ISS supports Shinhan Financial Group chairman nominee

Proxy adviser Institutional Shareholder Services Inc. (ISS) is supporting the appointment of Shinhan Financial Group chairman nominee Jin Ok-Dong as...

KEXIM bank inks $6 billion financing deal with Aramco

The Export-Import Bank of Korea said on Tuesday it has signed a three-year framework agreement with Saudi Arabian Oil Co.(Aramco), to provide up to ...

S.Korea-Indonesia central banks renew currency swap agreement

Central banks of South Korea and Indonesia renewed a bilateral local currency swap arrangement to keep supporting trade and financial cooperation fo...

S.Korea's K Bank posts highest net profit in 2022

K Bank, a South Korean Internet-only bank, reported a net profit of 83.6 billion won ($63.6 million) in 2022, which nearly quadrupled compared to th...

S.Korean EV charger maker lands $770 mn export deal in North America

South Korea's Moderntec, an electric vehicle (EV) charging solutions company, on Wednesday said it signed a three-year export contract with a partne...

BOK holds rates as it lowers growth, inflation forecasts

South Korea’s central bank held its policy interest rate unchanged on Thursday as it slashed forecasts for economic growth and inflation altho...

S.Korea sees first decline in household loans in 20 years

Household loans in South Korea last year fell from 2021 for the first time in 20 years because of high interest rates, but credit card debt hit a re...

Korea's Yoon presses banking, telecom sectors over inflation

South Korean President Yoon Suk-yeol on Wednesday called for measures to stabilize mounting price pressure caused by "oligopolies" in the banking an...

KB Securities launches AI-based RoboNews on US stocks

South Korea's KB Securities announced the launch of KB RoboNews on Monday, a cutting-edge artificial intelligence (AI) service that provides insight...

S.Korea's banks see deposits plummet $35.5 billion in Jan

Banks in South Korea last month saw deposits plummet over 45 trillion won ($35.5 billion) from the previous month due to a decline in deposit intere...

Shinhan Financial returns to top in Korea with record NP in 2022

Shinhan Financial Group Co. reported a record-high net profit of 4.6 trillion won ($3.6 billion) last year, snatching back the crown of South Korea&...

Kakao Bank announces record-high performance in 2022

South Korea's KakaoBank Corp. on Wednesday said its net profit last year reached a record-high 263.1 billion won ($208.6 million), up 28.9% from 202...

Industrial Bank of Korea goes all in with Eastern Europe push

Industrial Bank of Korea (IBK) will open an office in Poland in the first half of this year, with analysts saying the bank's president Kim Seong-tae...

S.Korea's online K Bank withdraws plan for Kospi listing

South Korea's K Bank has withdrawn its highly anticipated plan to hold an IPO this year in the judgement of a lower corporate value due to the slugg...

KB Financial Group holds investment conference via metaverse

South Korea's KB Financial Group on Tuesday presented its investment philosophy to individual and institutional customers in the metaverse, a three-...

South Korea's Jeju Air to open up Indonesian skies

Jeju Air Co. and Indonesia's largest airline corporation will work together to develop flight routes and discover new tourism business opportunities...

BC Card signs strategic partnership deal with Mongolian Central Bank

South Korea's credit card issuer BC Card said on Monday that it has signed a strategic partnership deal with the Bank of Mongolia.With this collabor...

Woori Bank's Vietnam subsidiary reports record-high performance

Woori Bank Vietnam, South Korean lender Woori Bank's local subsidiary in Vietnam, had heydays last year, tiding over the aftermath of the COVID-19 o...

Bank's retirement pension soars 15% to $107 bn last year

Retirement pensions at banks in the fourth quarter of last year emerged as a haven for money that tried to generate a stable return, shunning away f...

KB Financial recognized as global sustainability leader

South Korea's KB Financial Group was selected as one of the "Global 100 Most Sustainable Corporations in the World" list announced by Corporate Knig...

Kookmin Bank launches foreign currency trading platform KB Star FX

South Korea's largest lender Kookmin Bank on Monday launched its new contactless platform for foreign exchange transactions dubbed KB Star FX.The on...

Bank of Korea gives bearish outlook after rate hike

South Korea’s central bank on Friday raised interest rates by a quarter point to 3.5%, while signaling a further cut in its economic growth fo...

Kookmin Card acquires Cambodian leasing firm at $5.2 mn

KB Kookmin Card, a credit card unit of KB Financial Group, and its Cambodian local subsidiary KB Daehan Specialized Bank, acquired the Southeast Asi...

Woori Bank Launches 3D-based metaverse pilot service

Woori Bank launched a 3D-based metaverse pilot service, the bank said on Friday.The bank will provide two services, one for interaction with small b...

Foreigners turn net buyers of Korean stocks as China reopens borders

South Korean stocks are gaining momentum at the beginning of the new year as foreigners have turned net buyers on expectations of China's border reo...

KEXIM bank issues $3.5 billion in foreign currency bonds

The Export-Import Bank of Korea on Thursday said it issued a record-high $3.5 billion in global bonds to investors worldwide.The government-run bank...

Shipbuilding expected to lead manufacturing sectors in export growth

South Korea's shipbuilding exports this year are expected to jump 76.1% from last year to $32.4 billion to lead all major manufacturing industries i...

Hotels in top Seoul tourist area on sale due to rate hikes

South Korea's KB Asset Management Co. is set to sell two three-star hotel buildings in Myeong-dong, one of the most popular spots for foreign touris...

Korean banks must increase total shareholder returns: Align Partners

South Korean private equity firm Align Partners Capital Management Inc. is set to lead shareholder activism against the country’s top financia...

Shinhan Bank to completely scrap mobile, online balance transfer fees

Beginning on New Year's day, Shinhan Bank started waiving all balance transfer fees to other bank accounts and automated transfer fees for its mobil...