Journalist

Kwon Ga-rim
  • IBK Industrial Bank of Korea Launches Task Force to Boost KOSDAQ Research and IR Support
    IBK Industrial Bank of Korea Launches Task Force to Boost KOSDAQ Research and IR Support IBK Industrial Bank of Korea said Tuesday it has formed an "IBK KOSDAQ Activation Task Force" to reduce information gaps in the KOSDAQ market and support growth for small and venture companies. The task force will target KOSDAQ-listed companies and firms preparing initial public offerings, aiming to improve investors' access to information and broaden companies' funding options. IBK plans to hold two joint investor relations events with the IBK Financial Group in May and December for KOSDAQ-listed companies to expand communication between companies and investors. It will also survey difficulties such as attracting investment and promoting companies among about 1,600 KOSDAQ-listed firms that do business with the bank, and publish a policy report on steps to revitalize the market. IBK Investment & Securities, which recently opened a KOSDAQ research center, will work with the bank to expand its analysis reports on KOSDAQ-listed companies to 350 by the end of this year. The bank said the planned coverage would be among the largest by a domestic securities firm and is intended to help close information gaps in the KOSDAQ market, where investor information is relatively limited. IBK CEO Jang Min-young said the bank will "ease the shortage of investment information in the KOSDAQ market" and strengthen links between companies and investors to build a healthy investment ecosystem centered on small and venture companies. He added that, as a policy finance institution, IBK will continue providing support to help invigorate the KOSDAQ market. 2026-03-11 14:45:00
  • Hana Bank, Jeju Province Sign Deal to Attract and Support Relocating Companies
    Hana Bank, Jeju Province Sign Deal to Attract and Support Relocating Companies Hana Bank said Wednesday it signed a memorandum of understanding with Jeju Special Self-Governing Province to build a public-private base for attracting companies to the island. The agreement is aimed at helping companies that want to relocate to Jeju settle in and at boosting investment by using the bank’s financial infrastructure. The two sides said they will work together to identify strong companies, share information and strengthen regional economic competitiveness. Hana Bank said it will provide relocating companies with temporary office space, business consultations and investor briefings, and venues for workshops and seminars, free of charge. It also plans to offer company-tailored financial services and connect firms with nonfinancial support such as management, tax and investment services, along with information on policy funds, investment funds and subsidies. Jeju Province said it will pursue efforts to find and support companies moving to Jeju, run joint business consulting, link customized financial and nonfinancial services, and cooperate on networks to promote corporate attraction and investment. Hana Bank CEO Lee Ho-seong called the agreement “a first step toward our shared goal of strengthening Jeju’s economic self-reliance.” He said the bank will work with the province to identify and nurture promising companies seeking to move to Jeju and serve as a “reliable financial partner” to help them become a new growth engine for the local economy. * This article has been translated by AI. 2026-03-11 10:06:00
  • Banks Vie for Seoul’s 55 Trillion Won Treasury Account as Shinhan Defends Lead
    Banks Vie for Seoul’s 55 Trillion Won Treasury Account as Shinhan Defends Lead Seoul’s selection of a bank to manage its treasury — a pool of funds totaling 55.2493 trillion won a year — is expected to trigger intensified competition among major commercial banks. According to the financial sector on Monday, the Seoul Metropolitan Government plans to post a bid notice for the city treasury as early as next month. With the review process expected to take about a week, the final operator is likely to be chosen within April. Seoul’s total budget this year (general account plus other special accounts) is 49.3579 trillion won, and its funds total 3.7715 trillion won, bringing the annual amount managed to 55.2493 trillion won — the largest among local governments nationwide. Shinhan Bank currently manages both Seoul’s primary and secondary treasury accounts. Woori Bank handled the Seoul treasury exclusively for 104 years, from the days of the Gyeongseong-bu treasury in 1915 through 2018, before losing the role to Shinhan. The designated bank can secure large volumes of low-cost deposits and related business opportunities, drawing interest from Shinhan, Woori and KB Kookmin Bank. Shinhan is expected to fight to retain the mandate, even if it requires offering a higher contribution, after making substantial investments during its eight years running the city treasury. The bank has promoted initiatives for Seoul residents, starting with support for small merchants through the “Ttaenggyeoyo” Seoul Delivery Plus program, and continuing with the opening of the Donghaeng Store “Jeongdam,” support for alleyway shopping-district merchant groups, and backing for the Seoul Plaza ice rink. Woori, long considered strong in institutional banking, is also expected to push hard to regain the