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Sun, August 14, 2022 | 12:30

Korean blockchain operators urged to enhance vigilance against accidents

Korean blockchain operators are being urged to reinforce verification of their software programs and stay alert to any danger signs amid unceasing concerns over the possible recurrence of an accident similar to the recent Terra-Luna fiasco, industry officials said. It has been three months since the once-promising algorithmic stablecoin and its sister token stunned the blockc...

Lee Min-hyung | 2022-08-14 08:46

Why has Apple Pay been unavailable in Korea?

Talk of Apple Pay launching in Korea in partnership with a local credit card company is drawing interest to just what has prevented the entry of the tech giant's payment service here, since its introduction in 2014. In Asia, Apple Pay is available in mainland China, Japan, Taiwan, Hong Kong, Singapore and Malaysia. Questions have been raised over why Korea, where iPhones acco...

Kim Bo-eun | 2022-08-13 10:32

[Exclusive] KDB accelerates drive to set up new hub in EU

The Korea Development Bank (KDB) has initiated steps to set up a branch in Germany in order to establish a new base within the European Union (EU). The state-run lender has drawn up a task force for the purpose, and dispatched personnel to Frankfurt last month, a senior KDB official said. The task force will take steps to switch the KDB's office there into a branch to conduct...

Kim Bo-eun | 2022-08-12 15:22

FSS to examine Korea Investment & Securities' trading system failure

Following a recent 15-hour system failure at Korea Investment & Securities earlier this week, the Financial Supervisory Service (FSS) has begun to look into the case, as the financial watchdog agency has been receiving reports of related facts from the brokerage company. The financial authority will decide whether to impose sanctions on the firm over the system failure, after...

Anna J. Park | 2022-08-11 16:11

MSCI appoints new head of Korea office

MSCI has appointed Eric Yun as the new leader of its Korea office. Yun will focus on expanding the MSCI's client base in Korea and drive its sales growth in the local market, the U.S. finance firm said. He took on the new role as the head of Korea client coverage at MSCI on Aug. 1

Lee Min-hyung | 2022-08-11 14:42

Internet banks perform poorly in board gender diversity

Internet-only banks that have been vocal about their demand for innovation have turned out to be actually lagging behind their traditional peers in their environmental, social and corporate governance (ESG)-related efforts. They've been especially weak in fulfilling the governance factor. K bank and Toss Bank haven't even appointed any female independent board members yet, wh...

Anna J. Park | 2022-08-11 08:24

Woori Financial, WWF co-host circular economy conference

Woori Financial Group, jointly with the World Wildlife Fund (WWF), hosted a conference on circular economy in Seoul in line with the international green campaign, the lender said Wednesday. The circular economy refers to a concept that gives incentives to reusing products, rather than discarding them and then extracting new resources.

Yi Whan-woo | 2022-08-10 16:29

Samsung's financial arms hit by earnings falls amid stock slump

Samsung's financial arms are forecast to report steep earnings declines amid the stock market slump and weak sales environment. According to data from market tracker FnGuide, Samsung's four financial affiliates, Samsung Life Insurance, Samsung Fire & Marine Insurance, Samsung Securities and Samsung Card, are estimated to have produced a combined net profit of 1.82 trillion wo...

Lee Min-hyung | 2022-08-10 15:01

Korea Investment & Securities' trading system crippled by torrential rain

Following a half-day system failure due to heavy rainfall, Korea Investment & Securities' transaction system resumed operating on Tuesday. The brokerage vowed to compensate those whose stock trading had been hampered by the system failure. According to the firm, the system has been normalized as of 7 a.m. on Tuesday morning, some 15 hours after the company's home trading syst...

Anna J. Park | 2022-08-09 16:25

Carlyle CEO Kewsong Lee's sudden resignation draws attention

Carlyle Group Chief Executive Kewsong Lee, 56, stepped down from his post earlier this week, drawing market attention to his sudden resignation. The renowned Korean-American CEO's departure from his post came several months prior to the official termination of his five-year term, which is slated for the end of this year. Lee had also stepped down from the firm's board as well.

Anna J. Park | 2022-08-09 16:25

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