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AI & Enterprise

Finda wins approval to buy 60% stake in Daewon Savings Bank, first fintech entry into savings bank sector

Finda, a fintech company, is entering the savings bank business through the acquisition of Daewon Savings Bank. The company said it won approval from South Korea\'s Financial Services Commission on Oct. 21 for a change of major shareholder. The deal totals 12 billion won, with Finda taking a 60% stake and Jeonbuk Bank holding 40%. Finda plans to develop its own financial products and build an AI-native banking system.

Telecommunications & Media

South Korea science ministry pushes to expand subway 5G Wi-Fi, checks progress in Incheon

South Korea\'s Ministry of Science and ICT checked the results of upgrading 5G-based Wi-Fi services on Incheon Subway lines 1 and 2, where all three mobile carriers have launched the service. The ministry held an event on Oct. 21 to experience communication quality on Incheon Subway Line 2 between Unyeon Station and Incheon City Hall Station. Participants used web browsing, social media and video services on board and reported faster response times and smooth high-definition streaming even with many users connected.

AI & Enterprise

Elice shares whipsaw after listing, focus on differentiation from CoreWeave

Elice Group shares fell on their first day on the KOSDAQ then rebounded to the daily limit the next day, the Korea Exchange said. The company says it maintains a high operating profit margin by building infrastructure only after confirming customer demand. Its first-half revenue was 34.4 billion won and operating profit 10.3 billion won, with AI cloud accounting for most sales. Attention has also focused on financial strain at CoreWeave amid heavy borrowing and investment.