SEOUL, May 19 (Korea Bizwire) — Major South Korean financial holding firm KB Financial Group Inc. has launched a drive to restore the honeybee ecosystem amid a sharp decline in the number of honeybees due to climate change. The group said Wednesday it will create a forest by planting 100,000 honey source trees such as [...]
SEOUL, Nov. 9 (Korea Bizwire) — With KB Financial Group Inc.’s extraordinary shareholders meeting 10 days away, a global corporate advisory firm has objected to two agenda items offered by the major banking group’s labor union, industry sources said Thursday. In a recent report, U.S.-based Institutional Shareholder Services Inc. (ISS) has advised shareholders to vote [...]
SEOUL, Aug. 1 (Korea Bizwire) — The number of people in South Korea with financial assets worth more than 1 billion won (US$892,295) rose 14.8 percent on year to 242,000 last year, thanks to the robust stock market, a report showed Tuesday. According to the annual survey by KB Financial Group Inc.’s research institute, people [...]
SEOUL, Jul. 24 (Korea Bizwire) — Global app-based rideshare service operator Uber Technologies Inc. and South Korea’s KB Financial Group Inc. have signed an agreement to work together to launch a domestic food delivery service, the financial conglomerate said Monday. Uber is expected to launch the food delivery service, UberEATS, in South Korea by the [...]
SEOUL, Nov. 2 (Korea Bizwire) – Four financial entities offered preliminary bids Monday to buy Daewoo Securities Co., in a deal that could come as a game changer for the local brokerage industry, the state-run Korea Development Bank (KDB) said. The prospective buyers are KB Financial Group Inc., the largest banking giant by assets; the [...]
SEOUL, Jan. 5 (Korea Bizwire) – The ubiquitous use of ‘plastic’ among consumers will set a milestone in credit card payment volumes this year. According to KB Financial Group, Korean credit card spending is on pace to exceed 700 trillion won (US$634 billion) in 2015, for the first time ever since 1967 when the first [...]
SEOUL, Nov. 16 (Korea Bizwire) — The next main computer system of Kookmin Bank has been determined as IBM’s mainframe computer. The bank held a board of directors meeting on November 14 to approve a proposal to select the new computing system that has been the focus of a controversy for months. Kookmin Bank has [...]
SEOUL, July 25 (Korea Bizwire) – Ahead of a measure to relax regulations on barriers between different financial services such as banking, securities, and insurance, responses are mixed. Some large financial service firms with operations across multiple areas welcome the announcement while those that are not big enough fret that the measure would change the industry landscape completely [...]
SEOUL, July 11 (Korea Bizwire) – A study said as many as 47 percent of Korea’s 167,000 millionaires with net financial assets in excess of 1 billion won (about US$987,000) reside in Seoul (as of end of 2013). According to a report “Korea’s Rich People” published recently by KB Financial Group Management Institute, most of the [...]
SEOUL, Korea, April 10 (Korea Bizwire) – What could be a potential archrival of a financial company? Usually, it could be other competing financial companies. In Korea, however, diversified market environment changed the notion. Can you imagine that a financial company is competing with a coffee chain or an Internet company? It happens, though. As [...]