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Finance

NH Investment Securities posts record Q2 results; H1 net profit nears 1 trillion won

NH Investment Securities said on Wednesday its second-quarter operating profit rose 111.6 percent from a year earlier to 681.2 billion won, while net profit climbed 90.5 percent to 489.4 billion won, both quarterly records. First-half operating profit reached 1.32 trillion won and net profit was 965.1 billion won, the highest for any first half. The company cited higher brokerage income and balanced growth across product sales, investment banking and operations.

Finance

Lee orders financial watchdog to check loan loophole despite curbs on expensive home borrowing

South Korean President Lee Jae-myung (이재명) said restrictions on borrowing to buy expensive homes could be sidestepped if those homes are later used as collateral for business loans. He asked financial authorities to review possible system fixes and questioned the level and effectiveness of a proposed macroprudential levy on loans tied to high-priced homes. Financial Services Commission Chairman Lee Eok-won said authorities have checks to prevent misuse of business loans and would tighten oversight.

People

KAIST alumnus Lee Beom-gyu of TeamSparta donates 100 million won to support junior researchers

TeamSparta CEO Lee Beom-gyu (이범규), a KAIST alumnus, donated 100 million won to the university to support master’s and doctoral researchers using generative AI agents, KAIST said on Wednesday. The donation will fund a research support programme run by the School of Computing for about 2 years. The programme will operate in 6-month cohorts, selecting 20 researchers each time, with the first cohort to be chosen within this year.