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Games & Commerce

KOCCA to support AI transition in game production environments with up to 50 million won

The Korea Creative Content Agency will work with industry groups to support an artificial intelligence transition in South Korea's game industry by subsidising tool subscription fees. The Culture Ministry and KOCCA signed agreements with four associations to run the programme. Applications will be accepted from May 18 to 27. Support ranges by company size, topping out at 50 million won. Selected firms can receive 100 percent support for domestic tools and 90 percent for overseas tools.

Finance

Woori Financial steps up support for youth, middle-to-low credit borrowers with inclusive finance platform launch

Woori Financial Group is expanding financial support for young people and middle-to-low credit borrowers by increasing the supply of policy loans and rolling out new products. It reviewed inclusive finance results and future tasks at a May meeting in Seoul. Woori Bank supplied 218.6 billion won in Saehopeum Holssi loans in the first quarter and provided interest relief and waivers. The group plans to launch a loan-switching product and an inclusive finance platform, while widening regional microfinance support.

AI & Enterprise

InoAX posts 7.14 billion won in Q1 consolidated revenue, up 24.5 percent

AI transformation specialist InoAX said on May 18 its first-quarter consolidated revenue rose 24.5 percent from a year earlier to 7.14 billion won. Operating profit was 460 million won and net profit was 620 million won, maintaining profitability. The company said growth was driven by the consolidation of enterprise software firm SJ Link as a subsidiary and higher standalone revenue. It also reported a 16.08 billion won order backlog at end-March.