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KB Financial Group, Shinhan Financial Group and Woori Financial Group have warned US investors that government pressure to expand policy finance and support vulnerable borrowers could weigh on profitability and asset quality, highlighting risks that were not disclosed in their Korean filings. The banking groups, all listed on the New York Stock Exchange, included the disclosures in annual reports for fiscal 2025 filed with the US Securities and Exchange Commission. In the April 28 filing, KB Fin
Kakao Pay is ramping up its offline payment expansion, aiming to grow monthly offline payment users to 10 million by 2027 as competition intensifies in Korea’s digital payments market. At a press briefing Tuesday, the financial technology company said it currently has about 6 million monthly offline payment users and plans to accelerate growth through QR-based ordering services, merchant partnerships and artificial intelligence-powered payment features. “Our goal is to build inclusive payment in
MBK Partners, the South Korean private equity firm engaged in a prolonged control battle over Korea Zinc, has pushed back against concerns over potential Chinese influence following its decision to hire an additional US lobbyist to handle matters related to the US watchdog for foreign investment. According to US Senate lobbying disclosure filings, MBK’s Tokyo office recently hired The McKeon Group, known for its expertise in defense and national security affairs, to advise on “issues dealing wit
The US subsidiary of Mirae Asset Securities said Friday it would participate in the Tokenization Working Group hosted by the Depository Trust & Clearing Corp., the largest financial market infrastructure company in the US. The DTCC oversees key settlements and depositing infrastructure in the US capital market, leading discussions on stock market infrastructure development based on tokenization and standardization with global financial firms. Global names in finance and digital assets are partic
South Korean insurers' overseas profit jumped nearly 24 percent last year, but the gains came largely from Hanwha Life's expansion into banking and securities, underscoring how non-insurance deals are reshaping the industry's overseas earnings while core operations lose momentum. The Financial Supervisory Service said Thursday that local insurers' overseas operations posted a combined net profit of $197 million in 2025, up 23.8 percent from a year earlier. The figure covers 46 overseas units in
Kakao Bank's first-quarter profit climbed to a record after a valuation gain from its investment in Indonesia's Superbank offset weaker operating income. The digital lender said Wednesday that net profit rose 36.3 percent from a year earlier to 187.3 billion won ($128.5 million) in the January-March period. Operating profit fell 13.9 percent to 157.6 billion won, highlighting the role of non-operating gains in lifting its bottom line. The biggest boost came from Superbank, the Indonesian digital
South Korea's financial clearing agency plans to expand its cross-border QR payment network across Asia as the country modernizes digital payments and brings artificial intelligence deeper into financial services. "Our goal is to build QR payment services with as many countries as possible," said Chae Byung-deuk, president of the Korea Financial Telecommunications & Clearings Institute, during a meeting with Korean reporters Sunday in Samarkand, Uzbekistan, where he was attending the Asian Devel
The Export-Import Bank of Korea has signed a memorandum of understanding with the Asian Development Bank to support critical minerals projects and establish a joint financing platform, the bank said Sunday. Under the agreement, Eximbank will commit $500 million by 2029 through its supply chain stabilization fund to participate in ADB’s newly launched critical minerals-to-manufacturing financing partnership facility, which targets projects across the Asia-Pacific. Eximbank President and CEO Hwang
Posco Holdings said Sunday it has signed a stake investment deal in Australian lithium mines as it moves to strengthen its raw material supply chain for battery materials. The company said it had recently agreed to invest about $765 million in a lithium mining project with Mineral Resources, an Australian mining and mining services firm. The deal follows Posco Holdings’ announcement in November of its plan to invest in Australian lithium assets. Under the agreement, the two companies will establ
Woori Bank said Sunday it has completed an $825 million refinancing for a 950-megawatt combined-cycle gas turbine power plant in Trumbull County, Ohio, as the facility enters commercial operation. The project is a joint investment with Korea Southern Power Co., the Korea Overseas Infrastructure & Urban Development Corporation and Siemens Energy. Following the plant’s April 15 start-up, Woori led the refinancing of construction loans into long-term facility financing. The plant sits within the PJ
Chipotle bets on Korea for first bite of Asia
Samsung vs. LG battle for AI cooling heats up
Musinsa posts record earnings on offline, global expansion
One purchase every 0.9 second: Olive Young foreign sales top W1tr
Samsung, SK hynix tax payments surge 167% on chip boom
SK Chemicals eyes European can-coating market
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