Journalist
Kim Yoon-seop
angks678@ajunews.com
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KB Kookmin Bank Cuts Saehuimang Holssi II Loan Rates by 1 Percentage Point KB Kookmin Bank said Sunday it cut the interest rate on new loans under its flagship low-income product, the “KB Saehuimang Holssi II,” by 1 percentage point on March 6 to ease interest burdens for financially vulnerable borrowers. The loan rate for the product fell to an annual 4.47% to 5.47% from 5.47% to 6.47%, based on the bank’s internal credit grade 3 and a loan term of at least five years. Customers who repay the “KB Saehuimang Holssi II” loan on schedule can also receive up to an additional 2.0 percentage points in rate reductions during the loan term. The rate is automatically reduced by 0.2 percentage point every six months if payments are made without delinquency. A bank official said the cut is intended to help reduce the burden on financially vulnerable people facing economic hardship, adding that the bank will continue to expand inclusive finance support so it can grow with the public and help build a better future. 2026-03-08 10:09:00 -
Hana Bank Launches Revamped Open API Platform, Hana API On Hana Bank said Thursday it has launched Hana API On, a comprehensive revamp of its open API platform, a system that lets outside companies connect to and use banking functions. The bank said the overhaul aims to improve API service quality and strengthen user convenience. Its API services are used more than 56 million times a month on average, it said. Hana API On provides the bank’s key financial services and data in API form, designed to help fintech startups and other companies more easily integrate banking features into their own services. Beyond offering APIs, the platform focuses on usability for development and operations. It also adds a testbed that allows pre-verification under conditions similar to a live environment to improve service stability. The platform’s UI and UX were redesigned to make steps from API search to application, authentication and guide review more intuitive, and it supports mobile web use. For partners, it offers core APIs including: 24-hour real-time exchange rates for 58 currencies; non-login credit loan limit inquiries; and instant account opening through partner platform channels. Hana Bank said the revamp is intended to expand access to financial services and support partner companies in creating new business opportunities. “Hana API On is a platform that connects finance and industry based on openness and connectivity in the digital era,” a Hana Bank official said. “We will continue to expand collaboration with startups and partner companies.” 2026-03-05 10:15:01 -
Jeju Bank, KT to Build Generative AI Platform in First for Regional Banks Jeju Bank will build a generative artificial intelligence platform, becoming the first regional bank to do so. The bank said Thursday it signed a contract with KT to build the platform and has begun a full-scale AI transition. The project goes beyond adopting new technology, aiming to create an environment in which employees can develop and use AI agents for work. Jeju Bank plans to complete the build in the first half of this year and then expand use in the workplace in stages. The platform will be used for tasks including real-time Q&A based on internal rules, as well as automated drafting of reports and official documents. The bank also plans to roll out AI agents to support key operations, including internal control checks, loan review support and assistance with system development work. Chief Executive Lee Hee-su called the project a key task for realizing Jeju Bank’s new vision, “Digital Jeju 2030.” “As the first regional bank to introduce generative AI into practical work, we will achieve employee-led innovation and provide customers with differentiated financial services,” he said. 2026-03-05 09:45:00 -
KB Kookmin Bank, AIA Life Sign MOU to Expand Insurance Claim Rights Trust Services KB Kookmin Bank said March 5 that it signed a memorandum of understanding with AIA Life to promote insurance claim rights trusts and expand linked trust-and-insurance services. The signing ceremony was held March 4, attended by Yoo Shin-ok, head of AIA Life’s Customer Division, and Jeon Hyo-seong, deputy head of KB Kookmin Bank’s WM Customer Group, along with officials from both companies. An insurance claim rights trust allows a policyholder to place the right to claim death benefits into a trust while still alive and to design in advance how the proceeds will be managed and paid out after the insurer makes the payment. Unlike simply naming a beneficiary, the arrangement lets the policyholder set the purpose and payout method as needed. The companies said the agreement combines KB Kookmin Bank’s trust-based wealth management capabilities with AIA Life’s insurance expertise to support structured asset management and asset transfers. They said they plan to build a stable asset succession service reflecting customer demand, aimed at more predictable transfers. A KB Kookmin Bank official said the agreement creates conditions for customers’ insurance proceeds to be transferred more securely after death, adding that the bank will continue expanding financial services as a trusted wealth management partner. 2026-03-05 09:12:00 -
