News and issues on finance


K-Bank lures more than 200,000 customers in just two weeks

Number of Korea's no.1 internet-only bank, K-bank customers exceeded 200,000 in just two weeks time since it opened for service in April 3. Total deposit and loan volume accounted for 230 billion won and 130 billion each. However vast majority of the bank's customers…
케이뱅크 개소식

Korea's 1st internet-only bank open for service

'K bank', Korea's first internet-only bank is officially launched on April 3 for service. With the launch of the first ever internet-only bank, financial consumers are now able to enjoy more conveneient and innovative banking services at lower costs compared…
우리은행 민영화 관련 공적자금관리위원회 회의

Government's Woori Bank shares finally sold after four attempts

The government decided to sell its 29.7% stake in Woori Bank to seven investors on its fifth attempt to privatize Woori Bank. The government has tried to return the bank the public since 2010. Woori Bank was turned into the hands of the government in the aftermath…
161025 금융의날_001_단체사진

1st Finance Day celebrated

Yesterday marked the first Finance Day. October 25 was celebrated as Savings Day until last year. Savings Day, designated in 1964, has successfully made up to its purpose by raising the people's awareness on the importance of saving which in turn contributed…
제12차 핀테크데모데이 개최

12th Fintech Demo-day

12th Fintech Demo-day was held on October 24. This time's event was honored with the presence of Yip Wei Kiat the Singaporean ambassador to Korea and Sue Kinoshita the acting British ambassador to Korea. At the event, Singaporea and Korea signed a MOU agreeing…

Upcoming schedule for Woori Bank bidding

Sending Information Memorandum(IM) and conducting due diligence starts on Sep. 30. Submission of final offers is due 5PM, Nov. 11. Annoucement of winning bidder will be made on Nov.14 Signing of contract and payment is scheduled on Nov.28.

Korea Inclusive Finance Agency Launched

Korea Inclusive Finance Agency was opened in Jung-gu, Seoul on September 23 to provide enhanced one-stop services for financial consumers. President Park Geun-hye participated the opening ceremony to celebrate the historic event.  

18 investors willing to buy Woori Bank stake

Eighteen investors submitted letters of intent (LOI) to buy the government's 30% minority stakes in Woori Bank in a preliminary bidding. The amount of satkes for which the investors bid adds up to 82 to 119 percent of Woori Bank. The investors who submitted…