The Busan Bank Co., Ltd.
Location
Busan
Founded
1967-11-29
Website
Risk Signals
263 news mentions monitored
Industry Context
This company is tracked across risk categories, including those related to its sector (e.g., Commercial Banks, Not Elsewhere Classified), including supply chain integrity, ESG practices, labor disputes, and regulatory compliance.
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Recent Articles about The Busan Bank Co., Ltd.
Live alerts from global media, monitored by Business Radar
2024-06-25 (indifocus.kr)
BNK Busan Bank holds a business agreement ceremony for telecommunication financial fraud prevention support project for foreigners
On the afternoon of the 16th, BNK Busan Bank (CEO Bang Seong-bin) held a meeting for foreign residents at the Busan Bank headquarters together with the Busan Ulsan Branch of the Financial Supervisory Service and the Busan Foreign Resident Support Center.
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2024-05-17 (hankooki.com)
BNK Busan Bank conducts financial fraud prevention training for foreigners
[Busan = Daily Korea Reporter Yang Jun-mo] BNK Busan Bank announced on the 17th that it held a business agreement signing ceremony for a financial education support project for foreign residents at its headquarters on the 16th with the Busan Ulsan Branch of the Financial Supervisory Service and the Busan Foreign Resident Support Center. The agreement was prepared as part of Busan Bank's process to realize inclusive finance and to reduce foreign residents' exposure to financial fraud risks. Busan Bank and the Financial Supervisory Service visited the Busan Foreign Resident Support Center to learn about the latest financial fraud damage cases and safe financial transactions. Training on methods will be held on the 19th and 26th. In particular, financial companies where foreign workers and international students can be easily exposed.
Read more![[ESG] Employee of BNK Financial Busan Bank, who received bribes from the owner family of a construction company in Busan for several years... How far will the investigation reach?](https://images.businessradar.com/articles/a400fa33-96d2-4cc9-8265-9cced476fe40)
2024-02-08 (incheonilbo.com)
[ESG] Employee of BNK Financial Busan Bank, who received bribes from the owner family of a construction company in Busan for several years... How far will the investigation reach?
Five employees of the credit-related department, including the manager in charge of real estate project financing (PF) loans for the main branch of Nam-gu, Busan of BNK Financial Group (BNK Financial) Busan Bank, are being investigated by the prosecution. They are accused of receiving tens of millions of won in money and valuables, including department store gift certificates, from the family of the owner of I Construction Company in Busan around holidays for the past three years. BNK Financial, a poor company, suffered a crack in customer trust due to embezzlement and corruption by its employees, and another corruption incident occurred. In 2023, the number of employees in charge of real estate project financing PF at BNK Finance and Gyeongnam Bank will be approximately 300 from 2007 to July 2022.
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2024-01-17 (smedaily.co.kr)
Joo Dam Dae’s 1,000 trillion won ‘Money Move’ has begun
The 'money move' trend is growing stronger in the 'home mortgage loan replacement' market, which is estimated to be worth about 1,000 trillion won. The refinance loan service, which allows users to easily transfer their mortgage at a lower interest rate online, opened on the 9th, and the application amount exceeded 1 trillion won in just four days of implementation. Internet-only banks and local banks are putting their lives on the line to secure refinance loan customers by offering low interest rates in the low 3% range per annum. Commercial banks have also jumped into the trap of attracting refinancing customers by offering events such as monthly interest support. According to the banking sector on the 17th, Daegu Bank had the lowest interest rate for home loan (mixed type) through refinance loan as of the previous day.
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2023-12-08 (joseilbo.com)
Daegu Bank ranked 1st in local bank brand reputation in December... Busan and Gwangju Bank ranked 2nd and 3rd - Jose Ilbo
◆...Photo = Provided by DGB Finance Local bank brand reputation As a result of big data analysis in December 2023, Daegu Bank was ranked 1st, Busan Bank was 2nd, and Gwangju Bank was 3rd.
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2023-12-04 (nocutnews.co.kr)
Prosecutors conduct search and seizure of Busan Bank headquarters due to suspicions of employee misconduct
Prosecutors conducted a search and seizure of the Busan Bank headquarters. The Busan District Prosecutors' Office's Eastern Branch conducted a search and seizure at the Compliance Monitoring Department on the 6th floor of Busan Bank's headquarters in Munhyeon-dong, Nam-gu, Busan, at 10 a.m. on the 4th. While conducting a company-related investigation, the prosecution...
Read more![[Financial Focus] The reason why Daegu Bank is able to convert to a national bank but not No. 1 Busan Bank](https://images.businessradar.com/articles/85170ad7-d87d-4eff-b55a-1ad25cc79468)
2023-07-06 (chosun.com)
[Financial Focus] The reason why Daegu Bank is able to convert to a national bank but not No. 1 Busan Bank
Financial focus shifts to national banks Why Daegu Bank is working but Busan Bank is not No. 1 Among the six local banks, only Daegu and Jeju meet the requirements Capital of KRW 100 billion and governance requirements must be met Lotte for BNK Financial Group and Samyang for JB Financial Group have 4% voting rights as major shareholders Loss of control if limited to within
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2022-08-01 (forkast.news)
Busan Bank employee embezzles US$1.1 mln, invests in Bitcoin: report
An employee on the foreign exchange team of South Korea’s BNK Busan Bank allegedly embezzled 1.48 billion Korean won (US$1.1 million) in customer funds to
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2018-06-17 (koreatimes.co.kr)
38 bank officials indicted for hiring irregularities
Prosecutors indicted 38 senior-level officials at six banks for engaging in hiring irregularities. The Supreme Prosecutors' Office said officials from Kookmin, KEB Hana, Woori, Busan, Daegu and Kwangju banks were charged with obstruction of business.
Read more![[Market+] Record-high embezzlement from local banks... “It will get better if the executive director’s responsibility is strengthened.”](https://images.businessradar.com/articles/7813da6b-2227-45d5-9ee8-7553de8b2f8a)
(businessplus.kr)
[Market+] Record-high embezzlement from local banks... “It will get better if the executive director’s responsibility is strengthened.”
The number of financial accidents detected at local banks last year nearly doubled compared to the previous year. Inadequate internal control was revealed through large and small accidents ranging from breach of trust and bribery worth less than 1 billion won to historic embezzlement worth hundreds of billions of won. In particular, the need for internal control management is increasing for local banks due to vulnerabilities in their internal control systems resulting from cultural characteristics. Accordingly, attention is focused on whether improvements will be made through the implementation of the amendment to the Financial Company Governance Act in the second half of this year. ◇ Last year, there were 11 financial accidents at six major local banks... According to the other status report of each bank announced to the Korea Federation of Banks on the 18th, 5 cases compared to the previous year, last year, BNK Busan/Gyeongnam Bank, DGB Daegu Bank,
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(ebn.co.kr)
Bedaein has a long way to go, from embezzlement to bribery... will it be okay like this?
Inadequate internal control of Busan and Gyeongnam Banks has emerged. Organizational reorganization and personnel changes have been carried out to prevent financial accidents. “It is important to restore the lost trust of local residents.” Following the embezzlement incident at Gyeongnam Bank, a bribery incident occurred at Busan Bank, and the management ability of the chairman of BNK Financial Group, a poor person, was weakened. There are voices of concern. There is interest in whether 'Bindae In-ho', who has had an eventful first year in office, will be able to resolve internal control issues and lead to a rebound in performance next year.
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