SEOUL, Jun. 17 (Korea Bizwire) — Shinhan Bank and the Korea Trade Insurance Corp. (K-Sure) will provide up to 1 trillion won (US$720 million) to support small and medium-sized export firms, the financial regulator said Monday. Under a memorandum of understanding (MOU) signed Monday, Shinhan Bank will offer loans at preferred rates to firms seeking [...]
SEOUL, Oct. 24 (Korea Bizwire) – The LG Twins have secured the regular season crown in the KBO League, marking their first pennant win in 29 years. Since their last championship in 1994, the Twins have ranked second several times but mostly remained a middle to lower-tier team. After finishing as runners-up in the KBO pennant [...]
SEOUL, March 8 (Korea Bizwire) — Major South Korean lender Shinhan Bank said Monday it will introduce artificial intelligence (AI)-based automated teller machines (ATMs) that detect abnormal activities to prevent voice phishing. The new ATMs detect a user’s suspicious activities, such as talking on their cell phone while using the machine or wearing sunglasses or [...]
SEOUL, Jan. 17 (Korea Bizwire) — KT Corp., South Korea’s major telecom operator, said Monday it has partnered with major South Korean lender Shinhan Bank to collaborate in new businesses, including artificial intelligence and platform services. KT said it will also acquire a 2.1 percent stake in Shinhan Bank for 437.5 billion won (US$366.9 million) [...]
SEOUL, Dec. 28 (Korea Bizwire) — Major South Korean lender Shinhan Bank has turned its branch in Sillim-dong, southern Seoul into a so-called ‘digital store’ to better accommodate senior customers. The branch focused on setting up automated devices and making it easier for senior customers to use them. The size of the menu button on [...]
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, March 13 (Korea Bizwire) — Income polarization deepened in 2017 with high income earners making more while low income earners brought in less. In addition, while individual income fluctuated by small margins, average household income and consumption fell. These conclusions were derived from a report published by Shinhan Bank that conducted research on the [...]
SEOUL, Jan. 15 (Korea Bizwire) – Shinhan Bank, one of South Korea’s largest lenders, will serve as the title sponsor for the nation’s top professional baseball league over the next three seasons. The Korea Baseball Organization (KBO) announced its three-year partnership with Shinhan on Monday. The amount of the sponsorship fee and the new league emblem will be unveiled at a signing ceremony in Seoul on Tuesday. Shinhan Bank also owns a [...]
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 [...]
SEJONG, April 10 (Korea Bizwire) – Korea’s financial services industry recorded 9.2 percent in output growth last year largely driven by interest revenues from growing household loans, government data showed on Sunday. According to Statistics Korea, the year-on-year production growth of financial institutions in 2016 was more than triple the 3 percent reported for the overall services industry. By institution, banks gained 9 percent, the highest since 11.8 percent in 2008. Nonbank [...]