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Finance

Companies

Thu, July 7, 2022 | 16:59

Mirae Asset, Hyundai Card team up for private label credit card

Mirae Asset Securities will launch a private label credit card (PLCC) by teaming up with Hyundai Card sometime in the latter half of this year. This will mark the first time for a Korean securities company to sign a PLCC partnership with a local credit card business operator. A PLCC is a special credit card issued for customers who want to receive benefits with a certain bran...

Lee Min-hyung | 2022-05-25 16:58

Brokerage firms choose to sell buildings for higher profitability

With the country's real estate prices continuing to soar, major securities firms are choosing to sell their own buildings and remain as a tenant, so they can divert their profits to investment banking or prop up trading to yield higher returns. Shinhan Financial Investment is currently in negotiations with a consortium of IGIS Asset Management and KKR to sell its office build...

Anna J. Park | 2022-05-25 16:46

KakaoBank partners with 7-Eleven

KakaoBank has partnered with convenience store chain 7-Eleven for the first time, offering benefits for customers using Moneybox, a savings tool of the digital bank. The online-exclusive bank plans to partner with more business brands in various sectors so as to expand its influence further. Any customers of KakaoBank can register for the “Moneybox with 7-Eleven” partnership ...

Anna J. Park | 2022-05-25 16:46

Despite Luna fiasco, Wemade set to launch stablecoin

Wemade has reiterated its willingness to issue its own stablecoin despite increasing negative sentiment in the global cryptocurrency industry following the sudden collapse of once-prominent Terra and Luna coins. Chang Hyun-guk, CEO of the local games publisher, shared Tuesday the company's vision to push ahead with its earlier plan to launch the tentatively-named WEMIX Dollar...

Lee Min-hyung | 2022-05-25 15:48

KB Financial vows to expand partnership with Jefferies Financial Group

KB Financial Group said Tuesday its Chairman and CEO Yoon Jong-kyoo met with Brian Friedman, president of the U.S. investment banking company Jefferies Financial Group, to discuss consolidating their partnership to help the Korean firm expand its presence in the global investment banking industry. They will widen their partnership from the ongoing cooperation between KB Finan...

Yi Whan-woo | 2022-05-24 16:50

Kakao Pay strengthens ESG-focused growth strategies

Aiming to accelerate efforts toward sustainable management, Kakao Pay is launching an ESG preparation committee. According to the fintech firm, Tuesday, the CEO-controlled decision-making body will have 10 members - two independent directors and eight executives of the firm. It will become an official structure within the company board once it earns approval at a shareholders...

Anna J. Park | 2022-05-24 15:53

KB, Emart launch hybrid convenience store

Emart 24 and KB Kookmin Bank have partnered to open up a hybrid convenience store and commercial bank on Monday. Located in Cheongju, North Chungcheong Province, one third of the 100-square-meter store is occupied by the digital banking facilities of KB Kookmin Bank, while the rest is operated as a normal convenience store.

Anna J. Park | 2022-05-23 16:29

IBK chairman in consideration for Prime Minister's chief officer position: sources

Industrial Bank of Korea (IBK) Chairman and CEO Yoon Jong-won may well be the strongest candidate as the chief of Office for Government Policy Coordination, according to political and financial sources, Monday. Whoever fills the position will be responsible for assisting new Prime Minister Han Duck-soo to coordinate administrative issues.

Yi Whan-woo | 2022-05-23 15:05

Big-tech platform, game stocks hit 52-week lows

The stock prices of Naver and Kakao, the country's two representative big-tech platform companies, have been touching their 52-week lows, with institutional investors leading the fall by dumping their shares amid recent U.S. stock market plunges.

Anna J. Park | 2022-05-23 08:46

Hana Financial to widen support for aspiring young entrepreneurs

Hana Financial Group will expand nationwide support for university students who aspire to start their own business. The country's fourth-largest banking group said Sunday it signed a memorandum of understanding (MOU) with Korea National University of Cultural Heritage as part of a project named “Hana Social Venture University.”

Yi Whan-woo | 2022-05-22 16:54

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