송기영 기자

Song Ki-young Deputy Editor, Finance News Desk

Total articles(51)
Korea extends regulations on 'trick mortgages' until March 2024 to block LTV evasion
Korea extends regulations on 'trick mortgages' until March 2024 to block LTV evasion
The administrative guidance to prevent savings banks and specialized credit financial companies from circumventing regulations on housing mortgage loans (home loans) with lending agents will be extended until March 1 of next year. According to the financial sector on the 21st, the Financial Supervis...
Lotte Card sale faces challenges as KB, Hana prioritize fundamentals over acquisitions
Lotte Card is starting the process of sending teaser letters to potential acquirers, marking the official beginning of its search for a new owner. Financial holding companies such as KB Financial Group and Hana Financial Group are mentioned as strong acquirers; however, due to unfavorable market con...
Korean savings banks face potential restructuring as evaluations conclude
More savings banks are expected to be subject to mandatory restructuring orders from financial authorities. Previously, at the end of last year, Anguk and Raon Savings Banks underwent corrective measures and are currently working on management improvements. According to the financial sector on the 1...
MG Non-Life Insurance faces liquidation review as union blocks due diligence
On the 16th, the Korea Deposit Insurance Corporation noted that if the sale of MG Insurance fails, it will consider restructuring options, including liquidation or bankruptcy. Meritz Fire & Marine Insurance, which was selected as the preferred bidder for MG Insurance, has been unable to proceed with...
Justin Kim warns Korea's blockchain lags due to lack of regulations
Justin Kim, head of Avalanche Asia, noted on the 16th that this year, tokenized money market funds (MMFs) participating U.S. private equity firms or corporations are rapidly growing under the approval of the Securities and Exchange Commission (SEC). In contrast, he pointed out that the lack of relat...
Korea to pilot accountability framework for large investment firms, insurers in April
The Financial Services Commission and the Financial Supervisory Service announced on the 15th that they will conduct a pilot operation ahead of the introduction of a responsibility framework for large financial investment companies and insurance companies in July. The subjects are financial investme...
FSS questions integrity of Jang Ha-won's acquittal in Discovery Fund case
Former Discovery Asset Management CEO Jang Ha-won received a final not guilty verdict regarding allegations of illegal fund management, increasing the burden on Lee Bok-hyun, the head of the Financial Supervisory Service (FSS), who directed the related investigation. The FSS had conducted further in...
FSS investigates 400 individuals for facilitating insurance fraud in South Korea
The Financial Supervisory Service and the non-life insurance industry reported on the 14th that 400 individuals were referred for investigation on charges of facilitating insurance fraud just five months after the special law on insurance fraud took effect in August of last year. The FSS explained t...
Hana Bank issues Euro bonds as banking sector maintains external credibility
As uncertainty in the domestic economy expands, banks are moving to raise funds in the overseas bond market. Despite unfavorable economic conditions such as domestic political instability and high exchange rates, the banking sector is expected to maintain a high level of external credibility, allowi...
Ripple regains third place in market cap by surpassing $2.5
Ripple has reclaimed its position as the third cryptocurrency by market capitalization, surpassing $2.5. The leading cryptocurrency, Bitcoin, continued its downward trend. As of 8 a.m. on the 13th, Ripple is trading at $2.5 on the global coin market tracking site CoinMarketCap, down 1.83% from 24 ho...
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