Two Korean banks have compensated retail investors for their losses involving troubled Hong Kong-tied equity-linked securities (ELS) after financial authorities probe into possible illegal activities related to the sale of the high-risk notes, industry sources said Sunday.
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.
Korean banks have rolled out a financial package worth around 600 billion won ($444 million) to support small business owners and young people, with an aim to share their profits, according to the Korea Federation of Banks, an organization representing the lenders, Wednesday. The funding is a follow-up to a financing plan worth 2.1 trillion won issued in December amid regulatory pressure to share the profits. While 1.