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Finance

NongHyup to spend 30 billion won on emergency tax-free fuel and gas station discounts

NongHyup said on Sunday it would urgently deploy 30 billion won of its own funds to reduce fuel-cost burdens for farmers and the public amid a sharp rise in global oil prices. It will spend 25 billion won over the next month to support discounts on tax-free fuel, covering 50 percent of the average March consumption over the past three years. NH Nonghyup Bank will fund 5 billion won for gas station discounts, offering 200 won per litre cash back for qualifying card payments.

Finance

Woori Bank, LG Uplus provide voice phishing prevention training for foreign students

Woori Bank partnered with LG Uplus to hold a special training session for foreign students staying in South Korea to help prevent voice phishing scams. The March 5 programme was designed to proactively respond to rising financial fraud targeting foreigners. To address language barriers, the lecture was delivered in Chinese. Woori Bank explained fraud prevention know-how and impersonation tactics, while LG Uplus introduced telecom conditions used in scams and recent blocking cases.

Finance

Hana Bank to jointly develop offshore wind projects with Korea Southern Power

Hana Bank said on March 8 it signed an agreement on March 6 with Korea Southern Power to jointly develop offshore wind power projects and accelerate what it called productive finance for a shift to renewable energy. The two will build a full-cycle cooperation framework covering development, construction and operations across renewables. Hana Bank expects the partnership to link its infrastructure-focused investment banking capabilities with Korea Southern Power’s offshore wind experience.