Seoul treasury role. The bank is likely to argue it can create synergies because it holds 56% of district-level treasury accounts across Seoul’s 25 districts. KB Kookmin is seen as a potential dark horse. In Seoul’s evaluation criteria, citizen convenience — including branches and automated teller machines — accounts for 18 points out of 100. By number of branches in Seoul, KB Kookmin leads with 291, ahead of Woori’s 265 and Shinhan’s 250. Shinhan, however, has the most ATMs, with 1,552, topping KB Kookmin’s 1,439. With the weighting for deposit interest rates increased this year, KB Kookmin is also expected to be able to offer the highest rates, backed by its capital strength. Separately, a close contest is also expected in July for Incheon’s treasury mandate, which totals about 15 trillion won. Shinhan manages Incheon’s primary treasury account and NH NongHyup Bank manages the secondary account. Hana Bank, which is moving its holding company headquarters to Cheongna, is also expected to enter the race. The bank has built a record of community initiatives, including support for foreign residents, backing for Inha University Hospital and Asan Cheongna Hospital, and care programs for vulnerable groups. By number of branches in Incheon, Shinhan leads with 49, followed by KB Kookmin with 45, NongHyup with 39, Woori with 35 and Hana with 31. 2026-03-09 15:30:21
  • Shinhan Financial to Develop Corporate Growth-Focused Credit Rating System
    Shinhan Financial to Develop Corporate Growth-Focused Credit Rating System Shinhan Financial Group said Monday it will push ahead with a project to develop a “corporate growth credit rating system” as it seeks to expand support for corporate finance. The group said existing corporate credit rating methods in the financial sector are largely built around stability assessments based on past performance, such as financial results, making it difficult to fully reflect the future growth potential of technology-based companies and firms in emerging industries. Shinhan said the new system will go beyond finance-centered evaluations by incorporating forward-looking competitiveness factors, including a company’s technology capabilities, business model and industry outlook. Unlike conventional approaches that focus mainly on the likelihood of default, the system will apply criteria that consider growth stage and industry characteristics for companies with high growth potential, including venture, advanced-technology and innovative firms. In addition to existing finance and transaction data, Shinhan said it will use information on a company’s growth stage along with traditional financial data and alternative data to comprehensively analyze business viability, market growth potential and technological competitiveness. A Shinhan Financial official said the project will create “a new corporate evaluation framework” to more precisely assess companies with strong technology and growth potential, adding that the group will expand “productive finance” to support innovative companies and national strategic industries based on insight into industrial and future changes.* This article has been translated by AI. 2026-03-09 13:42:00
  • KB Financial Chairman Yang Jong-hee Urges New Women Managers to Prioritize Communication in AI Era
    KB Financial Chairman Yang Jong-hee Urges New Women Managers to Prioritize Communication in AI Era Yang Jong-hee, chairman of KB Financial Group, told newly appointed women branch managers that communication and empathy matter even more in the age of artificial intelligence, calling for inclusive leadership. KB Financial said Sunday that Yang attended a group conference on March 6 for newly appointed women branch managers. He said women leaders should take pride in being recognized for ability and performance, not gender, and stressed that finance is shifting beyond product sales to a role that supports a customer’s entire life. About 100 people, including Yang and the new managers, attended. The program included a “Talk with Seniors” session in which senior women executives answered questions and shared advice, followed by a “Talk with the Group CEO” session where Yang spoke directly with the new managers and heard feedback from the field. The event was held ahead of International Women’s Day. KB Financial said it is working to build a culture where women can develop their potential under its diversity strategy, “KB Diversity 2027.” A KB Financial official said the group is expanding its pipeline of women leaders and practicing diversity and inclusion across the organization, adding it will continue to support women’s growth and promote gender equality so employees from varied backgrounds can develop together. 2026-03-08 10:18:00
  • Shinhan Bank Hires Big Tech AI Talent to Speed Digital Transformation
