Shinhan, Hana, Woori and KB all reported an on-year drop in earnings for the first quarter, driven largely by compensation reserves for Hong Kong-tied derivative products.
KB Financial Group reported net profit of $764.5 million, a 30.5 percent drop for the first quarter, due largely to the payout of compensation for losses from Hong Kong-tied ELS.
A series of embezzlement and breach of trust cases among several banks has sparked concern about the financial sector's internal control capabilities.
Asan Woori Bank Woori Won beat the Cheongju KB Stars 78-72 in the fourth game of the 2023-24 WKBL Championship series on Saturday, winning the best-of-five 3-1 and claiming their 13th championship title.
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.
Korea JoongAng Daily Sitemap