Prioritizing customer-centric digital finance innovation

Morphing into a customer-centered financial platform company through open digital innovation, fostering digital talent and strengthening technological capabilities is one of the key strategies Hana Financial Group pushes forward. Based on big data, the banking group is developing products and services tailored to customer groups while converting offline branches into financial platforms where customers can satisfy their needs through human touch. The digital channel plays the role of an all-in-o

May 2, 2023

Seoul shares up for 3rd day ahead of Fed meeting

South Korean stocks closed higher Tuesday to extend their winning streak to a third day ahead of the US Federal Reserve's policy meeting later this week. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index gained 22.86 points, or 0.91 percent, to finish at 2,524.39. Trading volume was moderate at 691.3 million shares worth 9.79 trillion won ($7.3 billion), with gainers outnumbering decliners 638 to 248. Foreigners bought a net 341.8 billion won of

May 2, 2023

Hana Financial eyes M&As in bid to become global finance giant

Hana Financial Group plans to step up its globalization efforts to become a globally leading finance firm with customized strategies suited to each market with its business spanning from banking to securities brokerage services. As of the end of 2022, Hana Financial Group had expanded across 25 countries, with more than 4,500 employees overseas. According to the group, its global profit has been increasing every year by an average of 15 percent over the past four years. In 2022, the group&rs

May 2, 2023

Seoul shares open higher ahead of Fed meeting

South Korean stocks opened higher Tuesday, as investors await to see a widely expected interest rate hike by the US Federal Reserve in the policy meeting later this week. The benchmark Korea Composite Stock Price Index rose 17.57 points, or 0.7 percent, to trade at 2,519.10 in the first 15 minutes of trading. The Fed is expected to raise the interest rate by another 0.25 percentage point at the end of the Federal Open Market Committee on Wednesday in what will be the latest move in its aggressiv

May 2, 2023

Probe in full swing into W8tr stock market wipeout

The authorities are scrambling to respond to what could be one of the largest stock price manipulation cases in recent years. The authorities, including the Financial Supervisory Services, are investigating deals involving the stocks of eight companies, the combined market capitalization of which fell around 8 trillion won this week. The shares of the companies -- Samchully, Daesung Holdings, Seoul Gas, Sebang, Sun Kwang and Daou Data – began dropping abruptly earlier this week without a

April 28, 2023

Seoul shares rise for 2nd day on chips, platform gains

South Korean stocks ended higher Friday as chips and platform shares gathered ground on expectations for a better outlook despite recession woes. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index added 5.72 points, or 0.23 percent, to close at 2,501.53, extending the winning streak to a second session. Trading volume was moderate at 762.56 million shares worth 13.64 trillion won ($10.18 billion), with decliners outpacing gainers 448 to 423. The index

April 28, 2023

Seoul shares open higher on tech, auto gains

South Korean stocks opened higher Friday, tracking overnight gains on Wall Street, as major chipmakers and platform operators gathered ground on hope of a better outlook. The benchmark Korea Composite Stock Price Index added 6.72 points, or 0.27 percent, to 2,502.53 in the first 15 minutes of trading. Overnight, US shares ended higher as Meta Platforms' upbeat quarterly earnings report boosted tech shares. The Dow Jones Industrial Average rose 1.57 percent, and the tech-heavy Nasdaq Composi

April 28, 2023

Kakao Pay to acquire controlling stake in US brokerage firm Siebert

Kakao Pay Corp., the fintech unit of South Korean tech giant Kakao, said Thursday it plans to acquire a controlling stake in Siebert Financial Corp., a US brokerage firm, as part of efforts to expand its financial business abroad. Kakao Pay said in a regulatory filing it has signed a deal to purchase Siebert's new shares worth $17 million. The deal, set to be completed on May 4, will allow Kakao to secure a 19.9 percent stake in the New York-based firm. After winning approval from shareho

April 27, 2023

Seoul shares end 5-day losing run on big-cap tech gains

South Korean stocks ended higher Thursday after a five-session losing streak as investors picked up tech bargains despite concerns about the global banking sector instability and an economic recession. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index added 10.98 points, or 0.44 percent, to close at 2,495.81. Trading volume was moderate at 722.69 million shares worth 10.97 trillion won ($8.19 billion), with decliners outpacing gainers 465 to 405. Reta

April 27, 2023

Seoul shares open lower on Samsung, global banking system woes

South Korean stocks opened lower Thursday on Samsung Electronics' poor earnings and renewed concerns about the health of the global banking system. The benchmark Korea Composite Stock Price Index shed 11.7 points, or 0.47 percent, to 2,473.13 in the first 15 minutes of trading. Overnight, US shares ended mixed as concerns about the US banking sector instability overshadowed upbeat corporate business results. The Dow Jones Industrial Average lost 0.68 percent, while the tech-heavy Nasdaq Com

