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Finance

Hana Bank launches non-face-to-face small loans for public pension recipients

Hana Bank has launched a mobile-only small credit loan for customers receiving public pensions, allowing applications and disbursement through its app without visiting a branch. The product targets recipients of four major public pensions and expands an in-person offering to non-face-to-face channels. It carries a fixed annual interest rate of 1.0 percent and provides a single credit limit of 500,000 won for customers who receive public pensions at Hana Bank.

Finance

KOSPI enters pause as financial sector faces pressure for inclusive finance

South Korea’s stock market has surged on an AI semiconductor rally, pushing the KOSPI above 8,000 for the first time and lifting market value to sixth in the world, ahead of Taiwan. Brokerages posted strong first-quarter results as trading rose. Caution is also growing over volatility after the sharp run-up. Separately, “inclusive finance” has emerged as a key issue as banks and financial groups face pressure to expand support for vulnerable borrowers and strengthen public responsibility.

Fintech

Woori Bank expands non-face-to-face changes to public pension payment accounts

Woori Bank is expanding its non-face-to-face service for changing public pension payment accounts to improve convenience for senior customers. The bank said on Tuesday it has expanded the “four major public pension payment account non-face-to-face change service” on WooriWON Banking. The update allows recipients of the Government Employees Pension, Military Pension and Private School Teachers’ Pension to switch their pension payment account to a Woori Bank account without visiting a branch or using phone consultations.