Hana Financial Group completes cloud migration with Oracle
South Korean firm shifts 15 million customer accounts off premises.
South Korea
Alternative investor DarcMatter and crypto fund #Hashed team up
Alternative investment platform DarcMatter teams with South Korea’s crypto fund #Hashed.
Samsung loses its CEO despite record profits
The CEO of Samsung Electronics – Oh-Hyun Kwon – has thrown in the towel, citing an “unprecedented crisis” at the company as his reason, reports Telecoms.com (Banking Technology’s sister publication). The specifics of that crisis were not revealed in “an emotional letter” (according to the Samsung press release) sent to all employees by Kwon, who […]
Kakao Bank attracts 820,000+ clients in four days since launch
Kakao Bank, one of South Korea’s first digital only banks, says it has attracted KRW 535 billion ($477 million) worth of business in deposits and loans in just four days since its launch.
LG Electronics unleashes mobile payments in South Korea
Watch out Samsung Pay, but South Korean titan LG Electronics has unleashed its mobile payment service in the country. Called LG Pay, it will be offered first as a service that allows users to pay offline in the same way as a credit card. Its use is limited at the moment to Shinhan, KB, BC […]
Shinhan Bank and Streami to launch Bitcoin remittance service
South Korea’s Shinhan Bank is launching a Bitcoin remittance service between Korea and China, with Hong Kong as an intermediary. The service will be available in December.
Samsung mulls blockchain adoption
Samsung Group could be turning its eyes toward blockchain, according to the Korean Times. The CEOs of Samsung Group subsidiaries attended a lecture on blockchain at Seoul National University, which could be a sign that the group is looking to jump on the crowded blockchain bandwagon. Local media in South Korea also reported Samsung Group […]
SK Telecom and Hana Financial team for mobile platform launch
South Korea’s SK Telecom and Hana Financial Group have formed a joint venture (JV) agreement to develop and launch a mobile financial services platform. The firms say the deal combines SK Telecom’s mobile technologies and big data analytics with Hana Financial Group’s experience in financial products and mobile financial services. Kim Jung-tae, chairman of Hana […]
Apps open up in South Korea for personal finance
The South Korean government is launching an open platform designed to let firms develop and test apps for personal finance management. According to Korea Joongang Daily, the platform will be available at the end of this month. The Financial Services Commission in South Korea announced today (10 August) that 16 banks and 25 brokerage firms […]
Two digital-only banks set to launch in South Korea
South Korea’s banking sector is getting a shake up with two digital-only banks applying for regulatory approval in the second half of this year. According to Financial Services Commission (FSC) chairman Yim Jong-yong; K Bank, led by KT Corporation (formerly Korea Telecom), and Kakao Bank, led by internet company Kakao; plan to apply for approval […]
DTCC teams with Korea Exchange for trade repository solution
The Depository Trust & Clearing Corporation (DTCC) and the Korea Exchange (KRX), the securities exchange operator in South Korea, have signed a memorandum of understanding (MoU) to co-operate with each other on a trade repository solution in South Korea. Under this deal, both organisations will explore linking DTCC’s global trade repository (GTR) solution directly to […]
IBM Watson to bring cognitive computing to South Korean banking
IBM and SK Holdings C&C, a South Korean IT services company, are planning to bring IBM’s Watson cognitive technology language services to South Korean banking. The alliance, which includes training Watson to understand Korean, is designed to “dramatically accelerate” the adoption of cognitive computing throughout the region, giving South Korea-based developers a set of localised […]
Korean stock exchange plans blockchain-powered platform
Korea Exchange (KRX), the securities exchange operator in South Korea, plans to launch a platform powered by blockchain to liven up the off-board trading market. According to The Korean Times, KRX has started “preliminary steps” to introduce the new platform connecting sellers and buyers to trade securities directly. “Though many steps remain before the system’s […]
