SEOUL, Nov. 19 (Korea Bizwire) – The financial industry is beginning to explore the possibility of businesses in the metaverse space, where digital assets could serve as a new growth engine for the banking sector. Cyworld Z, operator of Cyworld service, announced on Thursday that the state-run Industrial Bank of Korea (IBK) will enter the [...]
SEOUL, Dec. 22 (Korea Bizwire) — South Korea’s central bank said Friday that it has selected 12 banks, including six foreign banks, as the lenders responsible for setting prices for direct won-yuan transactions. The Bank of Korea said the lenders will also be charged with taking the lead in providing liquidity to the market. The [...]
SEOUL, Sept. 14 (Korea Bizwire) – A job expo for the financial services industry on September 13 attracted throngs of young men and women in their finest, some lining up hours before the event opened to get a chance for an interview with one of the top 6 banks (Kookmin, Shinhan, KEB Hana, Woori, Nonghyup [...]
SEOUL, July 23 (Korea Bizwire) –The sense of urgency that IT companies are encroaching on the mobile payment market is making banks to competitively beef up their smartphone-based electronic commerce services and scramble into the “war of mobile wallet.” Mobile Wallet or E-Wallet is a service that provides a convenient and technologically quick method [...]
SEOUL, July 14 (Korea Bizwire) — “Alert Apps” of banks have become popular among smartphone users. The apps allow users to receive text message alerts whenever they make banking transactions. In addition, the apps can prevent banking fraud such as smishing. For example, the subscriber number of “One Touch Alert” provided by Woori Bank has recently [...]
SEOUL, June 23 (Korea Bizwire) - Industrial Bank of Korea sold off all its holdings in Samick Musical Instrument. The bank, in partnership with KDB Capital, purchased bonds with warrant on the musical instrument maker last year and succeeded in netting 14.8 billion won in profit. According to the Financial Supervisory Service on June 20, [...]
SEOUL, May 9 (Korea Bizwire) – The Industrial Bank of Korea (IBK) announced that it recorded 326.9 billion won of consolidated net profit including IBK Capital and IBK Securities during the first quarter. The result was a 27.0-percent rise from the same period of the previous year (257.5 billion won) and up 93.7 percent from [...]
SEOUL, Korea, Mar 25 (Korea Bizwire) – As a series of online security incidents including the weeks of paralysis of Nonghyup in 2011 and the cyber-attack on March 20, 2013 have broken out, some banks are on a mission to recruit white hackers. KB Kookmin Bank has recently hired a new cyber security specialist who [...]