DAEJEON, Dec. 13 (Korea Bizwire) – Amidst an abrupt termination of contracts by KB Kookmin Bank with its call center service providers in the Daejeon area, a growing number of non-regular employees, primarily call center associates, are intensifying their protests demanding the invalidation of their layoffs and assurances for employment succession. On December 12, union representatives, [...]
SEOUL, March 27 (Korea Bizwire) — Overseas branches of South Korean banks saw their combined net profit rise 23.9 percent on-year to US$807 million in 2017, thanks to a decline in loan-loss provisions, government data showed Tuesday. The total accounted for 7.7 percent of the combined net profit of banks operating in South Korea last [...]
SEOUL, Jan. 19 (Korea Bizwire) — A long-held rite of passage for new employees at big firms has in recent weeks come under fire after reports surfaced detailing allegations that newly hired female employees at Kookmin Bank (KB), who were participants in a company mandated training program, were offered contraceptives to avoid suffering from discomfort [...]
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, Oct. 30 (Korea Bizwire) — Local banks are on alert as the government tightens the screw on mortgage loans that has contributed to their profits, financial industry insiders said Monday. The Moon Jae-in administration took a series of steps since taking office in May to tame real estate speculation. It placed nearly all major [...]
SEOUL, Sept. 21 (Korea Bizwire) — KB Kookmin Card Co. said Thursday it is pushing to tap into Myanmar’s credit card market after getting the nod to set up an office in the Southeast Asian country. KB Kookmin Card, a unit of South Korea’s banking giant KB Financial Group Inc., said it won approval from [...]
SEOUL, Aug. 3 (Korea Bizwire) – South Korea’s stricter lending rules will likely affect about 400,000 potential mortgage borrowers in “speculative districts” in Seoul and the administrative capital of Sejong in the second half of the year, officials said Thursday. In its latest bid to rein in the overheating housing market, the government Wednesday designated [...]
SEOUL, Nov. 16 (Korea Bizwire) — The next main computer system of Kookmin Bank has been determined as IBM’s mainframe computer. The bank held a board of directors meeting on November 14 to approve a proposal to select the new computing system that has been the focus of a controversy for months. Kookmin Bank has [...]
SEOUL, July 31 (Korea Bizwire) — Kookmin Bank announced that it has launched “Departure Guarantee Insurance Benefits Payment Service” for foreign workers in Korea, starting from July 29. Departure Guarantee Insurance is an insurance plan required under “the Act on the Employment of Foreign Workers,” by employers who hire foreign workers in Korea. The insurance [...]
SEOUL, July 26 (Korea Bizwire) – Upon arrival of the rainy season in Korea, Kookmin Bank announced on July 24 that it is offering a “Trust Umbrella” service, which is lending customers their own umbrellas. The bank has placed a total of 10,000 umbrellas in 50 branch offices located in some of the busy streets for [...]