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Chairman Shin Yong-kil of the Korea Life Insurance Association (KLIA). The deferral of the effective date of IFRS 17 Insurance Contracts an additional year, to Jan. 1, 2023, has given insurance companies a sigh of relief. They now have another opportunity to accumulate additional capital, which will…
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Chairman Cho Yong-byoung of Shinhan Financial Group speaks at a general shareholders’ meeting at the group headquarters in Sejongdae-ro, Seoul, on March 26. Chairman Cho was reelected as chairman of the group. (Photos: Shinhan Financial Group) Chairman Cho Yong-byoung of Shinhan Financial Group has…
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President Moon Sung-yu of Korea Asset Management Corp. (KAMCO) and trade union head Kim Seung-tae participate in an event to join forces in overcoming a crisis, caused by the spread of COVID-19 on March 9. (Photos: KAMCO)Korea Asset Management Corp. (KAMCO) has played the part of economic safety net…
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President Wi Seong-bak of Korea Deposit Insurance Corporation (KDIC) and IBK President Yoon Jong-won pose after they signed an MOU at IBK headquarters in Seoul on Feb. 28. (Photo: KDIC)The relentless spread of the novel coronavirus is expected to put increasing pressure on debtors who are carrying o…
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KODIT Chairman Yoon Dae-hee listens to the voices of the management and employees at Kiseung Industrial Co., a car parts manufacturer in Daegu on April 9. (Photo: KODIT)The Korea Credit Guarantee Fund (KODIT) announced on April 13 that it was actively expanding guarantee-based support for small and …
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The Export-Import Bank of Korea holds a meeting presided over by Bang Moon-kyu (before the monitor at the center), chairman-president of the state-run Export-Import Bank of Korea in order to help Korean companies suffering from the spread of the COVID-19 virus with emergency financial support throug…
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An view of KDB headquarters in Yeouido, Seoul. (Photo: KDB)The Korea Development Bank (KDB) will buy 1.9 trillion won worth of corporate bonds in order to keep the Korean financial market stable in April. Corporate bonds of grade A or higher worth up to 200 billion won per company will be purchased …
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President Yoon Jong-won of the Industrial Bank of Korea (IBK) talks with the head of a small business struggling to cope with the damages, caused by the spread of COVID-19 on March 17. President Yoon Jong-won of the Industrial Bank of Korea (IBK) said, “The collapse of SMEs will have a greater impa…
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Shinhan Bank President Jin Ok-dong. (Photos: Shinhan Bank)Shinhan Bank President Jin Ok-dong stressed the importance of bold decision-making to challenge old methods that have been verified, saying established business plans need to be continuously reviewed and reevaluated. President Jin made the re…
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Chairman Yoon Jong-kyoo of KB Financial Group. (Photo: KB Financial Group)KB Financial Group will acquire Prudential Life Insurance’s Korean unit. The financial group held a board of directors’ meeting on April 10 and approved its acquisition. KB Financial Group struck a sales and purchase agreeme…
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A drone is used to manage expressway bridges. (Photos: KEC)Korea Expressway Corp. (KEC) has developed a drone designed to manage expressway bridges in which human access is not easy in a safe and efficient fashion. The corporation plans to conduct in…
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(from left) Chairman Yoon Hoo-deok of the Strategy and Finance Committee,; Chairman Youn Kwan-suk of the National Policy Committee,; Rep. Byun Jae-il of the ruling Democratic Party,; Chairman Min Hong-chul of the National Defense Committee.(from left…
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Commissioner Lee Won-jae of Incheon Free Economic Zone Authority (IFEZA), Han In-suk, head of Songdo bio Convergence Center and others attend a ceremony in which IFEA signed an MOU to boost R&D of Sondo bio cluster and the industry ecosystem with…
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Commissioner KimYong-rae of the Korean Intellectual Property Office (KIPO).The number of patent and trademark applications hit a new high in the third quarter of this year. The Korean Intellectual Property Office (KIPO) said on Oct. 19 that the numbe…
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