Park Chang-yeong

2 weeks ago | pulse.mk.co.kr | Park Chang-yeong |Han Yubin

Non-performing loans (NPLs) at South Korea’s five major financial groups have surged in the first quarter amid the deepening downturn in the economy. According to data from the country’s top five financial groups (KB, Shinhan, Hana, Woori, and NH NongHyup) on Tuesday, the total non-performing loans of their affiliates reached 14.8 trillion won ($10.9 billion) in the first quarter, up by 1.76 trillion won from 13.04 trillion won in December 2024.

2 weeks ago | pulse.mk.co.kr | Park Chang-yeong |Han Sang-heon |Han Yubin

South Korean households are increasingly turning to overdraft accounts ahead of the implementation of the third-stage debt service ratio (DSR) rule in July. According to the country’s five major lenders on Monday, the combined balance of overdraft accounts stood at 39.3 trillion won ($29 billion) as of June 5, up 397.6 billion won from the end of May.

1 month ago | pulse.mk.co.kr | Park Chang-yeong |Han Yubin

South Korean insurer Hanwha Life Insurance Co. (HLI) said on Tuesday that it would raise up to $1 billion via the issuance of overseas capital securities. The preemptive move aims to bring the new solvency capacity (K-ICS·Kicks) ratio to levels recommended by authorities. The insurer’s board approved the plan to issue $1 billion in unsecured, bond-type capital securities targeting global markets, including Europe, the United States, and Asia at a temporary board meeting.

1 month ago | pulse.mk.co.kr | Park Chang-yeong |Park Na-eun |Han Yubin

South Korea’s four major banks are rolling out emergency support measures for small and medium-sized enterprises (SMEs) as the prolonged economic downturn puts even promising companies at risk of financial distress. The move comes as the number of companies flagged as being at high risk of becoming distressed surged to 2,339 as of the end of 2024, or a 24 percent year-on-year increase, according to data from the banking sector.

1 month ago | pulse.mk.co.kr | Park Chang-yeong |Han Yubin

Interest in cyber insurance has surged in South Korea, following the recent SIM card information leak involving SK telecom Co.Insurance companies are responding rapidly by launching related products to help businesses mitigate risks. Hanwha General Insurance Co. announced on Tuesday that the number of cyber insurance policies signed between November 2024 and May 19, 2025, has doubled from the same period last year. It established a Cyber Risk Management Center in November.