    Shinhan Bank Hires Big Tech AI Talent to Speed Digital Transformation Shinhan Bank is expanding recruitment of outside talent in artificial intelligence and digital transformation, known internally as AX, as it seeks to strengthen its AI capabilities. The bank has been bringing in engineers and executives with backgrounds at major technology companies including Samsung Electronics and SK. On March 5, the financial industry said Shinhan Bank this month appointed Choi Cheol as head of its AX Digital division. Choi previously led the SK AIX Convergence Group and the SK C&C Convergence Group. Shinhan Bank is said to have valued his expertise in areas including blockchain-based Web3, AI and the Internet of Things. The AX Innovation Unit where Choi works was created in the second half of last year and sits under the AX Innovation Group. Choi is expected to help lead companywide digital transformation strategy with AX Innovation Group head Choi Hyeok-jae. Choi is not the only outside hire as the bank moves away from a tradition of promoting from within. Last year, Shin Young-pil, who previously worked at Samsung Electronics and NCSoft, was named head of the Tech Innovation Unit. In 2024, Lee Guk-hee, with experience at Amazon, Microsoft and KT Cloud, was hired as head of the Tech Innovation Team. Other Samsung Electronics alumni who have joined include Jin Young-gyu, head of the Customer Experience Innovation Center; Jeon Seong-ik, head of the Customer Platform division; and Kim Jun-hwan, a team leader at Shinhan Financial. The hiring push is focused on strengthening competitiveness in the AX area as AI competition intensifies and banks race to secure capabilities in a fast-changing digital environment. Shinhan Financial has said it aims to deliver hyper-personalized financial services through AI. In his New Year’s address, Chairman Jin said the industry is at a major turning point as technologies such as digital assets, Web3 wallets and agent AI expand, and he called for faster adoption of AI. The group is actively introducing AI agents in customer management, wealth management, internal controls and credit screening. Departments are also developing their own AI agents for task-specific use, and the bank is testing what it calls the country’s first AI unmanned branch, the “Shinhan AI Branch.” Monthly active users of its financial platform rose from 21.3 million in 2023 to 24.67 million in the third quarter of last year, reflecting growth in non-face-to-face usage. Industry officials say the bank has limits in building enough in-house specialists who can also meet regulatory requirements such as internal controls, prompting it to look outside. As digital transformation accelerates, banks are increasingly competing to recruit technology talent from big tech, analysts say. A financial industry official said, “Beyond existing technology, there are still many areas we must pay closer attention to, including anti-money laundering (AML),” adding, “Digital assets are seen as a test case for judging the success or failure of financial companies’ recruitment of outside digital talent.” 2026-03-05 15:51:00
  • Hana Financial Partners With Crypto.com on Won Stablecoin Use in South Korea
    Hana Financial Partners With Crypto.com on Won Stablecoin Use in South Korea Hana Financial Group said it is building an early partnership around a won-denominated stablecoin and expanding cooperation with global digital-asset firms as it seeks to lead the digital-asset ecosystem. The group said Hana Card is working with an affiliate of Circle, the issuer of the global stablecoin USDC, and with global digital-asset operator Crypto.com to promote payment marketing in South Korea, drawing on the group’s global network. Hana Card will run a cashback event for foreign customers who hold a Crypto.com Visa card and either hold USDC or have a record of topping up USDC. When they pay at participating merchants in South Korea, Hana Card will return 5% of the purchase amount in Crypto.com’s native token, Cronos (CRO). Hana Financial said the effort is aimed at giving foreign customers experience with digital-asset payments and identifying new payment demand centered on major domestic merchants. A Hana Financial official said, “This project is a process of confirming the potential use of stablecoin-based payments and broadening the scope of cooperation with global digital-asset operators.” The official added, “Hana Financial Group will continue to pursue various use cases that consider the entire process from distribution to use after stablecoins are institutionalized.” Separately, Hana Financial said it is also expanding ties with global digital-asset firms, including preparing licensing for digital-asset custody services at BitGo Korea, a joint venture it established with BitGo, a global digital-asset custodian listed on the New York Stock Exchange.* This article has been translated by AI. 2026-03-05 08:42:12
  • Korea Eximbank, KHNP sign nuclear power cooperation MOU with Philippines’ Meralco
    Korea Eximbank, KHNP sign nuclear power cooperation MOU with Philippines’ Meralco The Export-Import Bank of Korea said it has moved to strengthen financing support for South Korean companies seeking nuclear power plant contracts overseas. Korea Eximbank and Korea Hydro & Nuclear Power said they signed a three-party memorandum of understanding with Meralco, the Philippines’ largest private power company, in Manila to cooperate on developing nuclear power projects in the Philippines. The signing ceremony was attended by Industry Minister Kim Jung-kwan and Philippine Trade and Industry Secretary Maria Roque. Korea Eximbank President Hwang Ki-yeon, KHNP acting CEO Jeon Dae-uk and Meralco Chairman Manuel Pangilinan signed the agreement. The MOU was arranged following President Lee Jae-myung’s state visit to the Philippines, with the aim of supporting the local market entry of “K-nuclear” from the financing side. Under the agreement, Korea Eximbank will review possible financing for nuclear projects pursued by Meralco, offer tailored financing packages when South Korean companies participate, and support efforts to build a nuclear industry ecosystem combining KHNP’s technology with Meralco’s local network. Pangilinan said South Korean companies’ proven technology and Korea Eximbank’s financial support would be “meaningful progress” for strengthening the Philippines’ energy security and economic growth. Hwang said the MOU marks a starting point for expanding Korea Eximbank’s financing expertise into nuclear projects in the Philippines, adding that the bank will step up support so the market can become a new growth opportunity for South Korean companies. 