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SC Bank Korea offers special rate for new customers

Standard Chartered Bank Korea said Tuesday it will offer special interest rates of up to 3.5 percent for as long as 60 days to first-time SC customers who deposit 30 million won ($21,800) or more, up to 2 billion won, in money market deposit accounts. Money market deposit accounts pay interest based on the daily account balance. The bigger the deposit, the higher the interest. The promotional rate is offered to first...

South-korea , Korea , Sc-bank-korea , Standard-chartered-bank-korea , Bae-soon-chang , The-korea-herald , Orean-news , Oreaherald , Outh-korea-news , Outh-korea-news-in-english , Sia-news

SC Bank Korea offers special rate for new customers

Standard Chartered Bank Korea said Tuesday it will offer special interest rates of up to 3.5 percent for as long as 60 days to first-time SC customers who deposit 30 million won ($21,800) or more, up to 2 billion won, in money market deposit accounts. Money market deposit accounts pay interest based on the daily account balance. The bigger the deposit, the higher the interest. The promotional rate is offered to first...

South-korea , Korea , Sc-bank-korea , Standard-chartered-bank-korea , Bae-soon-chang , The-korea-herald , Orean-news , Oreaherald , Outh-korea-news , Outh-korea-news-in-english , Sia-news

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

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

Former KIC chief to lead Chong Kun Dang Holdings until 2027

Choi Hee-nam has taken on his new role as the CEO of Chong Kun Dang Holdings, as his appointment was confirmed at the shareholders' meeting and the board of directors of the pharmaceutical company at the end of last month.

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Major banks prepare for dispute mediation over Hang Seng-tied ELS losses

Major banks have initiated measures to ensure smooth resolutions to compensate investors who suffered substantial losses from Hong Kong-tied equity-linked securities (ELS), following the lenders' acceptance of dispute resolution guidelines set by financial authorities.

South-korea , Seoul , Soult-ukpyolsi , Korea , Hana-bank , Standard-chartered-bank-korea , Shinhan-bank , Financial-supervisory-service , Hang-seng-china-enterprises-index , Woori-bank , Nh-nonghyup-bank

Banks rush to cough up misselling compensation

Korea's top lenders have all decided to accept the compensation guidelines suggested by the country's financial watchdog, agreeing to make up for the losses from the misselling of equity-linked securities tied to a Hong Kong index, with KB Kookmin Bank and Shinhan Bank joining the list Friday. Following company board meetings held earlier in the day, KB Kookmin Bank and Shinhan Bank announced they would car...

South-korea , Hong-kong , Korea , Lee-bok-hyun , Kb-kookmin-bank , Nh-nonghyup-bank , Woori-bank , Shinhan-bank , Korea-investors-service , Hong-kong-hang-seng-china-enterprises-index , Standard-chartered-bank-korea

Watchdog Says Bankers Misrepresented Risky China-Linked Notes to Korean Retirees

(Bloomberg) -- South Korea’s financial watchdog said it found a range of instances where some of the country’s largest brokers misrepresented risky China-linked structured products to retail investors, many of whom are retirees.Most Read from BloombergThese Are the Best Countries for Wealthy ExpatsOne of the Most Infamous Trades on Wall Street Is Roaring BackSlow US Inflation Retreat Is Set to Bolster Fed Patience on Rate CutsBond Investors Are Lining Up to Fund the War Against PutinAn investiga

South-korea , China , Korea , Bloomberg-businessweek , Choi-chunguk , Korea-investment-securities-co , Nh-investment-securities-co , Shinhan-bank , Samsung-securities-co , Kookmin-bank , Kb-securities-co , Shinhan-securities-co

South Korean bankers misrepresented risky China-linked notes to retirees, financial watchdog says

South Korean bankers misrepresented risky China-linked notes to retirees, financial watchdog says
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China , South-korea , Korea , Choi-chunguk , Hana-bank , Standard-chartered-bank-korea , Kookmin-bank , Nonghyup-bank , Shinhan-bank , Korea-investment , Mirae-asset-securities , Hana-securities

Trump victory likely to frustrate BOK rate cut prospects: report

The possible reelection of former U.S. President Donald Trump would leave the baseline rate cut profile of the Bank of Korea (BOK) unstable due largely to heightened economic, trade and foreign exchange uncertainties, a report said Thursday.

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