Tensions are mounting in the financial industry amid speculation that the National Assembly may summon the chairmen of financial holding groups during the upcoming national audit. This year, the industry has faced criticism over its lack of internal controls ― which have led to significant cases of embezzlement by employees ― unfair trading and a surge in household debts.
Thirty out of 74 major financial firms in Korea, each with assets exceeding 2 trillion won ($1.4 billion), do not have a single female member on their board, data showed Tuesday.
The government s plan to increase the number of commercial banks operating nationwide faces a setback amid a slew of financial irregularities in the banking industry. According to media reports, the Financial Supervisory Service (FSS) extended its inspection of DGB Daegu Bank, which was scheduled to end on Sept. 1.
DGB Financial Group, a Korean financial holding company, said it plans to establish an asset management company in Singapore. The company recently submitted an application to the Monetary Authority of Singapore seeking a license to operate as a registered fund management company. "Our primary focus for now is securing the approval as Singapore financial authorities have tightened their approval processes due to .
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