Journalist

Kwon Ga-rim
  • 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
  • Kakao Pay Adds Information Services to Business Scope, Signaling Stablecoin Push
    Kakao Pay Adds 'Information Services' to Business Scope, Signaling Stablecoin Push Kakao Pay is moving to expand its stated business scope in a step widely seen as formalizing plans tied to stablecoins. The move comes as South Korea nears passage of a second phase of digital-asset legislation, and is viewed as early positioning to compete in stablecoin issuance and distribution. According to the financial industry on the 13th, Kakao Pay plans to add “other information services” as a new business purpose at a shareholders meeting scheduled for March 23. The addition is being interpreted as part of building a next-generation digital wallet that can hold, trade and exchange a range of digital assets. A Democratic Party task force and the Financial Services Commission agreed during the second-stage virtual-asset legislative process to diversify stablecoin issuers beyond a bank-centered model, opening a path for fintech companies to take a leading role. Kakao Pay, along with Naver and others, has been cited as one of the companies expected to benefit most from adopting a stablecoin system. If a won-denominated stablecoin is introduced, the company is expected to see demand tied to consumers’ overseas direct purchases and overseas customers buying fandom goods, while also reducing financial costs, the report said. While major banks and card companies are building stablecoin cooperation frameworks, Kakao Pay is preparing at the Kakao Group level. Kakao Pay CEO Shin Won-geun is leading the group’s stablecoin task force and driving coordination among affiliates. KakaoBank is responsible for responding to financial regulation and building account-based trust infrastructure, while Kakao Pay will handle payments and remittances. Kakao Pay has previously pursued a blockchain-based identity verification service, giving it relatively strong familiarity with blockchain technology. Kakao is exploring service expansion based on its platform ecosystem, and is expected to seek synergies across affiliates in areas where stablecoin payments could be applied, including commerce, entertainment, content and mobility. Kakao Pay has steadily added new business lines to strengthen competitiveness in both nonfinancial and financial services. In 2022, it added △personal credit information management △specialized personal credit rating △buy-now-pay-later and lending-related services. In 2023, it added △online brokerage for sales of goods and services, and in 2024 △location information and location-based services. The company reached profitability for the first time last year. Operating profit totaled 42.7 billion won, marking its first operating profit since the company launched in 2017 and ending nine years of operating losses. Net profit also turned positive at 41.0 billion won. Payment-service revenue rose 5.74% from a year earlier to 518.1 billion won. Over the same period, financial-services revenue increased 58% to 387.9 billion won, and platform-services revenue climbed 62% to 52.2 billion won. If stablecoin-related business is added, Kakao Pay’s growth engine is expected to strengthen further. According to the securities industry, Kakao Pay’s operating profit is projected at 128.0 billion won this year, 260.0 billion won in 2027 and 586.3 billion won in 2028. 2026-03-13 16:21:49
  • Woori Bank to Launch Prepaid Card for Foreign Visitors in April
    Woori Bank to Launch Prepaid Card for Foreign Visitors in April Woori Bank said Friday it signed a business partnership agreement, or MOU, with NOL Universe and Kona I to provide financial services built around a prepaid card designed for foreign customers. The partnership aims to improve payment convenience and access to financial services for overseas tourists visiting South Korea. The three companies plan to jointly roll out the prepaid card service, targeting an April launch, and will work on system integration and building the partnership infrastructure. The service will be offered through NOL Universe’s travel, ticket and experience platform, NOL World, in two formats: products bundled with high-demand items such as K-performance tickets and tourism packages, and a standard option that allows customers to purchase the card on its own. Through Kona I Co., which operates domestic card payment infrastructure, the card will support transit payments as well as purchases at online and offline merchants. The companies also plan to offer special benefits at major merchants frequently used by foreign tourists. Woori Bank said it will distribute the prepaid cards at currency exchange counters at Incheon International Airport so visitors can use them immediately upon arrival. It also plans to provide what it called industry-leading exchange-rate discounts for domestic use and to support exchange and top-up services through the bank’s unmanned exchange machines and ATMs. “As demand from foreign tourists continues to rise, we have prepared a differentiated ‘Tourist Finance’ service that can be used conveniently anytime and anywhere,” said Kim Go-woon, deputy head of Woori Bank’s foreign exchange business division. “We will continue to expand financial services for global customers based on this partnership.”* This article has been translated by AI. 2026-03-13 11:04:46
