Hana Financial, Dunamu join forces on blockchain-based remittance system

Hana Financial Group and Dunamu, operator of crypto exchange Upbit, agreed to jointly develop blockchain-enabled financial services as major Korean players accelerate their push into next-generation payment and settlement infrastructure. The companies said Thursday they signed a memorandum of understanding to collaborate on building new financial rails using blockchain. The partnership will cover the development of an overseas remittance system, the introduction of new technology across Hana’s f

Dec. 4, 2025

Shinhan chair's Ddangyo bet: How finance giant disrupted food delivery

When Shinhan Financial Group Chair Jin Ok-dong sent his bank into the food delivery business, critics scoffed at the idea of a financial giant chasing chicken-and-beer orders. But four years later, Ddangyo — Shinhan’s ultra-low-fee delivery app — is rewriting the rules of competition in Korea’s delivery market and reframing how a bank can wield its power for social impact. For Jin, Ddangyo was never about chasing tech multiples. It was a business expression of his long-held principle that financ

Dec. 3, 2025

Woori unveils four-person shortlist for group chair

Woori Financial Group on Tuesday unveiled its shortlist for its next chair, naming current Chair and CEO Yim Jong-yong and banking chief Jung Jin-wan among the four candidates. The list also includes two external contenders whose names were withheld for privacy reasons. The nominations follow the launch of the group’s succession process in late October, during which the executive nomination committee reviewed candidates’ management performance through internal and external evaluations, results f

Dec. 2, 2025

[Photo News] Kakao Bank wins top anti–money laundering award

Dec. 2, 2025

[Photo News] Hana's 20-year milestone

Dec. 1, 2025

Korea seeks NPS swap extension as won remains under pressure

Foreign exchange authorities said Monday they have begun talks with the National Pension Service to extend a currency-swap arrangement set to lapse at the end of the year, as policymakers roll out measures to counter the won’s persistent slide. The move was announced after a Sunday meeting convened by Finance Minister and Vice Prime Minister Koo Yun-cheol, bringing together senior officials from the Bank of Korea, the NPS, the Welfare Ministry, the Industry Ministry and other financial regulator

Dec. 1, 2025

Coupang hit by massive data breach exposing 33.7 million users

E-commerce giant Coupang has admitted to the leak of personal information related to 33.7 million users — nearly its entire customer base — intensifying fears that one of Korea’s most widely used apps has left millions of shoppers exposed. CEO Park Dae-jun issued a public apology Sunday, one day after the company formally disclosed the breach. “I express deep regret over the recent incident at Coupang that began on June 24,” Park said. “We sincerely apologize for causing significant inconvenienc

Nov. 30, 2025

[Finance Awards] Kakao Bank bets big on AI to shape future of digital finance

Internet-only lender Kakao Bank is accelerating its artificial intelligence push as it reshapes its service model around what it calls “AI-native banking,” aiming to make financial services simpler, more intuitive and increasingly conversational. At the start of the year, the bank declared that AI would form the core of its operating infrastructure, spanning everything from customer-facing services to internal processes and global expansion strategies. CEO Yun Ho-young underscored the urgency of

Nov. 27, 2025

Naver, Dunamu map W10tr plan to build global fintech powerhouse

South Korea’s top internet platform Naver and crypto heavyweight Dunamu have pledged to invest a combined 10 trillion won ($6.8 billion) over the next five years, laying out expansion plans and global ambitions ahead of their planned merger. The announcement came at a joint press briefing Thursday, a day after the boards of Naver Financial and Dunamu approved a share-swap deal that will place the crypto operator under Naver Financial’s full ownership. The event, held at Naver’s Pangyo headquarte

Nov. 27, 2025

NPS now biggest force in FX market: finance minister

South Korea is tightening oversight of the National Pension Service’s growing sway over currency markets, unveiling a new four-way working group to monitor the long-term effects of the fund’s investment on the won. “The NPS has the single largest presence in the foreign-exchange market,” Finance Minister Koo Yun-cheol said at a briefing Wednesday. “When the fund undertakes large overseas investments in a short period relative to the size of the FX market, it can fuel price pressures and erode re

Nov. 26, 2025