Shinhan Bank and Technology Guarantee Fund to Support SMEs with $438 Million for Succession and M&A
Shinhan Bank is partnering with the Technology Guarantee Fund to provide financial support for small and medium enterprises (SMEs) pursuing business succession and mergers and acquisitions (M&A). On August 31, Shinhan Bank announced that it has signed a memorandum of understanding for M&A financial support aimed at promoting business succession and technological innovation with the Technology Guarantee Fund. Under the agreement, Shinhan Bank will contribute a special fund of 1 billion won and a
Korea Disease Control Agency Evaluates Infection Testing Capabilities at 17 Health Research Institutes
The Korea Disease Control Agency (KDCA) announced on August 31 that it will conduct a pilot evaluation of the "Laboratory Testing Capability Assessment for Public Infectious Disease Pathogen Confirmation" at 17 health and environmental research institutes across the country to enhance the reliability of public infectious disease testing. These health and environmental research institutes serve as local testing agencies to quickly address the demand for infectious disease testing, handling over 1
Securities Industry to Invest 1 Trillion Won in Venture Secondary Market Over Three Years
The Financial Investment Association and the securities industry plan to invest approximately 1 trillion won in the venture secondary market over the next three years to stimulate the venture recovery market and establish a virtuous cycle for venture capital.On August 31, the Financial Investment Association announced that it would pursue a plan for a 1 trillion won venture secondary investment in collaboration with the securities industry.This investment will be conducted through a 'two-track'
BYD's Growth Slows as Revenue and Profit Decline
China's largest electric vehicle manufacturer, BYD, reported a decline in both revenue and net profit for the first half of the year. This marks the first time since 2020 that BYD has experienced simultaneous decreases in these metrics.BYD announced that its revenue for the first half of the year was 344.8 billion yuan (approximately 70.69 trillion won), a decrease of 7.13% compared to the same period last year. Net profit fell to 12.325 billion yuan (25.3 trillion won), down 20.54%. The drop in
People Power Party Criticizes President Yoon's Cabinet Reshuffle as a Move to Cancel Trials
국민의힘은 31일 이재명 대통령이 6개 부처의 장관을 교체하는 중폭 개각을 시행한 것과 관련해 "국민의 뜻과 정반대로 가는 재판 취소용 개각"이라며 인사청문회에서의 철저한 검증을 예고했다. 장동혁 대표는 이날 국회에서 열린 최고위원회의에서 "어제 이 대통령의 기습 개각이 있었다. 국민의 뜻과 정반대로 가는 민심 역주행 개각"이라며 이같이 말했다. 장 대표는 법무부 장관으로 내정된 김승원 더불어민주당 의원에 대해 "공소 취소, 특검법 배임죄 삭제를 주도하고 있는 인물"이라며 "결국 국민이 아무리 반대해도 재판 취소
Korea Securities Depository Releases Guide for Foreign Investors on Government Bonds
한국예탁결제원이 세계국채지수(WGBI) 편입에 따른 외국인 투자자의 한국 국채 활용 확대에 대비해 국채 투자와 담보 활용 절차 등을 담은 가이드를 발간했다. 한국예탁결제원은 31일 외국인 투자자의 한국 국채에 대한 이해를 높이고 국채 담보 활용을 활성화하기 위한 '외국인 투자자 국채 활용 가이드'를 국·영문으로 발간했다고 밝혔다. 이번 가이드는 지난 4월부터 한국 국채가 WGBI에 편입되면서 외국인 투자자의 국내 국채 투자가 확대되고, 보유 국채를 담보로 활용하려는 수요도 늘어날 것으로 예상되는 데 따라 마련됐다. WG
Hyundai Motor Group Appoints Hong Eun-hee as Head of HMG Energy and Hydrogen Division
Hyundai Motor Group announced on August 31 that it has appointed Hong Eun-hee as the new head of HMG Energy and Hydrogen Division to enhance its competitiveness in future energy businesses and strengthen its global leadership in hydrogen.Hong, who previously worked at BP for 18 years after stints at P&G Korea and the Korea Export-Import Bank, has been responsible for business development, strategy formulation, and implementation across various energy sectors, including oil, LNG, hydrogen, and am
Korea Zinc Shares Plunge 8% Amid Intensifying Management Dispute
Korea Zinc, embroiled in a management dispute with its largest shareholders, Youngpoong and MBK Partners consortium, saw its shares drop by 8% during trading. The conflict is intensifying ahead of an extraordinary general meeting next month, where both sides are battling over the appointment of an audit committee member.As of 10:17 a.m. on August 31, Korea Zinc's shares were trading at 1,265,000 won, down 110,000 won (8.00%) from the previous trading day, according to the Korea Exchange.The two
July Industrial Production Stagnates Amid Declines in Consumption and Construction
Industrial production in July remained flat compared to the previous month. Consumption fell by over 2%, and construction investment also decreased. In contrast, facility investment rose by 7.5%, driven by increased spending on semiconductor manufacturing equipment and transportation equipment such as aircraft and ships.According to the 'July Industrial Activity Trends' report released by the national data agency on August 31, total industrial production in July was 120.2 (2020=100), showing no
Apple Transitions to New CEO John Ternus Amid Challenges
Apple will conclude the Tim Cook era on September 1, transitioning to the leadership of John Ternus as the new CEO. Ternus faces numerous challenges, including enhancing artificial intelligence (AI) capabilities, developing next-generation products, securing AI talent, and addressing changes in labor conditions at its largest production base in China.Bloomberg reported on August 30 that Ternus's top priority will be to strengthen Apple's AI competitiveness. Apple has been criticized for lagging