NH NongHyup Bank Partners With U.S. Real Estate Platform Koriny on Investment Advice NH NongHyup Bank said March 5 that it has signed a business agreement with Koriny, a U.S. real estate platform company, to cooperate on U.S. real estate investment advisory services. Under the agreement, the two sides plan to provide professional, reliable information to customers interested in investing in U.S. real estate and to identify a range of investment opportunities. Cooperation will include providing U.S. property listings and investment information, tailored advisory services for top clients, and seminars on U.S. real estate investing. The bank said seminars and advice based on local market information and investment trends will help customers build more systematic overseas real estate strategies. “This agreement is a strategic partnership to respond more precisely to customers’ global wealth-management needs,” Yoo said. “We will continue to expand differentiated investment advisory services, including global investments, and provide customers with a wider range of wealth-management solutions.” 2026-03-05 08:54:00 -
Foreign home purchases in Seoul halve after Korea tightens property rules SEOUL, February 12 (AJP) - Foreign purchases of homes in Seoul fell by more than half after the government designated the capital and key parts of the greater metropolitan area as land-transaction permit zones for foreign buyers. The Ministry of Land, Infrastructure and Transport said Thursday its review of apartment and other home transactions from September to December last year showed sales by foreign buyers declined across designated areas compared with a year earlier. In the wider capital region — encompassing Seoul, Gyeonggi Province and Incheon — foreign home purchases fell 35 percent to 1,481 transactions from 2,279 a year earlier. The government introduced the permit requirement in August following criticism that foreign buyers were purchasing high-priced properties for speculative purposes and contributing to market overheating. Under the rule, approved buyers must occupy the property for at least two years. Seoul recorded the sharpest decline, with transactions dropping 51 percent to 243 from 496. Within the capital, purchases in the upscale Gangnam, Seocho and Songpa districts, along with Yongsan District, fell 65 percent. Seocho posted the steepest decline among Seoul’s 25 districts, with transactions plunging 88 percent to 11 from 92. By nationality, purchases by Chinese buyers fell 32 percent to 1,053, while transactions by U.S. buyers declined 45 percent to 208. Chinese nationals still accounted for 71 percent of foreign purchases, with Americans making up 14 percent, largely unchanged from a year earlier. First Vice Minister Kim I-tak said the decline suggested that demand contributing to overheating in parts of the housing market was easing. “The government will cooperate closely with local governments to thoroughly verify compliance and establish a housing market centered on real demand,” Kim said. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-02-12 15:53:13 -
Tighter loans fuel demand for smaller apartments SEOUL, February 2 (AJP) - Strong demand for homes along the Han River in Seoul has driven up prices of small or midsize apartments, as they are relatively affordable and eligible for larger loans. According to transaction data of real estate compiled by KB Kookmin Bank and released on Monday, the average price of apartments measuring 60 to 85 square meters in about a dozen districts south of the Han River stood at 1.83 billion won (about US$1.3 million) in January, up 0.96 percent from the previous month, surpassing 1.8 billion won for the first time. These districts include Dongjak, Gangnam, Gangdong, Gangseo, Geumcheon, Gwanak, Guro, Seocho, Songpa, Yangcheon, and Yeongdeungpo. In about 14 districts north of the river, prices averaged 1.14 billion won in January, up 0.83 percent from December. The increase comes after the government introduced a series of stringent measures in June and October last year to curb real estate speculation, limiting loans to 600 million won for apartments priced at 1.5 billion won or below. Separately, President Lee Jae Myung recently posted a series of messages on social media, signaling a strong resolve to rein in the overheating housing market, though it remains to be seen whether his efforts will succeed. 2026-02-02 14:36:53 -
