KB Financial Group has started car installment finance and consumer finance businesses in Cambodia. The move is part of the group’s efforts to strengthen its foothold abroad. The group also established an asset management unit in Shanghai, China, earlier.KB Kookmin Card Co. held an inauguration cere

Macquarie Korea Infrastructure Fund (MKIF) announced on Sept. 6 that the Institutional Shareholder Service (ISS), the largest proxy advisory firm in the world, has advised MKIF shareholders to vote against a proposal to replace MKIF’s fund operator at an extraordinary general meeting to be held on t

Financial Supervisory Service (FSS) Governor Yoon Suk-heun warned that new financial services, such as cryptocurrencies and fintech, can cause risks in terms of consumer protection. In particular, he stressed the need to create a global regulatory system for cryptocurrencies.During an opening ceremo

Information technology (IT) innovation is now upgrading insurance services. Insurtech, a word coined by blending "insurance" and "technology," is transforming the insurance industry. The emergence of totally new types of insurance services has been fueled by the new technologies of the Fourth Indust

South Korean investment firms’ assets under management (AUM or operating assets) have set a new milestone by exceeding one quadrillion won (US$890.08 billion) for the first time. Their net profits increased more than 20 percent as the operating assets grew.According to the Financial Supervisory Serv

Balance Hero, the operator of True Balance, India’s leading balance and data management app, has unveiled a new gift card. Gift cards are a fast and secure recharge option for users.The True Balance Gift Card represents Balance Hero’s efforts to realize its vision of “finance for billions.” When use

Hana Financial Group chairman Kim Jung-tae is seeking to boost the company's stock price by purchasing its treasury stocks and holding investor relations (IR) meetings in the United States. Hana Financial recorded the best-ever performance in the first half of this year after it turned itself in

The initial premiums (first-time premium after getting insurance) for domestic life insurance companies are rapidly decreasing. On the other hand, insurance termination refunds and insurance loans hit the record high since 2003 when the data began to be collected.Given the fact that insurance is the

Shinhan Financial Group Co., a major South Korean financial holding company, is in the final stages of negotiations with MBK Partners to acquire a controlling stake in Orange Life, formerly known as ING Life Insurance, for 2.3 trillion won (US$2.07 billion). Orange Life is the group's first big

Global investment banks are increasingly raising funds in the South Korean capital market as bond interest rates show a downward trend.Nomura International Funding, for example, issued Arirang bonds worth 50 billion won (US$45 million) on August 29. The bond had a maturity of 20 years and a coupon r

Two former heads of the personnel department of Shinhan Bank were arrested on suspicion of giving favors to the children of the bank’s former and incumbent executives in the hiring process.Yang Chul-han, chief judge at the Seoul Eastern District Prosecutor's Office issued an arrest warrant again

The short selling force, which gives the domestic stock market trouble, has recently let up. In particular, expectations are growing that Samsung Electronics Co., which had been a main target of short sellers, will be able to see its share price go up as the balance of stock lending, which hit a rec

With the U.S. stock market achieving its longest rise in its history, foreign investors are returning to the domestic market at a faster pace. This is largely due to fact that the strong U.S. dollar, which was an obstacle for global money in investing in emerging markets, eased and the won-dollar ex

On August 29, the Korea Development Bank (KDB) concluded an agreement in Dajeon with the Korea Institute for Advancement of Technology (KIAT) and Hanwha Investment & Securities to form “New Industry Investment Promotion Funds for Foreigners.” The funding is a follow-up of the memorandum of understan

Korea’s four major commercial banks -- KB Kookmin, Shinhan, KEB Hana and Woori -- are expected to earn more 1 trillion won (US$ 833 billion) in net profit from their global operations.The National Association of Banks said the global net profit of the banking industry is expected to reach a record h

Mirae Asset Daewoo, the No. 1 securities firm in Korea in terms of equity capital, is pushing for a public offering of corporate bonds overseas.According to finance and investment industry watchers, Mirae Asset Daewoo plans to issue US$300 million (340 billion won) worth of corporate bonds this year

A certificate-based authentication service that can be used for 15 banks, including KB Kookmin, Shinhan, Woori, and KEB Hana, has been released.On August 27, Samsung SDS announced that it has completed developing a blockchain-based joint bank authentication certificate service “BankSign,” which will

The ruling and opposition parties failed to reach an agreement on a special bill on direct (Internet-only) banks, which involves the easing of the banking-commerce separation. As a result, the bill is unlikely to be passed in the plenary session of the National Assembly on Aug. 30.When it comes to i

Short selling of Celltrion stocks has surged again after Goldman Sachs reported negatively on the company. The average percentage of short selling for five trading days increased more than 10 percent points after Goldman Sachs’ report on August 12. There is a possibility that additional short sellin

NH Nonghyup Bank will take over a Cambodian financial company and begin full-scale operation.The Korean bank announced on August 22 that it received final approval from the Cambodian Central Bank and the Department of Commerce about the acquisition of SAMIC, a local microcredit company. NH Nonghyup