Major fintech firms posted strong first-half results as growth in payments and financial services lifted revenue and profit, with overseas payments and new businesses also expanding. Payment companies are widening links into daily life through merchants, local currencies and transport, while firms bundle payments with other services. As businesses grow, demands for soundness management rise. Separately, there are signs of partial adjustments to loan regulations, while bank lending volume controls continue.

Woori Bank will provide financial support for the Jeonbuk Gochang offshore wind power project, a 400 billion won development. The bank said it signed an agreement with Jeonbuk Special Self-Governing Province, Gochang County, the National Credit Union Federation of Korea and others to promote regional industry using “productive finance” support. The 76.2-megawatt facility will be built and operated off Gochang, with power to be supplied to strategic industries in the province.