Savings Bank Collateral Loans Drop Nearly 20% in Three Years
The balance of collateral loans backed by savings and deposits at savings banks has decreased by nearly 20% over the past three years. This decline is attributed to a shift of funds to the stock market and a weakening of the savings banks' competitive edge in attracting deposits. This trend contrasts with the recent increase in collateral loans at the five major commercial banks.According to the Financial Supervisory Service's financial statistics information system, as of the end of the first q
Toss Bank's 'Grow It 31-Day Savings' Surpasses 100,000 Accounts in Just Four Days
Toss Bank's challenge-based savings product is gaining popularity shortly after its launch.The bank announced on August 12 that its 'Grow It 31-Day Savings' surpassed 100,000 accounts just four days after its release on August 6.This product encourages users to save small amounts daily for 31 days while nurturing a squirrel character. A maximum annual interest rate of 10% (before tax) is applied if users successfully save each day without any additional conditions.According to Toss Bank, 94% of
NH Nonghyup to Expand Chuseok Gift Set Offerings from Budget to Premium Options
NH Nonghyup is set to introduce a range of special sale products with varying price points, from premium to budget-friendly options, ahead of the upcoming Chuseok holiday.On August 12, NH Nonghyup held its '2026 Chuseok Special Sales Strategy Meeting' to review its sales strategies for holiday gift sets.This year, the company plans to diversify its offerings, focusing on fruits, premium beef, pork, seafood, and health products. It aims to reduce the financial burden on customers by linking new p
Actress Ha-young Apologizes for Great-Grandfather's Pro-Japanese Controversy
Actress Ha-young has issued a handwritten apology regarding the pro-Japanese controversy surrounding her great-grandfather.On August 12, she opened her Instagram post by saying, "I sincerely apologize for the disappointment and hurt caused by matters related to my great-grandfather."She continued, "Recently, as I learned about the past actions of my great-grandfather Ahn Sang-ho, I have reflected on my family's history with a heavy heart. Until now, I only had a fragmented understanding of my gr
Kim Hak-kyun of Shin Young Securities: Reviving the KOSDAQ Market Requires Trust Restoration
Kim Hak-kyun, head of the research center at Shin Young Securities, began his career as an analyst in 1997. He has worked at Shinhan Investment Corp., Korea Investment & Securities, and Mirae Asset Daewoo before leading the research center at Shin Young Securities. He has witnessed significant turning points in the Korean capital market, from the Asian financial crisis to the global financial crisis and the surge in the stock market following the COVID-19 pandemic. While the KOSPI has seen some
Naver Proposes Unified Labor Negotiations, Raising Tensions in IT Sector
Naver's labor union is advocating for the consolidation of collective bargaining, currently conducted by individual subsidiaries, into a unified approach for the entire corporate group. This move has raised concerns among competitors, including Kakao and the gaming industry.On August 12, Oh Se-yoon, vice chair of the IT committee of the Korean Chemical and Textile Workers' Union and head of the Naver branch, spoke at a forum held at the National Assembly, stating, "The Naver branch is negotiatin
Yoon Sang-ho's 'Paradise Lost' to World Premiere at Toronto International Film Festival
Yoon Sang-ho's new film 'Paradise Lost' has been officially scheduled for screening at the 51st Toronto International Film Festival.The film will have its world premiere on September 13 at 5:30 PM at the Royal Alexandra Theater. Yoon Sang-ho, along with actors Kim Hyun-joo and Bae Hyun-sung, will attend the red carpet event prior to the screening.Yoon, Kim, and Bae are set to arrive in Toronto on the morning of September 12 to begin their festival activities. The trio will participate in the red
High Volatility is the New Normal, Says Kim Hak-kyun of Shin Young Securities
Last month, the domestic stock market experienced extreme volatility, with fluctuations of hundreds of points in a single day. Despite Samsung Electronics and SK Hynix reporting record earnings, their stock prices plummeted, only to rebound the next day. Although the volatility has somewhat decreased in August, predicting market direction remains challenging. Some have even likened the stock market to a gambling table.Research centers at securities firms, tasked with analyzing and forecasting th
Hantap Hits Upper Limit for Second Day Following Major Share Purchase Announcement
Hantap has recorded its upper limit for the second consecutive trading day, buoyed by news of a large share purchase by its largest shareholder.According to the Korea Exchange, as of 2:14 PM on August 12, Hantap's stock was trading at 2,795 won, up 645 won (30.00%) from the previous day. The stock had already reached the price limit (29.99%) the day before, continuing its strong performance.The surge in stock price is attributed to the decision by the largest shareholder to purchase 2 million co
Korean Cosmetics Company Kolmar Reports Record Q2 Earnings, Shares Surge 25%
Korean cosmetics company Kolmar has seen its shares surge over 25% following the announcement of record earnings for the second quarter of this year.As of 1:58 PM on August 12, Kolmar's stock was trading at 135,300 won, up 27,400 won (25.39%) from the previous trading day, according to the Korea Exchange.The company's second-quarter results exceeded market expectations, leading to improved investor sentiment.Kolmar reported consolidated revenues of 861.3 billion won and an operating profit of 11