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Industry

SK hynix posts 19.2 trillion won Q4 operating profit, up 137 percent on year

SK hynix said it posted fourth-quarter revenue of 32.8 trillion won and operating profit of 19.2 trillion won, up 34 percent and 68 percent from the previous quarter, with an operating margin of 58 percent. Full-year revenue was 97.1 trillion won and operating profit 47.2 trillion won. The company outlined plans to expand HBM and AI memory offerings, boost production capacity and return 2.1 trillion won to shareholders.

Crypto

Can Democrats file digital assets framework act before Lunar New Year as dispute persists over 51 percent rule, stake cap

South Korea's Democratic Party digital assets task force plans to submit a Digital Assets Framework Act before the Lunar New Year holiday, but key disputes with government authorities remain, including requiring banks to hold at least 51 percent of a won stablecoin issuance consortium and limiting major shareholders’ stakes in exchanges to 10 to 15 percent. Party members also differ internally. Lawmakers and industry cite legal contradictions and concerns about property rights and management control.

Finance

Shinhan Bank to issue 25 billion won Ddaenggyeoyo vouchers with Seoul

Shinhan Bank said on Jan. 28 it will issue 25 billion won of Ddaenggyeoyo vouchers with the Seoul city government to help boost sales at small merchants and reduce residents’ dining-out costs. The vouchers will be available from 10 a.m. on Feb. 3 in 22 districts and can be used only on Seoul’s public delivery app Ddaenggyeoyo, with a 15 percent discount. Additional coupons and a 5 percent payback apply under certain conditions.