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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 [...]

Korean Banks Tighten Belt as Interest Margin Declines

Korean Banks Tighten Belt as Interest Margin Declines

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 [...]

Korean Banks Withdrawing Loss Making ATMs

Korean Banks Withdrawing Loss Making ATMs

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, [...]

KSD to Begin 5th Year Campaign to Return Balance in Dormant Stock Accounts

KSD to Begin 5th Year Campaign to Return Balance in Dormant Stock Accounts

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 [...]

KB Kookmin Bank Named Best Trade Finance Bank in Korea

KB Kookmin Bank Named Best Trade Finance Bank in Korea

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 [...]

KB Kookmin Bank Introduces Bank Account Offering Insurance against “Phishing”

KB Kookmin Bank Introduces Bank Account Offering Insurance against “Phishing”

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 [...]