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Industry

South Korea to create 2.6 trillion won special account for semiconductor support in 2027

South Korea will create a special account in 2027 to manage semiconductor support spending as a separate funding pool, with a total size of 2.6 trillion won. The Ministry of Trade, Industry and Energy will oversee 2.1 trillion won of that amount. The ministry proposed a record 2027 budget of 13.26 trillion won, up 40.5 percent from 2026, and said non-R&D spending drove the increase. It also set new spending for AI data centres.

Finance

Shinhan Financial marks 25th anniversary; Jin Ok-dong calls for stronger trust, business competitiveness

Shinhan Financial Group held a ceremony on Tuesday to mark its 25th anniversary and presented “trust” and “business competitiveness” as key values for sustainable growth. Chairman Jin Ok-dong delivered a special lecture to employees and reviewed the group’s growth over the past 25 years. He said financial companies are ultimately judged by customer trust and that in the AI era trust could extend to AI agents. He also stressed the importance of internal controls.

Industry

Samsung Electro-Mechanics signs 772 million MLCC supply deal with global company

Samsung Electro-Mechanics said on Tuesday it signed a supply contract with a major global company for multilayer ceramic capacitors (MLCCs) used in artificial intelligence servers. The deal is worth about 1.0722 trillion won, or $772 million, and runs from Jan. 1 to Dec. 31, 2027. The company said it was its largest long-term MLCC supply contract to date and cited recognition of its design technology, product reliability and production and quality management capabilities.