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bank

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KakaoBank vows to boost digital finance cooperation with Mongolia

The online lender plans to invest in Mongolia’s M Bank and expand cooperation on credit assessment and AI-driven financial services.

2026.7.10

A person walks in front of major banks' ATM booths in central Seoul on Feb. 22. [NEWS1]

Watchdog slashes fines on 5 banks over mis-selling of HK-tied derivatives

Five banks were slapped with some 600 billion won ($393 million) in penalties by the financial watchdog Thursday over their mis-selling of equity-linked securities products tracking Hong Kong’s Hang Seng Index.

2026.6.4

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A banner for mortgage loan service is seen attached outside a bank in Seoul on May 31. [NEWS1]

Korean borrowers feel the squeeze as interest rates rise

With key rate hikes increasingly seen as inevitable, borrowers are already growing concerned about the prospect of higher interest payments for their credit loans and mortgages.

2026.5.31

An application page for credit loan service is seen on a mobile device's screen in a photo taken in March. [YONHAP]

Credit loans at local banks sharply rise in May amid stock rally

Credit loans at major Korean banks surged in May at the fastest pace in more than five years, data showed Sunday, as investors increasingly took out loans to buy stocks amid a record-breaking market rally.

2026.5.31

Bank of Korea in central Seoul on Aug 12, 2025. [YONHAP]

BOK to actively join digital currency trial with BIS, other central banks

The Bank of Korea (BOK) said Wednesday that it will actively join an international project to explore how tokenized commercial bank deposits could improve the current financial system, especially for cross-border payments.

2026.5.28

Major banks' automated teller machines are seen installed in downtown Seoul on May 3. [NEWS1]

Korean banks see overseas net income rise by 2 percent in 2025

Korean banks' net income from overseas business slightly increased 2.3 percent from a year earlier in 2025, backed by a rise in interest income, data showed Thursday.

2026.5.21

A person walks out of a bank in downtown Seoul on May 19. [YONHAP]

Banks' Q1 earnings down on fall in noninterest income

Korean banks' net profit edged down in the first quarter of the year from a year earlier due mainly to a fall in noninterest income, data showed Wednesday.

2026.5.20

The headquarters of the Financial Supervisory Service in western Seoul [YONHAP]

Banks' household loan growth rises for second consecutive month in April on mortgage lending

Household loans extended by banks rose for the second consecutive month in April — despite tight regulations — as mortgage loans picked up, data showed on Sunday.

2026.5.17

Presidential office policy chief Kim Yong-beom briefs reporters at the Blue House on April 27 regarding President Lee Jae Myung's meeting with Google DeepMind CEO Demis Hassabis. [YONHAP]

Online posts denounce Korea's credit score system as 'cruel.' Their author designed it.

A series of Facebook posts calling Korea's credit score system "cruel" has rattled the financial sector — not least because the author helped design it.

2026.5.10

Min Jee-nah, the newly-appointed director of market and counterparty risk at the World Bank Group, is shown in this undated photo from the Multilateral Investment Guarantee Agency's website. [YONHAP]

Korean appointed as new director of market and counterparty risk at World Bank Group

A Korean has been appointed as the new director of market and counterparty risk at the World Bank Group (WBG), the Ministry of Finance and Economy said Sunday.

2026.5.3