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Finance

Woori Financial supplies 34.7 trillion won in productive, inclusive finance over a year, expands SME and regional share

Woori Financial Group supplied 34.7 trillion won in productive and inclusive finance over a year under its Future Shared Growth Project launched in September last year. It expanded funding to small and medium-sized firms and regional businesses, while increasing support for vulnerable groups through measures such as long-overdue debt write-offs. The group said it reviewed performance and next year’s plans at a financial council meeting chaired by Chairman Lim Jong-ryong.

Finance

Financial sector hacking spreads, delays gain support for digital asset tax postponement

A string of hacking incidents in South Korea’s financial sector has led to confirmed personal data leaks at savings banks and mutual finance groups, prompting authorities to step up inspections and security requirements. Banks are moving to raise cybersecurity spending and expand fraud prevention systems using AI. Market volatility and a steep stock selloff also drew a policy response. Political debate intensified over postponing digital asset taxation and regulating exchange shareholders.

Finance

Jeju Bank to reassess customers\' credit monthly, automatically cut loan rates if criteria met

Jeju Bank has introduced a service that reassesses customers’ credit status each month and automatically lowers loan interest rates when rate-cut criteria are met. Customers apply once, after which the bank regularly checks the possibility of a rate cut until the loan is fully repaid. The service starts on Oct. 19 for DJ Bank credit loan customers. Results are provided by text message and through the app, though a rate cut may not apply in some cases.