DAEGU, Jul. 31 (Korea Bizwire) — With the current heat wave showing no signs of letting up, some banks have turned their retail branches into “resting areas” for anyone who wants to cool down from the heat. Nonghyup Bank’s Daegu office said that it would open its regional bank branches to the public until late [...]
SEOUL, Feb. 13 (Korea Bizwire) – How much? That’s the question on the minds of South Korean adults as “Seollal” or Lunar New Year (February 16) is now only days away. In the midst of a prolonged economic downturn, how much they can afford to give out as “saebae don” or New Year’s money, a [...]
SEOUL, Dec. 14 (Korea Bizwire) – A slew of changes are coming to the financial services sector, from internet banks and the postal service being given the green light to begin offering products – a means of beefing up competition and thereby creating a “catfish effect” – to shrinking the yearly sales volume of firms’ [...]
SEOUL, Oct. 31 (Korea Bizwire) – Sources within the financial industry reported on October 30 that a coalition of major South Korean banks consisting of KB Kookmin Bank, the Korea Exchange Bank and Nonghyup Bank had filed a $230 million suit against U.S. online retailer Newegg Inc and others in a Los Angeles district court [...]
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, [...]