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Reporter : Lee Yeon-woo
Fri, September 22, 2023 | 23:48
Inflation eased to 21-month low in June, signaling key interest rate freeze
Consumer price rises in Korea fell below 3 percent for the first time in 21 months this June, marking a fifth consecutive month of deceleration. As the figure signals a cooling of inflation, experts think the key interest rate will likely be maintained at its current level in the forthcoming monetary policy meeting.
KB to announce shortlist for chairman next month
KB Financial Group is accelerating its succession process as the current chairman's term is set to expire this November. The planned timeline involves convening an executive recommendation committee next month, narrowing down a shortlist and selecting the final candidates in September.
Cho Byung-kyu assumes leadership at Woori Bank
Cho Byung-kyu, a former CEO of Woori Financial Capital, officially assumed the helm of Woori Bank on Monday. He will serve in the position until December 2024.
Hana joins hands with Indonesian university to nurture global finance experts
Hana Financial Group signed a memorandum of understanding (MOU) with BINUS University, one of the top private universities in Indonesia, to nurture global experts for the financial industry, according to the group, Monday.
Shinhan Bank, BC Card partner to upgrade Vietnam's card payment system
Shinhan Bank announced on Friday that its subsidiary in Vietnam has signed a memorandum of understanding with BC Card to enhance the credit card payment system in Vietnam.
Eximbank, JBIC agree to cooperate on third-country infrastructure projects
The Export-Import Bank of Korea (Eximbank) has teamed up with the Japan Bank for International Cooperation (JBIC) to strengthen financial cooperation in infrastructure projects in third countries.
Legal barriers impede expansion of Korea's pet insurance market
One in four Korean households include pets and that number is only expected to grow. Yet, unlike other relevant markets showing continuous growth, insurance firms are struggling to expand the pet insurance market.
Samsung Pay app integrates student ID cards for verification services in 114 countries
Samsung Pay users can now use their International Student ID Card (ISIC) within the Samsung Pay application, the top mobile payment player announced on Thursday.
Chinese subscribers cause health insurance deficit
Foreign subscribers paid more into the health insurance system than the benefits they received last year, but when it comes to Chinese subscribers, the benefits surpassed their payments.
Will deposit insurance cap be raised?
Discussions are gaining momentum around the idea of raising the cap on the country's state-led deposit insurance coverage, which has remained at 50 million won ($38,270) per person since 2001. According to sources and media reports, the Korea Deposit Insurance Corporation (KDIC) held closed-door meetings last Wednesday and Friday with banks, savings banks and insurance firms....
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