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General News

Financial union says delayed relocation plan not the end, presses for 4.5-day week and pay rise

South Korea\'s National Union of Financial Industry said it will launch a general strike on Sept. 4, demanding the introduction of a 4.5-day workweek and moves to block the relocation of financial institutions outside the capital. The union said it would keep fighting until discussions on relocation are fully halted, even if the government delays its announcement. It also called for wage increases, expanded youth hiring, and improvements to retirement and wage-peak systems.

Finance

Bank of Korea raises policy rate to 3.00 percent by 25 basis points on inflation, housing price risks

The Bank of Korea raised its policy interest rate by 25 basis points to 3.00 percent from 2.75 percent, citing stronger-than-expected growth supported by solid exports and a recovery in domestic demand. It said inflation pressures continue and financial imbalance risks have risen, including Seoul-area home prices and household debt. The central bank lifted its growth forecasts and kept open the possibility of further rate hikes.

Crypto

Mastercard to sponsor XRP Ledger hackathon in October in latest Ripple collaboration

Mastercard will join as a sponsor of an XRP Ledger (XRPL) hackathon to be held in New York in October, extending a year-long expansion of cooperation with Ripple. The 36-hour event will run on Oct. 24 to 25 and is scheduled just ahead of Ripple’s annual Swell conference. The hackathon will feature four tracks, including protocol innovation and agentic finance, and will also allow existing teams to join by adding XRPL features.