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Finance

Woori Bank to provide 2 trillion won financial support for Hyosung Group\'s advanced strategic industries

Woori Bank will provide financial support worth 2 trillion won to help Hyosung Group expand investment in advanced strategic industries. The bank said it signed an agreement with Hyosung Group on June 15 at the group’s headquarters in Seoul. The two sides set a total financing limit of 2 trillion won over the next five years and agreed to cooperate on expanding investment. The pact includes a pre-set credit limit structure.

Industry

Semiconductors, defense, shipbuilding and power equipment to drive South Korean exports in second half

Semiconductors, defense, shipbuilding and power equipment are expected to lead South Korea\'s exports in the second half, with simultaneous strength across the four sectors seen absorbing external shocks despite prolonged Middle East tensions and a surge in Strait of Hormuz shipping rates. The Bank of Korea raised its growth outlook and lifted its inflation forecast, citing strong first-quarter growth and an extended semiconductor cycle. Officials also pointed to broader export gains across industries.

AI & Enterprise

KB Kookmin Bank joins Hyosung Heavy Industries to finance HVDC and data centres

KB Kookmin Bank is teaming up with Hyosung Heavy Industries to support future energy infrastructure projects such as high-voltage direct current (HVDC) transmission and data centres. The bank said on May 28 it signed a memorandum of understanding with Hyosung Heavy Industries to strengthen competitiveness in the energy industry. Under the agreement, the bank will provide financial support for Hyosung’s HVDC large-capacity technology development and related projects.