Journalist

Kwon Ga-lim
  • Woori Bank to Offer 200 Billion Won in Online Credit Lines for Seoul Small Businesses
    Woori Bank to Offer 200 Billion Won in Online Credit Lines for Seoul Small Businesses Woori Bank said on March 19 it signed an agreement with the Seoul Metropolitan Government and the Seoul Credit Guarantee Foundation to support 200 billion won in guaranteed overdraft loans under the “Seoul-style Small Business Relief Account No. 3” program. The program is part of Seoul’s “Small Business Support Project.” It aims to quickly provide online overdraft credit lines of up to 10 million won to small business owners facing heavier operating burdens amid high interest rates and a slowing economy. The bank said it expects the program to ease funding pressure, support business stability and expand help for very small firms with limited access to finance. Eligible applicants are Seoul-based small business owners who have operated for more than one year, whose representative has a NICE credit score of at least 600, and who posted either at least 2 million won in combined sales over the past three months or at least 10 million won in reported sales over the past year. Loans are structured as one-year, lump-sum repayment products, with extensions of up to five years available after review. For the first five days after launch, applications will be accepted under a five-day rotation based on the last digit of an applicant’s birth year. From March 26, applications will be accepted without restrictions. During the rotation period, guarantee application dates by last digit are: March 19 (1,6), March 20 (2,7), March 23 (3,8), March 24 (4,9) and March 25 (5,0). To reduce financing costs, Woori Bank will cover 50% of the first-year guarantee fee and waive fees for unused overdraft limits. “This Seoul-style Relief Account No. 3 program is designed to ease small business owners’ financial burden and support a real recovery in operations,” said Park Jun-seok, head of Woori Bank’s SOHO Business Department. He said the bank will continue working with Seoul and related agencies to strengthen inclusive finance and expand practical financial support and on-site consulting.* This article has been translated by AI. 2026-03-19 15:51:57
  • Shinhan Leads Overseas Profit as KB Improves; Woori, Hana Slide
    Shinhan Leads Overseas Profit as KB Improves; Woori, Hana Slide Shinhan Bank and KB Kookmin Bank posted solid results across most overseas units, while Hana Bank and Woori Bank saw weaker performance as losses widened at key subsidiaries, the financial industry said. Results diverged sharply by market — including China, Europe and Southeast Asia — shaping winners and losers among the major lenders. According to the financial sector on the 19th, Shinhan’s 10 overseas subsidiaries posted a combined net profit of 586.9 billion won last year, the highest among the four major banks. That was up 2.59% from a year earlier. Canada Shinhan Bank swung to a loss, but most other units improved. Two core overseas operations — Japan’s SBJ Bank and Shinhan Vietnam Bank — delivered results in the 100 billion won and 200 billion won ranges, respectively, on locally tailored strategies. Shinhan Bank China’s net profit jumped fourfold from a year earlier on higher gains tied to securities. Shinhan Bank America and Shinhan Bank Indonesia expanded lending to strong local companies, with net profit rising 278.65% and 34.7%, respectively. KB Kookmin sharply reduced losses at its overseas units. The bank operates five overseas subsidiaries, including Cambodia’s Prasac and Indonesia’s Bukopin. Its overseas result improved from a 2024 net loss of 202.9 billion won to 81.7 billion won last year, turning profitable. The improvement was driven largely by Bukopin, which narrowed its net loss to 102.8 billion won after posting a 360.6 billion won net loss a year earlier. Growth of 28% in low-cost deposits and 10% in settlement-related loans helped lift performance. The Myanmar unit returned to profit on expanded local business, and KB Prasac Bank earned 152 billion won as it increased low-rate deposits. Hana Bank’s global business declined. Net profit at its overseas subsidiaries fell 33% from a year earlier to 86.8 billion won last year. Hana Bank China swung to a 39.2 billion won net loss as it set aside provisions amid a prolonged downturn in China’s real estate market. Net profit at Germany’s KEB Hana Bank also plunged 66% amid factors including falling eurozone interest rates. Hana Bancorp, a U.S. bank holding company targeting Korean-American networks, posted a 253% surge. Woori Bank’s overseas slump deepened after it had ranked second globally in overseas net profit. Net profit at its 11 overseas subsidiaries fell 79% from a year earlier to 44.9 billion won last year. A major drag was Indonesia’s Woori Sodara Bank, which swung from more than 56 billion won in net profit to a 74.1 billion won loss. Woori Bank China also posted a 52.7 billion won net loss. This year, the banks plan to focus on strengthening fundamentals at overseas units as the global operating environment grows more uncertain due to the U.S.-Iran war and rising oil prices. KB Kookmin and Shinhan said they aim to expand with high-quality assets and reinforce core earnings for sustained growth. Hana said it will boost business synergies among four branches, including two opened in India in December, and seek to improve results at its German unit by attracting financing demand tied to South Korea’s defense industry exports. 2026-03-19 15:27:00
