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Bank Holding Firms’ 2021 Dividends Expected to Hit New High on Bumper Profits

Bank Holding Firms’ 2021 Dividends Expected to Hit New High on Bumper Profits

SEOUL, Dec. 20 (Korea Bizwire) — Dividends by South Korea’s four major financial holding firms are expected to hit an all-time high in 2021 as they have decided to return more of their bumper profits to shareholders, sources said Monday. The combined dividend payout of the four is likely to reach around 3.83 trillion won [...]

S. Korean Commercial Banks Open Video Consultation Windows

S. Korean Commercial Banks Open Video Consultation Windows

SEOUL, Dec. 14 (Korea Bizwire) — South Korea’s major commercial banks have launched a series of video consultation windows, enabling customers to enjoy a variety of banking services through video consultations with bank specialists. Woori Bank opened its video consultation window ‘digital desk’ on Monday. For those who visit the bank’s branches, the digital desk’s [...]

Insurers’ Earnings Soar 37.3 pct in Jan.-Sept.

Insurers’ Earnings Soar 37.3 pct in Jan.-Sept.

SEOUL, Nov. 25 (Korea Bizwire) – South Korean insurance firms’ earnings jumped more than 37 percent in the first nine months of this year amid the coronavirus pandemic and a bullish stock market, data showed Thursday. The combined net profit of insurance companies operating in South Korea came to 7.63 trillion won (US$6.4 billion) in [...]

Eugene PE, 4 Others Chosen to Buy 9.3 pct Stake in Woori Financial

Eugene PE, 4 Others Chosen to Buy 9.3 pct Stake in Woori Financial

SEOUL, Nov. 22 (Korea Bizwire) — Eugene PE, the private equity firm of South Korea’s Eugene Group, and four others have been chosen to buy a combined 9.3 percent government-held stake in Woori Financial Holdings Co. for 897.7 billion won (US$754.1 million), South Korea’s financial regulator said Monday. The move will put an end to [...]

Samsung Life, Korea Post to Launch 400 bln Won Investment Fund

Samsung Life, Korea Post to Launch 400 bln Won Investment Fund

SEOUL, Nov. 22 (Korea Bizwire) — Samsung Life Insurance Co., South Korea’s top life insurer, said Monday that it has agreed to launch a joint investment fund with the state-run postal agency for overseas investments. In a preliminary deal signed with Korea Post, Samsung Life Insurance said that they will launch the joint investment fund [...]

German Legal Expenses Insurance Company Shuts Down After 12 Years

German Legal Expenses Insurance Company Shuts Down After 12 Years

SEOUL, Nov. 11 (Korea Bizwire) — A German legal expenses insurance company that chose South Korea as its first Asian market has closed down after 12 years in business. The Financial Services Commission said Wednesday that DAS Legal Expenses Insurance Co. decided to shut down and disband all businesses at a recent shareholder’s meeting, and [...]

Online Lenders Report Sharp Increase in Net Profit in Q3

Online Lenders Report Sharp Increase in Net Profit in Q3

SEOUL, Nov. 2 (Korea Bizwire) — South Korean internet-only banks said Tuesday their third-quarter profits sharply increased on robust growth in customers and deposits. K-Bank, controlled by a consortium of telecom giant KT Corp., Woori Bank and 19 other companies, saw its third-quarter earnings more than double from three months earlier. Net profit came to [...]