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Companies

Sat, July 2, 2022 | 21:15

Securities firms enjoy hefty dividend profits despite earnings fall

Korea's major securities firms enjoyed hefty dividend profits in the first quarter of this year by generating stable rewards from their assets. The companies will use them as a source of risk management amid the stock market doldrums. According to data from the Korea Financial Investment Association, the nation's 59 securities firms chalked up 501 billion won ($384.6 million)...

2022-06-23 16:16

Deloitte Korea acquires PRGATE to strengthen marketing capacity

Deloitte Korea officially signed a deal earlier this week to acquire PRGATE, a local communications and consulting company with expertise in setting up brand strategies. The move aims at strengthening its consulting and marketing capabilities so as to accelerate innovative growth potential.

Anna J. Park | 2022-06-23 15:47

Shinhan Bank to set up joint venture for SME-focused digital platform

Shinhan Bank has signed a deal to set up a joint venture aimed at a tailor-made banking platform for small and medium-sized enterprises (SMEs) in partnership with an information and communications technology (ICT) firm, the lender announced on Wednesday. It said the deal with Douzone Bizon is anticipated to offer financing assistance to prospective SMEs, which struggle with r...

2022-06-22 16:55

Korea's five crypto exchanges launch first alliance amid Luna fiasco

Korea's top five cryptocurrency exchanges have launched their first joint consultative body in response to growing calls for preemptive measures to protect customers from possible crypto-related fiascos. The so-called Digital Asset eXchange Alliance (DAXA), consisting of Upbit, Bithumb, Coinone, Korbit and Gopax, was launched on Wednesday aiming to drive the industry's sustai...

2022-06-22 15:52

Citibank Korea partners with KB, Toss for W8 trillion loan repayment

Citibank Korea has picked KB Kookmin Bank and Toss Bank to manage its existing debtors while its retail banking operation here undergoes a phased shutdown. The Korean subsidiary of the U.S. banking group said Wednesday that its retail customers can pay the interest and principal on their loans to KB and Toss from the beginning of July.

2022-06-22 15:47

KDB chief inauguration ceremony goes ahead amid union protests

Two weeks after being appointed to head state-run Korea Development Bank (KDB), Chairman Kang Seog-hoon finally held a delayed inauguration ceremony on Tuesday, vowing to communicate closely with the bank's workers regarding a government-led relocation plan to Busan. Unionized workers of the bank had been blocking the new chairman from entering the bank headquarters since his...

Anna J. Park | 2022-06-21 16:44

Financial regulator investigates Meritz Asset Management CEO

The Financial Supervisory Service (FSS) has been conducting investigations into Meritz Asset Management CEO John Lee over allegations that he violated a conflict of interest obligation when making an investment decision for his firm. According to the FSS, it carried out on-site inspections into the asset management company from May 23 to June 7.

Anna J. Park | 2022-06-20 17:27

Game stocks plunge amid interest rate hikes

The major game stocks nosedived at closing on Monday, as concerns over a global economic recession continue. Kakao Games, the largest market cap game company listed on the Kosdaq, ended Monday's session with a fall of 10.14 percent, finishing at 50,500 won ($39.10). Monday's closing price is the game company's new 52-week low price. Wemade, another major game company listed o...

Anna J. Park | 2022-06-20 17:27

Seoul shares, Korean won skid to yearly lows on recession fears

Hana Bank, health service assessment agency to expand ESG cooperation

Hana Bank has signed a memorandum of understanding with the government-affiliated Health Insurance Review and Assessment Service (HIRA) on its path to expand private-public sector cooperation in the practice of environmental, social and corporate governance (ESG) values in management, the lender announced on Sunday. Under the deal, Hana Bank will be responsible for HIRA's maj...

2022-06-19 16:17

Woori Financial holds 1st general meeting for ESG-focused foundation

Woori Financial Group Chairman and CEO Son Tae-seung, eighth from left, poses with Woori Bank CEO Lee Won-duk, seventh from left, and other CEOs of the banking group's affiliates during the inaugural general meeting of a charity foundation set up under the broader goal of supporting environmental, social and corporate governance (ESG) practices at Woori Financial Group's head...

2022-06-19 16:15

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