| Mobile Web

Search results for WOORI

Industry

SK hynix launches 2 trillion won export supply chain guarantee to ease supplier loans

SK hynix launched an export supply chain reinforcement guarantee programme with the government and major lenders to support semiconductor materials, parts and equipment suppliers. The joint financing scheme totals 2 trillion won, with SK hynix and banks contributing funds and Korea Trade Insurance Corp providing guarantees. Eligible suppliers can receive larger loan limits, preferential rates and reduced guarantee fees. Officials also reviewed progress at the Yongin cluster and the Trinity Fab project.

Finance

Lawmakers criticise banks over interest rates, hacking, IT errors and governance questions at audit

Issues ranging from banks’ loan-rate calculations to hacking incidents, IT system management and financial holding companies’ governance were raised at a National Assembly audit. Lawmakers questioned whether banks cut preferential rates after tighter rules on loan add-on rates. They also probed differences in cybersecurity systems among banks and called for stronger standards. Delayed detection of internal system errors, including cases at Toss Bank, was cited. Governance and outside director appointment procedures at BNK Financial Group, Woori Financial Group and KB Financial Group affiliates were also questioned.

Finance

Securities firms race to expand size amid IMA, investment bank push, raise 8.7 trillion won

South Korean securities firms are accelerating capital expansion as they compete to enter integrated management accounts (IMA) and become comprehensive financial investment businesses. Thirteen brokerages have raised or are seeking 8.705 trillion won this year through rights issues and hybrid capital securities, about twice last year’s total. KB Securities led with 1.7 trillion won. The capital race is tied to rules that expand permitted businesses based on equity levels, including IMA eligibility at 8 trillion won.