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Search results for Kyobo Life

Finance

Financial groups\' M&A race heats up again as insurers are bought in succession

Mergers and acquisitions of insurers by South Korea’s financial groups are picking up again, with Korea Investment Financial Holdings securing preferred bidder status for KDB Life and OK Financial Group proceeding with steps to buy Yebyeol General Insurance. Kyobo Life is pursuing AXA General Insurance, while Shinhan Financial Group is again being mentioned as a possible buyer for Lotte Insurance, which is preparing for sale. Groups are seeking either new entry into insurance or reinforcement of weaker segments.

Finance

Household loan cap raised to 3 percent; scraping to be phased down

South Korea’s financial authorities loosened parts of their household loan management stance by raising this year’s lending growth target to 3 percent from 1.5 percent and planning 47.8 trillion won-plus in housing supply finance support. The move is expected to expand banks’ annual capacity for household loans to around 60 trillion won. Authorities also agreed not to block scraping all at once, opting to phase it down while preparing alternatives such as public MyData.

Crypto

Won stablecoin pilots enter proof stage as industry tie-ups accelerate

Partnerships among banks, fintechs, platforms and blockchain firms around won-denominated stablecoins are accelerating in the second half, with payment and settlement use cases moving into more concrete pilot tests. Companies are running proofs of concept on real-time settlement, on-chain payment flows and links between digital wallets and existing card networks. Cross-border remittances are also emerging as a key testing area. Debate continues over regulation, including issuers, reserve assets and approval requirements.