Finance

Hana Bank signs won swap deal with RFI, first for South Korean banks

Hana Bank signed a won swap deal in London with a foreign bank registered as a Recognised Foreign Institution, it said. The bank said it was the first time a South Korean bank had concluded a won swap transaction with an RFI. Hana said its London funding centre supplied won liquidity directly to overseas won swap demand. It plans to expand the centre’s scope from FX and remittances to sales of won government bonds, domestic stocks and won derivatives.

Finance

Coocon Q2 operating profit up 6.3 percent to 4.96 billion won

Coocon posted year-on-year growth in both revenue and operating profit in the second quarter and plans to expand new businesses in the second half. The company reported second-quarter revenue of 17.96 billion won and operating profit of 4.96 billion won. It launched an MCP-based data API and linked global mobile payment services, and completed a stablecoin proof of concept. Coocon also plans to establish a local unit in Singapore this year.