Major banks have initiated measures to ensure smooth resolutions to compensate investors who suffered substantial losses from Hong Kong-tied equity-linked securities (ELS), following the lenders acceptance of dispute resolution guidelines set by financial authorities.
Local commercial and state-run lenders are rushing to establish offices in Poland and Hungary, buoyed by rapid growth of integrated economic activities between Korean businesses and their Central Europe peers, market watchers said Sunday.
Korea's top lenders have all decided to accept the compensation guidelines suggested by the country's financial watchdog, agreeing to make up for the losses from the misselling of equity-linked securities tied to a Hong Kong index, with KB Kookmin Bank and Shinhan Bank joining the list Friday. Following company board meetings held earlier in the day, KB Kookmin Bank and Shinhan Bank announced they would car.
The credit card arms of financial groups are seizing the opportunity presented by the overseas travel boom to attract more customers, whose spending outside the country has been increasing for the fourth consecutive year up to 2023.
South Korean banks are poised to bolster their presence in Poland, anticipating a surge in demand for financial assistance as the two nations deepen their strategic alliances and economic ties. On Tuesday, KB Kookmin Bank, one of the country's leading lenders, announced a partnership with Poland's Bank Pekao to establish a "Korea Desk." According to Kookmin Bank, the signing ceremony for the deal .