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Finance

South Korea raises household loan growth target to 3 percent, expands housing supply finance to 47.8 trillion won plus alpha

South Korea's financial authorities will raise this year's target for the growth rate of total household loans to around 3 percent from 1.5 percent. They will expand financial support for housing supply to 47.8 trillion won plus alpha from 26.3 trillion won. The authorities will keep the basic framework of real estate lending curbs, including LTV and DSR limits, while tightening some rules on jeonse loans from January.

Industry

BYD launches Seal 06 in China, Model 3-sized at half the price with 5-minute charging

BYD has launched the new Seal 06 electric sedan in China, a Model 3-sized car priced at about half of Tesla’s entry-level Model 3. It is offered as a battery electric vehicle and a plug-in hybrid across 12 trims. BYD says its fast-charging technology can charge the battery from 10 percent to 70 percent in 5 minutes. The car also offers a lidar-based driver assistance system and navigation-assisted driving.

AI & Enterprise

Executives' delusion about owning AI

A recent export-control move by an overseas government that shut off a top-tier AI model within hours has refocused attention on whether companies truly own the AI they rely on. Many firms depend on external suppliers for key AI capabilities and may face risks if services are restricted, prices rise or products change. Surveys cited in the article show many CEOs say they lead AI strategy but few control key decisions, while pressure for measurable AI results is rising.