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Chairman Shin Yong-kil of the Korea Life Insurance Association (KLIA). The deferral of the effective date of IFRS 17 Insurance Contracts an additional year, to Jan. 1, 2023, has given insurance companies a sigh of relief. They now have another opportunity to accumulate additional capital, which will…
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Chairman Cho Yong-byoung of Shinhan Financial Group speaks at a general shareholders’ meeting at the group headquarters in Sejongdae-ro, Seoul, on March 26. Chairman Cho was reelected as chairman of the group. (Photos: Shinhan Financial Group) Chairman Cho Yong-byoung of Shinhan Financial Group has…
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President Moon Sung-yu of Korea Asset Management Corp. (KAMCO) and trade union head Kim Seung-tae participate in an event to join forces in overcoming a crisis, caused by the spread of COVID-19 on March 9. (Photos: KAMCO)Korea Asset Management Corp. (KAMCO) has played the part of economic safety net…
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President Wi Seong-bak of Korea Deposit Insurance Corporation (KDIC) and IBK President Yoon Jong-won pose after they signed an MOU at IBK headquarters in Seoul on Feb. 28. (Photo: KDIC)The relentless spread of the novel coronavirus is expected to put increasing pressure on debtors who are carrying o…
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KODIT Chairman Yoon Dae-hee listens to the voices of the management and employees at Kiseung Industrial Co., a car parts manufacturer in Daegu on April 9. (Photo: KODIT)The Korea Credit Guarantee Fund (KODIT) announced on April 13 that it was actively expanding guarantee-based support for small and …
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The Export-Import Bank of Korea holds a meeting presided over by Bang Moon-kyu (before the monitor at the center), chairman-president of the state-run Export-Import Bank of Korea in order to help Korean companies suffering from the spread of the COVID-19 virus with emergency financial support throug…
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An view of KDB headquarters in Yeouido, Seoul. (Photo: KDB)The Korea Development Bank (KDB) will buy 1.9 trillion won worth of corporate bonds in order to keep the Korean financial market stable in April. Corporate bonds of grade A or higher worth up to 200 billion won per company will be purchased …
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President Yoon Jong-won of the Industrial Bank of Korea (IBK) talks with the head of a small business struggling to cope with the damages, caused by the spread of COVID-19 on March 17. President Yoon Jong-won of the Industrial Bank of Korea (IBK) said, “The collapse of SMEs will have a greater impa…
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Shinhan Bank President Jin Ok-dong. (Photos: Shinhan Bank)Shinhan Bank President Jin Ok-dong stressed the importance of bold decision-making to challenge old methods that have been verified, saying established business plans need to be continuously reviewed and reevaluated. President Jin made the re…
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Chairman Yoon Jong-kyoo of KB Financial Group. (Photo: KB Financial Group)KB Financial Group will acquire Prudential Life Insurance’s Korean unit. The financial group held a board of directors’ meeting on April 10 and approved its acquisition. KB Financial Group struck a sales and purchase agreeme…
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GS Caltex CEO Hur Sae-hong. (Photos: GS Caltex)GS Caltex released its 2025 Sustainability Report, containing the company’s achievements in the ESG sector during 2025. The latest sustainability report is the 21st that GS Caltex has published sin…
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Dignitaries, including Minister Kim Sung-hwan of the Ministry of Climate, Energy and Environment (MCEE), Mayor Min Hyung-bae of Gwangju-Jeonnam Integrated Special Metropolitan City, President Lee Young-jo Korea Midland Power Co. (KOMIPO) pose at a gr…
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President Lee Jung-bok of Korea Western Power (KOWEPO) and other KOWEPO managers, such as department heads or higher, participate in “One Heart Workshop,” which took place at Benikia Hotel in Seosan, Chungcheongnam-do, from July 10 to 11. (Photo: K…
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President Kang Yong-seok of Korea Marine Environment Management Corp. (KOEM)Korea Marine Environment Management Corp. (KOEM) has converted a three-decade-plus old-plus ship into an eco-friendly, hybrid one designed to support safe port travel to redu…
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