2026-03-04 15:54:00
  • Shinhan Bank Launches Web-Based Shinhan eFX Platform for Corporate FX Trading
    Shinhan Bank Launches Web-Based 'Shinhan eFX' Platform for Corporate FX Trading Shinhan Bank said Tuesday it has revamped its non-face-to-face foreign exchange trading platform for corporate clients, "Shinhan eFX," into a web-based service. Shinhan eFX is a specialized FX platform that lets corporate customers check real-time exchange rates online and execute trades. It offers transactions commonly used in corporate FX operations, including immediate settlement, spot FX, forward FX, market average rate (MAR) trades and FX swaps. The key change is that eFX, previously offered as an add-on within the bank’s corporate internet banking, has been converted into a standalone platform. Shinhan Bank said it upgraded functions so orders can be executed immediately using real-time quote collection and an automated pricing engine, and it fully introduced "netting settlement" and "forward maturity management" features. Netting settlement combines or offsets multiple transactions in the same currency and settlement account so only the net difference is paid, improving cash-management efficiency and reducing unnecessary settlement funding burdens. A Shinhan Bank official said the service has moved beyond an add-on to become a dedicated FX platform, adding that the bank will "raise corporate customers’ FX risk management to the next level" through differentiated features such as real-time trading, forward maturity management and integrated support for netting settlement.* This article has been translated by AI. 2026-03-04 09:04:05
  • Shinhan Financial Nominates Park Jong-bok and Professor Lim Seung-yeon as Outside Directors
    Shinhan Financial Nominates Park Jong-bok and Professor Lim Seung-yeon as Outside Directors Shinhan Financial Group has nominated Park Jong-bok, former CEO of SC First Bank, and Lim Seung-yeon, a professor at Kookmin University, as new outside directors. Shinhan’s board on Tuesday approved the nominations at a meeting of its Outside Director and Audit Committee Candidate Recommendation Committee. Park, a former deputy head of retail banking at SC First Bank, was recommended as a financial expert. Shinhan said he led growth and improved profitability during more than a decade as SC First Bank CEO and successfully pushed new businesses including digital initiatives. It said his retail experience would support consumer-focused management. Shinhan also said Park’s governance experience at a global financial group would allow him to provide practical advice aligned with global standards. It added that, alongside director Choi Young-kwon’s capital-markets expertise, Park’s appointment would help the board offer balanced guidance spanning banking and capital markets. Lim is a U.S. certified public accountant and has served as dean of Kookmin University’s business school. If Lim is approved and directors Kim Jo-seol, Song Seong-ju and Jeon Myo-sang are all reappointed at the shareholders meeting, Shinhan is expected to maintain four female outside directors. Shinhan described Lim as a candidate with academic achievements in accounting and a deep understanding of governance through experience as an outside director and audit committee member at other companies. It said it nominated a female accounting expert to maintain expertise and diversity after the term of Yoon Jae-won, a finance and accounting specialist, expires. Shinhan said it expects Lim to advise on internal controls and play an oversight role as the board’s responsibilities for internal control and auditing grow. The board also recommended the reappointment of five outside directors whose terms expire in March: Kwak Soo-geun (emeritus professor at Seoul National University’s business school), Kim Jo-seol (professor at Osaka University of Commerce), Bae Hoon (attorney at Orbis law firm), Song Seong-ju (professor of statistics at Korea University) and Choi Young-kwon (former CEO of Woori Asset Management). It recommended Kwak and Lim as outside directors who would serve as audit committee members, and nominated Bae and Choi as audit committee candidates, reflecting revisions to the Commercial Act. The nominees will be finalized after approval at this month’s annual shareholders meeting. Separately, Yoon Jae-won, whose term ends under regulations, and Lee Yong-guk, who has said he intends to resign, are expected to step down after this month’s annual shareholders meeting.* This article has been translated by AI. 2026-03-03 18:12:00