Journalist

Kim yoon seop
  • SC First Bank Steps Up Private Banking Push With Pak Seri Master Class
    SC First Bank Steps Up Private Banking Push With Pak Seri Master Class SC First Bank said on April 22 it is strengthening the core values of its “next-generation private banking model” designed for high-net-worth clients and rolling out a global lifestyle program in earnest. The private banking model targets customers with at least 1 billion won in deposited assets. The bank said it has adapted wealth-management know-how proven in global markets including Singapore, Hong Kong and the United Arab Emirates to fit local conditions. As part of the lifestyle program, the bank plans to hold a “Master Class with Director Pak Seri” in May. Pak, introduced by the bank as the first customer of its private banking center, will take part in the event. Customers selected through an on-site drawing will receive a one-point lesson from Pak. The program will also include one-on-one coaching with a professional golfer and a private dinner, the bank said. SC First Bank opened a large private banking center in Apgujeong-dong, Seoul’s Gangnam district, in November and began its wealth-management business for clients with at least 1 billion won in deposited assets. It plans to add more private banking centers in the second half of this year to expand its PB customer base. The bank has also hosted experience-focused events using its global network. On April 5, in collaboration with the SC Group and The Ritz-Carlton Yacht Collection, it invited Korean customers aboard the newest vessel in the Ritz-Carlton global yacht collection, LUMINARA. The tour was held on the 46,000-ton cruise yacht while it was docked at Incheon Port, and included guided commentary and a culinary program led by LUMINARA’s executive chef. In addition, the bank worked with Porsche’s official dealer SSCL to run a docent program for new-car displays at Porsche Center Busan and Porsche Studio Hannam. Sachin Bambani, executive vice president of SC First Bank’s affluent and wealth management division, said the bank is “enriching customers’ lives through symbolic and distinctive lifestyle benefits that only a global bank can provide,” citing the master class with Pak. He said the bank will continue to set a benchmark for its next-generation private banking model based on five core values spanning space, service and experience.* This article has been translated by AI. 2026-04-22 10:39:04
  • KB Kookmin Bank launches homecoming service for overseas Koreans returning to South Korea
    KB Kookmin Bank launches homecoming service for overseas Koreans returning to South Korea KB Kookmin Bank said on the 22nd it has launched the “KB Prime Donghaeng Homecoming Service” to help overseas Koreans settle stably after returning to South Korea. The bank said the service was created to meet demand for relocation and asset restructuring as global asset-market conditions shift and interest grows in South Korea’s education and living infrastructure. Reflecting the complex needs of return-migration customers — including moving assets as well as residence — the bank plans to provide an integrated package covering administrative, tax, real estate, legal and wealth-management services. The KB Prime Donghaeng Homecoming Service is the first offering in the bank’s “Donghaeng” series for WM (wealth management) clients. It provides tailored support across the return process, including help with administrative steps such as restoring nationality, transferring overseas assets and rebuilding financial portfolios, and tax-saving and gift-tax consulting. With the launch, KB Kookmin Bank opened a dedicated return-migration counter, the “KB Homecoming Desk,” at its Myeong-dong Asset Management Advisory Center. In South Korea, customers can request consultations through nearby branches. In the United States, consultations are available through partner firm Koriny. The bank said it plans to expand eligible customers and the scope of services by linking the program with its KB WM Star Advisory Group and family office services for managing wealth at the family level. A KB Kookmin Bank official said, “We hope this service will provide practical help to customers,” adding, “We will continue to expand customer-focused comprehensive financial services based on differentiated WM capabilities.”* This article has been translated by AI. 2026-04-22 09:37:10
  • NH NongHyup Bank, NHN KCP sign MOU to build stablecoin-based payments ecosystem
    NH NongHyup Bank, NHN KCP sign MOU to build stablecoin-based payments ecosystem NH NongHyup Bank said April 22 it signed a strategic memorandum of understanding with NHN KCP to cooperate on building a stablecoin-based payment ecosystem. The agreement is aimed at jointly reviewing next-generation payment models by combining artificial intelligence agent technology with digital payment infrastructure, the bank said. Under the MOU, the two companies plan to co-design payment and settlement structures based on stablecoins and commercialize them in stages. They also plan to expand the ecosystem by linking merchant and platform networks and to improve interoperability by connecting with digital payment infrastructure in South Korea and overseas. Stablecoins are cryptocurrencies designed to minimize price swings by pegging their value to real-world assets. They are widely seen as having potential as a next-generation payment method, and discussions have been spreading quickly in global markets as major economies including the European Union and the United States move to establish rules. An NH NongHyup Bank official said the agreement is a starting point for proactively examining how stablecoins and AI can be used in real-world payments, adding that the bank will respond actively to changes in the future payments environment.* This article has been translated by AI. 2026-04-22 08:43:00
