The Korea Herald

S. Korea to cut maximum legal lending rate to 20% next year

Nov 16, 2020

South Korea’s government and the ruling Democratic Party of Korea have decided to lower the maximum legal lending rate to 20 percent from the current 24 percent starting next year to ease financial b...
Korean institutional investors turn to fast-growing private debt market

Nov 15, 2020

Investors say COVID-19 has helped them develop an eye for distressed assets, suitable partners
Incumbent KB Kookmin Bank CEO to serve third term

Nov 12, 2020

Hur Yin, KB Kookmin Bank’ incumbent CEO, was officially tapped by board members to lead the lender for another year, the bank said Thursday. Earlier in October, KB Financial Group’s committee for CE...
At least W436b to evaporate from Optimus hedge fund scam: FSS

Nov 11, 2020

The Financial Supervisory Service said Wednesday that Optimus Asset Management, a local hedge fund house involved in an alleged fraud case, has incurred at least 436.3 billion won ($393 million) in f...
Hana Bank to adopt casual dress code

Nov 10, 2020

Hana Bank is set to allow employees to wear business-casual attire to create a relaxed working environment, industry sources said. The lender has recently decided to adopt a more casual dress code a...
Less than 1% of banking done in person: data

Nov 10, 2020

Less than 1 percent of all banking transactions across the country were made in person, data showed Tuesday, suggesting an apparent change in the retail banking landscape favoring non-face-to-face se...
Shinhan Financial CSO named as Korea’s first member of UNEP FI Global Steering Committee

Nov 8, 2020

Park Sung-hyun, the incumbent chief strategy and sustainability officer of Shinhan Financial Group has been appointed as a new member to the prestigious Global Steering Committee under the United Nat...
SmartStudy denies rumors of Nasdaq listing

Nov 6, 2020

Related firms’ stocks continue to remain strong amid anticipation
Kakao Bank records highest net profit in Q3

Nov 5, 2020

Ahead of its initial public offering, South Korea’s leading internet-only bank Kakao Bank said it logged its highest net profit in the third quarter this year, mainly due to a turnaround in nonintere...
Woori Financial to hold digital training for employees

Nov 3, 2020

Woori Financial Group said Tuesday it would implement an employee training program starting this month, to enhance its digital capabilities. For the program, the group will publish storyboards onlin...
SC Bank launches online sales channel to support social ventures

Nov 3, 2020

Standard Chartered Bank Korea said Tuesday it had launched an online sales channel on Naver, South Korea’s biggest search portal, to support social ventures operated by young entrepreneurs. The lend...
COVID-19 irony: Banking groups set to break records in pandemic

Nov 1, 2020

Banking groups stun onlookers with earnings surprises driven by retail investors’ buying binge, increased loan demand
NPS reaps 5% return as measures to boost gains are underway

Oct 30, 2020

South Korea’s public pension fund, the National Pension Service, said Friday that it has reaped a 5.07 percent return on its total investments from January to August this year. The nation’s largest ...
[Advertising Awards] Shinhan’s 'Sobi Mama' campaign finds wit in wise spending

Oct 29, 2020

The company’s latest advertisement was to introduce Shinhan Pay Fan’s various financial services in My Data era, and to show customers that we will always be with them and help them take care of thei...
Major Korean banking groups post stronger-than-expected Q3 earnings

Oct 29, 2020

Brokerages, not banking units, see greatest gains over stock market rally