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Finance

FSS to train consumer protection specialists with financial holding firms

South Korea\'s Financial Supervisory Service and the Korea Financial Training Institute on Thursday signed an agreement with the Korea Federation of Banks and eight financial holding companies to foster financial consumer protection specialists and strengthen capabilities. The parties will expand consumer protection training for financial company employees and work to raise awareness across the sector. New and revamped courses will target executives, prospective chief consumer officers, department heads, practitioners and branch sales staff, with stronger training on mis-selling prevention and voice phishing response.

Finance

NH Investment Securities to raise 400 billion won from Nonghyup Financial to strengthen IMA business

NH Investment Securities will launch a 400 billion won paid-in capital increase allocated to its largest shareholder, NH Nonghyup Financial Group. The move aims to strengthen capital to expand its comprehensive investment account (IMA) business, corporate finance linked to it and venture-capital investments. The firm said its net capital ratio was 159.3 percent in the first quarter. Part of the funds will also be used to expand retail credit provision limits.

Finance

NH NongHyup Financial shifts retirement pension strategy to returns

NH NongHyup Financial is shifting the focus of its retirement pension business from winning subscribers to managing returns, aiming to strengthen an integrated pension finance system. The group said it is pursuing a transition to a returns-focused retirement pension financial group responsible for customers\' actual returns and post-retirement asset management. NH NongHyup Bank and NH Investment & Securities are highlighting returns performance, while the group plans to enhance synergies linking banking, securities and insurance.