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Hana Financial Group Chairman Ham Young-joo said "productive finance" should extend beyond support for advanced industries to include traditional manufacturing and smaller businesses, arguing that industrial and financial policies must work more closely together as technological change reshapes the economy. Ham made the remarks at a joint seminar on productive finance — investments that focus on infrastructure and productive industries rather than speculative returns — hosted by the Hana Institu
Woori Bank said Thursday it plans to launch a dedicated digital wallet for overseas tourists to South Korea in the second half of this year to simplify payments and improve access to local financial services. The bank said it signed a memorandum of understanding with fintech startup Crosshub on Wednesday to improve payments for foreign visitors and jointly develop financial services that address payment challenges commonly faced by those travelling to Korea. Under the partnership, the two compan
For Korean banks, green finance is becoming less about branding money as ESG and more about proving where that money goes. That shift is being driven by the Korean green taxonomy, also known locally as K-Taxonomy. The framework defines which activities can be considered environmentally sustainable and puts stricter standards around green loans and bonds. Woori Bank is moving ahead with loans and bonds screened against the taxonomy rather than broader ESG standards. The lender said it has provide
Woori Bank said Tuesday that its London trading center has secured approval from UK regulators to sell derivatives products to clients and conduct securities operations, advancing the lender's push to expand its capital markets business in London. The center received approval from the Financial Conduct Authority and the Prudential Regulation Authority on May 29, about 10 months after filing its application, following a process to meet local regulatory requirements and build an internal control f
Hana Financial Group said Tuesday it has signed a memorandum of understanding with the Ministry of National Defense to launch a support program for wounded service members, bereaved military families and troops serving in remote areas. Marking National Veterans Month in June, the financial group will provide about 1 billion won ($659,000) in annual support under the "Hero with Hana" initiative to nearly 300 service members and their families. The agreement was signed at the Defense Ministry head
Kakao Bank is preparing for its biggest overseas test yet. The launch of its Thai virtual bank venture, Bank X, marks a shift from investor to operator for Korea's largest internet-only bank. Unlike its previous overseas investments, Kakao Bank is taking responsibility for designing and developing the digital bank's mobile platform and services, making it the most hands-on role it has assumed in an overseas venture. "We think the launch will probably take place late this year or early next year,
Hana Bank said Friday it has opened a branch office in the Subic Special Economic Zone northwest of Manila, aiming to strengthen its presence in Southeast Asia and support growing demand from Korean companies operating in the region. The move comes as HD Hyundai Heavy Industries ramps up operations at the former Subic shipyard, which resumed full-scale production in the second half of 2025 after a major facility overhaul. The company plans to turn the site into a key Southeast Asian production h
As more aging founders of small and midsized companies in South Korea struggle to find heirs willing to take over, business succession is moving beyond inheritance tax planning into a broader challenge of building the financing, valuation and governance structures needed to keep viable firms alive, said Yoon Seong-hoo, general manager at Woori Bank's Corporate Succession Support Center. "Family succession remains the first choice for most business owners," Yoon said in a recent interview with Th
Mirae Asset Group Founder and Global Strategy Officer Park Hyeon-joo has outlined a new vision for the asset management giant's next stage of growth, betting that artificial intelligence, digital assets and innovative investment products will reshape the future of wealth management. Speaking at the Mirae Asset Rally 2026 held in Hongcheon, Gangwon Province, Park unveiled what he called "Mirae Asset 3.0," a strategy aimed at connecting the group's ETF business, AI-powered wealth management capabi
Woori Bank is pushing into corporate succession for small and medium-sized companies as a new banking frontier, casting it as an economic issue tied to jobs, technology and supply chain stability as Korea's first-generation founders age without clear successors. At a press conference Monday in Seoul, CEO Jung Jin-wan said the bank would support what it calls "productive corporate succession" to prevent viable companies from closing or downsizing. "Corporate succession is not just a priority for
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