The financial regulator said Wednesday that it has decided not to give preliminary approvals of new internet-only banks to four applicants due to their weak capital base.
The number of bank branches fell for the sixth year in a row in 2024 amid the popularity of mobile and online banking services, data showed Wednesday.
Korean banks ran a total of 5,849 branches at home and abroad as of the end of September, down 53 percent from a year earlier as the trend continued for a sixth straight year.
A woman in her 30s tried to purchase running shoes worth 300,000 won ($220) on a secondhand marketplace, only to be scammed and harassed by the scammer as well.
A mobile app service that allows users to use QR codes as identification for ATM use was launched by the Korea Financial Telecommunications & Clearings Institute, the Committee on Financial Informatization Promotion and 17 domestic banks
Pressure mounts on the banking sector to lower loan interest rates for small businesses after President Yoon Suk Yeol's remark about them being "slaves" to banks.
Simply put, a global financial crisis like the one triggered by Lehman Brothers in 2008 will not occur in China.
Shinhan Bank announced Monday that it implemented the government's residence card verification system at its branches the same day and will do so for its online banking channels, such as the Shinhan SOL application in October.
Jeonbuk Bank, Hana Bank and Toss Bank will use the Justice Ministry's residence card verification system starting Monday to verify foreigners' identity for online banking tasks.
Hana Bank is teaming up with Poland-based Gospodarstwa Krajowego (BGK) to expand its global investment banking activities.
Korea JoongAng Daily Sitemap
