With the Korea Federation of Banks (KFB) set to appoint its next chairman, several former financial executives and regulators are emerging as potential candidates to take the helm of the country’s leading banking lobby, according to industry officials on Friday. The federation represents 23 full members — commercial, regional and internet-only lenders — as well as 33 associate members, comprising branches of foreign banks. The incumbent, Cho Yong-byoung, is due to leave office on Nov. 30. Yoon Jong-kyoo, former chairman of KB Financial Group, has long been viewed as a front-runner. He served as a vice chairman at accounting firm Samil PwC and president of KB Kookmin Bank before leading KB Financial from 2014 to 2023, overseeing major acquisitions including LIG Insurance and Hyundai Securities. But the prospect of another KB Financial veteran taking a top post at a financial industry association has drawn growing resistance. The concern has intensified after Lee Dong-chul, a former KB Financial vice chairman, took the helm of the Credit Finance Association this year, followed by Kim

Korea Electric Power Corp. (KEPCO) has won the UNLEASH Learning and Development Award for the second consecutive year, becoming the first Korean company to achieve the feat and reaffirming its global competitiveness in human resource development (HRD), the state-run utility said Friday. The award was presented at UNLEASH World 2026, a major human resources development conference, in Paris on Thursday (local time), according to KEPCO. Established in 2016 by the European Association for People Management and U.K.-based HR technology group UNLEASH, the award recognizes excellence in HRD, based on its strategic impact, organizational role and contribution to business performance. The recognition follows KEPCO's consecutive wins at the ATD Awards, organized by the U.S.-based Association for Talent Development, over the past two years, further demonstrating the company's expertise in employee training and talent management. KEPCO said evaluators recognized its alignment of HRD with business strategy, data-driven personalized training and integration of HRD with human resource management (HRM).

Woori Financial Group Inc. on Friday reported a decline in its third-quarter net profit on a one-off factor. Its net profit reached 1.04 trillion won ($784 million) in the July-September period, down 15.7 percent from a year earlier. The earnings exceeded market expectations. The average estimate of net profit by analysts stood at 963.4 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. In the first nine months of the year, the banking group racked up 2.66 trillion won in net profit, down 4.9 percent on-year. Operating profit for the July-September period was 1.41 trillion won, up 43.6 percent from a year ago, and revenue also jumped 66.2 percent to 13.3 trillion won. Interest income rose 1.7 percent on-year to 2.37 trillion won in the third quarter. Its non-interest income, on the other hand, sank 7.6 percent on-year to 581 billion won in the July-September period, Woori said. The financial group's flagship Woori Bank, meanwhile, reported a net profit of 1.02 trillion won in the third quarter, sharply up from a net profit of 736 billion won

Hana Financial Group Inc. on Friday reported a rise in net profit in the third quarter of the year, driven by a rise in interest and non-interest income. The banking group said it racked up a net profit of 1.22 trillion won ($919 million) in the July-September period, up 7.86 percent from a year earlier. The earnings are higher than market expectations. The average estimate of net profit by analysts stood at 1.21 trillion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. Hana Financial posted 1.63 trillion won in operating profit for the quarter, compared with 1.48 trillion won a year ago. Revenue also rose 83.6 percent to 19.99 trillion won. In the first nine months of the year, Hana racked up 3.62 trillion won in net profit, up 5.56 percent on-year, marking the highest ever. Hana Financial posted an interest income of 7.48 trillion won in the January-September period, up 10.37 percent on-year, and its commission income spiked 29.8 percent to 2.14 trillion won over the cited period. Its flagship Hana Bank reaped a net profit of 1.19 trillion won

The Korea Securities Depository (KSD) has directed funding toward social welfare and innovative businesses, contributing an average of around 1.78 billion won ($1.34 million) annually from 2023 to 2025 and 1.55 billion won for this year, the state-run agency said Friday. Headquartered in Busan, KSD focuses much of its social contribution work on developing local talent, helping young people become financially independent and strengthening the regional economy. Its programs range from scholarships and job training to funding for social enterprises, startups and small and midsize businesses. One such effort is the Open Campus, which introduces university students to KSD’s work and career opportunities in the securities industry. Participants learn about its core functions, including securities settlement, get information on recruitment and speak with current employees. Launched in 2019 with 35 students from five universities, it has grown to 60 students from 12 universities this year. Since 2025, the program has been part of a wider initiative to strengthen Busan’s financial-sector tal