  • Woori Bank Expands AI Banker, Turns Unstructured Data Into Usable Assets
    Woori Bank Expands AI Banker, Turns Unstructured Data Into Usable Assets Woori Financial Group is accelerating its push to embed artificial intelligence across management and operations as part of its AI transformation, known as AX. Woori Bank said it is the first in South Korea’s financial sector to pursue “assetization” of unstructured data. The bank holds large volumes of unstructured information — including financial product materials, work rules, official notices and reports — that has been difficult to use systematically. By collecting, refining and structuring that data into formats AI can learn from, employees can now search for and use needed information more quickly. Building on that data, Woori Financial developed a generative AI customer service tool called “AI Banker.” The group is applying generative AI to tasks such as knowledge search, checking internal rules, drafting corporate analysis reports and supporting customer consultations to improve efficiency. The group has also introduced a “deep research” function that automatically generates reports using internal data. It has advanced to the point of gathering and analyzing relevant data on an employee-requested topic and delivering it in report form. Woori Financial is also upgrading customer-facing services, expanding generative AI consultations from deposit and savings products to loans, subscriptions and other financial products. For loan consultations, it said the service has evolved to support the broader decision-making process by building a consultation flow that reflects a customer’s goals and conditions. * This article has been translated by AI. 2026-03-18 18:05:25
  • Hana Bank Automates Marketing and FX Reviews to Boost Efficiency
    Hana Bank Automates Marketing and FX Reviews to Boost Efficiency Hana Bank said it is expanding the use of artificial intelligence across operations, from branch sales to customer service. To raise marketing productivity for branch staff, the bank introduced an AutoML (Auto Machine Learning)-based service that recommends marketing targets. It goes beyond product suggestions by analyzing each customer’s preferences and financial usage patterns to propose the most effective marketing approach. The bank is also applying AI to foreign exchange work. It said it can automatically draft initial opinions for spot FX limit applications, aiming to improve both processing speed and accuracy. An AI asset-diagnosis service linked to its MyData platform is designed to help branch employees provide more precise wealth-management consulting. Customer-facing AI services are also being upgraded. The bank’s AI service that predicts overseas remittance processing times is intended to reduce uncertainty over how long transfers will take by calculating multiple variables and providing an estimated time in advance. With foreigners accounting for more than 5% of South Korea’s population, Hana Bank said it is strengthening related services. One example is a real-time multilingual chat counseling service within the HanaEZ app, which uses multilingual AI to help foreign customers receive financial consultations and improve satisfaction among new users.* This article has been translated by AI. 2026-03-18 18:04:57
  • IBK Industrial Bank of Korea launches dedicated review team for productive finance
    IBK Industrial Bank of Korea launches dedicated review team for productive finance IBK Industrial Bank of Korea said Tuesday it will operate a dedicated review team for “productive finance” to support innovative growth among small and midsize companies. The new team was created to respond quickly to funding needs at innovative firms in semiconductors, secondary batteries, biotech and artificial intelligence, the bank said. It is staffed by 40 specialists, including credit reviewers, certified public accountants and analysts, to speed and streamline lending decisions. The bank said it has introduced a system to complete reviews within three business days and will reflect consulting results from expert technology evaluators in its screening. The goal is to provide faster funding to companies with strong technology even if their financial statements are limited. IBK also said it will run a “head office re-review process” to re-examine loans that were rejected or delayed at review centers, aiming to ensure technology companies are not left out. “By launching this dedicated review team, we will support the expansion of productive finance and help technology-capable small and midsize firms build a foundation to grow through rapid funding,” an IBK official said. 2026-03-17 14:00:00
  • Seoul to Boost Public Delivery App Budget as Shinhan’s Ttaenggyeoyo Expands
