Finance

Will South Korea revive push for fourth internet bank as innovation and soundness clash

Discussion on launching a fourth internet-only bank in South Korea has resurfaced. Participants broadly agree on the need for financial innovation and wider inclusive finance, but concerns remain over soundness and market saturation. Experts said the debate should focus less on whether it is needed and more on how it should be 추진ed. Financial authorities leaned toward conditional caution, saying they must verify both value creation and associated risks, including stable funding and sound management plans.

Finance

Shinhan Bank expands Sunday branches in Daegu and Busan to boost foreigners' access to finance

Shinhan Bank said on Sunday it will offer Sunday banking tailored to foreign customers at its Busan Financial Center branch in Jung-gu, Busan, and at its Seongseo branch in Dalseo-gu, Daegu. With the expansion, the bank will have four Sunday branches for foreign customers, adding to its Dongdaemun and Suwon Station branches. Services include overseas remittances, account openings and internet banking. The bank also raised the credit limit on its SOL Global Loan for foreign workers.