South Korea is facing compounded pressure from higher oil prices, a weaker won and rising inflation, with the won-dollar rate nearing 1,540 and oil product prices up about 10 percent from a year earlier. The central bank is expected to hold rates this month, but prolonged price and currency pressures could raise the possibility of a second-half hike. Authorities have tightened household debt controls and pushed market reforms, while the Financial Supervisory Service has urged stronger IT internal controls at internet banks.

Welcome Savings Bank introduced a co-CEO system as it pursues an AI-driven shift in retail finance while strengthening corporate and investment banking. The bank said on March 31 its board appointed Welcome Savings Bank Vice President Park Jong-sung and Welcome F&D CEO Son Dae-hee as new co-chief executives. Park will oversee corporate and investment finance, while Son will lead strategy, support and retail finance, including an AI-based financial transformation.