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Finance
KB Kookmin Bank launches 'KB Preferential Savings for SME Employees'
KB Kookmin Bank said on Monday it launched 'KB Preferential Savings for SME Employees' to support asset-building for workers at small and medium-sized enterprises. The product follows a business agreement signed in November with the Korea SMEs and Startups Agency, after the bank was selected as a handling bank for the savings programme. The product offers a base rate of 2.5 percent, with preferential rates that can lift returns to 4.5 percent.
Finance
IBK Industrial Bank of Korea builds international cooperation network with Luxembourg
IBK Industrial Bank of Korea said on Dec. 15 it has established an international cooperation network in Luxembourg to support South Korean small and medium-sized companies and startups seeking to enter the local market. CEO Kim Sung-tae met Luxembourg financial authorities and bank officials and agreed to cooperate on helping companies from both countries expand into the European market. The bank also agreed on collaboration with Luxembourg Finance Minister Gilles Roth and signed an agreement with state-owned bank Spuerkeess.
Finance
November COFIX up 0.24 point; mortgage variable rates to rise again
South Korea’s COFIX funding cost index, used as a benchmark for banks’ floating-rate mortgage loans, rose for a third consecutive month. The Korea Federation of Banks said the November COFIX based on new loans came in at 2.81 percent, up 0.24 percentage point from October. The balance-based COFIX slipped 0.01 point to 2.83 percent. Banks are set to reflect the new rate in new mortgage loans as early as Dec. 16.
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Finance
Woori Financial to support SGI Seoul Guarantee communication culture with Thank You Token
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Finance
U.S. retail industry grows more dependent on buy now, pay later
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Finance
Banks barred from adding statutory costs to loan rates as Bank Act revision passes parliament
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Finance
U.S. buy now, pay later transactions hit record; Adobe sees 11 percent rise
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Finance
SC First Bank launches savings rate event offering up to 8.8 percent
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Finance
Gwangju Bank recommends Jeong Ilseon as sole candidate for next CEO
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Finance
KOSPI recovers 4,100 in intraday trade after AI bubble fears trigger selloff
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Finance
NH Investment Securities launches dedicated website for investment solicitation agents and retirement pension recruiters
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Finance
Shinhan Bank runs event for Sol Convenient Exchange customers
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Finance
Sh Suhyup Bank supports Busan port city school route improvement project with Korea Ocean Business Corporation
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Finance
KB Kookmin Bank expands overseas remittance service to Koreans
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Finance
Korean banks step up drive to attract foreign customers
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Telecommunications & Media
Will glasses follow smartphones? Rumours swirl around Apple Glasses
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Telecommunications & Media
SK Telecom to terminate contracts for long-suspended 3G, LTE subscribers
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Telecommunications & Media
Galaxy S26: 5 reasons to choose it over the Ultra model