SEOUL, Oct. 8 (Korea Bizwire) — KEB Hana Bank, a major South Korean commercial bank, has withdrawn from a consortium led by brokerage Kiwoom Securities that is expected to submit a bid for a license to set up an internet-only bank, an industry source said Tuesday. The consortium led by Kiwoom Securities was one of [...]
SEOUL, Feb. 5 (Korea Bizwire) – A new report has revealed that well-off parents in South Korea typically spend between 600 and 700 million won ($642,700) for their children’s marriage, with nearly half of their children already having inherited property. Account holders with over 1 billion won in assets spent an average of 570 million won [...]
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, [...]
SEOUL, Dec. 22 (Korea Bizwire) — South Korea’s central bank said Friday that it has selected 12 banks, including six foreign banks, as the lenders responsible for setting prices for direct won-yuan transactions. The Bank of Korea said the lenders will also be charged with taking the lead in providing liquidity to the market. The [...]
SEOUL, April 18 (Korea Bizwire) – Organizers of the 2018 PyeongChang Winter Games on Tuesday signed KEB Hana Bank as their main banking partner. The two sides recently wrapped up their negotiations that began in February and announced their deal in a ceremony at KEB Hana Bank’s headquarters in central Seoul. The bank will reportedly [...]
SEOUL, April 11 (Korea Bizwire) – Organizers of the 2018 PyeongChang Winter Games have selected KEB Hana Bank as their main banking partner, a senior Olympic official said Tuesday. The official said the two sides have wrapped up their negotiations that began in February, and will announce their deal in a ceremony at KEB Hana [...]
SEOUL, Oct. 31 (Korea Bizwire) – South Korea’s financial authorities are looking into whether a local bank has extended preferential loans to the daughter of President Park Geun-hye’s friend at the heart of a massive influence-peddling scandal, officials said Monday. Chung Yoo-ra, a college student, is alleged to have taken out foreign exchange loans with [...]