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Finance

KB, Shinhan and Woori say productive finance risk mention due to U.S. disclosure rules

Three South Korean financial holding companies, KB Financial, Shinhan Financial and Woori Financial Group, said risk factors in their U.S. SEC annual reports related to expanding productive and inclusive finance were included to meet U.S. disclosure requirements, not to discriminate against domestic investors. They said Form 20-F filings must broadly describe potential risks and uncertainties. They also said they support the government’s policy direction and manage lending under internal risk assessment systems.

Finance

KOSPI nears 8,000 as AI moves into financial front lines

South Korea\'s KOSPI keeps setting record highs, rising well above 7,000 and nearing the 8,000 mark as foreign buying focuses on large-cap semiconductor and AI shares. The rally is also linked to expectations for government policy and global liquidity, although several factors are seen as potential volatility risks. Investor money is shifting into policy funds, ETFs and tax-saving accounts, while banks expand corporate finance and strategic tie-ups. AI adoption is spreading across financial services.

People & Appointments

Shinhan Financial chairman Jin Ok-dong volunteers at elderly homes in Seoul for Parents\' Day

Shinhan Financial Group held a volunteer event at the Gangbuk Senior Welfare Center in Seoul\'s Gangbuk district on May 6 to mark Parents\' Day, it said on May 7. Group Chairman Jin Ok-dong and CEOs of its affiliates took part. Staff and volunteers made 334 fruit kits containing items such as oranges, apples and pears. They visited elderly households in the district to deliver the kits along with thank-you cards.