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Reporter : Yi Whan-woo
Tue, January 31, 2023 | 22:58
Hana Financial Group nominates new bank chief
Hana Financial Group has nominated Lee Seung-yeul, the chief of Hana Life Insurance, as the new CEO of Hana Bank in the first reshuffle of heads of the group's key affiliates after its Chairman Ham Young-joo took office early this year, the company said Wednesday.
Banks anticipated to shift away from interest-oriented profit strategy next year
The series of steep rate hikes throughout 2022 have been causing people to take out fewer loans, prompting commercial banks to search for alternative ways to make profits in 2023 after relying heavily on net interest incomes. The total amount of household debt, which stems mainly from housing loans, dropped to 1,058.8 trillion won ($776 billion) as of October from 1,060.7 tri...
Yoon's ex-campaign chair appointed to lead NongHyup Financial
Lee Suk-joon, President Yoon Suk-yeol's former campaign chair for the 2022 presidential election, has been appointed to lead NongHyup Financial Group, the company announced on Monday. The company said that Lee's appointment was confirmed by the shareholders and board of directors, Monday, after he was the only candidate to be recommended for the position by its executive cand...
Shinhan case raises concerns over gov't influencing bank leaders
Shinhan Financial Group Chairman and CEO Cho Yong-byoung's decision to drop out of the firm's next leadership race, Thursday, is heightening concerns that the banking industry is becoming more susceptible to the government's influence in the appointment of its chiefs. The possibility has been raised of President Yoon Suk-yeol's administration intentionally influencing the ind...
Woori pledges to support British teen environmental activists
Woori Financial Group announced on Friday that it will sponsor Kids Against Plastic, an environmental group founded by British teenage sisters with a goal of tackling plastic pollution around the world.
Shinhan Financial nominates banking CEO as next leader
Shinhan Financial Group said Thursday it has nominated Shinhan Bank CEO Jin Ok-dong as its next leader. Jin, 61, will be officially appointed as the new chairman for a three-year term upon confirmation by shareholders and board of directors in their respective meeting in March next year.
Eased COVID lockdowns in China raise hope for sluggish Korean exports
China is easing “zero COVID” restrictions, fueling optimism that the softened policy will help accelerate China's economic recovery and benefit Korean exports struggling with dwindling demand, according to analysts, Thursday. “China's COVID lockdowns have been a burden for the East Asian economy as well as the rest of the world, and the Chinese economy is anticipated to bounc...
S&P economist forecasts 1.4% growth for Korea in 2023
Korea's economy in 2023 is forecast to grow by 1.4 percent, down from the country's estimated growth of 2.7 percent in 2022, in the midst of a prolonged global economic slowdown that will affect trade-reliant economies in Asia, a senior economist at S&P Global Ratings said Wednesday. S&P's 2023 growth outlook for Korea is lower than forecasts from other entities in and outsid...
Statistics agency inks deal with anti-drug UN body to upgrade partnership
The country's statistics agency has signed an agreement with an anti-drugs body of the United Nations with the intention of upgrading their partnership concerning data on drug-related crimes in the Asia-Pacific region. Statistics Korea said Tuesday it inked the deal with the U.N. Office on Drugs and Crime (UNODC) at its headquarters in Vienne, Austria, Monday, to enhance thei...
Yoon's ex-election camp aide emerges as candidate to lead NongHyup Financial
Lee Suk-joon, former chief of the Office for Government Policy Coordination, is being considered as a potential candidate to lead NongHyup Banking Group, according to sources familiar with the matter, Tuesday. If realized, Lee will replace incumbent NongHyup Financial Group Chairman and CEO Son Byung-hwan, who was thought to be going for his second term after taking office in...
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