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Fri, August 12, 2022 | 05:11

FSS to examine Korea Investment & Securities' trading system failure

Following a recent 15-hour system failure at Korea Investment & Securities earlier this week, the Financial Supervisory Service (FSS) has begun to look into the case, as the financial watchdog agency has been receiving reports of related facts from the brokerage company. The financial authority will decide whether to impose sanctions on the firm over the system failure, after...

Anna J. Park | 2022-08-11 16:11

MSCI appoints new head of Korea office

The Morgan Stanley Capital Index (MSCI) has appointed Eric Yun as the new leader of its Korea office. Yun will focus on expanding the MSCI's client base in Korea and drive its sales growth in the local market, the U.S. finance firm said. He took on the new role as the head of Korea client coverage at MSCI on Aug. 1

2022-08-11 14:42

Internet banks perform poorly in board gender diversity

Internet-only banks that have been vocal about their demand for innovation have turned out to be actually lagging behind their traditional peers in their environmental, social and corporate governance (ESG)-related efforts. They've been especially weak in fulfilling the governance factor. K bank and Toss Bank haven't even appointed any female independent board members yet, wh...

Anna J. Park | 2022-08-11 08:24

Woori Financial, WWF co-host circular economy conference

Woori Financial Group, jointly with the World Wildlife Fund (WWF), hosted a conference on circular economy in Seoul in line with the international green campaign, the lender said Wednesday. The circular economy refers to a concept that gives incentives to reusing products, rather than discarding them and then extracting new resources.

2022-08-10 16:29

Samsung's financial arms hit by earnings falls amid stock slump

Samsung's financial arms are forecast to report steep earnings declines amid the stock market slump and weak sales environment. According to data from market tracker FnGuide, Samsung's four financial affiliates, Samsung Life Insurance, Samsung Fire & Marine Insurance, Samsung Securities and Samsung Card, are estimated to have produced a combined net profit of 1.82 trillion wo...

2022-08-10 15:01

Korea Investment & Securities' trading system crippled by torrential rain

Following a half-day system failure due to heavy rainfall, Korea Investment & Securities' transaction system resumed operating on Tuesday. The brokerage vowed to compensate those whose stock trading had been hampered by the system failure. According to the firm, the system has been normalized as of 7 a.m. on Tuesday morning, some 15 hours after the company's home trading syst...

Anna J. Park | 2022-08-09 16:25

Carlyle CEO Kewsong Lee's sudden resignation draws attention

Carlyle Group Chief Executive Kewsong Lee, 56, stepped down from his post earlier this week, drawing market attention to his sudden resignation. The renowned Korean-American CEO's departure from his post came several months prior to the official termination of his five-year term, which is slated for the end of this year. Lee had also stepped down from the firm's board as well.

Anna J. Park | 2022-08-09 16:25

Banks capitalize on animated characters to appeal to more customers

Commercial banks are using animated cartoon characters to appeal to people's emotions and improve their brand image, in stark contrast to a decade ago when they mostly relied on celebrities in their promotional campaigns. Virtually every top-tier bank has iconic animated characters, including animals, fish and vegetables, which are developed to address their vision and princi...

2022-08-09 16:18

Hana Bank wins Digital Banking Award 2022 for mobile services

Hana Bank said Tuesday that it won a globally recognized award for its mobile banking service. The lender won in the mobile category of the Innovation in Digital Banking Awards 2022 from The Banker, a U.K. monthly magazine owned by the Financial Times.

2022-08-09 15:33

Coupang aims to strengthen profitability through financial biz

As Coupang has decided to enter the financial industry, launching Coupang Financial earlier this month, market watchers view the move as an attempt by the e-commerce firm to secure a stable cash cow business. According to the Financial Supervisory Service (FSS), Coupang Financial, a subsidiary of Coupang Pay, registered itself as a specialized credit financial business on Fri...

Anna J. Park | 2022-08-09 08:57

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