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[Feature] S Korean banks Myanmar ambitions dashed by rising political unrest

[Feature] S Korean banks Myanmar ambitions dashed by rising political unrest
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Soult ukpyolsiSouth koreaUnited statesRepublic ofSouth koreanChoi jae heeLee byung sooSaemaul geumgoKorean federation of community creditKorean association in myanmarWorld bankForeign ministryUnited nationsShinhan bankKorea land housing corpFinancial supervisory service

Food delivery order via bank apps to begin next year

Food delivery order via bank apps to begin next year | FSC Chairman Eun Sung-soo (Financial Services Commission) South Korea’s top financial regulator said Wednesday it will clear regulatory hurdles in the new year to foster convergence between finance and new technologies. According to the Financial Services Commission’s key policy tasks for the financial sector in 2021, the authority will revise its financial regulatory system in July next year to allow local banks to operate nonfinancial services like food delivery via their mobile applications. “Discussions and research are underway to expand the platform business in the finance sector next year. Even before the regulatory reform takes effect next year, (the FSC) is planning to help financial companies develop platform-based innovative services by temporarily easing related regulations,” a FSC official said.

South koreaChoi jae heeFinancial services commissionதெற்கு கொரியாசோய் ஜே ஹீநிதி சேவைகள் தரகு

Sale of state shares in Woori Financial this year foundered

Pandemic sinks FSC plan for 2020 Woori stake sale | A logo of Woori Financial Group (Woori Financial Group) A plan to sell some of the government’s stake in Woori Financial Group this year foundered due to the high market volatility triggered by the COVID-19 pandemic, the financial regulator said Wednesday. Earlier this year, a sub-committee of the Financial Service Commission, which controls the sale of state-owned firms and shares, said it would start selling off Korea Deposit Insurance Corp.’s stake in the bank in the first half of 2020. The plan was to sell the entire stake in phases, with the last sale completed by 2022.

South koreaChoi jae heePublic funds oversight committeeWoori financial groupFinancial service commissionKorea deposit insurance corpKorea deposit insuranceதெற்கு கொரியாசோய் ஜே ஹீபொது நிதி ஓவர்‌ஸைட் குழுவூரி நிதி குழுநிதி சேவை தரகுகொரியா வைப்பு காப்பீடு கார்ப்கொரியா வைப்பு காப்பீடு

Korea s financial market faces risks over surging debts, virus resurgence: BOK

Korea s financial market faces risks over surging debts, virus resurgence: BOK
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South koreaChoi jae heeதெற்கு கொரியாசோய் ஜே ஹீ

NH Financial nominates banking unit CEO as new chairman

NH Financial nominates banking unit CEO as new chairman | Son Byung-hwan, the incumbent NH Bank CEO and NH Financial Group CEO nominee (NH Financial) NongHyup Financial Group has nominated Son Byung-hwan, CEO of its banking unit as the sole candidate for group chairman, officials said Tuesday. If the nomination is approved at a shareholders’ meeting slated for the end of month, Son is set to take the top post, which has been left vacant since late last month. Former Chairman Kim Kwang-soo resigned to serve as the new chief of the Korea Federation of Banks. Son was nominated for his expertise in digital finance as well as his leadership of the bank, which has been seeking new growth synergy between the group and agricultural communities.

Soult ukpyolsiSouth koreaChoi jae heeKim kwang sooNational agricultural cooperative federationSeoul national universityNonghyup financial groupKorea federation of banksSon byung hwanChairman kim kwang sooKorea federationSeoul nationalதெற்கு கொரியாசோய் ஜே ஹீகிம் குவாங் சூசியோல் தேசிய பல்கலைக்கழகம்