Han Sang-heon

1 week ago | pulse.mk.co.kr | Han Sang-heon |Han Yubin

South Korea’s internet-only banks are rushing to attract senior customers, an asset-rich demographic, as part of their effort to find a new growth engine as the population ages rapidly. Toss Bank said on Wednesday that it will dedicate a special unit to developing products and services for middle-aged and elderly customers. The initiative includes life care offerings tied to healthcare and asset management.

1 week ago | pulse.mk.co.kr | Han Sang-heon |Han Yubin

South Korea’s five major commercial banks saw their demand deposits and money market deposit accounts (MMDA) fall sharply as investors shifted funds into equity markets amid global stock volatility triggered by new U.S. tariffs. The five banks are KB Kookmin Bank, Shinhan Bank, Hana Bank, Woori Bank, and NH Nonghyup Bank.

1 month ago | pulse.mk.co.kr | Han Sang-heon |Han Yubin

South Korea’s online lender Kbank on Tuesday introduced a refinancing loan that allows individual business owners to switch their secondary real estate-backed loans entirely online. At a press conference on Tuesday, Kbank announced the launch of a refinancing product under its Business Owner Real Estate-backed Loan program. In August 2024, the bank had launched a senior loan product, followed by a subordinate loan in September.

2 months ago | pulse.mk.co.kr | Han Sang-heon |Han Yubin

South Korea’s major credit card firms speed up their adoption of artificial intelligence (AI) for more sophisticated customer service and fraud detection. By integrating generative AI into traditionally human-dependent services, they aim to improve service quality and reduce costs. Samsung Card Co. is exploring how to use Gauss, the generative AI developed by Samsung Electronics Co., for its customer-facing operations, such as consultations and personalized marketing.