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NewJeans releases music video for 'Bubble Gum'
New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
[What to See] Cheongdam-dong galleries bring together must-see shows
[EYE] ‘Save clothes, save the planet’: Activist advocates for sustainable fashion
[Music in drama] An ode to childhood trauma
Refresh, unwind away from the tropical heat
[Weekender] How DDP emerged as an icon of Seoul
N. Korea reaffirms plan to bolster space reconnaissance capabilities
Coach apologizes for missing out on Olympic football qualification, calls for system overhaul
N. Korea denounces US condemnation of human rights violations
Blinken calls on China to press N. Korea to end its 'dangerous' behavior
'The Roundup: Punishment' becomes fastest 2024 film to top 2 mln admissions
S. Korea, US lay out respective visions for new defense cost-sharing deal: US negotiator
US probes whether Tesla Autopilot recall did enough to make sure drivers pay attention
EU toughens safety rules for online retailer Shein
S. Korea, Japan could consider simplified entry agreement: Seoul official
New chief named to anti-corruption body
[Herald Interview] Noam Segal of Guggenheim Museum pushes for technology-based art with LG
Hybe refutes Ador CEO Min's denial of breach of trust
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Hana Bank to expand art wealth management
Feb 27, 2022
Hana Bank said Sunday it will expand its wealth management services to trading art pieces -- both physical and digital -- amid growing retail demand for alternative assets. Hana Bank has forged a partnership with Seoul Auction Blue, an online auction house, to jointly work on developing new businesses such as nonfungible tokens and metaverse platforms, and operating online education and community platforms on art. The two will also provide traditional art services including artwork sales, art
Hana partners with KAIST to boost scientific approach towards carbon neutrality
Feb 24, 2022
South Korea’s Hana Financial Group has partnered up with the nation’s top university in science and technology to bolster the scientific approach toward achieving carbon neutrality by 2050. On Thursday, Hana said it signed a deal with the Korea Advanced Institute of Science and Technology with the goal of developing new technology based on environmental, social and governance values. The goal would be based on the institutions’ joint efforts to resolve climate change issues,
Korean youths flock to state-backed savings account
Feb 23, 2022
South Koreans aged between 19 and 34 rushed to open a state-backed savings account with a high yield of some 10 percent this week, with the product attracting nearly two million applicants as of Wednesday. The state-backed savings account launched Monday -- dubbed the Youth Hope Savings Product -- is designed specifically for those aged between 19 and 34 with an annual income of or below 36 million won ($30,100). It requires applicants to submit a monthly payment of 500,000 won for a 2-year ter
Amid digitalization drive, banks expand offline services for wealthy
Feb 22, 2022
South Korean banking groups are opening more offline asset management centers exclusively for the nation’s superrich, while closing regular branches and replacing them with mobile and artificial intelligence-based services. On Tuesday, Shinhan Financial Group said it upgraded and rebranded two of its wealth management centers in Seoul to focus on providing exclusive banking services for its clients with personal assets of over 10 billion won ($8.3 million). The wealth management centers
Foreign currency deposits dip for 2nd month in Jan.
Feb 21, 2022
Foreign currency deposits at banks in South Korea dropped for the second straight month in January due mainly to decreased corporate deposits, central bank data showed Monday. Residents' outstanding foreign currency-denominated deposits reached $93.17 billion as of end-January, down $4.1 billion from the previous month, according to the data from the Bank of Korea (BOK). It represents the second consecutive month of on-month decline. In December, the country's foreign currency deposits decreased
SC Bank Korea partners with Posco Chemical, L&F for sustainable financing
Feb 17, 2022
Standard Chartered Bank Korea said Thursday it signed an environmental, social and governance-related supply chain financing deal worth a combined $180 million with local electric-vehicle battery material suppliers. The lender’s new partnership with Posco Chemical and L&F will provide the EV battery material suppliers with financing in the form of trade receivable discounting. Trade receivable discounting or TRD is a type of factoring in which a supplier provides its products to the
Brother of Seoul envoy to Beijing suspended for misselling of funds
Feb 16, 2022
FSC also fines IBK for selling troubled fund worth W250b
Hana signals start of HQ transfer to Incheon
Feb 16, 2022
South Korea’s Hana Financial Group marked the transfer of its headquarters from Seoul to Incheon with a groundbreaking ceremony, the firm said Wednesday. The groundbreaking ceremony for the planned 22-level building with seven underground floors was held Tuesday at Cheongna International City, which is part of the Incheon Free Economic Zone. Hana Financial and five of its affiliates –- flagship commercial bank Hana Bank, brokerage Hana Financial Investment, credit card issuer Hana
KakaoBank to launch AI mortgage service
Feb 15, 2022
Apply for mortgage loans just by chatting with AI
No breakthrough in talks to turn post offices into banking branches
Feb 15, 2022
South Korea’s financial regulator’s plan to allow nationwide post offices to work as brick-and-mortar branches for commercial banks here continues to face major hurdles as the plan has been stalled for nearly two years. On Monday, the Financial Services Commission mentioned its plans to review post offices and other similar institutions that could partner up with lenders in offering offline banking services, in its 2022 annual plan. The plan is part of its efforts to narrow the gap
Financial watchdog to step up crackdown on Big Tech
Feb 14, 2022
South Korea’s financial watchdog pledged Monday to announce its own monitoring measures for Big Tech firms’ financial services. As part of its annual plan for this year, the Financial Supervisory Service said it would prepare “Korean-type Big Tech monitoring measures to stimulate competition and innovation from Big Tech’s foray into the finance sector and to achieve financial stability and customer protection.” The purpose of the measures is to establish systemat
[Newsmaker] Hana eyes stronger earnings, shareholder value under new leadership
Feb 13, 2022
Bolstered by record-high 2021 profit, banking giant to raise its dividend payout ratio to 30% from current 26%
Big 4 banking groups post record earnings on lending growth
Feb 11, 2022
South Korea’s top four major banking groups -- KB, Shinhan, Hana and Woori -- saw their combined earnings last year hit a record high, largely buoyed by robust interest and commission income. According to their separate regulatory filings, the total net profit of the firms soared 34.5 percent on-year to 14.5 trillion ($12 billion) last year, eclipsing the previous record of 10.8 trillion won in 2020. KB Financial Group outpaced rivals in terms of net profit. Its net increased 27.6 perc
[Newsmaker] Hana Financial taps man behind successful KEB merger transition as new chief
Feb 9, 2022
South Korea’s Hana Financial Group has nominated Vice Chairman Ham Young-joo, who led its flagship lender’s smooth operation and business rebranding after its grueling acquisition of Korea Exchange Bank seven years ago, to be the next chairman of the banking group. On Tuesday, the firm’s chairman nomination committee tapped Ham as the sole nominee for the position, citing his performance in generating profit and bolstering stability in business. Ham has also shown “extra
Hana Financial taps vice chief as new chairman
Feb 8, 2022
South Korea’s Hana Financial Group has nominated Vice Chairman Ham Young-joo to be the next chairman of the banking group. On Tuesday, firm’s chairman nomination committee tapped Ham as the sole nominee for the position, citing his performance in generating profit and bolstering stability in business. Ham has also shown “extraordinary leadership” in managing the group and is expected to lead Hana into the future with digital transformation, the committee said in a statem
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10-man S. Korea lose to Indonesia to miss out on Paris Olympic football qualification
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Second Gimpo civil servant found dead, after apologizing for not finishing work
DP leader says he will meet Yoon without conditions
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First-ever meeting of president, opposition chief set to finally happen
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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