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Fri, July 1, 2022 | 02:37

Mastercard picks head of Korea operations to lead Northeast Asian division

Mastercard has appointed Choi Dong-chun, the head of its operations in Korea and three other regions, to lead its entire Northeast Asia business, the company said Monday. Choi has been leading the U.S.-headquartered multinational company's operations in Korea, Hong Kong, Macau and Taiwan since September 2017.

Anna J. Park | 2022-05-30 16:01

Woori Financial launches foundation for public interest

Woori Financial Group will launch a foundation dedicated to providing multilateral support to the socially vulnerable and young generation here, the company said Sunday. The decision is part of Woori's group-wide efforts to fulfill the environmental, social and corporate governance (ESG) management. Under the plan, Woori's 15 affiliates will raise 20 billion won ($15.92 milli...

2022-05-29 16:18

More investors file complaints against Terraform co-founders

A second group of investors in Terraform Labs' troubled cryptocurrencies filed complaints Friday against its co-founders on charges of fraud.

2022-05-27 21:43

KDB relocation emerges as last-minute campaign issue in Seoul, Busan mayoral elections

The rival mayoral candidates for both Seoul and Busan are capitalizing on President Yoon Suk-yeol's plan to relocate the Korea Development Bank's (KDB) headquarters outside the nation's capital in their last-minute campaigns to woo voters in the June 1 local elections. Yoon wants to move the state-run KDB to Busan in the name of balanced regional development, which collides w...

2022-05-27 16:22

FSS extends inspection on scandal-tainted Woori Bank

The Financial Supervisory Service (FSS) will extend its inspection of the scandal-tainted Woori Bank, citing the need to look deeper into the lender's internal control system after one of its employees was arrested for allegedly embezzling more than 60 billion won ($47.3 million) from the lender last month. The financial authority was supposed to wrap up its investigation by ...

2022-05-26 16:01

Eximbank awarded for supporting SMEs in exports

The Export-Import Bank of Korea (Eximbank) got a presidential commendation for supporting the country's small and medium-sized enterprises (SMEs) in their exports. According to Eximbank, it was awarded the presidential commendation at the annual convention for SMEs organized by the Korea Federation of SMEs at the presidential office complex in Yongsan District, Seoul, Wednesd...

2022-05-26 13:37

Mirae Asset, Hyundai Card team up for private label credit card

Mirae Asset Securities will launch a private label credit card (PLCC) by teaming up with Hyundai Card sometime in the latter half of this year. This will mark the first time for a Korean securities company to sign a PLCC partnership with a local credit card business operator. A PLCC is a special credit card issued for customers who want to receive benefits with a certain bran...

2022-05-25 16:58

Brokerage firms choose to sell buildings for higher profitability

With the country's real estate prices continuing to soar, major securities firms are choosing to sell their own buildings and remain as a tenant, so they can divert their profits to investment banking or prop up trading to yield higher returns. Shinhan Financial Investment is currently in negotiations with a consortium of IGIS Asset Management and KKR to sell its office build...

Anna J. Park | 2022-05-25 16:46

KakaoBank partners with 7-Eleven

KakaoBank has partnered with convenience store chain 7-Eleven for the first time, offering benefits for customers using Moneybox, a savings tool of the digital bank. The online-exclusive bank plans to partner with more business brands in various sectors so as to expand its influence further. Any customers of KakaoBank can register for the “Moneybox with 7-Eleven” partnership ...

Anna J. Park | 2022-05-25 16:46

Despite Luna fiasco, Wemade set to launch stablecoin

Wemade has reiterated its willingness to issue its own stablecoin despite increasing negative sentiment in the global cryptocurrency industry following the sudden collapse of once-prominent Terra and Luna coins. Chang Hyun-guk, CEO of the local games publisher, shared Tuesday the company's vision to push ahead with its earlier plan to launch the tentatively-named WEMIX Dollar...

2022-05-25 15:48

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