South Korea to End Capital-Area Commuter Buses Run by Relocated Public Agencies Public agencies that relocated outside the Seoul metropolitan area will be required to stop operating chartered commuter buses to and from the capital region, a move aimed at strengthening the effectiveness of the relocation policy. The government said it will also prepare measures to improve living conditions in innovation cities. According to the government on Tuesday, the Ministry of Land, Infrastructure and Transport sent official notices to public agencies on Monday and Tuesday instructing them to wind down capital-area charter commuter bus operations run by agencies moved to innovation cities. The guidance calls for ending operations within three months, and completing all terminations within six months if contract cancellations trigger penalties. The step follows comments by President Lee Jae Myung at a New Year’s news conference on Jan. 21, when he said there is no relocation effect if agencies move to the regions but still run charter buses for commuting to the capital. A ministry survey found that, as of the end of last year, 47 of 149 relocated public agencies were operating charter commuter buses to the capital region. The buses operate from eight innovation cities, excluding Busan and Jeju, with about 22 billion won spent annually. In North Chungcheong Province, 10 of 11 agencies run weekday commuter buses to the capital region; in Gangwon Province, six of 11 do. Commuter buses for civil servants traveling between the capital region and the Government Complex Sejong were fully suspended in December 2021. The ministry said that more than a decade after the relocations, some agencies are still running commuter buses for employees traveling to the capital rather than supporting local settlement. It said the practice undermines regional economic contributions and efforts to revitalize innovation cities, and that the decision was made after interagency discussions. Separately, the ministry said it plans to speed up work to improve living conditions in innovation cities. It said ministries are identifying short-term tasks with their affiliated agencies and will also work with local governments to develop measures to improve conditions in innovation cities during a second phase of public agency relocations. * This article has been translated by AI. 2026-01-28 16:30:25 -
South Korea Secures Record 54,000 New-Build Rental Homes, Plans 44,000 Starts in Capital Area 정부가 지난해 역대 최대 규모의 신축매입약정을 체결하고 도심 주택공급에 속도를 낸다. The Ministry of Land, Infrastructure and Transport and the Korea Land and Housing Corp. (LH) said Tuesday they secured 54,000 homes through new-build purchase agreements last year, the largest total on record. The figure was up 128% from the previous year’s 41,955 homes and about six times the 9,253 recorded in 2023, the ministry said. About 48,000 of the homes were in the Seoul metropolitan area, including 15,000 in Seoul. Under the new-build purchase-lease program, LH buys privately built or planned homes after completion and supplies them as rental housing. Many are non-apartment units, including small apartment buildings and multi-family housing. Based on last year’s results, the ministry said it plans to start construction on more than 44,000 new-build purchase homes in the capital area this year, including 13,000 in Seoul. It said the plan is intended to keep on track with targets in the Sept. 7 housing supply expansion plan: 70,000 capital-area starts in 2026-2027 and a total of 140,000 by 2030. LH said it will recruit tenants this year for 11,000 purchase-lease homes in the capital area, including 3,000 in Seoul, and supply about 60% of them to young people and newlyweds. The ministry and LH said they will also strengthen quality control to provide higher-quality, tailored housing for newlyweds and young people. They also said they will conduct a full review of whether purchase prices under the program were appropriate, after President Lee Jae Myung last year criticized LH for buying newly built private homes at high prices for the purchase-lease program. The ministry said it will form an external expert-led review committee and complete the review by April. “Especially when the housing market is difficult, it is important for the public sector to send a clear supply signal backed by results,” Minister Kim said. “If last year was a year of preparation with record agreements, this year will be a year of execution through starts of more than 44,000 homes in the capital area and more than 13,000 in Seoul.” Cho Kyung-sook, LH’s acting president, said about 11,000 homes contracted in Seoul last year are in strong locations with proven infrastructure, including near transit hubs. She said LH will “take the lead in stabilizing the housing market” through strict quality control, phased starts and on-time supply.* This article has been translated by AI. 2026-01-28 16:15:00 -
Incheon airport expands global reach with record number of airlines SEOUL, January 28 (AJP) - Incheon International Airport has surpassed 100 airlines in operation for the first time since opening in 2001, underscoring its growing role as a regional aviation hub, operator Incheon International Airport Corp. (IIAC) said on Wednesday. As of December, 101 airlines were operating at the airport, up from 47 at its opening, the company said. Seven new carriers were added last year, including Scandinavian Airlines. With the increase in airlines, Incheon now serves 183 cities in 53 countries across passenger and cargo routes. At opening, the airport connected 103 cities in 38 countries, representing growth of 39 percent in countries served and 78 percent in cities, the company said. The airport now operates 159 international passenger routes, the highest number among major competing airports in Northeast Asia. Incheon also has the most routes to North America among its regional peers, with 18, according to the IIAC. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-01-28 10:52:06