The incumbent chairman of Hana Financial Group is seeking a fourth term, which would make him, if elected, the longest-serving chief of a financial institution in South Korean history. Hana Financial Group on Monday evening confirmed the nomination of four candidates for the group’s top post, including Chairman Kim Jung-tai, who has been at the helm of the group since 2012. 　 Kim publicly said last year that he wouldn’t be reluctant to give up the chairmanship. But Kim being sho

The state-run lender Korea Development Bank said Tuesday it was working with the Ministry of Environment to foster a standardized framework for its green bond issuance in a bid to cut greenhouse gas emissions.  KDB officials said the move will ensure that issuers, including KDB, will use the green bond proceeds for environmental purposes and prevent issuers from “greenwashing,” in which companies make green gestures without meaningfully improving their environmental impact. KD

South Korea‘s fund manager KB Asset Management said Monday it has launched an equity fund to target companies at home and abroad dedicated to hydrogen supply chain. The instrument will become the first fund product publicly sold to investors in Korea’s fund management industry to bet on the growth of the global hydrogen mobility ecosystem. The equity fund will invest in companies devoted to production, storage, transportation and distribution of hydrogen, as well as hydrogen-power

The Military Mutual Aid Association has named Kim You-geun, former deputy director of South Korea‘s National Security Council, as its new chief executive officer of the institutional investor, officials said Monday. Kim, retired Korean Army Lt. Gen., became the 15th president of the institution dedicated to providing financial welfare to the Korean military community. He replaced the predecessor Kim Do-ho after receiving final approval from Defense Minister Suh Wook. Kim called for tra

Woori Bank’s Indonesian unit has received a higher grade in capital requirement imposed by the Southeast Asian country’s market watchdog, bringing it one step forward in expanding its business portfolio in the region, officials said Sunday. As of December last year, Bank Woori Saudara raised a combined capital of 5.2 trillion rupiah, or approximately 413 billion won, which falls under a BUKU3 rating, the third-highest in Otoritas Jasa Keuangan’s four-tier bank capital class

The social distancing rule that prohibits a gathering of more than five people during the Lunar New Year holiday has led Koreans to seek practical alternatives to the tradition of gifting cash to children -- now via mobiles, not in-person. Kakao Bank, South Korea’s internet-only lender, is capitalizing on the special circumstances created by the coronavirus that restrict in-person family visits. The firm has launched a giveaway event for those who send or receive New Year‘s mone

South Korea's four major commercial banks appear likely to maintain their creditworthiness this year due to adequate capitalization and resilient asset quality, according to a recent report from S&P Global Ratings.    Kookmin Bank, Shinhan Bank, KEB Hana Bank and Woori Bank have emerged from a pandemic-scarred 2020 with asset quality intact.    Earnings for the whole of 2020, announced last week, show a decline in net interest margins and slightly higher credit costs f

Amateur Korean investors say extension of short selling ban is temporary relief, designed to woo voters ahead of April by-elections

Engineer-turned-YouTuber and investor warns jackpot chasers that investment should be sustainable project for life

Investors frustrated over lower-than-expected dividend payouts, which came as a result of the banking groups’ failure to pass government stress tests

Mastern, KTB to launch NYC offices amid growing presence of Korean capitals in US property market

Top bankers likely to file lawsuits against the FSS’ punishment, officials say

South Korea‘s investment house Mirae Asset Global Investments said on Thursday it has launched a new equity fund to invest in domestic companies with clean technology prowess. With the launch, Mirae Asset aims to ride on the green wave among financiers that is triggering a seismic shift across the industries. Its portfolio will mainly comprise of Korean firms dedicated to solar, wind and hydroelectric power resources, waste management, electric vehicles, hydrogen cars, as well as smart

South Korea’s first internet-only lender, K bank, saw a hike in term deposits in January backed by new customers looking to invest in bitcoins through the online bank. Under the partnership between K bank and crypto exchange Upbit forged in June, retail investors can open a bitcoin trade account via the online lender. A bitcoin frenzy in January appears to have pushed the number of customers subscribing and depositing cash at K bank, according to market watchers. K bank’s sav

JPMorgan Asset Management has increased its stake in the ailing Korean travel agency Modetour Network to 7.47 percent, banking on a rebound in the post-COVID era despite piling losses, a filing showed Wednesday. Three of JPMorgan Asset Management subsidiaries obtained an additional 1.07 percent stake, or some 200,000 ordinary shares, in Modetour from December 2019 to January this year, according to the filing. This solidified JPMorgan’s position as the firm’s second-largest share