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. [...]
SEOUL, Sept. 21 (Korea Bizwire) — Loans extended by local banks to individuals for home rentals have spiked over the past five years, market data showed Monday, amid a surge in rental prices driven by record-low interest rates and a shortage of homes for rent. According to the data, loans extended by the six largest [...]
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 [...]
SEOUL, Jun. 4 (Korea Bizwire) — KB Kookmin Bank launched a new OTP (one-time password) generating security card that does not require customers to manually write down generated OTPs. The new ‘Smart OTP Service’ is comprised of a credit card-type OTP generator that only needs to be put near a smartphone to authenticate a trade. [...]
SEOUL, May 22 (Korea Bizwire) — As local banks suffer from reduced net interest margins, they are looking to reduce operational costs to overcome their difficulties. KB Kookmin Bank is urging its employees to report their business activities verbally or via email, not through color prints or full color Powerpoint charts to save costs on printer toner [...]
SEOUL, May 19 (Korea Bizwire) — Korean banks are decreasing the number of their ATMs around the nation to compensate for losses they have been facing due to a recent drop in net interest margins. According to industry representatives on May 17, the number of ATMs at 6 major Korean banks, KB Kookmin, Shinhan, Hana, [...]
SEOUL, Oct. 2 (Korea Bizwire) – The Korea Securities Depository will initiate a campaign, jointly with KB Kookmin Bank and Hana Bank, to find the owners of stock investment accounts and return the remaining balance in the dormant accounts. A Korea Securities Depository official said on October 1, “The three financial institutions will offer the service in support [...]
SEOUL, May 22 (Korea Bizwire) – KB Kookmin Bank has been crowned for the third consecutive years as the Best Trade Finance Bank in Korea by the Asian Banker International Awards 2014. The Asian Banker, a magazine providing strategic intelligence on the financial services industry since 1996, selects the best financial institutions in every financial sector annually. The selection [...]
SEOUL, May 20 (Korea Bizwire) – As financial frauds increase and personal information is frequently infringed due to phishing and hacking, a local bank launched a new bank account capitalizing on the people’s “worry” on the issue. KB Kookmin Bank began selling the “KB Feel-at-home Bank Account” offering compensation insurance for damages from those financial [...]
SEOUL, Korea, April 16, 2014 (Korea Bizwire) – It seems that spring has already come to the Korean economy. People are rushing to buy new apartments and the number of employed people surpassed the half-million mark for five consecutive months. Export volume in March rose to the second highest level of all time and big-ticket [...]