  • KB Financial Holds Group Information Security Council to Strengthen AI Security
    KB Financial Holds Group Information Security Council to Strengthen AI Security KB Financial Group said Friday it held its first-quarter Group Information Security Council meeting to help build a safer financial environment. Information security executives from the holding company and 11 affiliates attended, along with Choi Seok-mun, a vice president who serves as the holding company’s compliance officer. Under the group’s information security operating guidelines, the council functions as a control tower for setting strategy, making decisions on key issues and 추진ing joint projects. Participants discussed major security tasks for responding to the digital environment, including plans to establish a mid- to long-term group information security master plan, measures to advance the cyber security center’s operating performance and organizational structure, and the creation of a groupwide integrated security monitoring system. The compliance officer also attended the session, where participants reviewed the annual business plan and strategies for responding to key regulations. Topics included compliance measures aligned with the enactment of the Digital Finance Safety Act and the implementation of the Framework Act on Artificial Intelligence. KB Financial said it will also prepare groupwide guidelines to address emerging threats such as data leaks and model bias. KB Financial said a key feature of its information security organization is that it operates under the holding company’s compliance officer, aiming to balance strict controls with technology and strengthen responsibility for protecting customer information. “While advances in AI technology are making financial services more convenient, the underlying security system must also become more sophisticated,” a KB Financial official said. The official said the group will seek “synergy” between compliance and security technology to provide customers with a safe financial environment that can withstand threats. * This article has been translated by AI. 2026-03-13 09:21:00
  • KB Kookmin Bank Commits 500 Billion Won to Growth Infrastructure Fund for Advanced Industries
    KB Kookmin Bank Commits 500 Billion Won to Growth Infrastructure Fund for Advanced Industries KB Kookmin Bank said Thursday it has committed 500 billion won to the KB Kookmin Growth Infrastructure Fund to help build infrastructure for advanced strategic industries. The fund is a 1 trillion won blind pool. KB Asset Management will set up and manage it, and it will be financed entirely with funds from KB Financial Group, including KB Kookmin Bank, KB Insurance and KB Life. The fund will adopt what the bank described as the industry’s first “perpetual closed-end infrastructure fund” structure, aimed at reducing profit-and-loss volatility that can arise in managing large funds. The bank said the structure provides a stable operating base despite the fund’s size in Korea’s infrastructure finance market. The KB Kookmin Growth Infrastructure Fund plans to invest in domestic digital infrastructure, energy infrastructure, the renewable energy transition, and social overhead capital projects tied to balanced regional development. A key project under review is the “Yongin Semiconductor Cluster district energy project.” The bank said it will continue to identify mega infrastructure projects that can raise South Korea’s growth potential. KB Kookmin Bank has been expanding financial support for large infrastructure projects, including arranging financing for the “Sinan Ui offshore wind power project,” selected as the first investment for the Kookmin Growth Fund, and committing capital to the KB Kookmin Growth Infrastructure Fund. The bank said it aims to contribute to meeting the Kookmin Growth Fund’s 10 trillion won supply target under KB Financial Group’s plan to provide 93 trillion won in productive financing by 2030. A KB Kookmin Bank official said the fund is intended to strengthen South Korea’s future growth foundation by expanding investment in advanced strategic industries and core national infrastructure. The official said the bank will continue to support sustainable economic growth and stronger industrial competitiveness through productive financing.* This article has been translated by AI. 2026-03-12 09:15:00