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Banks scale back FX services amid rampant scalping

Currency scalping refers to investors making a small profit after holding a sell or buy position for a very short time.

Woori-bank , Kb-kookmin-bank , Middle-east , Toss-bank , Korea , X , Urrency , Nvestment , Orea , Scalping , Outh-korea

KB's Q1 net profit falls 30% due to HK-tied ELS compensation

KB Financial Group's net profit for the first quarter of 2024 decreased 30.5 percent year-on-year, due to voluntary compensation paid to investors who incurred losses from equity-linked securities (ELS) tied to the Hang Seng China Enterprises Index.

Seoul , Soult-ukpyolsi , South-korea , Kb-kookmin-bank , Kb-financial-group , Shinhan-financial-group , Hang-seng-china-enterprises-index , Hang-seng-china-enterprises , Shinhan , Hk-els , Woori

Korean banks receive approval to enter mobile industry

Banks are increasingly considering entering the mobile phone service market following the financial authorities' recognition of Liiv M, KB Kookmin Bank's mobile service, as a formal ancillary business for banks.

Hana-bank , Nh-nonghyup-bank , Kb-kookmin-bank , Woori-bank , Mobile , Kb , Mvno , Nh , Woori , Orea , Outh-korea

Gravity : Consolidated Financial Statements - Form 6-K -April 12, 2024 at 06:07 am EDT

Consolidated Financial Statements

For the Years Ended December 31, 2023 and 2022

...

Indonesia , South-korea , Malaysia , Thailand , Mapo-gu , South-korea-general- , Taiwan , Shanghai , China , United-states , Seoul , Soult-ukpyolsi

Competition to become Korea's 4th online-only bank heats up

The race to receive the license to become South Korea’s fourth internet-only bank is growing fiercer, with four bidders announcing their will to contend. There are currently three online lenders in Korea: KBank, Kakao Bank and Toss Bank. But four new contenders -- Soso Bank, Korea Credit Data Bank, and the U-Bank and Douzone Bank consortiums -- have lined up to compete for the fourth license. In line with the l...

South-korea , Korea , Lee-yoon-sok , Cho-yong-byoung , Douzone-bank , While-soso-bank , Kb-kookmin-bank , Kakao-bank , Korea-credit-data-bank , Standard-chartered-bank-korea , Shinhan-bank

[KH Explains] Banks puzzled by derivatives misselling proposal

South Korean regulators’ push for banks to make up for investors’ losses incurred from equity-linked securities tied to a Hong Kong index has left both Korean and foreign banks baffled. Korea's major lenders accepted compensation guidelines suggested by financial watchdog the Financial Supervisory Service last month, agreeing to partly redress investors for the losses from the ELS products. The payba...

Hong-kong , South-korea , South-korean , Korea , Lauren-willis , Lee-hyo-seob , Lee-bok-hyun , While-shinhan-bank , Kb-kookmin-bank , Korea-capital-market-institute , Loyola-law-school-in-los-angeles , Financial-supervisory-service

FSS prepares penalty measures for HK-tied ELS sellers

The Financial Supervisory Service (FSS) plans to send out inspection reports to major sellers of equity-linked securities (ELS) products tied to the Hong Kong stock market, including five commercial banks - KB Kookmin, Hana, Shinhan, NH NongHyup Banks and Standard Chartered Bank Korea - sometime within this week.

Hong-kong , South-korea , Seoul , Soult-ukpyolsi , Korea , Lee-bok-hyun , Shinhan-bank , Standard-chartered-bank-korea , Futures-commission , Financial-services-commission , Hana-bank

KB donates 100 mil. won to Autism Society of Korea

KB donates 100 mil. won to Autism Society of Korea

Seoul , Soult-ukpyolsi , South-korea , Korea , Kim-yong-jik , Lee-jae-keun , Kb-kookmin-bank , Autism-society-of-korea , United-nations , Autism-society , Korea-president-kim-yong-jik

Financial holdings groups' Q1 earnings hit by HK-tied ELS compensations

Major financial groups' plans to offer voluntary compensations over Hong Kong-tied equity-linked securities (ELS) are expected to impact their performance in the first quarter of this year, according to industry sources.

Seoul , Soult-ukpyolsi , South-korea , Korea , Kim-kyung-keun , Kim-joo-hyun , Choi-jung-wook , Hang-seng-china-enterprises-index , Kb-financial-group , Woori-bank , Financial-services-commission

More women break glass ceiling on financial group boards

South Korean financial groups have undergone a transition in their board composition, indicating governance changes centering on gender diversity and internal control. Given that a financial holding company’s board is the ultimate decision-making body engaging in establishing management strategies and budget planning for itself and its affiliated banking and securities units, the changes give a glimpse of the f...

South-korea , United-states , Korea , America , South-korean , Yim-jong-yong , Lee-seung-lyul , Kang-seong-muk , Lee-jae-keun , Kwon-seon-joo , Korean-academic-society-of-taxation