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Local banking groups step up non-banking biz for better profit, diversification

SEOUL, April 15 (Yonhap) -- Local banking groups are turning to non-banking businesses through takeovers in a bid to diversify their portfolios, cornered by shrinking profit margins and a saturated market, data showed Tuesday. NongHyup Financial Group finalized a deal to buy the three units of Woori Finance Holdings Co., including Woori Investment

Data-leaked card firms may suffer some 100 bln won revenue loss on biz suspension

SEOUL, Feb. 20 (Yonhap) -- The three credit card firms hit by recent massive data leaks may lose some 100 billion won (US$93.6 million) in revenues due to a three-month business suspension ordered by the country's financial regulator, data showed on Thursday. Last month, the Financial Services Commission (FSC) revealed that some 20 million clients' personal data had been leaked from the three credit card firms -- KB Kookmin, NH Nonghyup and Lotte -- as well as Kookmin Bank, which shared customer data with its affiliated card firm.

Watchdog probing banks over massive loan fraud

SEOUL, Feb. 6 (Yonhap) -- South Korea's financial watchdog said Thursday it is investigating several banks for any irregularities or rule violations in a large-scale loan fraud implicating an employee of a KT Corp. affiliate. The Financial Supervisory Service (FSS) said the employee, surnamed Kim, at KT ENS Co. affiliated with KT Corp., the country's No. 2 mobile operator, has taken out some 280 billion won (US$260 million) in loans from Hana, Kookmin and several other banks.

Watchdog probing banks over massive loan fraud

SEOUL, Feb. 6 (Yonhap) -- South Korea's financial watchdog said Thursday it is investigating several banks for any irregularities or rule violations in a large-scale loan fraud implicating an employee of a KT Corp. affiliate. The Financial Supervisory Service (FSS) said the employee, whose name was withheld, at KT ENS Co. affiliated with KT Corp., the country's No. 2 mobile operator, has gone into hiding after taking out some 280 billion won (US$260 million) in loans from Hana Bank, Kookmin and several other banks.

Watchdog probing banks over massive loan fraud

SEOUL, Feb. 6 (Yonhap) -- South Korea's financial watchdog said Thursday it is investigating several banks for any irregularities or rule violations in a large-scale loan fraud implicating an employee of a KT Corp. affiliate. The Financial Supervisory Service (FSS) said the employee, surnamed Kim, at KT ENS Co. affiliated with KT Corp., the country's No. 2 mobile operator, has gone into hiding after taking out some 280 billion won (US$260 million) in loans from Hana, Kookmin and several other banks.

NongHyup picked as top bidder for Woori Investment

SEOUL, Dec. 24 (Yonhap) -- NongHyup Financial Group Inc. was picked Tuesday as the preferred bidder for three units of Woori Finance Holdings Co., in the latest step in the government's push to privatize the state-run financial group. South Korea's largest banking firm by assets chose NongHyup to buy Woori Investment

NongHyup picked as top bidder for Woori Investment

SEOUL, Dec. 24 (Yonhap) -- NongHyup Financial Group Inc. was picked Tuesday as the preferred bidder for three units of Woori Finance Holdings Co., in the latest step in the government's push to privatize the state-run financial group. South Korea's largest banking firm by assets chose NongHyup to buy Woori Investment

NongHyup picked as top bidder for Woori Investment

SEOUL, Dec. 24 (Yonhap) -- NongHyup Financial Group Inc. was picked Tuesday as the preferred bidder for three units of state-run Woori Finance Holdings Co., as the government pushes for the long-pending privatization aimed at recouping the bailout money put in more than a decade ago. South Korea's largest banking firm by asset chose NongHyup to buy Woori Investment

NongHyup picked as top bidder for Woori Investment

SEOUL, Dec. 24 (Yonhap) -- NongHyup Financial Group Inc. was picked Tuesday as the preferred bidder for three units of state-run Woori Finance Holdings Co., as the government pushes for the long-pending privatization aimed at recouping the bailout money put in more than a decade ago. South Korea's largest banking firm by asset chose NongHyup to buy Woori Investment

NongHyup makes highest bid for Woori brokerage batch

SEOUL, Dec. 19 (Yonhap) -- A state-run financial cooperative placed the highest bid for four units of Woori Finance Holdings Co. at the final auction early this week, gaining the upper hand over its two strong rivals in the government-led sale of the country's biggest banking firm, sources said Thursday. NongHyup Financial Group Inc. offered 1.2 trillion won (US$1.13 billion) to Woori Finance to buy Woori Investment
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