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Finance

Saemaul Geumgo nears first direct election for chairman as mutual finance leadership reshapes

South Korea's mutual finance sector is preparing to pick new leaders as asset quality worsens and internal control controversies persist. Saemaul Geumgo will hold its first full direct election for chairman on Dec. 17, with three candidates vying for the post. The race includes allegations against the incumbent and competing reform pledges. The National Credit Union Federation of Korea also faces a leadership change, with an election set for Jan. 7 amid continued losses and rising delinquencies.

Finance

Fintech hot issue: AI services spread across finance as BNPL market expands

Financial companies including major banks are introducing a growing range of AI-based services, raising questions about whether consumers will see tangible benefits. Shinhan Bank launched an OpenAI GPT-based export document screening service, while KakaoBank and Toss Bank expanded AI offerings. The Export-Import Bank of Korea plans to invest 20 trillion won over five years to support domestic AI firms. Overseas, U.S. BNPL payments hit records during the year-end shopping season, Adobe Analytics data showed.

Finance

Korea Exchange holds meeting with firms included in Korea Value-up index

The Korea Exchange held a meeting on Dec. 15 with 10 listed companies included in the Korea Value-up index, chaired by Chairman Eunbo Jeong. The meeting followed the index setting a new record high. As of Dec. 14, 65 of the 100 index constituents had completed disclosures of corporate value enhancement plans. Jeong said net asset value for 13 related ETPs exceeded 1 trillion won by end-November and foreign trading share rose to 24.8 percent.