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Finance

K Bank launches \'Ansim\' overdraft credit line for Seoul small business owners

K Bank will take part in Seoul\'s Ansim overdraft credit-line support programme for small business owners and self-employed people in the city, it said on Wednesday. The city launched the programme last year. It starts on March 19 with six banks and will provide 200 billion won in the first half for about 20,000 people. The annual supply is set at 500 billion won. The per-person limit is up to 10 million won.

Finance

JPMorgan to buy Apple credit card issuing business from Goldman Sachs, eye deposit accounts

JPMorgan Chase has agreed to acquire the Apple credit card issuing business from Goldman Sachs, the Wall Street Journal reported on Jan. 7. The deal was reached after about a year of negotiations and would mark Goldman Sachs\' effective exit from consumer finance through the sale. JPMorgan is buying about $20 billion in card loan balances at a discount of more than $1 billion, the report said. JPMorgan will continue issuing cards and is considering a new deposit account with Apple.