bank
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Business
COVID-19 shaking neoliberal system
By Peter Jaegeul Song Staff Reporter at Asia N SEOUL: Most countries expect negative growth as the global stock price and oil prices have plunged more than 30 percent due to the coronavirus infection (COVID-19). Investment bank Morgan Stanley expects the U.S. gross domestic product to fall more than 30…
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East Asia
Seoul to complete privatization of Woori Financial by 2022
The government plans to sell its remaining stake in Woori Financial Holdings Co. by 2022, in a bid to recoup taxpayers’ money that was used to bail out the financial holding firm in the wake of the financial crisis in 1997, the financial regulator said Tuesday. In a statement, the…
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East Asia
S. Korea: two years on, Internet-only banks bring about changes to financial sector
In the two years since the launch of the country’s first Internet-only bank, South Korea’s banking sector has moved towards digitalization to better satisfy customers’ growing appetite for convenient and diverse financial experiences. As new Internet-only banks get ready to set sail next year, competition in the industry is expected…
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East Asia
S. Korean banks’ household lending grows faster in February
Household lending extended by South Korea’s major banks picked up the pace in February due to the growth in credit loans, market data showed Tuesday. The country’s five major lenders — KB Kookmin, Shinhan, Woori, KEB Hana, and Nonghyup — had 573.91 trillion won (US$509.87 billion) in outstanding household loans…
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East Asia
North Korea will soon open commercial bank, mobile banking
North Korea seems to be ready to establish its first commercial bank, Korea Development Bank (KDB) researcher Kim Young-hui told The Korea Times, Tuesday. “I think it could happen in the near future, within a year at most,” said Kim, Senior Research Fellow at KDB’s Korean Peninsula New Economy Center.…
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