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Thu, July 7, 2022 | 17:17

Korea may ease rules to allow banks to invest more in non-financial firms

Since Financial Services Commission (FSC) Chairman nominee Kim Joo-hyun has said it's time to reexamine the country's long-held separation of industrial and financial capital, the local banking industry is expecting a favorable policy direction from the new leader of the top regulator.

Anna J. Park | 2022-06-10 16:15

KB Financial builds global reputation with net zero campaign

KB Financial Group is building a global reputation as Korea's leading banking group, with its green campaigns under the leadership of Chairman and CEO Yoon Jong-kyoo. The company announced Friday that Yoon has been appointed as a member of the Glasgow Financial Alliance for Net Zero's (GFANZ) advisory board for the Asia-Pacific region.

Yi Whan-woo | 2022-06-10 15:46

Shinhan set to launch digital non-life insurance business

Shinhan Financial Group is one step closer to starting a digital non-life insurance business after obtaining regulatory approval to incorporate BNP Paribas Cardif General Insurance as a new subsidiary. Shinhan is set to transform the company into a digital non-life insurer soon. The financial holding firm acquired a 94.56-percent stake in BNP Paribas Cardif for 41 billion won...

Lee Min-hyung | 2022-06-10 08:41

Kakao Pay becomes available in Singapore

With its global partnership with Alipay+, Kakao Pay became available at offline stores and for services in Singapore earlier this month. Alipay+ is Ant Group's global cross-border payment and marketing service that connects offline merchants with mobile payment app users. “Kakao Pay joins hands with Alipay+, aiming to provide convenient payment experiences for users on their ...

Anna J. Park | 2022-06-09 16:25

Hahn & Co. buys SK Group's PET film business for $1.3 billion

Hahn & Co., the second-largest private equity firm in Korea, announced Thursday that it has signed a definitive agreement, or a stock purchase agreement (SPA), to acquire a 100-percent stake in SKC's polyester (PET) film business for 1.6 trillion won ($1.3 billion). The acquisition is expected to be completed by the end of the year, as SKC plans to hold a special shareholders...

Anna J. Park | 2022-06-09 15:56

Shinhan Bank runs fan voting for KBO All-Star game

Shinhan Bank, jointly with the Korea Baseball Organization (KBO), is running fan voting for the KBO All-Star game scheduled for July 16.The title sponsor of the country's professional baseball league, the bank said that the poll opened on Wednesday and will collect votes until July 3..

Yi Whan-woo | 2022-06-09 15:51

Hana Bank signs agreement to support firefighters

Hana Bank signed an agreement to support firefighters and the children of firefighters who died on duty. According to the bank, it signed an agreement with Stump Foundation for Youth and the National Fire Agency at the bank's headquarters in downtown Seoul, Thursday, to help support firefighters and their families.

Yoon Ja-young2022-06-09 15:00

Kakao Pay shareholders perplexed by Alipay's block deal

Small shareholders of Kakao Pay are suffering from plunging stock prices, following news that the firm's second largest shareholder sold off five million shares in a block deal. The stock price ended at 89,500 won ($71.23), falling 15.57 percent on Wednesday, as the company officially disclosed earlier in the day that Alipay Singapore Holding - the second largest shareholder ...

Anna J. Park | 2022-06-09 08:41

New KDB chairman faces bumpy road ahead

New Korea Development Bank (KDB) Chairman Kang Seog-hoon is facing a bumpy road with a series of politically sensitive - as well as long-pending - issues awaiting him. Kang was barred from entering his office on his first day of work in Yeouido, Seoul, Wednesday, as unionized members of the KDB were protesting his appointment.

Yi Whan-woo | 2022-06-08 16:26

Hanwha unveils new ESG plan

Hanwha Life Insurance has unveiled its mid-term environmental, social and corporate governance (ESG) management roadmap, with a view to building a more solid foundation for sustainable growth. Under the slogan of Green Life 2030, the company set three core strategies for its new ESG management plan. They include twofold growth in eco-friendly and prosocial investments, a 40-p...

Lee Min-hyung | 2022-06-08 15:54

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