trending Market Intelligence /marketintelligence/en/news-insights/trending/McBnDC_iNt4M0FL-Rlw-OQ2 content esgSubNav
In This List

Report: Hyundai Marine & Fire Insurance drops out of online bank consortium

Podcast

Next in Tech | Episode 101 Data on Datacenters

Podcast

Maritime and Trade Talk | EP1: Part 1 - The Basics Of AIS

Podcast

Maritime and Trade Talk | EP9: The Impact of Russia's Invasion of Ukraine A Trade Finance Compliance Perspective II

Podcast

Maritime and Trade Talk | EP3: Sanctions Advisories for the Maritime Industry


Report: Hyundai Marine & Fire Insurance drops out of online bank consortium

Hyundai Marine & Fire Insurance Co. Ltd. has decided to leave a South Korean digital-only bank consortium led by Viva Republica Co Ltd., operator of the Toss mobile peer-to-peer payment platform, following Shinhan Financial Group Co. Ltd.'s departure, The Korea Economic Daily reported March 21, citing industry sources.

Disagreements over the would-be Internet bank's business model and management composition was cited as a reason for the insurer's exit from the consortium, according to the report.

The Toss Bank consortium's chances of obtaining an internet bank license has dimmed with the departure of two major participants, the publication said.