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February 23, 2022
Amid digitalization drive, banks expand offline services for wealthy
...and replacing them with mobile and artificial intelligence-based services. On Tuesday, Shinhan Financial Group said it upgraded and rebranded two of its wealth management centers in Seoul to focus on...r 2020 and a similar center exclusively for corporate leaders in central Seoul in Ju...
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February 17, 2022
Brother of Seoul envoy to Beijing suspended for misselling of funds
South Korea’s financial regulator on Wednesday decided to suspend Jang Ha-won, the chief executive of Discovery Asset Management from his duty, and fine the state-run Industrial Bank of Korea for mis...ecision last year. Discovery Asset Management was established in 2016 by Jang, former...
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February 17, 2022
Hana signals start of HQ transfer
South Korea’s Hana Financial Group marked the transfer of its headquarters from Seoul to Incheon with a groundbreaking ceremony, the firm said Wednesday. The groundbreaking ceremony for the planned ...Zone. Hana Financial and five of its affiliates –- fla...
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February 16, 2022
No breakthrough in talks to turn post offices into banking branches
The South Korean financial regulator’s plan to allow nationwide post offices to work as brick-and-mortar branches for commercial banks here continues to face major hurdles after being stalled for nea...t, only five banks -- the state-run Industrial Bank of Korea and Korea Development Ban...
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February 15, 2022
Financial watchdog to step up crackdown on Big Tech
South Korea’s financial watchdog pledged Monday to announce its own monitoring measures for Big Tech firms’ financial services. As part of its annual plan for this year, the Financial Supervisory Se...umber of offline branches operated across the country by the four...
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February 14, 2022
Hana eyes stronger earnings, shareholder value under new chief
South Korea’s Hana Financial Group announced a record annual net income of 3.5 trillion won ($2.9 billion) for 2021 last week, citing successful portfolio diversification as a driving force behind th...pre-pandemic level of 26 percent. Hana said its goal is to raise t...
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February 14, 2022
Banking giants set to deliver record dividends
...ms are expected to hand out record-high dividends for their highest net profits made last year thanks to a pandemic recovery, officials said Sunday. Total dividends from the four companies -- KB Financial Group, Hana Financial Group, Shinhan Financial Grou...
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February 14, 2022
Big 4 banking groups post record earnings on lending growth
South Korea’s top four major banking groups -- KB, Shinhan, Hana and Woori -- saw their combined earnings last year hit a record high, largely buoyed by robust interest and commission income. Accord...illion ($12 billion) last year, eclipsing the previous record of 10.8 trillion won in ...
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February 09, 2022
[Newsmaker] Hana Financial taps man behind successful transition after KEB merger as new chief
South Korea’s Hana Financial Group has nominated Vice Chairman Ham Young-joo, who led ##its flagship lender’s## smooth operation and business rebranding after its grueling acquisition of Korea Exchan... in 2019. From 2016, he took on double duty as vice chairman of the bank’...
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February 07, 2022
Financial firms to pay out record bonuses on upbeat earnings
Employees at South Korean financial firms will receive up to four times their monthly salary as their bonuses for 2021, backed by booming business, sources said Sunday. Woori Bank, one of the major ...of that, Shinhan gave away credit card points worth some 1 million won that can be used...
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February 02, 2022
KB, Hana, Shinhan recognized in 2022 Bloomberg Gender-Equality Index
South Korea’s top banking groups KB, Hana and Shinhan are included in this year’s Bloomberg Gender-Equality Index, which recognizes businesses committed to transparency in gender reporting and promot...c companies across various sectors, including finance, technology, and utilities. KB,...
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January 27, 2022
Banking groups beef up auto financing to lure young drivers
...his year, aiming to go beyond their traditional business to attract mobile-first customers. KB Financial Group, the nation’s No. 1 banking group by total assets, has expanded its car financing servic...red information on their regular check-ups and current market value of the vehicle....
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January 21, 2022
KB Kookmin Bank makes inroads into Singapore
... banking and will partially deal with brokerage services. With the latest addition, KB Kookmin now has seven subsidiaries and nine branches across the globe. Its industry rivals Shinhan, Woori and Hana each have their own branches in Singapore. KB Kookmin’s net profit in the January-...
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January 18, 2022
Banks turn to richest clients for 2022
With government restrictions on loans getting tighter and financial technology firms expanding their presence, South Korean banks are turning to their wealthiest clients and their asset management as... management seminar launched Monday. Following a massive reshuffle in the beginning of...
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January 12, 2022
Digital platforms for secondhand trading emerge as new retail unicorns
...etail channels,” it added without disclosing the size of investment. Shinsegae follows Shinhan Financial Group which invested 30 billion won to Bungae Jangtoe in September. Based on the partnership, ...dget,” said Lee Eun-hee, a consumer science professor at Inha University. Accordi...
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January 06, 2022
State-run banks eye overseas expansion for net-zero, corporate financing in 2022
...ures to return to normalcy from the pandemic. Korea Development Bank, the nation’s development financial lender that provides local firms risk capital, is likely to upgrade its current office in Fran...dquarters at the moment. Three out of the five major commercial banks here -- Woor...
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January 04, 2022
Banking group chiefs highlight digital transformation for survival
...tiveness of diverse business units as the main requirements their survival in the new year. KB Financial Group, the nation’s No. 1 banking group in terms of total assets, must become the nation’s top... culture and adoption of ESG values as pillars for this year’s corporate growth g...
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December 29, 2021
Experts on market 2022: Stocks to rebound, home price rise to slow
...to outside changes as the US Fed cuts market support in June and eyes a rate hike later,” said Oh Tae-dong, head of research at NH Investment & Securities Co. Hwang Seung-taek, head of research at Hana Financial Investment Co., said export volumes drive up corporate earnings...
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December 27, 2021
More women promoted, but hurdles remain in finance
The public and private financial sectors have recently appointed more women for leadership amid their drive to adopt environmental, social and governance values, but the field remains overwhelmingly ...m showed that only 7.2 percent of some 110 executives in four major banking groups – K...
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December 21, 2021
Banking giants set to deliver record dividends
...are expected to hand out record-high dividends this year amid their highest net profit estimates buoyed by pandemic recovery, officials said Dec. 20. The total dividends the four companies -- KB Financial Group, Hana Financial Group, Shinhan Financial Grou...