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Finance

Shinhan Financial launches Jeonbuk Innovation City financial hub

Shinhan Financial Group on Feb. 24 launched Shinhan Financial Hub Jeonbuk Innovation City at Shinhan Fund Partners’ Jeonju NPS headquarters in Jeonju, North Jeolla province. It said the initiative will bring key capital market and asset management functions to Jeonbuk to speed cooperation with the National Pension Service. Shinhan Asset Management opened an office in Jeonju and is hiring interns locally. Shinhan plans to raise local staffing from about 130 to about 300.

Finance

High-dividend firms finalise value-up plan disclosure rules, disclose day after dividend resolution

High-dividend companies will be required to file a corporate value enhancement plan by the day after a regular shareholders' meeting resolves profit dividends. The Financial Services Commission said on Feb. 24 that a revised enforcement decree to the Restriction of Special Taxation Act was approved at a cabinet meeting. The decree specifies disclosure methods for firms eligible for dividend-income tax benefits, allows simplified disclosures this year, and includes support and guidelines from the Korea Exchange.