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Industry

Hanwha to cooperate with Canada on steel, AI and space

Hanwha Group said on Tuesday it signed MOUs with five Canadian companies in steel, AI and space to support its bid for Canada’s next-generation submarine project. Hanwha Ocean and Hanwha Systems signed the agreements at a Korea-Canada industry cooperation forum in Toronto. Hanwha Ocean will work with Algoma Steel on a local steel plant and submarine construction and maintenance infrastructure, contributing about C$345 million. KPMG forecast job creation if the plan is implemented.

Finance

Korea Investment Management's ACE KRX Physical Gold ETF net assets top 4.5 trillion won

Korea Investment Management said on Monday that net assets of its ACE KRX Physical Gold ETF, the country’s first physically backed gold exchange-traded fund, have surpassed 4.5 trillion won. Based on the Jan. 26 close, assets stood at 4.65 trillion won, rising more than 600 billion won in 10 trading sessions since passing 4 trillion won on Jan. 12, amid steady retail inflows.

Finance

K Bank sees sixfold rise in ATM usage after expansion

K Bank said on Monday that usage of its cash machines rose sixfold about a year after it expanded the number of ATMs it operates from 5 locations to 45. It said it is the only internet bank in South Korea to run its own ATMs. Customers can make deposits, withdrawals and transfers fee-free up to 30 times a month at any ATM nationwide, and without limits at its branded machines.