Industry

SK Innovation to absorb SKIET in merger to block battery business risks

SK Innovation will absorb battery separator subsidiary SKIET through a small-scale merger after SKIET posted a 211.4 billion won net loss last year. The company said unstable finances at the disappearing company could disrupt separator supply and lead to production disruptions at battery unit SK On. The merger ratio is 1 to 0.1174540, and new shares to be issued total 4,481,300. The merger date is Jan. 1, 2027.

Crypto

White House engages industry as Clarity Act wavers and crypto market splits

The dominant theme in digital assets over the past week was the U.S. Digital Asset Market Structure Act, known as the Clarity Act. As the bill stalls, the White House and regulators expanded direct contacts with the industry. In South Korea, a revised anti-money laundering law takes effect on Aug. 20, tightening entry requirements. Markets also tracked bitcoin’s range near $63,000, sharp debate over its outlook, XRP weakness and growing won stablecoin proof-of-concept activity.