Kim Yon-se
안녕하세요 Kim Yon-se 기자입니다.
Articles by Kim Yon-se
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Tricaud to head HSBC KoreaFeb 5, 2013Martin Tricaud HSBC Korea said Tuesday that Martin Tricaud has been appointed to chief executive the local unit of the U.K.-based banking giant. Tricaud has worked for the global banking and market sector of the parent HSBC group. He also engaged in corporate banking and investment financing in Europe, Africa and the Middle East. A bank spokeswoman said the new CEO is scheduled to take office ... -
Hyundai Card faces sanctionFeb 4, 2013Financial regulatory officials have been in internal discussions about taking punitive measures against Hyundai Card for alleged business irregularities. Though few of Hyundai Card’s irregular practices have yet been made public, there is a high possibility that a “caution” or “warning” will be issued to the credit card issuer, according to market observers. The Financial Supervisory Service co...
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Korea decoupling from global equity marketsFeb 3, 2013Equities in the nation’s bourse are posting low profitability while major stock markets overseas have taken on a bullish trend. Korea’s “decoupling” from major countries in stocks has continued over the past four weeks, with its price-earnings ratio, measuring share profitability, recording a rather low 8.69. Hong Kong posted a P/E ratio of 16.07, followed by Taiwan with 14.52, the U.S. with 13...
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Woori Financial’s brand ranking sees big jumpFeb 3, 2013Woori Financial Group saw its 2013 brand ranking, assessed by The Banker, climb more than 300 notches from last year. Woori ranked 77th in the yearly list of the top 500 banking brands by The Banker, a London-based financial magazine, a jump from 389th in 2012. Shinhan Financial Group and KB Financial Group took the positions of 51st (57th in 2012) and 65th (76th in 2012), respectively. Hana F...
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Some favorable economic indices, but government officials cautiousJan 31, 2013Officials in the Finance Ministry and Statistics Korea have raised the possibility that the sagging economy will gradually vitalize in the coming months, citing favorable indices in the industrial sector. They took a prudent stance, however, on publicizing a positive outlook. They stressed that “as uncertainties at home and abroad still remain,” risk factors must be closely monitored to attain n...
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FSS reviews irregularities of former Shinhan Financial chiefJan 29, 2013The nation’s financial regulator is looking into the allegation that former Shinhan Financial Group chairman Ra Eung-chan had illicitly used more borrowed-name bank accounts than were revealed about two years ago. “We are reviewing documents to verify whether the allegation is true,” an official of the Financial Supervisory Service said Tuesday. But he said the FSS has yet to decide whether to ...
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New government to revitalize sale of Woori FinancialJan 28, 2013The next chief financial regulator is expected to push forward privatization of Woori Financial Group amid lawmakers’ movement to retrieve taxpayers’ money, which was injected into the group. As Kim Seok-dong, chairman of the Financial Services Commission, recently expressed his intention to resign, the incoming Park Geun-hye administration is poised to appoint his successor as the chief regulat...
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Financial groups’ profit likely to fallJan 25, 2013Four major financial groups are estimated to see their collective earnings in 2012 drop by 25 percent, or about 2.6 trillion won ($2.4 billion), from a year earlier, according to researchers’ forecast data. FnGuide, an online financial data provider, predicted Friday that the four groups ― Woori, KB, Hana and Shinhan ― will post 7.8 trillion won in their combined net profit, down from 10.4 trill...
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Pension fund to vote against Bacchus spinoffIndustryJan 24, 2013The National Pension Fund said Thursday that it will vote against Dong-A Pharmaceutical’s plan to spin off its core business unit at the coming shareholders’ meeting on Jan. 28. The pension fund, a main shareholder of the drug producer with a stake of 9.5 percent, pointed to “uncertainty” in terms of securing shareholders’ rights under the possible spinoff. Dong-A Pharmaceutical is seeking to e...
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FSS to start magnetic-strip card phase-out in FebruaryJan 23, 2013Cash cards that use magnetic strips for transactions will be partially banned at automated teller machines starting Feb. 1. Under regulatory countermeasures to minimize financial scams including forgery of credit cards or cash cards, the Financial Supervisory Service has advised consumers to replace their magnetic cards with “integrated circuit” cards over the past year. “As an initial step, ca...
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Two young Koreans to support one elderly person in 2023Jan 22, 2013Korea is expected to bear a critically heavy financial burden in caring for elderly people in the coming decades, compared with major developed countries. According to forecasts and data from the U.N. and Statistics Korea, three Koreans, engaging in “core” GDP production activities, financially support a senior person older than 64 years on average as of 2013. “The population engaging in core e...
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Seoul property market to rallyJan 22, 2013The sluggish real estate market in Seoul will bounce back this year after bottoming out in the coming months, BoA-Merrill Lynch predicted Tuesday. “Thanks to the recent reduction of housing supply and the growing feasibility of the government-led regulation easing on property transactions, there is a high possibility that the Seoul region real estate market will be vitalized in 2013,” the Korea ...
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Lotte Card investigated over consumer complaintsJan 22, 2013The Financial Supervisory Service conducted a two-month investigation into Lotte Card, as the company ranked bottom in consumer protection among five major credit card issuers. “(For an intensive probe), we dispatched inspectors to the headquarters of Lotte Card between September and October (in 2012),” an FSS official told The Korea Herald on Tuesday. In addition to the on-site investigation, ...
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Samsung Life blasted for lack of dividendsJan 21, 2013Samsung Life Insurance is facing public criticism for not paying dividends to policyholders, reversing its earlier promise for payouts from stock gains. The situation comes after the company sold dividend-oriented life insurance products to a large number of individuals, according to a bulletin board on the website of the Korea Finance Consumer Federation. Angry consumers stress that Samsung Li... -
Jeong promoted to Woori Card CEOJan 20, 2013Woori Financial Group senior executive director Jeong Hyun-jin has been appointed CEO of Woori Card, with the new firm to be launched in March, group officials said Sunday. Jeong will lead the credit card firm, which is scheduled to be spun off from the financial group’s bank unit as an independent subsidiary. Born in Uiseong, North Gyeongsang Province, in 1952, he has worked mainly for Woori B...
