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People

KAIST names mechanical engineering professor Bae Choong-sik as 18th president

KAIST has appointed mechanical engineering professor Bae Choong-sik (배충식) as its next president. The university’s board made the decision at an extraordinary meeting on June 29 at KAIST’s Kim Jaechul AI Graduate School campus in Yangjae-dong, Seoul. Bae has worked in eco-friendly energy and carbon-neutral power engineering and has held several senior roles at KAIST. His appointment is subject to required ministerial consent and approval.

Finance

Shinhan Financial joins 117 billion won fund for green port transition infrastructure

Shinhan Financial Group is joining South Korea’s first blind fund for port logistics infrastructure, set up by the Korea Ocean Business Corp with a target size of 223 billion won. Shinhan Financial said on Sunday it held a fund commitment ceremony with the agency and agreed that its Shinhan Asset Management would form and manage a 117 billion won portion. The fund will invest in infrastructure to shift port energy to cleaner sources.

Industry

Samsung Electronics to supply heating and cooling solutions to 370-building complex in Poland

Samsung Electronics will supply heat pump solutions to a large residential complex being built across four cities in Poland, the company said on Monday. The project, led by Polish energy supplier Ekopark, covers about 250,000 pyeong of land and includes 370 multi-family housing buildings in Bialystok, Przeworsk, Naklo and Bielsk Podlaski. Samsung will provide DVM S2 outdoor units, DVM Hydro Unit indoor units and SmartThings Pro for remote integrated management.