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KB Kookmin Bank Introduces Palm Vein Recognition Service for Cash Withdrawals

KB Kookmin Bank Introduces Palm Vein Recognition Service for Cash Withdrawals

SEOUL, Apr. 15 (Korea Bizwire) — South Korean lender KB Kookmin Bank has introduced a new service that allows customers to make withdrawals through hand recognition, instead of having to use a bankbook, stamp or password. The bank announced on Sunday that customers will now be able to make withdrawals at the counter using palm [...]

KB Kookmin Bank Stages Strike, 600 Branches Affected

KB Kookmin Bank Stages Strike, 600 Branches Affected

SEOUL, Jan. 8 (Korea Bizwire) — Workers at KB Kookmin Bank, South Korea’s leading lender, launched a nationwide strike Tuesday for the first time in 19 years over wage system reforms and bonuses, its labor union said. The one-day walkout started at 9 a.m., as last-minute overnight negotiations between the labor and the management did [...]

KEB Hana, KB Kookmin Banks Suspected of Illicit Hiring

KEB Hana, KB Kookmin Banks Suspected of Illicit Hiring

SEOUL, Feb. 5 (Korea Bizwire) – South Korea’s two major banks are suspected of creating lists to give undue hiring favors to the families and acquaintances of influential figures, sources said Sunday. The Financial Supervisory Service (FSS) has recently filed complaints with the prosecution against five banks, including KEB Hana Bank and KB Kookmin Bank, [...]

Korean Banks File $230 Million Lawsuit against U.S. Online Retailer Newegg

Korean Banks File $230 Million Lawsuit against U.S. Online Retailer Newegg

SEOUL, Oct. 31 (Korea Bizwire) – Sources within the financial industry reported on October 30 that a coalition of major South Korean banks consisting of KB Kookmin Bank, the Korea Exchange Bank and Nonghyup Bank had filed a $230 million suit against U.S. online retailer Newegg Inc and others in a Los Angeles district court [...]

Digital Disruption Sweeps Through Korean Banking Industry

Digital Disruption Sweeps Through Korean Banking Industry

SEOUL, January 30 (Korea Bizwire) – Digital disruption and cutthroat competition are shaking up the banking industry, with thousands of employees making the transition away from financial services jobs that were long considered as some of the most lucrative in Korea. The emergence of the fintech revolution leaves the prospects for the banking industry uncertain. [...]

Interpark Join Forces with SK Telecom for Internet-only Bank

Interpark Join Forces with SK Telecom for Internet-only Bank

SEOUL, Aug. 26 (Korea Bizwire) – South Korea’s leading online shopping site Interpark said Wednesday it has joined forces with the nation’s top mobile carrier and several other firms to win regulatory approval for running an Internet-only bank. Interpark said its consortium includes SK Telecom, the state-run Industrial Bank of Korea, GS Home Shopping and four [...]