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Thu, July 7, 2022 | 17:15

Vietnam emerges as strategic overseas partner for IBK, Hana

The Industrial Bank of Korea (IBK) and Hana Bank are moving to expand their footing in Vietnam due to the huge growth potential of the country's retail banking industry. Korea's major commercial lenders - such as Shinhan Bank and Woori Bank - are already operating subsidiaries in Vietnam and generating stable revenues there.

2022-07-04 16:34

KB Financial chairman hosts meeting to chart path for 2nd half

KB Financial Group Chairman and CEO Yoon Jong-kyoo hosted a strategic meeting to discuss the policy and management direction of the country's largest banking group for the second half, the company announced on Sunday. It said the meeting at Grand Walkerhill Seoul hotel in Seoul, Friday, was attended by all 270 executives of the company, focusing on how to enhance unity and ch...

2022-07-03 16:36

Institutional investors dump Samsung shares amid macroeconomic uncertainty

Institutional investors are engaging in a selling spree of Samsung Electronics shares on protracted fears of an economic recession here and abroad. Samsung shares hit a 22-month low of 55,900 won ($43.13) at one time on Friday. The Samsung fall also dragged down the KOSPI. The main bourse narrowly defended the 2,300-point mark, closing at 2,305.42, down 1.17 percent or 27.22 ...

2022-07-02 09:37

Shinhan intensifies rivalry with Kakao in digital insurance

Competition is intensifying between Shinhan Financial Group and Kakao in the nascent digital insurance market amid sluggish growth in the conventional insurance market. The financial holding firm launched its 16th subsidiary - Shinhan EZ General Insurance - on Friday. The company was formerly known as BNP Paribas Cardif General Insurance. Shinhan acquired the firm last Novemb...

2022-07-01 17:02

IBK CEO seeks to help small Korean firms expand in Vietnam

Industrial Bank of Korea (IBK) CEO Yoon Jong-won met officials of key state-run and private financial firms in Vietnam to bolster cooperation for greater financing and business expansion opportunities for Korean local ventures and startups, the state-run lender said Friday.

2022-07-01 17:00

How will Korea-Lone Star dispute end?

A multi-billion-dollar suit filed by U.S. private equity firm Lone Star against the Korean government is drawing to an end, drumming up interest over how it will turn out after a 10-year legal battle. For the Korean government, losing the suit could mean having to pay $4.67 billion to Lone Star in compensation as the American company has demanded.

2022-06-30 16:50

Shinhan chief cleared of corruption charges

Shinhan Financial Group Chairman Cho Yong-byoung has overcome a major legal hurdle and has extended his term at Shinhan, as the Supreme Court acquitted him on corruption charges in relation to the lender's employee hiring practices. The court issued the ruling on Thursday, thereby clearing the way for the Shinhan chief to serve for a third term.

2022-06-30 16:42

Lotte Card joins UN Global Compact

Lotte Card has joined the United Nations Global Compact (UNGC) in an effort to strengthen its environmental, social and corporate governance (ESG)-based management activities. According to the firm, Thursday, the card company joined the U.N.-backed voluntary governance framework, which is based on CEO commitments to implement universal sustainability principles and take steps...

Anna J. Park | 2022-06-30 16:41

NongHyup Financial strengthens ESG vision

NongHyup Financial Group Chairman Son Hyun-hwan stressed the importance of the environmental element out of the so-called environmental, social and corporate governance (ESG) management principles, urging group subsidiaries to better cope with the challenges caused by climate change. NongHyup Financial announced Thursday that it held its Social Value and Green Finance Committ...

Anna J. Park | 2022-06-30 16:17

Hana Financial Group launches internship program for youth and social enterprises

Hana Financial Group has launched an internship program that aims at promoting the mutual growth of young jobseekers and social enterprises. According to the group, the Hana Power On Innovative Firm internship aims at building a bridge between innovative enterprises and young jobseekers.

2022-06-30 14:27

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