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Finance

Banks

Fri, October 18, 2019 | 20:07

KEB Hana Bank wins innovation award for global payment system

KEB Hana Bank has won a globally recognized innovation award for its Global Loyalty Network (GLN) payment service, the bank said Friday. The award was given jointly by the European Financial Management Association (Efma) and consulting service giant Accenture.

Baek Byung-yeul | 2019-10-18 17:07

Digital transformation cooperation

Woori Financial Group Chairman Sohn Tae-seung, left, holds a memorandum of understanding (MOU) with SAP CEO Jennifer Morgan at the SAP Executive Briefing Center in New York, Thursday (local time). The two companies signed the MOU to cooperate in the digital transformation of corporate financing. / Courtesy of Woori Financial Group

Park Jae-hyuk | 2019-10-18 16:00

IMF warns of risks with Korea's banking system

The International Monetary Fund (IMF) has warned that Korea's banking system has become more vulnerable as its lenders are increasingly exposed to bad assets that have a high risk of turning sour.

Park Jae-hyuk | 2019-10-18 15:59

Woori suspends sales of ultra-high-risk products

Woori Bank will not sell ultra-high-risk financial products, such as derivative-linked funds (DLF) or equity-linked funds (ELF), until it finishes overhauling its asset management system, the company said Wednesday.

Park Jae-hyuk | 2019-10-16 16:11

Best private banker

KB Kookmin Bank Wealth Management Group head Kim Young-gil, right, receives an award from Asian Banker managing editor Boon Ping Foo at The-K Tower in Seoul, Wednesday. The Singapore-based journal specializing in the financial services industry selected KB as Korea's best private bank. The bank was also awarded for its trust and pension products. / Courtesy of KB Kookmin Bank

Park Jae-hyuk | 2019-10-16 16:11

Toss re-enters race for internet-only bank

The Toss consortium, which is led by the mobile money transfer app operator Viva Republica, joined the bidding to open the country's third internet-only bank, the Financial Services Commission (FSC) said Tuesday.

Park Jae-hyuk | 2019-10-15 15:59

Talks with startups

Shinhan Financial Group Chairman Cho Yong-byoung, front row center, poses with startup employees at L7 Hongdae Hotel in Seoul, Tuesday. Shinhan held its Uni-Talk event there to talk with startup owners supported by Shinhan Future's Lab startup accelerator program. / Courtesy of Shinhan Financial Group

Park Jae-hyuk | 2019-10-15 15:14

Kakao Bank seeks to raise capital next month

Kakao Bank, which has long suffered a decline in cash reserves, is seeking to increase capital next month, sources said Monday. The internet-only bank had originally planned to increase capital by issuing new stocks after buying back a 50 percent stake owned by Korea Investment Holdings.

Jhoo Dong-chan | 2019-10-14 17:33

KB Kookmin Bank CEO Hur Yin, right, poses after handing a gift and handwritten card to golfer Park Inbee at the lender's “Golf Concert” event at the Woo Jeong Hills Country Club in Cheonan, South Chungcheong Province, Friday. KB's VIP customers met with the golfer and learned golf tips at the event. / Courtesy of KB Kookmin Bank

Kim Bo-eun | 2019-10-14 16:08

For AI-based financial service

Shinhan Bank CEO Jin Ok-dong, left, and Naver Search & Clova CEO Shin Jung-ho hold a memorandum of understanding at the bank's main branch in downtown Seoul, Monday. The two companies agreed on a strategic alliance to enhance artificial intelligence-based financial services. / Courtesy of Shinhan Bank

Park Jae-hyuk | 2019-10-14 15:54

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