  • Shinhan Bank Launches SOL Trip & J Debit Card With Japan Travel Perks
    Shinhan Bank Launches SOL Trip & J Debit Card With Japan Travel Perks Shinhan Bank said Tuesday it has launched the SOL Trip & J debit card with Shinhan Card, adding Japan-focused benefits to its travel card lineup. The card expands Shinhan Bank's SOL Travel debit card line and is billed as the financial industry's first debit card issued under the JCB brand, aimed at improving ease of use in Japan. It includes the existing SOL Travel benefits of 100% exchange-rate preferential treatment and waived overseas payment fees. Cardholders also receive 5% discounts at major merchants including Don Quijote and convenience stores in Japan, as well as at UNIQLO, MUJI and ABC Stores in Guam and Hawaii. Through JCB Special Offers, the card provides additional partner discounts, free access to JCB airport lounges and discounts at Hoshino Resorts, with no annual fee. To mark the launch, Shinhan Bank will run a promotion from Tuesday through May 29. Among customers who newly issue the card and apply for the event, the first 2,000 will receive 5,000 My Shinhan Points. Separately, 1,000 customers who make purchases of 10,000 won or more per transaction during the event period will be selected by drawing to receive a 10,000-won Olive Young gift card. A Shinhan Bank official said the card was designed to improve convenience and deliver practical benefits as demand for travel to Japan grows, adding that the bank will continue expanding travel financial services linked to overseas payments, remittances and partner offerings centered on the SOL Travel debit card.* This article has been translated by AI. 2026-04-21 14:46:46
  • Demand Deposits at Top South Korean Banks Drop Nearly 19 Trillion Won, Raising Loan-Rate Concerns
    Demand Deposits at Top South Korean Banks Drop Nearly 19 Trillion Won, Raising Loan-Rate Concerns Demand deposits at South Korea’s five major commercial banks fell by nearly 19 trillion won in the first half of this month, fueling concerns that lending rates could rise as banks’ funding costs increase. Financial industry data showed that as of April 16, demand deposits at KB Kookmin, Shinhan, Hana, Woori and NH Nonghyup Bank totaled 680.9236 trillion won. That was down 18.9845 trillion won from 699.9081 trillion won at the end of last month. Demand deposits can be withdrawn at any time and are widely viewed as cash parked on the sidelines. Because they pay little interest, their balances tend to move with capital-market sentiment. Market participants said the renewed decline suggests investors have shifted money back into financial markets, citing increased expectations for possible negotiations to end the U.S.-Iran conflict. A sharp outflow over a short period can raise banks’ funding costs. Demand deposits help keep average funding costs low because interest expenses are limited. When those balances shrink, banks may need to rely more on higher-cost funding such as issuing bank bonds or expanding higher-yield deposit products. That burden is likely to be passed on to borrowers, including companies, as higher funding costs can translate into higher loan rates. Corporate borrowing costs have already been rising as market rates, including government bond yields, have swung since the Middle East situation escalated. A Bank of Korea survey showed the weighted average interest rate on corporate loans at banks stood at 4.20% a year as of February, up 0.05 percentage point from the previous month. Rates rose to 4.13% for large companies, up 0.04 point, and to 4.28% for small and midsize firms, up 0.07 point. At the same time, demand for corporate loans to secure working capital has continued to grow. Corporate loan balances at the five banks totaled 859.7737 trillion won at the end of last month, up 15.0483 trillion won from the end of last year. In the Bank of Korea’s loan officer survey released that day, both large companies (14) and small and midsize firms (28) were expected to see higher loan demand as they seek liquidity amid rising domestic and external uncertainty. If Middle East-driven geopolitical risks persist and upward pressure on lending rates continues, companies’ financing burdens are expected to increase further. Concerns are growing that repayment strains could widen quickly, starting with smaller firms, and weigh on the real economy. “If the share of demand deposits falls, the average funding rate has to rise,” a financial industry official said. “Given domestic and external conditions, it is also difficult for the Bank of Korea to cut its policy rate, so upward pressure on lending rates is likely to persist for some time.” 2026-04-21 14:38:11
  • Shinhan Bank to Back OCI Holdings Growth Plans With Malaysia Unit Dollar Loan
