Korea

Household loans among South Korean banks grew at the slowest pace in four months in July as the growth of mortgage lending eased.

Spot checks will be carried out on South Korean Standard Chartered and HSBC Holdings over money laundering allegations.

Household loans grew at the slowest pace in four months in July among South Korean banks as the growth of mortgage lending eased amid a tepid property market.

The Export-Import Bank of Korea raised its credit line with Russia's OAO Sberbank to help finance South Korean companies' business projects.

Industrial Bank of Korea's second-quarter earnings went down 35.7 percent from a year earlier.

Woori Finance suffered a 63.1 percent dip on its second-quarter earnings on higher loan-loss reserves and a falling profit margin.

The combined net income of South Korea’s banking system plunged 59% during the second quarter.

Plans to privitize Woori Finance fell through as no one applied for the preliminary bids for the 57 percent government stake.

Plans to privitize Woori Finance fell through as no one applied for the preliminary bids for the 57 percent government stake.

Woori Financial Group audited Woori Bank for two months and found 30 insolvent loans worth US$8.76 million from May 7 to July 6.

Nine major South Korean banks arebeing investigated by the Fair Trade Commission on suspicion of colluding to fix the interest rates on certificates of deposit.

Nirvana Venture Advisors has picked up an equity stake in TranServ, a prepaid payments program manager.

South Korean bank workers will stage a one-day strike late this month to protest a potential merger between KB Finance and Woori Finance.

The Bank of Korea yesterday cut its benchmark seven-day repurchase rate by a quarter of a percentage point to 3%.

South Korean banks are expected to suffer sharp decline in second-quarter net profit.

Samsung and Shinahn will offer a credit card designed exclusively for Korea’s 2.5 million self-employed workers next month.