Korea
StanChart Korea unit employees on strike
The protest of about 3,000 union members against a scheme determining compensation based on individual performance comes as the lender struggles to compete with local rivals.
StanChart Korea unit employees on strike
The protest of about 3,000 union members against a scheme determining compensation based on individual performance comes as the lender struggles to compete with local rivals.
BC Card pushed into Visa-UnionPay fray
BC Card will file a complaint against Visa with the Fair Trade Commission over its unfair transaction activities by end-June.
Woori privatisation collapses behind parliamentary opposition
FSC withdraws proposal to legally ease bank ownership regulations, signaling death of Woori’s stake sale.
Woori stake sale faces another hurdle
Stake sale in danger of collapse anew as FSC vice chairman said the regulator to forgo plan to ease ownership rules.
Korean banks to stay strong amidst rising debt
Fitch says non-bank financial institutions will likely be more affected by it.
Lone Star files appeal to invalidate KEB charges
A lawyer for LSF-KEB Holdings SCA, which holds Lone Star's stake in KEB, said the fund had not deliberately manipulated KEB unit’s stock prices.
StanChart South Korea workers plan to go on strike
Employees demand that the lender should cease adoption of an incentive-based salary system, which is seen to cut salaries by as much as 46%
Woori fails to acquire Hanmi
Setback in $240mn Hanmi takeover seen to affect Woori's plans for overseas expansion.
South Korea regulator bars KDB from Woori bidding
FSC takes note of financial investors’ concern that the formation of a giant state bank could reverse competitiveness of South Korea’s banking sector.
South Korea regulator may ban Hana from M&A
FSC’s sanction on the group’s brokerage and banking units may push the regulator to bar Hana’s KEB prospects.
South Korea regulator to push for revision of rules on Woori sale
The FSC to ease current rules that require a financial holding company to bid for at least 95% of a target holding company to combine their businesses.
Hana to purchase of 5% stake in KEB
Hana to take over stake from Lone Star and possibly from the Export-Import Bank of Korea.
Bank of Korea raises rates to 3.25%
Governor Kim warns of another rate hike in the third quarter.
Woori and BoCom join forces
The strategic alliance of two lenders enables parties to cross-sell products, step up global co-operation and sharing of information among the two lenders' subsidiaries.
Ex-chief of Korea's financial regulator quizzed over bank scandal
A former top financial regulator was questioned for his alleged involvement in Korea's savings bank scandal.
Woori Finance ties up with China's Bank of Communications
South Korea's Woori Finance has signed a preliminary agreement for strategic partnership with China's Bank ofCommunications.
Hana and Lone Star extends talks for KEB
Both parties agree to extend deal for another 6 months as regulatory delays threatened to disrupt Hana's purchase of 51% stake in KEB.
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