SEOUL, July 13 (Korea Bizwire) — Major banking group Hana Financial Group said Monday that it plans to complete a merger between its two banking units — Hana Bank and Korea Exchange Bank (KEB) — before October as KEB’s labor union has agreed on the proposed merger. Hana Financial has been pushing for the merger since its [...]
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, April 8 (Korea Bizwire) — The number of foreign customers at the seven major banks in Korea has surpassed 5 million for the first time. According to bank industry representatives on April 7, the number of non-Korean customers at KB Kookmin, KEB, Hana, Nonghyup, Shinhan, Woori and IBK reached 5.48 million last year, which [...]
SEOUL, Feb. 3 (Korea Bizwire) – Korea Exchange Bank (KEB) is launching 15,000 sets of Lunar New Year gift boxes composed of foreign currency bills. The gift sets will be sold on a limited basis, starting from February 4, and will only be available for purchase at KEB branches. Korean elders have a custom of giving [...]
SEOUL, Nov. 24 (Korea Bizwire) — U.S. private equity investor Lone Star Funds, which withdrew from Korea with a handsome profit of 4.6 trillion won (US$4.14 billion) after selling the controlling stake in Korea Exchange Bank, has won a lawsuit with the Korean court to ask for a refund for taxes withheld at the time of the [...]