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Finance

Shinhan Bank launches escrow service for foreign direct investment

Shinhan Bank has launched an escrow service dedicated to foreign direct investment to strengthen transaction safety between foreign investors and domestic investee companies. Under the service, after an FDI report and once investment funds arrive, the bank keeps the money in a separate account and releases it only after procedures such as contractual conditions precedent are completed. The bank will waive all escrow service fees for early users and provide professional consultations linked to external law firms.

Finance

Can Homeplus be rehabilitated? Meritz and MBK escalate clash over responsibility for returns

A dispute between Homeplus\' controlling shareholder MBK Partners and its largest creditor, Meritz Financial Group, is intensifying over responsibility for funding emergency operating money needed for rehabilitation. The Seoul Rehabilitation Court has asked Homeplus to submit a 200 billion won financing plan by June 30, ahead of a July 3 deadline to approve the rehabilitation plan. Prosecutors’ investigation into alleged concealment tied to short-term securities issuance is also emerging as a variable.

Crypto

XRP burn theory dampened: 720,913 years to cut supply to 500 million?

At the current burn pace, it would take about 720,913 years to reduce XRP’s total supply to 500 million tokens, an analysis showed. The XRP Ledger burns an average 373 XRP a day, or about 138,000 a year. With total supply at 99.98 billion and circulating supply at 67.22 billion, cutting circulation to 500 million would take about 483,478 years. The burn mechanism is designed mainly to prevent network spam, not to create scarcity.