    Seoul to Boost Public Delivery App Budget as Shinhan’s Ttaenggyeoyo Expands Seoul and other local governments are stepping up support for public food-delivery platforms, with the city planning to expand next year’s related budget to 3.5 billion won. The push comes as concerns grow that domestic demand could weaken amid global wars and rising oil prices, and officials look to public delivery apps as a way to boost small-business sales and local economies. According to the financial sector on March 16, Seoul drafted a 2026 public delivery app budget totaling 3.5 billion won: 300 million won for promotion and 3.2 billion won for district-level delivery vouchers. That is sharply higher than 108 million won in 2024 and 2.5 billion won in 2025. Ttaenggyeoyo has effectively become the sole operator in Seoul’s public delivery app market, making it a joint project that requires close coordination between the city and Shinhan Bank. Seoul and Shinhan Bank plan to closely analyze accumulated public delivery app data and expand targeted marketing. They aim to issue about 64.4 billion won worth of delivery vouchers through discounts and payback programs, roll out quarterly franchise-linked promotions, and broaden use of digital Onnuri gift certificates. They also plan to widen partnerships for delivery operations beyond a single provider, working with Kakao Mobility, GS Retail and Vroong to strengthen service competitiveness. Other local governments are also allocating funds this year. Gwangju Metropolitan City and Busan set aside 100 million won and 50 million won, respectively. The Ministry of SMEs and Startups earmarked 300 million won for research services related to revitalizing public delivery apps. Such budget support is helping Ttaenggyeoyo expand. Unlike private delivery apps, public platforms can lower their cost structure with local government backing. Ttaenggyeoyo has maintained a low brokerage fee of about 2% under that model. As a result, Seoul Delivery+Ttaenggyeoyo’s market share stood at 7.7% last year, nearly tripling from 2.64% a year earlier. Shinhan Bank has sought to broaden the platform ecosystem by linking policies such as free advertising and onboarding fees with financial support for small merchants. Cooperation is also widening beyond Seoul in areas that have put budget money into public delivery apps. By service usage share, Seoul accounts for 25%, followed by Gyeonggi (19.6%), South Chungcheong (7.1%), South Gyeongsang (6.8%), Gangwon (6.6%), North Chungcheong (5.8%), Gwangju (4.6%) and Busan (4.6%). Shinhan Bank said it plans to rapidly expand its local-government network this year. It has agreements with 51 local governments nationwide and has broadened cooperation with basic local governments such as Busan’s Dongnae District and Gijang County. It also plans a promotion this month in Gyeonggi Province offering discounts when purchasing local currency. Officials are also reviewing ways to combine public delivery apps with small-business support programs tied to supplementary budgets and with policies aimed at revitalizing local economies. “With global wars and rising oil prices, the government’s 고민 about stimulating domestic demand is growing,” a financial industry official said. “There is direct support such as help with electricity bills, but if public delivery apps increase small merchants’ sales, it can lead to broader consumption.”* This article has been translated by AI. 2026-03-17 06:06:00
  • KB Kookmin Bank Rebrands Family Office Service, Targets 2 Trillion Won in Assets
    KB Kookmin Bank Rebrands Family Office Service, Targets 2 Trillion Won in Assets KB Kookmin Bank said on the 16th it has rebranded its “KB Wise Family Office” service as “KB The First Family Office” to strengthen comprehensive, long-term wealth management for client families. To support the expanded offering, the bank created a dedicated family office unit, the “Solution Team (F/O Solution Team),” bringing together specialists in investment strategy, tax, law, accounting and real estate. The bank said it will provide on-site, end-to-end services including restructuring family asset portfolios, corporate and governance consulting, tax strategies for business succession, inheritance and gifts, and advice on domestic and overseas investments, including alternative assets. It also plans to broaden nonfinancial services by holding regular family-focused seminars and running a “successor development education program” for next-generation leaders. The bank said the program will cover core principles of wealth management, business management, key knowledge in finance, real estate and taxation, and support for building professional networks. KB Kookmin Bank said it aims to increase family office assets under management to 2 trillion won within the year, from about 1.1 trillion won as of the end of January. A bank official said the bank will offer “comprehensive solutions” spanning asset management and succession, adding that it aims to establish itself as a leading family office by strengthening customer-focused innovation and expertise built on long-term trust. 2026-03-16 16:30:00
  • NH NongHyup Financial to Open Marine and Aviation Industry Support Center
