and Lotte -- was around 25.6 billion won in total, down by almost 40 percent from t...
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January 17, 2024
OCI-Hanmi merger aims for Korean version of Bayer
...a potential market overhang have ended for Hanmi Pharmaceutical,” Park Jae-kyung, a researcher at Hana Securities, said in a report. Previously, the group’s stock price, particularly that of holdings ...er, as the company will be able to secure more research and development funding, l...
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January 15, 2024
Catastrophic losses pile up from HK-tied ELS
... won ($81.14 million) in principal losses have been confirmed from the sales of the Hong Kong index-tied ELS products sold by the five major Korean commercial banks, according to sources from the financial ring on Sunday. The five banks are Kookmin, Hana, Shinhan, Woori and NH...
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January 12, 2024
Hana Bank to provide W356b in support for small businesses
Hana Bank announced Thursday that the company would provide 355.7 billion won ($270 million) in financial support for small business owners, who are struggling with high interest rates and the recent economic setback. Hana Bank said its support program will offer cash...
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January 09, 2024
[CES 2024] Korean finance giants eye new opportunities at CES
The leaders of Hana Financial Group and Shinhan Financial Group are headed to the CES 2024, the world's largest consumer technology event slated to open in Las Vegas on Tuesday. Hana Financial Group Chairman Ham Young-joo is taking part in the tech...
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January 08, 2024
FSS cracks down on HK-tied ELS misselling
The South Korean financial authorities are launching an official probe into the misselling of equity-linked securities tied to Hong Kong's benchmark index, with massive principal losses set to occur ...ent and Securities, the top-selling bank and securities firm of ELS products, respectiv...
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January 03, 2024
2024 set to be another profitable year for top 4 financial groups
South Korea's top four financial groups -- KB, Shinhan, Hana and Woori -- are expected to post a combined net profit of over 17 trillion won ($13 billion) this year, buoyed by their moneylending business, according to market tracker FnGuide. While the four firms posted an estim...
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December 19, 2023
Korea's top 5 banks brace for losses from foreign real estate projects
South Korea’s top commercial banks -- KB Kookmin, Shinhan, Hana, Woori and NongHyup -- are facing a potential risk of suffering losses in overseas real estate investments amid a slowdown in the globa...al estate funds sold by the five banks stands at 753.1 billion won ($580 million), acc...
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December 05, 2023
Fractional art market opens up to lure new investors
...onal investments in Yayoi Kusama's 2002 artwork, “Pumpkin,” to the country’s top regulator, the Financial Supervisory Service. Art Together purchased the painting from renowned British auction house ...al was a voluntary one for fair value suggestion and investor protection,” analy...
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November 28, 2023
Korean banks at risk of W3tr in losses in HK-tied ELS sales
... sold by Korea’s five major banks exceeds 13 trillion won. Of them, some 8.4 trillion won worth of ELS products are facing maturity in the first six months of 2024, according to data from Korea’s Financial Supervisory Service. By size, Kookmin Bank holds the largest amount standing a...