Woori Financial to bolster private banking service: chairman
Woori Financial Group, South Korea’s fourth-largest financial holding company, will reinforce its wealth management service for high-net-worth...
Toss Bank launches commission-free foreign exchange services
South Korea’s fintech platform Toss Bank said on Thursday it has launched commission-free foreign exchange services for the first time as a do...
BOK hints at policy rate peak but in no hurry to cut rates
South Korea’s central bank on Thursday hinted its policy rate may have peaked after leaving the rate unchanged for the eighth straight meeting...
The North Face supplier Youngone lends $177 mn to Scott
Youngone Corp., a South Korean clothing manufacturer to global outdoor brands like The North Face and Patagonia, said on Thursday it has decided to ...
South Koreans expect inflation to slow, relief to BOK’s hawkish stance
South Koreans expect inflation to slow over the next 12 months, providing relief to the central bank’s hawkish stance that policy rates should...
Gov Rhee Chang-yong turning BOK into dynamic central bank
Bank of Korea (BOK) Governor Rhee Chang-yong has transformed the central bank into a dynamic monetary authority by cooperating with not only oversea...
Yen deposits at Korean banks surge to record $9.9 bn
Yen deposits at South Korean banks grew by the largest-ever monthly amount in November to a record $9.92 billion, central bank data show, as investo...
Korean banks enjoy robust earnings in Asian emerging markets
Four major banks in South Korea are enjoying healthy earnings from overseas businesses, particularly in Asian emerging markets.KEB Hana Bank posted ...
BOK chief says rates need to stay high for over 6 months
South Korea’s central bank chief on Thursday said interest rates will have to stay high for more than six months, leaving the door open for an...
Korean ELS investors biting nails over sharp falls in Hong Kong shares
Chinese shares listed on the Hong Kong bourse have fallen sharply so far this year, placing the city’s main stock index, the HSCEI, among the ...
S.Korea to pour $26 bn in UK’s renewables, infrastructure
South Korea’s sovereign wealth fund, banks and other private sector companies plan to pour £21 billion ($26.3 billion) in renewables, in...
Woori Bank Vietnam opens PB branch in Hanoi
South Korea's Woori Bank revealed on Tuesday that the Vietnamese corporation Woori Bank Vietnam opened its 22nd branch in Starlake, Hanoi. Star...
Windfall tax on Korean banks to create quintuple burden
Koreans are piqued by banks raking in extraordinarily handsome profits and handing out generous bonuses amid the high-interest rate environment that...
Goldman Sachs promotes YK Yoon in Seoul to MD
The Goldman Sachs Group Inc. named YK Yoon, head of fixed-income, currency and commodities (FICC) of the Seoul office, as a new managing director (M...
Woori Bank opens regional headquarters in Bangladesh
South Korea's Woori Bank announced on Friday it opened its new regional headquarters in Bangladesh. In 1996, the bank launched its first branch...
Korea Investment raises $400 mn to expand US assets
Seoul-based brokerage firm Korea Investment & Securities Co. (KIS) has raised $400 million in new bonds to strengthen its investments in the US ...
Korea plans wider crackdown on foreigners’ short-selling
South Korea’s financial regulator plans wider investigations into illegal short-selling trades by major foreign investment banks to ease conce...
Woori Bank to add two new branches in India 2024
South Korea's Woori Bank plans to open two new branches in India in the first half of next year. The bank announced on Tuesday it has obtained ...
S.Korea’s Q3 GDP up 0.6% on-quarter on recovery in exports
South Korea’s economy in the third quarter grew 0.6% from the previous quarter, extending a growth streak to three consecutive quarters on a r...
KB Financial beats profit forecast on higher interest rates
KB Financial Group Inc., South Korea’s top financial holding company by assets, on Tuesday reported better-than-expected net profit in the thi...
BOK chief says inflation may ease more slowly than expected
South Korea’s central bank chief on Thursday said inflationary pressure in Asia’s fourth-largest economy may ease more slowly than earli...
Bank Woori Saudara to open 160th Indonesian branch
South Korea's Woori Bank announced on Wednesday its Indonesian subsidiary Bank Woori Saudara is set to open a new outpost in Pekanbaru, Sumatra's Ri...
Korea Inc.’s record short-term borrowing raises specter of debt overhang
South Korea’s short-term corporate loan growth is picking up at a fast pace, stirring concern among some analysts who see parallels to the 200...
HSBC, BNP Paribas to be fined for naked short sales in S.Korea
South Korea's Financial Supervisory Service (FSS) will fine the Hongkong and Shanghai Banking Corporation Ltd. (HSBC) and Bank BNP Paribas the large...
KakaoBank to acquire 10% stake in Super Bank Indonesia
South Korea's KakaoBank Corp. announced on Tuesday its decision to invest in Indonesia's digital banking entity PT Super Bank Indonesia.This move ...
Dollar/won in wildest swing in 13 yrs despite intervention
The South Korean won suffered its wildest fluctuation against the dollar this year since 2010, shrugging off heavy dollar-selling intervention by lo...
Korean banks go digital in Southeast Asia for non-interest gains
South Korea’s top four banks are strengthening their overseas operations, particularly in the digital banking business, to increase their non-...
Korean Hana ties up with Saudi EXIM Bank for Middle East biz
Hana Financial Group, South Korea’s third-largest financial holding company, joined hands with the Saudi Export-Import Bank to expand its mark...
Net-zero by 2050 will hit S.Korea’s economic growth: BOK
The net zero emission target by 2050 is forecast to lower South Korea’s economic growth rate by an average of 0.6 percentage point per year ...
KT provides digital document storage for Shinhan Bank
South Korea's KT Corp announced on Friday the launch of a new digital document storage service at Shinhan Bank, linking with a public electronic doc...
