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Industry

Samsung Electronics develops industry's first UFS 5.0, mass production in fourth quarter

Samsung Electronics said on Monday it has developed the industry's first UFS 5.0, the latest embedded memory standard from JEDEC, as on-device AI boosts demand for faster storage. The product is based on the company’s ninth-generation V-NAND and supports sequential read speeds of 10.8 GB/s and write speeds of 9.5 GB/s, about double UFS 4.1. Samsung said power efficiency improves by more than 40 percent and mass production will start in the fourth quarter.

Finance

Shinhan Bank to cap loan rates for mid-to-low credit borrowers at 6.9 percent

Shinhan Bank will offer mid-rate loans to mid-to-low credit borrowers with an annual interest rate cap of 6.9 percent. It will lower financing costs and ease borrowing hurdles by refining screening criteria, improving repayment terms for Saehopeum Holssi, and launching a Super SOL-exclusive mid-rate loan. The bank said the measures are part of Shinhan Financial Group’s Inclusive Finance 2.0 ON project and include new products planned for August.