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January 26, 2023
Woori leads Korean banks in overseas sanctions in 2022
... most penalties last year among South Korea's top four commercial banks, according to DART, the Financial Supervisory Service's electronic disclosure board, on Wednesday. In 2022, Woori Bank that ope...utiny. Woori’s crosstown rivals operate a smaller number of overseas branches -- S...
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January 13, 2023
Hana Financial chief visits Google amid big digital push
While staying in the US to attend the 2023 Consumer Electronics Show, Hana Financial Group Chairman Ham Young-joo took time to visit Google Bay View Campus on Friday. According to the group, Ham intended to get some inspiration for digitalization through communicating with empl...
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January 11, 2023
Banking groups under pressure to boost dividend payouts
...ayouts low, prompting stocks to remain at low price levels for a long time. He called on local financial holding companies to alter capital allocation policies to lower provisions that they hold agai...e bank stocks, he added. The shareholder campaign is lodged against seven banking g...
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January 11, 2023
FSC chief rekindles debate reignited over banks' business hours
...ned service time has been causing some inconvenience to local banks' clients, South Korea’s top financial regulator urged banks to return to normal business hours of 9 a.m. to 4 p.m. Thursday. “Banks... Branches of all top four Korean commercial banks-- Shinhan Bank, KB Kookmin Bank,...
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January 09, 2023
[KH explains] Why are banks cutting staff amid record profits?
...hing of the past. All four top commercial banks -- Shinhan Bank, KB Kookmin Bank, Woori Bank and Hana Bank -- are in process of conducting voluntary retirement schemes, with aims to shed some 3,000 w...y experts also warned against abusing the voluntary redundancy program. “After the...
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January 09, 2023
Hana Financial chief attends CES for inspiration
Hana Financial Group said Sunday that Chairman Ham Young-joo took time to look around different booths at the Consumer Electronics Show 2023 in Las Vegas on Thursday. Along with more than 20 young managers from the group’s affiliates, Ham tried out different products at booths...
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January 03, 2023
‘Seize chances to thrive in times of crisis’
... “Despite global economic uncertainties, the company will brace for challenges by enhancing its financial stability, a competitive edge in growth sectors and an innovative business portfolio. We shoul...go down in the recovering market. Walter Cho Korean Air chairman "Among the 14 s...
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January 01, 2023
Major banks offer voluntary redundancies
...st, voluntary retirement has been considered a bitter pill banks had to swallow during times of financial stress. However, over the last few years, many banks here have started regularly accepting vo...ent process, industry insiders expect the two other big local commercial banks of th...
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December 28, 2022
Hana Financial to strengthen digital, global sectors with revamped leadership
Hana Financial Group said Monday it is revamping its organization under three vice chairmen in a move to strengthen its competitiveness in the digital and global sectors, as well as its core financial business. The group appointed two vice chairmen -- Park sung-ho and...
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December 19, 2022
Toss Securities joins hands with Hana Bank for 24-hour forex trading service
Hana Bank on Thursday signed a memorandum of understanding with Toss Securities, the brokerage arm of fintech company Viva Republica, to jointly provide around-the-clock service for foreign exchange trading. “Through continuous cooperation with various financial companies like...
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December 15, 2022
Hana Financial taps CEO candidates
Hana Life Insurance CEO Lee Seung-lyul, 59, was named the final candidate to be considered as the new head of Hana Bank, in Hana Financial Group’s latest leadership reshuffle, which took place earlier than usual. Hana Financial Group sai...
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December 12, 2022
24 Korean firms named to Dow Jones' sustainability index
KB Financial has made it on the list for the seventh year, while Samsung Group’s construction unit Samsung C&T Corp. has been included on the list for six years straight. Kakao, Samsung Biologics and Hyundai Motor Group maintained their positions on the list this year. Hana
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December 12, 2022
Hana looks to nurture future CEOs
Hana Financial Group said Sunday it has provided support totaling 150 million won ($115,000) for 18 startup projects launched by college students. The program, Hana Social Venture University, is part of the group’s outreach that aims to support young students to find...
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November 21, 2022
Hana Financial, SKT team up to step up fintech service
Hana Financial Group and SK Telecom -- one of the five biggest lenders and the largest mobile carrier by subscribers in South Korea, respectively -- are ramping up a joint initiative to expand their presence in fintech, an industry built on making the best of financial...
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November 10, 2022
Uncertain year ahead for Korean banks amid looming debt crisis, CEO term-ends
...e fast approaching the end of their current terms amid concerns of a looming debt crisis in the financial sector, sources said Wednesday. Starting with NH Financial Group Chairman Son Byung-hwan’s te...s are in the same boat, with Shinhan Bank CEO Jin Ok-dong, NH NongHyup Ba...
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November 02, 2022
Banking giants to inject W95tr to ease liquidity strain
...sday agreed to provide 95 trillion won ($67 billion) in liquidity by year-end to shore up local financial markets, rocked by a recent credit default, in what many see as a response to the government’s...cipants, like the major lenders, would make the relief matter more. The five chief...
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November 01, 2022
Corporate borrowing surges to fresh high amid liquidity worries
...global headwinds sapping business confidence. Data from the five lenders -- KB Kookmin, Shinhan, Hana, Woori and NongHyup -- showed conglomerates or large companies holding at least 10 trillion won i... steps to restore market calm, which include easing the Bank of Korea’s collateral ...
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September 19, 2022
Financial workers’ strike has little short-term impact
Some 10,000 unionized financial workers held their first strike in six years on Friday, but the rally may have backfired on them, as their absence at work had minimal impact on customer services, sou...ts said that only 0.8 percent of the workforce at the top five banks here -- KB Kookmin...
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September 19, 2022
Korean drugmakers unfazed by Biden order to beef up US bio sector
...d an overseas manufacturing factory in the US, should the Biden order provide tax incentives or financial support for the company, the official said. Celltrion on Thursday announced in a notice to sh...t the size that can affect the overall (Korean bio) industry,” said Park Jae-kyung,...
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September 05, 2022
Hana to launch W26tr financial aid program for socially vulnerable
South Korea’s Hana Financial Group said Sunday it plans to launch a financial aid program worth 26 trillion won ($19 billion) this month that will benefit some 700,000 vulnerable members of society a...economy is struggling,” Hana Financial Group ...