Asia

ASIA HEADLINES
  • Rate cut expected to boost stocks in short run
    by Jhoo Dong-chan on January 1, 1970 at 12:00 am

    Experts and analysts welcomed the central bank's Thursday decision to cut the key rate by 25 basis points to 1.5 percent, but the effect of the rate cut is expected to be limited. […]

  • KEB Hana introduces banking app for foreigners
    by Jhoo Dong-chan on January 1, 1970 at 12:00 am

    KEB Hana Bank rolled out a banking app for foreigners, the bank said Friday. […]

  • Financial firms join hands with retailers
    by Jhoo Dong-chan on January 1, 1970 at 12:00 am

    A growing number of financial firms are partnering with retailers in a bid to diversify revenue sources and expand their business portfolios. Samsung Card said Wednesday it has signed a strategic partnership with Shinsegae Simon, a retail joint venture between Shinsegae and U.S.-based commercial […]

  • Founder's scandals hamper DB's rebuilding efforts
    by Jhoo Dong-chan on January 1, 1970 at 12:00 am

    DB Group has gone all out to rebuild its corporate image and market status over the past two years since the group founder and former Chairman Kim Jun-ki resigned in 2017 and fled the country after being sued by his secretary for sexual harassment two years ago. […]

  • BOK cuts key interest rate to 1.5 percent
    by Lee Kyung-min on January 1, 1970 at 12:00 am

    The Bank of Korea (BOK) cut its key interest rate by 25 basis points to 1.5 percent Thursday, in a pre-emptive measure to tackle slowing growth amid growing uncertainties caused by a trade feud with Japan. The central bank also revised its 2019 growth outlook to 2.2 percent from its previous […]

  • FSC chairman offers to step down
    by Park Jae-hyuk on January 1, 1970 at 12:00 am

    Financial Services Commission (FSC) Chairman Choi Jong-ku said Thursday he had recently offered to resign, ahead of an expected cabinet reshuffle which is expected to take place in August. […]

  • FSS launches special investigation team
    by Kim Bo-eun on January 1, 1970 at 12:00 am

    The Financial Supervisory Service (FSS) and the prosecution launched a 16-member special investigation team to look into irregularities in the capital market with a ceremony held Thursday at the FSS headquarters on Yeouido, Seoul. The chief prosecutor of the Seoul Southern District Prosecutor's […]

  • Banks fix eyes on auto loan market
    by Jhoo Dong-chan on January 1, 1970 at 12:00 am

    The nation's commercial banks are introducing a series of auto loan products with lower interest rates. Auto loans used to be an exclusive financial product for capital firms, but now lenders have joined the industry as part of efforts to diversify their business portfolio. […]

  • Best service bank
    by Jhoo Dong-chan on January 1, 1970 at 12:00 am

    […]

  • IBK, Woori expect hefty returns from investment into 'Parasite'
    by Lee Kyung-min on January 1, 1970 at 12:00 am

    Woori Bank and the Industrial Bank of Korea (IBK) are expecting hefty returns from their investment in the Korean film “Parasite,” this year's Palme d'Or winner at the Cannes Film Festival. Their non-traditional investment method in local movie productions is emerging as a great way for […]

  • Toss grows but suffers ballooning losses
    by Kim Bo-eun on January 1, 1970 at 12:00 am

    Fintech startup Toss, one of Korea's nine unicorn companies, is growing fast. It has 13 million customers and continues to expand the range of services it offers. Yet its losses continue to grow, and its business model appears to have limitations in terms of long-term growth. […]

  • Customs Border Control Training Institute gets first female chief
    by Kim Bo-eun on January 1, 1970 at 12:00 am

    The Customs Border Control Training Institute (CBCTI) appointed its first female chief, Cho Eun-jung, Monday. Cho, 57, is the 14th director general of the institute affiliated with the Korea Customs Service. […]

  • Lotte Card expanding presence in Vietnam
    by Park Jae-hyuk on January 1, 1970 at 12:00 am

    Lotte Card has sought to strengthen its foothold in Vietnam by making mass investments in its subsidiary there, to take advantage of the Southeast Asian country's fast-growing consumer finance market. […]

  • For Bangladesh's infrastructure
    by Jhoo Dong-chan on January 1, 1970 at 12:00 am

    […]

  • Stock trading volume hits 15-month low in June
    by Jhoo Dong-chan on January 1, 1970 at 12:00 am

    The total trading volume of Seoul stocks fell to a 15-month low in June despite a series of government efforts to revive the nation's sluggish stock market, according to a recent report. The government lowered the securities transaction tax to encourage investors for the first time in 23 years last […]

  • Hana to set up W1 tril. fund with China's sovereign fund
    by Lee Kyung-min on January 1, 1970 at 12:00 am

    Hana Financial Group will team up with the China Investment Corporation (CIC) to set up a roughly 1 trillion won ($847 million) fund to invest in Korean companies operating in China, the group said Wednesday. The CIC operates about $941.4 billion in funds, one of the world's largest sovereign […]

  • Korea's best bank
    by Park Jae-hyuk on January 1, 1970 at 12:00 am

    […]

  • Boosting ties with Indonesia
    by Lee Kyung-min on January 1, 1970 at 12:00 am

    […]

  • Kyobo Life gears up to start platform business
    by Kim Bo-eun on January 1, 1970 at 12:00 am

    Kyobo Life Insurance has begun working with startups to expand its services into healthcare and ultimately create a platform offering various services, the insurer said Wednesday. The move comes as financial authorities pledged earlier this month to allow insurers to expand their businesses into […]

  • Skepticism growing over Korean economy
    by Park Jae-hyuk on January 1, 1970 at 12:00 am

    A growing number of experts worldwide are expressing skepticism about the government's rosy outlook for the country's economic growth for 2019. Contrary to the Ministry of Economy and Finance's outlook of a range of 2.4 percent to 2.5 percent, many global economists forecast that the 2019 growth […]