    Shinhan Bank to Back OCI Holdings Growth Plans With Malaysia Unit Dollar Loan Shinhan Bank said it will provide financial support for OCI Holdings’ future growth businesses, offering not only direct financing but also a range of solutions aimed at strengthening the company’s competitiveness in global markets. The bank said Tuesday it signed a business agreement with OCI Holdings on “productive finance support and joint cooperation for future growth.” Under the agreement, the two sides will expand financing and arrange funding for capital investment and working capital tied to future growth businesses, including semiconductors and advanced materials, as well as facilities linked to building a global solar value chain. They also plan to cooperate on green finance to advance environmental, social and governance management and support carbon-neutral efforts. As a first project, Shinhan Bank will support a $435 million plan by the Malaysia-based joint venture OTSM to build a new polysilicon plant for semiconductors, providing a standby letter of credit and a foreign-currency loan through its Singapore branch. The amount is about 640.2 billion won, the bank said. “This agreement is meaningful in that it supports, through finance, stronger competitiveness in the advanced materials industry and an expanded foundation for future growth,” a Shinhan Bank official said. “We will continue to broaden productive finance that supports corporate production and innovation-driven growth.”* This article has been translated by AI. 2026-04-21 10:27:00
  • Mortgage Balances at South Korea’s Top Banks Hit 2026 High as Homebuyers Rush In
    Mortgage Balances at South Korea’s Top Banks Hit 2026 High as Homebuyers Rush In Mortgage loan balances at South Korea’s five largest commercial banks rose by more than 5 billion won in about two weeks, as borrowers rushed to extend loans ahead of tighter rules and as spring moving demand picked up. According to the financial sector on the 21st, mortgage balances at KB Kookmin, Shinhan, Hana, Woori and NH NongHyup stood at 610.8792 trillion won as of April 16. That was up 5.453 billion won from the end of last month and the highest level this year. The five banks’ mortgage balances were 611.6081 trillion won at the end of December, then fell sharply to 610.1245 trillion won at the end of January. They then moved back and forth, reaching 610.7211 trillion won at the end of February and 610.3339 trillion won at the end of March. With mortgages rising, total household lending at the five banks also increased. As of April 16, the balance was 766.4928 trillion won, up 7.637 billion won from the end of last month. Analysts said the renewed increase in mortgages this month reflects heavy spring relocation demand and a rush tied to upcoming policy changes. With a ban on apartment-backed loans for multi-homeowners and the end of a temporary suspension of heavier capital gains taxes for multi-homeowners set for May 9, apartment prices have adjusted and buying interest has expanded again. In Seoul, price gains have become more pronounced in outlying areas with many mid- to lower-priced complexes. In the Korea Real Estate Board’s weekly apartment price survey for the second week of April (as of the 13th), Gangbuk-gu posted the biggest increase in Seoul, with the weekly rise widening to 0.27% from 0.16% a week earlier. Gangseo-gu (0.24%), Dongdaemun-gu (0.20%), Seongbuk-gu (0.20%), Seodaemun-gu (0.20%) and Guro-gu (0.17%) also continued to climb. Transaction activity has also picked up. Data from the real estate big-data platform Asil and the Transport Ministry’s transaction disclosure system showed that, among the 50 most-traded Seoul apartment complexes from Feb. 1 to April 20, 46 — or 92% — were in outlying districts such as Nowon, Dobong and Eunpyeong; Geumcheon, Gwanak and Guro; Gangseo; and Jungnang. Nowon had the most, with 22 complexes, followed by Gwanak, Gangbuk, Seongbuk and Dobong. A modest easing in mortgage rates this month also appears to have supported demand. The five banks said their average fixed mortgage rates stood at 4.14% to 6.74% as of the 21st, compared with 4.42% to 7.02% on March 31, with the upper end down 0.26 percentage points. The change reflected a drop in the five-year AAA unsecured financial bond yield — a key benchmark for fixed mortgage rates — to 3.865% as of April 17 from 4.051% at the end of last month. Last month, banks’ lending rates kept climbing, with the upper end topping 7%, as market rates jumped after international oil prices surged amid a U.S.-Iran clash. This month, rates have eased as expectations grew for an end to the war after U.S. President Donald Trump repeatedly mentioned the possibility of a ceasefire agreement with Iran. A bank official said that with rates slightly lower than last month and the housing market entering a period of adjustment ahead of new regulations, demand appears to be rising for buyers seeking bargain listings. The official added that while trends may differ by bank, overall mortgage balances are likely to keep increasing for the time being.* This article has been translated by AI. 2026-04-21 06:03:39
  • Woori Bank, Kibo to Provide About $150 Million in Support for SMEs Hit by Mideast War Risks
    Woori Bank, Kibo to Provide About $150 Million in Support for SMEs Hit by Mideast War Risks Woori Bank will work with the Korea Technology Finance Corp., known as Kibo, to support small and medium-sized companies affected by global instability, including the war in the Middle East. The bank said Sunday it signed a business agreement with Kibo on an “inclusive financial support” program to help SMEs overcome the crisis. Woori plans to make a special contribution of 4 billion won to Kibo and provide about 210 billion won in financial support. Eligible firms include direct exporters to the Middle East, companies hurt by disruptions in Middle East crude oil supply chains, businesses facing management difficulties, and companies affected by the Middle East war that are recommended by Woori Bank. Participating firms will be offered benefits including a higher guarantee coverage ratio to 100% from 85%, support for guarantee fees of 0.5 percentage points, special treatment in calculating guarantee limits, eased screening, and preferential guarantee limits. “This agreement was prepared to minimize the management shock to SMEs caused by the Middle East war,” said Park Hwa-geun, a deputy general manager in Woori Bank’s corporate sales strategy division. “We will continue to cooperate with related institutions to respond to external risks, while faithfully carrying out our push to shift toward productive finance and expand inclusive finance.”* This article has been translated by AI. 2026-04-20 09:09:00
