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Finance

Four major financial groups\' Q1 results split as AI, digital finance spread

South Korea\'s financial sector has entered the first-quarter earnings season, with non-interest income and non-bank units driving diverging results among major financial holding companies. KB Financial Group, Shinhan Financial Group and Hana Financial Group posted record results, while Woori Financial Group recorded a decline. Strong stock markets lifted securities firms\' earnings, and new savings and investment products were launched. The industry is also accelerating a shift toward AI and digital finance, alongside calls for stronger controls and risk management.

Finance

Sh Suhyup Bank appoints Kim Yoon-ho as CEO of Sh Suhyup Asset Management

Sh Suhyup Bank said on April 13 it appointed Kim Yoon-ho, a former vice president at Hana Alternative Investment Management, as the new chief executive of its subsidiary Sh Suhyup Asset Management. The bank described the move as aimed at pushing a shift into a comprehensive asset manager spanning traditional assets and real estate alternative investments. It plans to strengthen expertise and expand synergies with the National Federation of Fisheries Cooperatives.

Finance

KB Kookmin Bank recommends Yeon Tae-hoon as new outside director

KB Kookmin Bank said on Thursday its outside director nomination committee recommended 1 new outside director and 3 outside directors for reappointment. The bank recommended Yeon Tae-hoon, a senior research fellow at the Korea Institute of Finance, as the final candidate for the new post with a two-year term. Yeon studied economics at Seoul National University and earned master’s and doctoral degrees at the University of Michigan, and has researched financial markets including capital markets and consumer protection.