Nonghyup Bank Archives | Be Korea-savvy
Gov’t Shakes Up Financial Services Sector, Looks to Create “Catfish Effect”

Gov’t Shakes Up Financial Services Sector, Looks to Create “Catfish Effect”

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’ [...]

Korean Banks File $230 Million Lawsuit against U.S. Online Retailer Newegg

Korean Banks File $230 Million Lawsuit against U.S. Online Retailer Newegg

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 [...]

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, [...]