The biggest seller of the troubled derivative products, KB Kookmin, and Shinhan announced that they would implement a voluntary compensation scheme on Friday.
The nation's four major financial firms padded their debt provisions amid concerns over project financing defaults.
KB Financial Group reported record 2023 profits, despite falling short of analysts' expectations.
The heads of Korea’s financial holding firms on Tuesday vowed to reinforce coexistence with society and push ahead with bold innovations in a joint New Year’s address, noting growing wealth inequality and a rapidly changing consumer market.
KB Kookmin Bank is launching a welfare program that will allow employees to take a three-year retirement in order to care for their children while still being eligible for their previous title and salary upon returning.
KB Financial Group’s new chairman promised to contribute more to society in his inaugural speech on Tuesday as the government pressures banks to redistribute record profits.
The new chairman of KB Financial Group plans to boost shareholder remuneration amid struggles in the domestic economy and finance sector.
Financial companies in Korea are increasingly embracing AI to improve efficiency and offer personalized services, with AI projected to reach $2.35 billion by 2026. Various firms are focusing on AI digital assistants.
KB Financial Group reported a Q3 net profit of 1.34 trillion won ($999.2 million), down 1.3 percent on-year. Operating profit, however, increased by 12.6 percent.
Outgoing KB Financial Group Chairman Yoon Jong-kyoo emphasized the company's plans to expand its business in Indonesia, aiming to offer comprehensive financial solutions and reduce bad debt.
Korea JoongAng Daily Sitemap