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...

Standard Chartered's director attributes ESG success to board-led decisions

When it comes to the banking sector's environmental, social, and governance (ESG) efforts, an industry veteran says the success depends on the chief...

85% of S.Korea's Gen MZ have contactless savings accounts

A study finds 90% of South Korea's Generation MZ, a demographic comprising millennials and Generation Z members born between 1981 and 2010, use cont...

US non-agency mortgage-backed securities to shine in 2023: TCW

Amid the tightening of the Federal Reserve, among the most impacted asset classes were agency mortgage-backed securities (MBS), issued by US governm...

Buying a home in Seoul becomes tougher in 2021

Saving income to buy a house in South Korea has become more difficult and taking longer, according to a report by the Ministry of Land, Infrastruc...

KEXIM to provide $1.2 bn project financing for Indonesian refinery project

The Export-Import Bank of Korea (Eximbank) announced on Friday that it has signed a $1.2 billion project financing agreement with the Indonesian sta...

Hana Bank signs agreement for 24-hour forex trading

Hana Bank said on Friday that it signed a strategic memorandum of understanding (MOU) with Toss Securities for 24-hour foreign exchange trading at t...

Korea Shinhan Financial taps banking unit head as group CEO

Shinhan Financial Group appointed the head of its flagship banking unit as the group’s next chief executive officer as the major South Korean ...

Industrial Bank of Korea provides Silicon Valley-style financing for startups

Industrial Bank of Korea (IBK) on Friday launched the IBK Venture Loan, which provides bridge loans to promising startups struggling to borrow funds...

KEPCO raises $368 mn via bond issuance on heated demand

Korea Electric Power Corp. (KEPCO) saw on Nov. 27 around 1.7 trillion won ($1.3 billion) worth of investor bids for its bond issuance targeting 400 ...

KEPCO turns from bonds to banks for money on govt plans

Korea Electric Power Corp. (KEPCO) is set to raise 600 billion won ($442 million) from a local bank in a plan to seek loans to secure money instead ...

KEB Hana secures 6% stake in Onmind, part of SK Square's porfolio

SK Square Co. announced on Monday that Onmind Inc., one of its portfolio companies, raised 2 billion won ($1.5 million) from KEB Hana Bank. The...

FTX implosion disrupts interest issuance by GOPAX product

The implosion of the Bahamas-based crypto exchange FTX is causing ripple effects around the world, and South Korea is no exception.Seoul-based cry...

Korean brokerages' restructuring targets investment banking units

South Korea’s small- and mid-sized brokerage houses have begun their workforce reductions ahead of the end of the year. The brokerages are set...

Lotte to spend $651 mn to save affiliate from Legoland woes

Lotte Group is set to inject a total of $651 million through its chemical units to save a construction affiliate from the fallout of a debt default ...

Korea's stock deposits dip to lowest point since July 2020

Monthly average deposits for stock investment in South Korea are poised to drop below 50 trillion won ($35.1 billion) for the first time since July ...

BOK to ease Legoland developer default-led credit crunch

South Korea’s central bank joined rescue moves to improve liquidity in the local bond market and alleviate the fallout from a debt default by ...

Korean banks log record profits on rising interest rates

South Korea’s major financial groups enjoyed record quarterly earnings as higher policy interest rates increased lending rates, powering the p...

SK On raises $2 bn in bank loans for Hungary plant

SK On Co., a South Korean battery maker, has raised $2 billion in bank loans to build its third plant in Hungary, a regulatory body said on Thursday...

Banks' term deposits attract largest sum in 20 yrs

A fresh 36.4 trillion won ($25 billion) was placed into bank accounts in South Korea in September, whereas 12.4 trillion won ($8.6 billion) was with...

Korean corporate bond issuance hits 2022 monthly low in September

South Korean corporate bond issuance in September hit a monthly low this year on souring investor sentiment due to interest rate hikes.Corporate bon...

Internet lender K Bank gets green light for IPO

South Korea’s first internet-only lender K Bank on Tuesday received preliminary approval from the Korea Exchange to go public on the country&r...

Rising utility bills add to Korea’s inflationary pressure

South Korea may raise utility bills after scheduled hikes in the coming months, adding to inflationary pressure in Asia’s fourth-largest econo...

Lotte Card draws bid from Hana as key candidates back off

South Korea's Lotte Card Co. has drawn preliminary bids from Hana Financial Group, a leading banking group in the country, and two to three unidenti...

Private equity firms buys shipbuilder Daehan for $150 mn

A South Korean private equity consortium has acquired Daehan Shipbuilding Co., a small-size oil tanker manufacturer, for around 200 billion won ($15...

BOK chief: S.Korea won't keep pace with Fed’s interest rate hikes

JACKSON HOLE, Wyo. -- The Bank of Korea plans to raise interest rates until inflation falls to its target level but won't keep pace with the US Fede...

Startup accelerator D.Camp marks 100th demo day

Startup accelerator D.Camp’s demo day event dubbed D.Day celebrated its 100th event on Thursday. The first D.Day event was held in June 2...

BOK delivers fourth straight rate hike as inflation persists

South Korea’s central bank on Thursday delivered its fourth interest rate hike in a row for the first time in its history as the monetary auth...

DSME delays $1.7 bn interest payment to Export-Import Bank

Major South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering Co. (DSME) is facing harsh criticism that it has benefited from delaying...

KIC appoints Lee Hoon as CIO and Jung Ho-seok as CRO

Korea Investment Corporation (KIC) said on Wednesday it has promoted Lee Hoon, its former head of investment strategy and innovation division, to th...