  • Korean Banks Face Rising Corporate Loan Delinquencies as Business Lending Grows
    Korean Banks Face Rising Corporate Loan Delinquencies as Business Lending Grows Government and financial regulators have been urging banks to expand funding for innovative companies under the banner of “productive finance,” but banks are facing a growing dilemma. As tighter rules on household lending pushed banks to increase corporate loans, delinquency rates have also climbed sharply. With business lending rising quickly, the jump in delinquencies is adding to banks’ risk-management burden. According to the Financial Supervisory Service on April 19, the delinquency rate on corporate loans at domestic banks stood at 0.76% at the end of February, up 0.09 percentage point from the previous month. It was the highest level in nine months since May last year (0.64%). The rate was also higher than the household-loan delinquency rate of 0.45%, underscoring growing asset-quality pressure in the corporate sector. By company size, the delinquency rate on loans to small and midsize enterprises rose to 0.92%, up 0.10 percentage point from a month earlier, the highest since May last year (0.95%). Conditions worsened further for smaller corporate borrowers: the delinquency rate on loans to SME corporations climbed to 1.02%, up 0.13 percentage point, returning above 1% for the first time in nine months since May last year. Delinquencies on loans to large companies also increased, reaching 0.19% at the end of February, the highest level in 28 months since October 2023. The rise is being attributed to a weakening domestic economy and greater external uncertainty that are increasing repayment strain across businesses. The data predate any impact from the U.S.-Iran war, suggesting the figure could worsen. Corporate loans carry higher risk weights than household loans, which can significantly increase risk-weighted assets and put downward pressure on banks’ common equity Tier 1 capital ratios. If nonperforming loans rise and banks set aside more loan-loss provisions, profitability and capital buffers can be eroded. That can put the government’s push to expand corporate lending at odds with banks’ efforts to control risk. With the government reinforcing its “productive finance” drive, banks say they have limited room to manage loan growth on their own. Authorities are pressing for stronger corporate support and balanced regional development, making expansion of business lending difficult to avoid. In recent months, commercial banks have moved competitively into the sector, including by awarding extra points in key performance indicators for new “productive finance” lending. Industry officials have warned that expanding lending without tighter asset-quality controls could increase bad loans. “A rapid rise in corporate lending, combined with an upswing in delinquencies, is quickly increasing the burden of soundness management,” a financial industry official said. “Aggressively expanded corporate loans could lead less to positive effects such as support for the real economy and more to higher delinquency rates and growing potential bad debt.” 2026-04-19 17:04:16
  • Woori Bank to Invest 460 Billion Won in 35 Mid-Sized Firms Under Rising Leaders Program
    Woori Bank to Invest 460 Billion Won in 35 Mid-Sized Firms Under Rising Leaders Program Woori Bank said April 19 it has selected 35 companies for the seventh round of its “Rising Leaders 300” financing program with South Korea’s Ministry of Trade, Industry and Energy and will begin full support. Rising Leaders 300 is a “productive finance” initiative designed to identify and back mid-sized companies with strong technology and growth potential. Woori Bank and the ministry have jointly run the program since 2023. The seventh-round selection followed a recruitment notice issued in March, recommendations from four ministry-affiliated agencies and Woori Bank’s review. The final list includes Dr.Agg, Jahwa Electronics, Silicon2 and Powermax, among 35 firms. Through rounds one through six, Woori Bank selected 190 companies and provided about 1.8 trillion won in support. For the seventh round, the bank plans support totaling about 460 billion won. Selected firms will be eligible for up to 30 billion won each, with an interest-rate discount of up to 1.0 percentage point in the first year. The bank also plans to provide nonfinancial services, including export-import finance solutions and digital transformation consulting. “Our goal is to provide practical financial benefits so mid-sized companies with growth potential can take the next step in global markets,” said Park Hwa-geun, a general manager in Woori Bank’s corporate sales strategy department. He said the bank will continue productive finance support to help secure future growth engines for mid-sized firms and add vitality to the economy. 2026-04-19 11:03:57