Korea Joongang Daily
Korea JoongAng Daily

Banks rush out translation, forex services as Korea's foreign population hits 2.65 million

Korean banks are increasing efforts to attract the growing population of foreign residents, offering customized products and services as spending and demand rise significantly among this demographic.

2025-05-07

Korea’s big banks post record spreads amid government rate cap

While the Bank of Korea continues to lower its benchmark interest rate, the gap between commercial banks’ loan and deposit rates has grown to a record high.

2025-05-06

Korea's four major financial groups post record Q1 profits. But nobody's celebrating.

Korea's four major financial groups — KB Financial Group, Shinhan Financial Group, Hana Financial Group and Woori Financial Group — posted nearly 5 trillion won in combined net profit during the first quarter. But no champagne corks were popped.

2025-04-27

Kakao Bank to become global standard for AI-powered banking, CEO says

Kakao Bank CEO Yun Ho-young shared the company’s vision to become the global standard for AI-powered banking services while stressing the importance of creating user experiences (UX) and interfaces (UI) that utilize the technology.

2025-04-23

Producer prices see little change in March amid oil price decline: BOK

Korea's producer prices were nearly unchanged from a month earlier in March amid falling global oil prices, central bank data showed Tuesday.

2025-04-22

Rate cut for whom? Loan interest still near 4 percent despite BOK easing

Loan interest rates in Korea remain above 4 percent, despite the Bank of Korea's easing signals.

2025-04-20

NH Nonghyup Bank donates $70,000 to Myanmar earthquake relief

NH Nonghyup Bank will donate 100 million won ($70,000) to help disaster victims affected by the devastating earthquake in Myanmar in March that killed thousands and worsened a humanitarian crisis for displaced and local communities.

2025-04-15

Woori to spend $6.9 billion on loans, rate cuts for tariff-impacted businesses

Woori Financial Group will invest $6.9 billion to support export firms impacted by U.S. tariffs, focusing on semiconductors and auto.

2025-04-09

IBK integrates SK's AI-powered antiphishing technology

The Industrial Bank of Korea has partnered with SK Telecom to put to the test an AI-powered service that detects and prevents voice phishing scams, with a pilot prevent $400,000 in scam transactions.

2025-04-08

Korea's gold reserve is entirely abroad. The BOK has no intention of reshoring it.

A Bank of Korea official shot down any speculation that the central bank would reshore Korea's gold reserves from London amid discussions in Germany about retrieving its reserves in the United States.

2025-04-06