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Finance

Four major financial groups\' net profit tops 11 trillion won, competition shifts from banks to capital markets

South Korea’s four major financial holding groups posted combined first-half net profit of 11.34 trillion won, up 9.8 percent from a year earlier, helped by steady interest income and rising fee income from capital-market businesses such as securities, wealth management and investment banking. As non-bank earnings contributions expanded, the competitive focus among groups increasingly shifted to capital markets. In banking, Shinhan Bank led in net profit, while Woori Bank was the only one to decline.

Finance

Hana Financial posts 2.4029 trillion won first-half net profit, fee income up 37.7 percent

Hana Financial Group posted a first-half net profit of 2.4029 trillion won, up 4.4 percent from a year earlier, helped by higher fee income and a more diversified earnings mix. It absorbed one-off costs including provisions tied to corporate rehabilitation and foreign-exchange translation losses. Core profit rose 13 percent to 6.2956 trillion won, with fee income up 37.7 percent. Hana Bank net profit rose 1.7 percent.

AI & Enterprise

Hana Financial launches \'Cheongna era\' as 4,000 staff gather at new headquarters

Hana Financial Group is set to begin a full-scale move to its newly completed Cheongna Group Headquarters in Incheon’s Cheongna International City, starting a so-called “Cheongna era.” The group said it will begin placing about 2,200 employees from 10 affiliates from September, with total financial staff in Cheongna expected to reach about 4,000 including existing personnel. The move is the final step of its Hana Dream Town project begun in 2012.