Korea’s post offices will start offering deposit, withdrawal, balance inquiry and ATM services of four banks - Kookmin, Shinhan, Woori and KEB Hana.
June 22, 2022Six domestic banks and five foreign banks were selected to serve as market makers of the KRW-RMB direct trading market in 2022.
January 4, 2022The FSC will adjust the evaluation criteria it uses to assess banks' tech financing performance to promote more lending to innovative SMEs.
December 1, 2021The Supreme Court ruled that 27 of Woori's employees were involved in unfair hiring practices, 19 of which still work for the bank.
October 21, 2020Prosecutors are looking to determine whether the bank purchased privately placed bonds under Optimus’ request or instruction.
October 1, 2020Shinhan Financial Group subsidiary Jeju Bank has been removed pursuant to April's temporary easing of regulations to exclude small-sized regional banks from the designation.
June 25, 2020The FSC will impose lower penalties than what was recommended by the FSS, citing the two banks’ cooperation and their agreements to compensate clients for damages.
February 17, 2020The FSS is also recommending a 20-billion-won penalty be imposed on both banks, and for some of their operations to be suspended for six months.
January 31, 2020Investors are reportedly preparing for a suit against banks which sold them loss-making funds from Lime Asset Management without properly disclosing the risks.
January 9, 2020Penalties for mis-selling are being toughened to include fines up to 30 million won and punitive fines up to 50 percent of unfair gains. New standards for professional investors also established.
November 14, 2019