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Finance

Banks

Wed, January 29, 2020 | 20:03

Hana Financial's plan to acquire insurer hits snag

Hana Financial's plan to acquire insurer hits snag

Hana Financial Group's plan to acquire The-K Non-Life Insurance is likely to slow down due to differences over what is seen as a possible restructuring of the insurer.

Kim Bo-eun | 2020-01-29 17:00

Foreign banks benefit from DLF, Lime catastrophe

Foreign banks benefit from DLF, Lime catastrophe

Most major Korean banks have become mired in a series of investment scandals involving the sale of high-risk, high-return products that have caused major losses for investors. This has led to many people seeking more reliable institutions to manage their assets. Foreign banks here, which are free from involvement in the DLF and Lime cases, have benefited from the situation.

Kim Bo-eun | 2020-01-29 16:59

IBK chief vows innovation, change

IBK chief vows innovation, change

Industrial Bank of Korea (IBK) CEO Yoon Jong-won finally attended his inaugural ceremony, Wednesday, 27 days after he was appointed to lead the state-run lender.

Park Jae-hyuk | 2020-01-29 16:07

New IBK chief Yoon finally allowed to attend office

New IBK chief Yoon finally allowed to attend office

Industrial Bank of Korea (IBK) CEO Yoon will be able to work from his office Wednesday for the first time in 27 days amid a fierce union protest. Yoon was named the new chief of the state-run bank earlier this month. But the union members blocked him from entering the IBK headquarters in Seoul, denouncing him as a “parachuted bureaucrat” without any practical experience in th...

Lee Min-hyung | 2020-01-28 17:02

KB workers dispatched to KakaoBank refuse to return

KB workers dispatched to KakaoBank refuse to return

All 15 KB Financial Group employees sent to KakaoBank four years ago have refused to return to their previous workplace despite attractive incentives from their previous employer, according to industry officials, Tuesday.

Park Jae-hyuk | 2020-01-28 16:15

Woori chief's task on Lunar New Year

Woori chief's task on Lunar New Year

Woori Financial Group Chairman Son Tae-seung responds to a customer call at an office in Seoul, Saturday. He worked for one day as a call center counselor, celebrating the Lunar New Year here. Courtesy of Woori Bank

Lee Min-hyung | 2020-01-27 17:03

Bank stocks to extend losing streak in 2020

Bank stocks to extend losing streak in 2020

Major bank stocks here are unlikely to bounce back in 2020, as unfavorable regulatory policies will continue holding back their interest income growth, according to experts, Monday. Revenue from loan interest has been a major cash cow for most banks here, but the government is planning to introduce more regulations to prevent investors in particular from getting additional mo...

Lee Min-hyung | 2020-01-27 17:03

Security guards flexing muscles against banks

Security guards flexing muscles against banks

Subcontracted security guards at commercial banks have begun to organize a union under the umbrella of the militant Korean Confederation of Trade Unions (KCTU) to urge banks to guarantee their rights, according to industry officials, Tuesday.

Park Jae-hyuk | 2020-01-26 09:24

Will Woori team up with PEF for Prudential takeover?

Will Woori team up with PEF for Prudential takeover?

Attention is growing over whether Woori Financial Group will join hands with a private equity firm (PEF) in the bid to take over Prudential Life Insurance Company of Korea.

Kim Bo-eun | 2020-01-23 17:39

Supporting vocational schools

Supporting vocational schools

Citibank Korea CEO Park Jin-hei, left, poses with JA Korea CEO Oh Jong-nam at the commercial bank's main branch in Seoul, Wednesday, after donating 350 billion won ($300,000) to the nonprofit organization. They agreed to use the money to help vocational school students find jobs. / Courtesy of Citibank Korea

Park Jae-hyuk | 2020-01-23 14:00

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