Shinhan to build landmark office tower for non-banking units
Shinhan Financial Group Co., South Korea's second-largest financial group, plans to build a new high-rise office tower in Seoul’s central busi...
Korean savings banks swing to loss after 9 years
South Korea’s savings banks turned to the red after nine years in 2023 as they put aside heavy reserves on future loan losses, with their loan...
Korea fines Doosan Enerbility $12 mn for improper bookkeeping
South Korea’s top financial regulator said on Wednesday it will fine local major power plant builder Doosan Enerbility Co. 16.1 billion won ($...
Daishin to sell its headquarters at $493 mn to NH-Amundi
South Korea’s Daishin Securities Co. is set to sell its headquarters office to NH-Amundi Asset Management Co. for 660 billion won ($492.6 mill...
Korea eyes $1.5 bn injection in KDB to boost chip, battery sectors
South Korea may inject some 2 trillion won ($1.5 billion) into Korea Development Bank (KDB) by the end of this month to support the state-run bank's...
Shinhan Bank, Indodana co-work on digital finance
Shinhan Bank announced on Friday that its Indonesian subsidiary Shinhan Bank Indonesia signed a strategic business agreement with PT Artha Dana Tekn...
Korea's Shinhan, Hana accelerate overseas push after record profits
South Korean major banks aim to accelerate their expansions in other countries as their overseas investments paid off with record profits last year ...
Daewoo E&C, Kuwaiti banks sign $250 mn loan agreement
Daewoo Engineering & Construction Co. has signed an agreement to take on a $250 million loan from three Kuwaiti banks, Al Ahli Bank of Kuwait (A...
South Korea, odd one out in new global gold rush
South Korea has remained muted to a new gold rush fueled by various central banks across the world gobbling up the precious metal, raising concerns ...
MBK’s Michael ByungJu Kim: Most influential in Korea’s capital market
Michael ByungJu Kim, co-founder and partner of Northeast Asia-focused private equity firm MBK Partners Ltd., has been chosen as the most influential...
Australian real estate debt, capitalizing on growth: Savills IM
The commercial real estate (CRE) debt market in Australia has grown rapidly over the last decade. According to the Australian Prudential Regulation ...
JPMorgan Chase’s growth driver: offline community branches
NEW YORK -- Global banking giant JPMorgan Chase & Co. has been expanding brick-and-mortar branches across the US with investments of billions of...
Woori Financial to sponsor MLB Seoul Series
South Korea's Woori Financial Group announced on Tuesday that it will be an official sponsor of the US Major League Baseball World Tour Seoul Series...
Indonesia's KB Bukopin rebranded as KB Bank
Bank KB Bukopin, an Indonesian subsidiary of KB Kookmin Bank, announced on Monday that it rebranded as KB Bank. The corporate name PT Bank KB Buko...
Hana Bank issues Hana Certification in 16 languages
South Korea's Hana Bank announced on Monday that it launched the Hana Certificate service in 16 languages. The service is available through the...
IMM PE sells $135 mn Woori Financial shares in block deal
IMM Private Equity has sold 180.5 billion won ($135 million) worth of shares in South Korea’s Woori Financial Group in a block deal, reaping 4...
Mubadala ties up with Korea’s Woori for global investments
Mubadala Investment Co., Abu Dhabi’s sovereign wealth fund, has joined hands with Woori Financial Group, South Korea’s fourth-largest fi...
Hana Bank, Fount to co-work for robo-advisor service
South Korea's Hana Bank announced on Tuesday that it has signed a business agreement with robo-advisor company Fount Investment Co. to launch a reti...
Korean banking groups see record-high loan losses in 2023
South Korea’s top four financial services groups – KB, Shinhan, Hana and Woori -- booked 1.97 trillion won ($1.5 billion) of loans as lo...
KB Kookmin Bank opens KB Prasac Bank in Cambodia
KB Kookmin Bank announced on Monday that it held an opening event for the integrated commercial bank KB Prasac Bank PLC in Phnom Penh, Cambodia, on ...
BOK likely to keep base rate unchanged until June: chief
South Korea’s central bank held its policy rate flat at 3.5% for a ninth straight session on Thursday as it was deemed too early for a rate cu...
Korean bank branch closures accelerate as online deals grow
South Korean banks are accelerating moves to close branches given the growth in digital transactions and decline in offline customers but financial ...
KB Financial posts record-high profit on loan growth
KB Financial Group and Kakao Bank, top players in South Korea’s offline and mobile banking sector, respectively, achieved their highest-ever p...
Doosan Enerbility faces record $15 mn in fines for improper bookkeeping
South Korea's major power plant builder Doosan Enerbility Co. faces a record-breaking fine to the tune of about 20 billion won ($15 million) over it...
Harim gives up HMM deal over management rights dispute
South Korea's leading poultry processor Harim Co. has walked away from a $5 billion deal to buy HMM Co., South Korea’s No. 1 ocean carrier, re...
Hana Bank at record profit; office bets hit Hana Securities
South Korea’s Hana Financial Group on Wednesday reported a dip in net profit in 2023, with record earnings at its flagship Hana Bank offset by...
Korean banks stop ELS sales after HSCEI debacle
South Korean banks are scurrying to suspend the sale of equity-linked securities (ELS) after the country’s financial regulator said it may con...
Private debt, infrastructure remain top picks for Korean LPs in 2024
Private debt and infrastructure will remain South Korean institutional investors’ favorite alternative asset classes for the second straight yea...
Korea needs population growth for sustainability: World Bank chief
World Bank President Ajay Banga said on Thursday that South Korea needs to boost population growth by easing the fierce competition in education and...
Harim, KDB in dispute over $5 bn HMM deal conditions
Talks to sell South Korea’s No. 1 ocean carrier HMM Co. to Harim Group, a leading poultry processor, have made little progress amid disputes o...