April 27, 2023

Seoul shares down for 5th day despite big-cap tech rebound

South Korean stocks ended slightly lower Wednesday, as investors began assessing corporate quarterly earnings amid renewed concerns over the stability of the global banking system and the Sino-US rivalry. The local currency fell to a yearly low against the US dollar. The benchmark Korea Composite Stock Price Index shed 4.19 points, or 0.17 percent, to close at 2,484.83, extending its losing streak to a fifth session. Trading volume was heavy at 1.01 billion shares worth 12.24 trillion won ($9.16

April 26, 2023

Seoul shares open nearly flat after sharp slide

South Korean stocks opened nearly flat Wednesday, as big-cap shares rebounded from recent deep losses. The benchmark Korea Composite Stock Price Index shed 1.37 points, or 0.06 percent, to 2,487.65 in the first 15 minutes of trading. Overnight, US shares fell on renewed concerns about the banking sector instability after the First Republic Bank reported a drop in deposits in the first quarter and its stock sank nearly 50 percent. The Dow Jones Industrial Average lost 1.02 percent, while the tech

April 26, 2023

Seoul shares down for 4th day ahead of earnings season

South Korean stocks ended markedly lower Tuesday, led by big-cap tech losses, as investors took to the sidelines awaiting major corporate earnings reports. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index shed 34.48 points, or 1.37 percent, to close at 2,489.02, extending its losing streak to a fourth session. Trading volume was a bit heavy at 875.67 million shares worth 13.46 trillion won ($10.1 billion), with decliners outpacing gainers 641 to 248.

April 25, 2023

Seoul shares open nearly flat ahead of earnings season

South Korean stocks opened nearly flat Tuesday, following a three-day losing streak, as investors await first-quarter corporate earnings reports. The benchmark Korea Composite Stock Price Index shed 1.64 points, or 0.06 percent, to 2,521.86 in the first 15 minutes of trading. Overnight, US shares ended mixed as big tech earnings season approaches. The Dow Jones Industrial Average rose 0.2 percent, while the tech-heavy Nasdaq Composite fell 0.29 percent. This week, South Korean chip giants Samsun

April 25, 2023

Seoul shares down for 3rd day ahead of earnings season; Korean won hits yearly low

South Korean stocks ended markedly lower Monday, led by big-cap tech losses, as investors took a pause ahead of the corporate earnings season and amid concerns about potential impacts of the Sino-US rivalry on business circumstances. The local currency fell to a yearly low against the US dollar. The benchmark Korea Composite Stock Price Index shed 20.90 points, or 0.82 percent, to close at 2,523.50, extending its losing streak to a third day. Trading volume was moderate at 914.5 million shares w

April 24, 2023

Foreign nationals to be allowed to enjoy Sportstoto online 'Betman'

Sportstoto Korea, the operator of the Korean sports betting game Sportstoto, said Monday that foreign residents can now sign up for the official online betting website of Sportstoto starting Thursday. Similar to horse race gambling, Sportstoto is a legal form of sports gambling in Korea in which participants receive sports promotion voting rights – commonly referred to as sports lottery tickets – to place their bets on match outcomes based on careful calculation and prediction. Betti

April 24, 2023

Seoul shares open lower ahead of earnings season

South Korean stocks opened lower Monday, as investors took a breather ahead of corporate earnings season. The benchmark Korea Composite Stock Price Index shed 9.91 points, or 0.39 percent, to 2,534.49 in the first 15 minutes of trading. On Friday, US shares closed marginally higher amid a lack of fresh market-moving events. The Dow Jones Industrial Average added 0.07 percent, and the tech-heavy Nasdaq Composite went up 0.11 percent. This week, major companies in South Korea, including chip giant

April 24, 2023

[KH Explains] Why does KB Bank hold on to money-losing budget phone service business?

KB Kookmin Bank recently gained a green light from the country’s financial regulator to continue its mobile telecommunications business after its four-year experiment as a regulatory sandbox program. It is the first lender in the country that has ventured into the mobile telecommunications market, dominated by three major telecommunications carriers. But a question remains: Why would the bank want to continue a business which has been in the red for years and has little relevance to its ma

April 23, 2023

Market cap of listed firms gains 16.4% in 2023

The total market capitalization of listed firms in Korea rose by 16.4 percent this year, an increase of more than 341 trillion won ($256 billion) from the year-end of 2022. As the stock market slowly rebounds, the combined market cap of Korea's benchmark index Kospi and secondary bourse Kosdaq swelled from 2,079.13 trillion won to 2,420.25 trillion won during the period, marking a 16.4 percent increase, or 341.11 trillion won, data from the country’s sole bourse operator Korea Exchang

April 23, 2023

Hana opens 1st child care center

Hana Financial Group opened its first Hana Momcare Center in Bundang, Gyeonggi Province, on Friday. The center, the first of its kind, comes with a nursing room equipped with child care products including a water purifier, bassinet, baby feeding chair, breast pumps and a changing table for babies. It also comes with other necessities such as baby wash, lotion, wet wipes and cleaning liquid for feeding bottles. Pregnant women and parents can use the center to care for their children when visit

April 23, 2023