South Korean stocks finished slightly lower Wednesday as investors remained cautious ahead of the central bank's rate-setting meeting this week. The local currency gained ground against the US dollar. The benchmark Korea Composite Stock Price Index declined 1.95 points, or 0.08 percent, to close at 2,519.81. Trading volume was moderate at 571.6 million shares worth 9.27 trillion won ($7.19 billion), with losers beating winners 598 to 272. Institutions sold a net 140.9 billion won worth of l

CHANGZHOU, China, Nov. 28, 2023 /PRNewswire/ -- To cope with the new economic changes in the world and create a new economic development pattern in the Asia Pacific region, the 4th China-Korea-Japan Asset Management Summit Forum was held on November 22 in Zhonglou District, Changzhou, Jiangsu Province. The forum convened under the theme "Industrial Finance Empowerment, Cohesion and Win-win". Representatives of multiple institutions, business leaders, experts and scholars from China, So

Yang Jong-hee, the new chairman of KB Financial Group, South Korea's largest financial giant, commenced his official term on Tuesday, putting renewed emphasis on “giving back to society.” "I deeply feel the weight of responsibility that comes with the role of finance," Yang said during his inaugural ceremony held at the group's headquarters in Seoul earlier in the day. "There is a saying that ‘if we want to go far, we go together.’ Without the gro

Hana Financial Group on Monday announced the establishment of South Korea’s first privately led “venture fund of funds” with an investment of 100 billion won ($77.44 million). The announcement follows the Ministry of SMEs and Startups’ proposal last year to expand funding for venture capital and boost the startup industry together with the private sector. The launch ceremony, which was attended by SMEs and Startups Minister Lee Young and Hana Financial Group Chairman Ham

Hana Financial Group Chairman Ham Young-joo (center) poses for a photo as he joins a relay "zero-waste" campaign that aims to reduce the use of single-use items, such as plastic cups, at the financial giant's headquarters in Seoul on Thursday. (Hana Financial Group)

Hana Financial Group on Monday held a conference for Hana Waves, an in-house program to nurture future female leaders, to share the stories of nearly 100 leaders produced through the program over three years. Under the slogan “Women’s Actions, Voice, Emotion,” Hana started the first Hana Waves program in 2021, hoping to boost female leaders to steer the group’s future. As part of the group’s gender diversity efforts at the C-suite level, members of the first series

South Korea's top five commercial banks will provide the first tranche of a syndicated loan worth 3.5 trillion won ($2.65 billion) to the Polish government to finance a follow-up weapons purchase deal with Korean arms companies, industry sources said Friday. This decision came after South Korea's Defense Ministry asked the top five commercial banks -- KB Kookmin, Shinhan, Hana, Woori and NongHyup -- to provide the lending during a meeting held on Nov. 6, as state-run banks hit their lo

South Korean commercial banks are considering loan syndication for the Polish government to finance a weapons purchase deal worth 30 trillion won ($23.1 billion) with Korean arms companies, as state-run banks hit their loan limit for the contract. South Korea's Ministry of Defense on Monday held a meeting with officials from five top local banks -- KB Kookmin, Shinhan, Hana, Woori and NongHyup -- to discuss providing loans to the Polish government for an arms export deal, according to sou

Members of Samsung Group's owning family are set to sell nearly 2.6 trillion won ($2 billion) worth of shares in Samsung affiliates to cover inheritance taxes, a regulatory filing showed Sunday. Since the death of late Samsung Chairman Lee Kun-hee in October 2020, his family members have been paying inheritance taxes in installments for the assets inherited according to a five-year plan. The total inheritance tax amounted to 12 trillion won. According to the regulatory filing with the Fin

SEOUL, South Korea, Nov. 2, 2023 /PRNewswire/ -- GLN International Inc, a subsidiary of Hana Bank, is pleased to announce its participation as a Korean payment scheme in the SGQR+ POC (Proof of Concept, spearheaded by the Monetary Authority of Singapore (MAS). This milestone has been made possible through our valued partner, Liquid Group from Singapore. The POC, to be conducted from November 1st to 30th of 2023, will allow GLN users in Singapore to make simple and easy payments a

Hana Financial Group Chairman Ham Young-joo (center) and company officials make kimchi at the group's headquarters in Seoul on Wednesday, as part of its social outreach program, the "Everyone's Hana Day" campaign. Over the next two months, Hana plans to carry out diverse social contribution activities such as making braille tools for people with blindness or low vision, and offering educational programs for children. (Hana Financial Group)

South Korean stocks closed sharply lower for the third consecutive day Monday as investors' risk-off sentiment escalated amid geopolitical uncertainties and high US bond yields. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index lost 17.98 points, or 0.76 percent, to close at 2,357.02. Trading volume was slim at 387.7 million shares worth 6.9 trillion won ($5.1 billion), with decliners beating gainers 593 to 283. "With no specific upward mome

Hana Financial Group Chairman Ham Young-joo (third from right), Vice Chairman Lee Eun-hyung (third from left), and other company officials unveil the Hall of Fame for top employees at Hana Global Campus in Cheongra, Incheon, Saturday. A total of 186 employees have been selected to honor their performance across sales, marketing and consumer satisfaction. The financial giant said the new launch aims to create a customer-first corporate culture. (Hana Financial Group)

South Korean stocks got off to a weak start Friday tracking overnight losses on Wall Street. The benchmark Korea Composite Stock Price Index lost 35.19 points, or 1.46 percent, to 2,380.61 in the first 15 minutes of trading. After the Federal Reserve Chairman Jerome Powell's hint at a further rate hike, US stocks closed sharply lower. The Dow Jones Industrial Average fell 0.75 percent and the Nasdaq Composite dropped 0.96 percent. In Seoul, market heavyweights led the decline. Top-cap Samsu

South Korean stocks jumped nearly 1 percent Tuesday as concerns over the Israel-Hamas conflict eased. The local currency slightly gained ground against the US dollar. The benchmark Korea Composite Stock Price Index added 23.93 points, or 0.98 percent, to close at 2,460.17, ending a two-session losing streak. Trading volume was moderate at 500.5 million shares worth 7.6 trillion won ($5.6 billion), with winners beating losers 582 to 281. Foreign purchases led the rally, as offshore investors scoo