SEOUL, Nov. 24 (Korea Bizwire) — Woori Bank, one of South Korea’s largest commercial banks, said Wednesday it will be releasing a new installment savings plan that will provide a high annual interest rate of up to 11 percent for those who walk more than 10,000 steps a day. The availability of this installment savings [...]
SEOUL, May 9 (Korea Bizwire) — A Woori Bank employee who was arrested last month on charges of embezzling 61.4 billion won (US$48.2 million) was found to have lost more than half of the stolen money from investments in high-risk stock derivative products, police said Monday. The employee, identified only by his family name Jeon, [...]
SEOUL, May 6 (Korea Bizwire) — Police on Friday referred an employee of Woori Bank, one of South Korea’s largest commercial banks, and his brother to the prosecution on charges of embezzling more than 60 billion won (US$47 million), officials said. The employee is suspected of having embezzled a total of 61.4 billion won through [...]
SEOUL, April 30 (Korea Bizwire) — An arrest warrant was issued Saturday for an employee of Woori Bank, one of South Korea’s largest commercial banks, suspected of embezzling more than 60 billion won (US$47 million). The Seoul Central District Court issued the warrant for the employee, whose identity was withheld, ruling that the suspect posed [...]
SEOUL, Aug. 6 (Korea Bizwire) — Woori Bank, a major lender in South Korea, announced on Thursday that it had joined the metaverse alliance and would roll out metaverse-based future financing products and services. The metaverse refers to a shared virtual space, in which users interact with each other through digital avatars and experience a [...]
SEOUL, April 19 (Korea Bizwire) — Major South Korean lender Woori Bank has launched a drive to develop an artificial intelligence (AI) banker. The bank said recently that it had signed a business agreement with LionRocket, a local tech startup specializing in deep learning-based image synthesis technologies, for development of the AI banker. The AI [...]
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, Jan. 23 (Korea Bizwire) — Unions in the South Korean banking sector are demanding a position on the board of directors to better represent themselves with management. According to sources close to the banking industry, an increasing number of financial institutions including KB Financial Group, Shinhan Bank and Woori Bank are addressing calls from labor [...]
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, Nov. 30 (Korea Bizwire) – The board of Woori Bank on Thursday named its acting chief Sohn Tae-seung the new head of South Korea’s No. 3 lender, officials said. Sohn, the lender’s executive vice president and head of the global business group, was designated to lead the bank for a three-year term at a meeting of board members. Sohn, 58, has [...]