Nongshim is bringing the flavors of Korea’s instant noodles to Japan’s fashion-conscious young consumers, joining forces with fashion platform Musinsa for a 17-day pop-up event in Osaka that pairs Korean food with fashion and beauty. The Korean food company is operating a Shin Ramyun brand booth at Musinsa Osaka Pop-up Store 2026 at VS in Umeda through Nov. 8. The collaboration aims to introduce Japanese shoppers drawn to Korean fashion to Korean food culture through hands-on experiences, with Umeda serving as a busy commercial district frequented by young consumers and international tourists. At the booth, visitors can sample freshly prepared Shin Ramyun Tomba, using an instant noodle cooker modeled on machines popular along Korea’s Han River, where people cook noodles on-site. Visitors who follow Nongshim Japan’s official Instagram account can try the dish, while those who complete a survey after tasting it can receive Shin Ramyun Rose, with additional branded merchandise available through a prize draw. Shin Ramyun Tomba combines spicy seasoning with a creamy flavor and has gain

Beauty of Joseon, Korean beauty brand known for its traditional ingredients and modern skin care, has expanded to 1,263 Boots stores across Britain, marking one of the largest retail footprints for a Korean beauty brand in Europe. The brand, owned by Goodai Global, entered Boots in June 2024 and has since expanded rapidly across the British health and beauty retailer’s network, according to a company announcement Friday. Beauty of Joseon also operates dedicated brand displays in 100 Boots stores, the largest such presence among Korean beauty brands at the retailer. The expansion comes as the brand continues to rank among Boots’ top-selling Korean beauty brands, reflecting growing demand for K-beauty products in physical retail stores beyond online channels. In April, Beauty of Joseon held the first solo pop-up by a Korean beauty brand at Boots, at the retailer’s store in Westfield Stratford in London. During the pop-up month, Beauty of Joseon ranked fifth among about 200 skin care brands sold at Boots and first among roughly 20 Korean beauty brands, according to company data. It also

Bereaved family members of industrial accident victims at Coupang on Friday denounced the results of a labor inspection into the online retailer, accusing the labor ministry of giving the company a "free pass." After an inspection of the company, the labor ministry said Thursday it decided not to recommend a criminal investigation into cover-up allegations surrounding the death of a Coupang logistics worker in 2020. The worker died of acute myocardial infarction following an overnight shift, raising suspicions of overwork. While the probe found that Coupang founder Kim Bom-suk had made orders not to keep records indicating the employee had worked hard, the ministry said the statute of limitations for the case had already passed. "(We) denounce the labor ministry for giving Coupang a free pass without a proper investigation," the family members said in a press statement. The bereaved family members said they have requested the state auditor to launch an inspection into the ministry, arguing the government's failure to properly investigate the Coupang case led to the expiry of the statute o

Korean shipbuilding giant HD Hyundai Co. said Friday it will establish a joint venture with U.S. engineering and construction company Kiewit to build a new shipyard in the United States. HD Hyundai and Kiewit signed an agreement in Houston on Thursday (local time) to establish the joint venture, tentatively named HD-Kiewit Shipbuilding LLC. The joint venture plans to begin construction of the shipyard next year, with full-scale operations targeted for 2029. Under the partnership, HD Hyundai will provide shipbuilding technology and production expertise, while Kiewit will leverage its engineering and construction capabilities to support the development of the facility. HD Hyundai said the project is significant as it involves building a new shipyard rather than upgrading an existing facility, a move expected to help expand U.S. shipbuilding capacity and strengthen domestic supply chains. The joint venture will explore business opportunities in U.S. Navy logistics support vessels and commercial ships, while also considering the production and supply of ship blocks and modules to U.S. shipyar

Potential government regulatory scrutiny may have been the main factor behind SK hynix’s decision to halt plans for a U.S. listing of its subsidiary Solidigm, according to industry sources Friday. Earlier in the day, SK hynix announced that its U.S.-based NAND flash memory subsidiary will halt its review of potential pre-initial public offering (IPO) fundraising and IPO options, citing volatile capital markets and recent trends in semiconductor stock prices, the chip giant said Friday. “Even though SK hynix cited market conditions, the government’s warnings may have played a greater role in the decision,” an industry source said. After reports emerged in August that Solidigm was considering a U.S. IPO as early as next year, potentially valuing the company at up to $150 billion, concerns arose that the listing could undermine SK hynix’s shareholder value. Since then, SK hynix has repeatedly responded to reports of a possible U.S. listing by saying that no decision had been made. However, amid mounting controversy over Solidigm’s potential dual listing, financial authorities war