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Finance

IBK Industrial Bank of Korea launches 1 trillion won inclusive loan for mid-to-low credit borrowers

IBK Industrial Bank of Korea has launched a 1 trillion won personal credit loan programme to reduce financing costs and repayment burdens for mid-to-low credit borrowers. The product, called IBK Good Rate Inclusive Loan, targets customers in the bottom 50 percent of personal credit scores. It applies a single annual interest rate of 4.9 percent without complex preferential conditions. Customers aged 34 and under can borrow at 4.7 percent.

Finance

Samsung Electronics re-enters $1 trillion market cap club as KOSPI market value recovers to 5,000 trillion won

Samsung Electronics re-entered the $1 trillion market capitalisation club after surging more than 20 percent intraday. SK Hynix also climbed close to its daily limit, helping the total market value of South Korea’s main board recover above 5,000 trillion won for the first time in four sessions. As of 10:22 a.m., Samsung Electronics was valued at $1.188 trillion and SK Hynix at $846.9 billion.

Finance

NH Nonghyup Financial to push regional close-to-home finance project in second half

NH Nonghyup Financial Group will promote a “regional close-to-home finance project” as a key task in the second half of the year. It plans to expand investment and lending to region-specific industries and companies and focus group capabilities on easing the financial burden of vulnerable groups and delinquent debtors. The group reviewed second-half plans at a special committee meeting in Seoul and said it supplied a total of 14 trillion won in productive and inclusive finance in the first half.