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Finance

Korean financial groups post third-quarter results as stock market outlook hits zero visibility

Korean financial holding firms and banks continued to release third-quarter results, with Woori Bank posting its biggest quarterly net profit on record and Hana Financial Group lifting year-to-date profit on higher fee income. Brokerages faced weakening profitability as trading value fell and market rates rose, adding valuation loss pressure in trading. The Bank of Korea held its policy rate at 3.00 percent, while competition in retirement pensions and expanded support for small firms continued.

Crypto

BitGo launches innovation unit BitGo Labs, to focus first on combining AI and crypto

BitGo has launched a research and innovation unit called BitGo Labs, The Block reported on Tuesday. BitGo Labs will design, launch and validate next-generation services with potential in the crypto sector, focusing first on combining AI and cryptocurrencies. BitGo said the AI economy needs crypto financial infrastructure for micro-payments, instant settlement and asset protection. It also plans to publish research and build protocol prototypes.

AI & Enterprise

NH Nonghyup Bank to introduce AI financial secretary in December to support wealth management and jeonse loans

NH Nonghyup Bank is starting development of an AI financial secretary and plans to introduce the service on its mobile banking platform in December, then expand it to face-to-face consultations at branches next year. The bank said it held a project kickoff briefing with its AI-focused subsidiary AgileSoda to build a customer-facing AI agent. Planned functions include wealth management, jeonse loan support and consumer protection information.