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Finance

Toss Bank adds Kiwoom Securities issued notes to lump-sum management service; cumulative total tops 30 trillion won

Toss Bank added Kiwoom Securities’ issued notes to its asset management service “Mokdon Guligi,” it said on Thursday. The service’s cumulative linked sales recently exceeded 30 trillion won. The newly added products include a demand type and a fixed-term type with four maturities. Returns and conditions vary by product type and holding period, and the rates are subject to change with market interest rates.

Finance

Korea\'s three internet-only banks extend CEO terms, face test of growth limits

The heads of South Korea’s three internet-only banks are set to win new terms, with K Bank and Toss Bank naming sole CEO candidates and KakaoBank already reappointing its chief for a fifth term. The banks cite achievements including an IPO, profitability gains and platform expansion. They now face a tougher environment as regulators push higher lending to mid- to low-credit borrowers and as delinquency metrics run about double those of the four major banks.

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