SEOUL, March 27 (Korea Bizwire) — Overseas branches of South Korean banks saw their combined net profit rise 23.9 percent on-year to US$807 million in 2017, thanks to a decline in loan-loss provisions, government data showed Tuesday. The total accounted for 7.7 percent of the combined net profit of banks operating in South Korea last [...]
SEOUL, Jan. 23 (Korea Bizwire) — Unions in the South Korean banking sector are demanding a position on the board of directors to better represent themselves with management. According to sources close to the banking industry, an increasing number of financial institutions including KB Financial Group, Shinhan Bank and Woori Bank are addressing calls from labor [...]
SEOUL, Jan. 19 (Korea Bizwire) — A long-held rite of passage for new employees at big firms has in recent weeks come under fire after reports surfaced detailing allegations that newly hired female employees at Kookmin Bank (KB), who were participants in a company mandated training program, were offered contraceptives to avoid suffering from discomfort [...]
SEOUL, Nov. 21 (Korea Bizwire) – KB Kookmin Bank, South Korea’s largest retail lender, will focus on providing customized services to the public without drastic job cuts or sharply reducing the number of outlets, the lender’s new president said Tuesday. After integrating some redundant branches, KB Kookmin Bank currently operates 1,061 outlets in South Korea, [...]
SEOUL, Sept. 14 (Korea Bizwire) – KB Financial Group Inc.’s chairman nomination committee said Thursday it named current chairman Yoon Jong-kyoo the sole candidate for next chairman. Yoon, has held the post since 2014, became the sole candidate as two other rivals dropped out of the race. Yoon, 62, started his career at the Korea [...]
SEOUL, June 27 (Korea Bizwire) – The rapid growth of K Bank is making its rivals nervous, with some bank heads praising the success of Korea’s first internet-only bank as ‘beyond expectations’, and noting that they hope to maintain a good relationship as partners as well as contenders. Speaking to Yonhap News, the heads of major [...]
SEOUL, Oct. 9 (Korea Bizwire) – Hangul, the Korean alphabet featuring 24 consonant and vowel letters, has been disseminated to foreign countries, driven by its rising international awareness, and its greater incorporation into various fields including art and fashion, increasingly proving its cultural excellence both at home and abroad. The nation’s banking industry also began to [...]