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Finance

U.S. buy now, pay later transactions hit record; Adobe sees 11 percent rise

Buy now, pay later services in the U.S. are growing rapidly, with record transaction volumes from the start of the year-end shopping season. Adobe Analytics put BNPL payments at $10.1 billion from Nov. 1 to Dec. 1, up 9 percent, and forecast $20.2 billion for November and December, up 11 percent. Klarna and Block reported higher usage. Regulators in seven states have sought information from six BNPL firms.

Finance

SC First Bank launches savings rate event offering up to 8.8 percent

SC First Bank said on Monday it will hold an event offering preferential interest linked to building energy use. The event applies to customers who newly sign up for its one-year Dudream savings account by Dec. 26 and can check electricity use for their current address on the Green Building Portal. Those depositing up to 1 million won a month can receive up to 5.3 percentage points in additional preferential interest at maturity, for a maximum annual pre-tax rate of 8.8 percent.

Finance

Gwangju Bank recommends Jeong Ilseon as sole candidate for next CEO

Gwangju Bank said on Dec. 15 its executive nomination committee recommended Executive Vice President Jeong Ilseon as the sole candidate for the bank’s next chief executive. Jeong joined the bank in 1995 and was promoted to deputy executive vice president in 2023 and executive vice president in 2024. Incumbent CEO Ko Byung-il was reported to have declined consideration. The bank will confirm the next CEO on Dec. 17.