KB Financial to strengthen nonbanking services

KB Financial Group, one of the country’s largest financial groups, seeks to improve its management structure by strengthening its nonbanking business, the lender said last week.The group hopes to enhance its portfolio by maximizing the synergy created among its financial subsidiaries, which include KB Asset Management and KB Investment and Securities. According to statistics released by the group, some 67 percent of KB’s main profits currently come from KB Kookmin Bank, the country’s largest com

Feb. 11, 2016

Hanwha establishes fintech JV with China’s Dianrong

Hanwha Group has officially embarked into the newly emerging fintech, or financial technology, industry in partnership with China’s leading peer-to-peer lending platform Dianrong.　　Hanwha said that Hanwha S&C, the group’s information technology unit, and Dianrong signed an agreement to establish an equal joint venture in Seoul Thursday.　The new joint venture, unnamed as of yet, will launch an open P2P marketplace lending service -- a modern service that matches lenders directly with borrowers on

Feb. 4, 2016

Shinhan Financial ranks 18th in global sustainable company list

Shinhan Financial Group came in at 18th place on a list of the world’s 100 most sustainable companies, announced Wednesday at the ongoing World Economic Forum in Davos, Switzerland, the Seoul-based group said Thursday. It is the highest ranking that a Korean company has ever reached on the list, which is known as the Global 100 and compiled annually by Canada-based Corporate Knights since 2005. German carmaker BMW topped this year’s list. Aside from Shinhan, three other Korean companies made it

Jan. 21, 2016

Fintech start-up, KB Kookmin roll out robo-adviser

Financial technology start-up Quarterback Investments said Sunday that it has rolled out a robo-adviser solution for trust goods, dubbed the Quarterback R-1, jointly with KB Kookmin Bank, Korea’s largest retail bank by asset value.　Utilizing data from exchange-traded funds and exchange-traded notes in the domestic and global markets, the Quarterback R-1 enables investors to diversify their investment portfolio for stable returns, according to the Korean start-up, an affiliate of fintech firm all

Jan. 10, 2016