    NH NongHyup Financial to Open Marine and Aviation Industry Support Center NH NongHyup Financial Group said on the 16th it will establish a “NongHyup Financial Marine and Aviation Industry Comprehensive Support Center” to strengthen support for the marine and aviation industries in the country’s southeastern region. The move is part of the government’s “5 hubs, 3 special zones” balanced-growth policy. The center is scheduled to open in April in Changwon, South Gyeongsang Province, and is expected to serve as key infrastructure to help boost per-capita gross regional domestic product in the southeastern region. NH NongHyup Financial said it will bring together its affiliates — including banking, nonlife insurance, securities, capital and venture capital — to provide integrated financial services. Under the plan, the bank will handle lending and foreign-exchange services; the nonlife insurer will provide ship and cargo insurance; the securities unit will support corporate bond issuance, IPO underwriting and corporate finance; the capital unit will offer lending and industrial equipment leasing; and the venture capital arm will make equity investments in innovation-driven growth companies. The group plans to invest 5 trillion won over the next five years. NH NongHyup Financial said it will continue developing financial support models tailored to regional characteristics under the “5 hubs, 3 special zones” framework, drawing on its nationwide network of more than 1,200 offices. Chairman Lee Chan-woo said the new center is a proactive and essential step to advance both the balanced-development policy and the integrated goal of fostering advanced industries through “productive finance.” 2026-03-16 14:21:00
  • Citi Korea, Yanolja Expand Global B2B Payments Partnership With Virtual Cards
    Citi Korea, Yanolja Expand Global B2B Payments Partnership With Virtual Cards Korea Citibank said Friday it is strengthening cooperation with global travel tech company Yanolja on business-to-business payments and will expand the use of Citi’s virtual card solution to Yanolja’s enterprise solution member companies. The companies formalized the partnership at the “Citi Asia Digital Leaders Summit 2026” in Shenzhen, China, with senior executives attending, including Mark Luet, Citi’s head of cluster and banking for Japan, North Asia and Australia, and Lee Soo-jin, Yanolja’s group co-CEO. Yanolja will integrate Citi’s global B2B payment framework across its enterprise solution members, allowing them to maintain consistent operating processes and control standards in multi-country transactions, the bank said. Citi said its virtual card solution helps companies expand into new markets without major system overhauls, while keeping existing operations in place. It also enables clients to manage transactions by country, legal entity and business unit, while centrally overseeing global payment flows. “This partnership is a key example of how Citi supports the global growth strategies of mid-sized companies worldwide,” said Gunjan Kalia, Citi’s head of commercial banking for Japan, North Asia, Australia, South Asia and the region. He said it underscores the importance of an integrated global payments infrastructure that supports both stability and speed in international expansion. The two companies said they plan broader cooperation to support overseas expansion, including stronger risk management using artificial intelligence for suspicious-transaction detection, automated settlement and cost optimization, as well as expanded global finance and payments infrastructure.* This article has been translated by AI. 2026-03-13 17:51:45
  • Toss Unveils Stablecoin Road Map, Eyes Borderless Finance ‘Super App’
    Toss Unveils Stablecoin Road Map, Eyes Borderless Finance ‘Super App’ Toss said it is preparing for what it called the “Money 3.0” era, in which programmable money and stablecoins take the lead beyond cash and electronic money. The company said on 13 that it presented its future finance vision at the “2026 Blockchain Meetup Conference” held at the Seoul Textile Center. Seo Chang-hoon, an executive director at Toss in charge of new business, outlined next-generation financial services that combine stablecoins and artificial intelligence, saying the company will build a “borderless finance super app” by redesigning money without boundaries of “borders, products, time and actors.” It was the first time Toss has publicly disclosed its stablecoin strategy. Seo said the company, backed by about 30 million users, is laying out a blueprint for “programmable money” combined with AI. Programmable money refers to digital currency in which preset transaction conditions are executed automatically. Seo described it as a structure in which “logic is embedded in the money itself,” so the money can “think and move on its own” without people making each decision. Seo also said financial services are likely to emerge in which AI agents and blockchain-based stablecoins automate decision-making and execution for payments, remittances and investments. He said Toss will “boldly replace the rails” of its existing financial capabilities to create a borderless financial environment and deliver innovation that makes previously impossible transactions a reality.* This article has been translated by AI. 2026-03-13 16:42:00