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Economy/Finance
The Korea Financial Investment Association (KOFIA) and KOTRA signed an MOU on May 16 at the JW Marriot Hotel in downtown Seoul to speed up the globalization of Korean financial investment firms as well as cross-border M&As for Korean SMEs abroad, the two business associations said recently.The t…
Chairman Kim Jung-tae of Hana Financial Group made clear that the Korea Exchange Bank (KEB) will be a member of Hana Financial Group and, therefore, the group will meddle in its management as a holding company would with any affiliate of the group.Chairman Kim’s statement is designed to clear up a …
Woori Financial Group’s total financial assets amounted to 403 trillion won at the end of the first quarter this year, exceeding the 400 trillion won level for the first time among all financial groups in Korea, solidifying its position as the nation’s largest, the group said recently.The group sa…
KDB Financial Group has launched a study to export the Korea Development Bank’s growing experience as a state-run development financing bank that supported the rapid development of Korean industry to African nations, the group said recently.The key purpose is to help with the economic development o…
Mirae Asset Global Investments recently commenced operations since the completion of its merger with Mirae Asset MAPS Global Investments, its sister company specialized in alternative investments. Mirae Asset Global Investments, led by Vice Chairman Koo Jae-sang, 45, has become an undisputed po…
Kyobo Life Insurance Co. on May 4 hosted a reception at Lotte Hotel in Seoul for heads of asset management firms including foreign asset management firms in Seoul such as Goldman Sachs, Templeton and KTB Asset Management totaling 22 at the invitation of Chairman Shin Chang-jae. The occasion too…
Korea Life Insurance has been predicting that diverse retirement fund and guarantee type life insurance products in the age of an aging population would become key products in the life insurance industry this year and plans to introduce its own products to go with the market trends, the life insurer…
Korea Credit Guarantee Fund said on March 29 it has issued a collateralized bond obligation (CBO) worth 415.1 billion won for the first time to support SMEs and construction firms in securing funds, with 280.1 billion won going to support SMEs.The Fund said the issuance is part of the 1 trillion won…
NH Bank declared “ethical manage-ment” as its guiding theme at a ceremony on April 26 attended by some 300 officers including executives, department managers and staff of the bank.The bank plans to perform its operations including services based on honesty and trust among its customers in an ethic…
Industrial Bank of Korea announced on May 9 that it will reform the remittance fee system by removing all fees regardless of the amounts of money remitted, although it charged 1,000 won on funds in excess of one hundred thousand won. IBK at the same time will enter the financial market in Indon…
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Policy/Politics
Deputy Chairman Jeong Eun-bo who also serves as Chairman of the Securities and Futures Commission, right, presides over a recent meeting of the Fintech Development Council.(Photo: FSC) South Korea launched the world’s first Fintech Open Platform to…
Mayor Song Gi-sub of Jincheon County, Chungcheongbuk-do. Mayor Song Gi-sub of Jincheon County, Chungcheongbuk-do, celebrated his first anniversary in office on April 14. Keen attention was the focus of Mayor Song, who served as the administrator of …
Director Ahn Joon-ho of the Tourism and Sports Bureau of the Seoul Metropolitan Government. Director Ahn Joon-ho of the Tourism and Sports Bureau of Seoul City Administration said the city will push the so called March 21 Measure, a tourism revival …
Gov. Lee Ju-yeol of the Bank of Korea.(Photo: BOK) The Bank of Korea revised up this year's growth forecast to 2.6 percent from the previous 2.5 percent estimated three months earlier, as both exports and private consumption showed signs of improvem…


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