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Telecommunications & Media

LG Uplus expands AlDot plans bundling FacePay, draws interest from people in their 20s and 30s

LG Uplus is expanding promotions for lifestyle-focused partner mobile plans with Toss Mobile. The company said it is selling five Toss Mobile budget mobile plans on its AlDot platform that combine benefits tied to the FacePay facial-recognition payment service. Among subscribers to the FacePay-linked plans launched on Aug. 3, people in their 20s and 30s accounted for 56 percent. Plans are offered at 8,000 to 16,000 won a month for seven months, with coupons provided for up to 24 months.

Finance

Hana Bank to expand financial support in Incheon, launch 200 billion won unicorn fund

Hana Bank will expand financial support for young people, low-income groups and small merchants in the Incheon area and increase funding to foster future strategic industries and startups. The bank said it signed three agreements with Incheon on Aug. 14, including a co-growth pact, support for ABC+E sectors and an investment accord for an Incheon Unicorn Fund. The fund will be set up at 200 billion won to invest in local startups and growth firms.

Finance

Finance sector on edge as talk grows of relocating key financial institutions from Seoul

South Korea\'s finance sector is on edge amid speculation the government is close to announcing a second plan to relocate public institutions outside Seoul. Korea Development Bank, IBK Industrial Bank of Korea and Export-Import Bank of Korea are being mentioned, along with the Financial Services Commission and Financial Supervisory Service. The government has not officially confirmed targets or regions. Labour groups are escalating opposition, with unions planning a general strike and rallies to block any relocation.