Park Na-eun

1 week ago | pulse.mk.co.kr | Park Na-eun |Han Yubin

Kakao Group’s online bank arm KakaoBank Corp. was granted a virtual banking license by Thailand’s financial regulators to re-enter the market for the first time in around 25 years, the company said. Thailand’s Ministry of Finance selected a consortium formed by KakaoBank and Thailand’s SCBx, a major financial holding group, as a “virtual bank” operator on June 19th, 2025.

1 week ago | pulse.mk.co.kr | Park Na-eun |Han Yubin

Shinhan Card Co. will push for a second round of voluntary retirement and sweeping organizational restructuring beginning Thursday, just six months after its last workforce reduction, as it struggles to regain footing amid declining profitability and a loss of market leadership. The credit card firm said that the new voluntary retirement program will be offered to employees born between 1968 and 1979. The move follows a similar initiative in December 2024 that saw 62 employees exit the company.

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.

2 months ago | pulse.mk.co.kr | Park Na-eun |Park In-hye |Han Yubin

South Korean financial institutions are ramping up efforts to utilize the digital asset market, including stablecoins, a type of cryptocurrency designed to maintain a constant value. According to multiple sources from the financial industry on Thursday, Shinhan Bank, NH Nonghyup Bank, and Kbank have decided to participate in the test for overseas remittances using won-based stablecoins, a first in Korea.

2 months ago | pulse.mk.co.kr | Park Na-eun |Han Yubin

Consumer spending in South Korea slowed to an unprecedented level as economic uncertainty deepens amid the martial law declaration by President Yoon Suk Yeol in December 2024 and his impeachment trials, according to Wednesday’s industry data. Data from the Credit Finance Association found that the total value of credit and debit card transactions by customers at nine major credit card companies until February 2025 totaled 147.8 trillion won ($101.8 billion), up a mere 1.4 percent from a year ago.