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Finance

Four major financial groups\' net profit tops 11 trillion won, competition shifts from banks to capital markets

South Korea’s four major financial holding groups posted combined first-half net profit of 11.34 trillion won, up 9.8 percent from a year earlier, helped by steady interest income and rising fee income from capital-market businesses such as securities, wealth management and investment banking. As non-bank earnings contributions expanded, the competitive focus among groups increasingly shifted to capital markets. In banking, Shinhan Bank led in net profit, while Woori Bank was the only one to decline.

Finance

Woori Financial Group to train young IT talent with eight affiliates

Woori Financial Group has been selected as an operator of the Labour Ministry-led K-New Deal Academy. It plans to provide training in digital jobs such as AI and big data for unemployed young people and to offer scholarships to vulnerable youths. Woori Financial said it will recruit trainees for the WooriWON Youth IT Academy until Aug. 2. Eight group affiliates will participate, and 60 trainees will receive 600 hours of training over about four months.

Finance

Banks race to win Youth Future Savings customers with preferential rates, events and affiliate perks

South Korean banks are stepping up competition to attract young customers following the launch of the government-backed Youth Future Savings product. With most banks offering similar structures such as base rates, government contributions and tax breaks, lenders are differentiating through preferential-rate conditions, promotional events and group affiliate benefits. Banks aim to secure long-term relationships as only one account per person is allowed. The government has signalled it will accommodate eligible applicants even if demand exceeds the budget.