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Ex-head of Woori Bank's Tokyo branch found dead

SEOUL, April 8 (Yonhap) -- The former head of Woori Bank's Tokyo branch under investigation for suspected involvement in illegal lending was found dead Tuesday, sources said. The senior official, only identified by his surname Kim, was found dead after apparently committing suicide, sources said. The financial regulator is probing Tokyo branches of Woori Bank and state-run Industrial Bank of Korea on suspicion of creating slush funds following similar irregularities at Kookmin Bank's Tokyo branch.

Two former Kookmin Bank employees to stand trial for illegal lending

SEOUL, March 20 (Yonhap) -- Two former employees of Kookmin Bank's unit in Tokyo have been indicted on charges of extending illegal loans worth nearly 150 billion won (US$140 million) to South Korean companies operating in Japan, prosecutors said Thursday. The Tokyo branch of South Korea's leading bank has been investigated by Seoul prosecutors over suspicions that it lent more than permitted to Japan-based firms to secure returns, some of which were later used to amass slush funds here.

Prosecution to indict 2 former Kookmin Bank employees for illegal lending

SEOUL, March 6 (Yonhap) -- Prosecutors said Thursday that they plan to bring charges against two former chiefs of Kookmin Bank's unit in Tokyo on charges of extending illegal loans worth some 150 billion won (US$140 million) to Korean companies operating in Japan. The Tokyo branch of South Korea's leading bank has been investigated by Seoul prosecutors over suspicions that it lent more than permitted to Japan-based firms to secure returns, some of which were later used to amass slush funds here.

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.

KB Financial chief may face punishment over data leak: regulator

SEOUL, Feb. 18 (Yonhap) -- The chief of KB Financial Group Co., South Korea's No. 3 banking group, may be punished for a recent massive data theft at its credit card unit depending on the results of an ongoing probe, the country's financial regulator said Tuesday. Last month, the Financial Services Commission (FSC) revealed that some 20 million clients' personal data had been leaked from three credit card firms -- KB Kookmin, NH Nonghyup and Lotte -- as well as Kookmin Bank, which shared customer data with its affiliated card firm.

KB Financial 2013 net falls 25.9 pct

SEOUL, Feb. 7 (Yonhap) -- South Korea's No. 3 banking group KB Financial Group Co. said Friday its earnings for 2013 fell 25.9 percent from a year earlier on a squeezed profit margin and valuation loss from its investment in a foreign bank. Net income amounted to 1.28 trillion won (US$1.19 billion) last year, compared with 1.73 trillion won the previous year, the group said in a regulatory filing. But net profit jumped 155 percent on-year to 281.5 billion won in the fourth quarter.

KB Financial 2013 net falls 25.9 pct

SEOUL, Feb. 7 (Yonhap) -- KB Financial Group Co. -- South Korea's No. 3 banking group -- said Friday its earnings for 2013 fell 25.9 percent from a year earlier on a squeezed profit margin and losses from its equity ties with a foreign bank. Net income amounted to 1.28 trillion won (US$1.19 billion) last year, compared with 1.73 trillion won the previous year, the group said in a regulatory filing. But net profit jumped 155 percent on-year to 281.5 billion won in the fourth quarter.

KB Financial 2013 net falls 25.9 pct

SEOUL, Feb. 7 (Yonhap) -- KB Financial Group Co. -- South Korea's No. 3 banking group -- said Friday its earnings for 2013 fell 25.9 percent from a year earlier on a squeezed profit margin and losses from its equity ties with a foreign bank. Net income amounted to 1.28 trillion won (US$1.19 billion) last year, compared with 1.73 trillion won the previous year, the group said in a regulatory filing. But net profit jumped 155 percent on-year to 281.5 billion won in the fourth quarter.

Regulator to lay out client data protection measures

SEOUL, Jan. 21 (Yonhap) -- South Korea's financial regulator said Tuesday it plans to draw up comprehensive measures to better protect confidential customer data held by financial institutions after detailed information of almost half of the country's 50-million population was stolen. The measures set to be unveiled Wednesday will strengthen monitoring of staff at financial companies and their contractors involved in customer data management and will bar financial firms from sharing client data with their affiliates beyond a limited extent.

Regulator to lay out client data protection measures

SEOUL, Jan. 21 (Yonhap) -- South Korea's financial regulator said Tuesday it plans to draw up comprehensive measures to better protect confidential customer data held by financial institutions after detailed information of almost half of the country's 50-million population was stolen. The measures expected to be unveiled next month will strengthen monitoring of staff at financial firms and their contractors involved in customer data management and will bar financial firms from sharing client data with their affiliates beyond a limited extent.
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