Finance

Woori beats Hana in Q1 profits During the first quarter of this year, Woori Financial Group netted 568.6 billion won ($488 million) in profits to surpass Hana Financial Group, which saw its bottom line shrink 17 percent to 556 billion...

National output goes down 0.3% in first quarter The Korean economy contracted in the first quarter, marking its worst performance since the global financial crisis in the late 2000s, according to Bank of Korea on April 25. To surprise market watchers,...

ABL Life, a life insurance company affiliated with China’s Anbang Group, announced on April 4 that it appointed Zheqiang Xie, the current chair of the board of directors, as its new chief executive. The new chief will begin his term from...

Korea Inc. suffers weak exports and domestic demand The Korea economy can hardly see the light at the end of the tunnel due to the double whammy of weak exports and domestic demand, which show no signs of recovery this...

ABL Life Insurance plans to introduce an innovative whole life insurance product with no surrender values next month. Instead, it enables policyholders to pay less in premiums compared to existing products. The Seoul-based company said on March 27 that it...

Asset management firm goes global in full swing Mirae Asset Global Investments began a full-fledged foray into the international market last year by acquiring Global X, setting up a joint venture in Vietnam and acquiring a license to run a...

Deloitte keeps struggling Korea’s accounting industry has not seen big changes in the rankings of the four biggest players over the past few years. Samil PricewaterhouseCoopers has been the runaway leader, while Samjong KPMG and Deloitte Anjin have competed for the...

“Korea doesn’t want foreigners to invest” World-famous investor Jim Rogers lashed out at the Korean stock exchange system, which he said is complicated and very difficult to use. He even said that “investing in South Korea’s stocks is a real...

NongHyup Bank, also known as NH Bank, would be inspected by the New York State Department of Financial Services (DFS) with regard to a possible breach of anti-money laundering (AML) laws. A source familiar with the issue said on March...

In Korea’s robo-adviser market, Quarterback Investments has reigned for the past few years. However, Fount Investment appears to have dethroned the perennial champion last year. According to the Korea Financial Investment Association on March 13, Fount managed funds amounting to...