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Finance

Woori Bank to extend usance to remittance import trades, with payment deferred up to 1 year

Woori Bank will expand the use of usance, commonly used in letter-of-credit transactions, to import trades conducted via remittances. Under the arrangement, the bank pays overseas exporters first and importers repay the bank after an agreed period, with repayment deferred by up to 1 year. The bank also signed a main-banking agreement with the Korea Packaging Material Recycling Business Mutual Aid Cooperative to strengthen support for member companies over the next three years.

AI & Enterprise

KT, NIA to expand AICE globally to bolster AI capabilities in developing countries

KT said on Monday it signed a business agreement with the National Information Society Agency (NIA) to support AI-based inclusive digital transformation and strengthen global capabilities. NIA has used KT’s AICE AI competency test since 2024 to improve staff skills. The two will expand overseas AI education and certification cooperation, link AICE with international programmes such as information access centres and IT volunteer groups, and run pilot AICE Basic training and tests in three countries in the second half.

Telecommunications & Media

LG HelloVision to train \'Local Editor Crew\' of university students to produce regional content

LG HelloVision said on Sunday it signed MOUs with the Seoul and Busan Media Centers and with Dongguk University and Dongseo University to train a youth video creator group called the \"Local Editor Crew\". The partners will cooperate on producing and spreading regional content from a youth perspective and on industry-academia cooperation linking human and material resources. LG HelloVision will operate the crew with about 50 students, publish content on its regional channel and Instagram, and provide mentoring and scholarships.