Search results for PACT
Finance
Fintech hot issue: Financial markets sway on high oil prices and weak won; refinancing loan war breaks out
Financial market jitters in South Korea are growing as the Middle East war drags on, pushing oil prices higher and strengthening the dollar. The won has risen above 1,500 per dollar, near the highest level in about 17 years, while foreign outflows add to volatility in the KOSPI. Separately, banks, internet-only lenders and fintech platforms are intensifying competition for sole proprietor refinancing loans as infrastructure opens up.
Finance
Shinhan Bank joins plastic reduction initiative PACT
Shinhan Bank said on Tuesday it joined PACT (Plastic ACTion), a global plastic reduction initiative led by the World Wide Fund for Nature, becoming the first bank in South Korea to do so. The bank said it plans to expand cooperation with WWF and promote activities to reduce plastic use. It also plans to support related companies through its core financial business and expand green and transition finance to contribute to a shift to a circular economy.
Games & Commerce
Kakao union condemns sale of Daum operator AXZ, cites breach of pact
Kakao’s union has strongly opposed the company’s push to sell AXZ, the in-house independent company operating the Daum portal service. The union said Kakao’s unilateral decision to proceed with the sale violates a labour-management coexistence pact signed during the spinoff. It demanded disclosure of the sale’s background and plans and called for immediate consultations. The union also urged clear guarantees of employment succession and working conditions for AXZ union members.
