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Finance

Mirae Asset Securities posts 1.0019 trillion won Q1 net profit, first in brokerage industry to top 1 trillion

Mirae Asset Securities said on Monday its first-quarter net profit rose 288 percent from a year earlier to 1.0019 trillion won, the first time a South Korean brokerage has posted quarterly net profit above 1 trillion won. Operating profit rose to 1.375 trillion won. The firm cited growth in wealth management and pensions, improved results at overseas units and gains from proprietary investment. Total client assets stood at 660 trillion won at end-March.

Finance

KB Asset Management lists Hyundai Motor Group physical AI investment ETF

KB Asset Management will list the RISE Hyundai Motor Fixed Physical AI ETF on May 12. The fund invests in key Hyundai Motor Group affiliates and partner companies expected to benefit from the group’s shift to robotics and artificial intelligence. Its benchmark is the KEDI Hyundai Motor Fixed Physical AI Index, which holds Hyundai Motor at a fixed 25 percent and invests in 14 stocks with high similarity to areas such as autonomous driving, robotics and factory automation.

Industry

LG Electronics runs clean water and laundry support campaign in Nigeria

LG Electronics said on Tuesday it carried out a social contribution campaign in Nigeria to support residents in underdeveloped areas with free laundry services and drinking water facilities. The campaign took place in two locations, the Aba area of Abia state and the Owerri area of Imo state. LG Electronics installed drinking water facilities that drill and filter groundwater using solar energy and operated a mobile free laundry room equipped with washers, dryers and laundry supplies.