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Finance

Woori Bank selects 45 mid-sized firms in semiconductors, bio and AX for 548 billion won support

Woori Bank will provide about 548 billion won in financial support after selecting 45 mid-sized companies in advanced industries such as semiconductors, bio and AX together with the Ministry of Trade, Industry and Energy. The bank said it made the final selection for the eighth intake of its Rising Leaders 300 program. Selected firms can receive loans of up to 30 billion won each and interest-rate benefits of up to 1.0 percentage point in the first year.

Industry

Semiconductor export boom swells Korea budget, setting up September parliamentary clash

South Korea’s government budget for 2027 is set to rise sharply as a semiconductor export boom lifts tax revenue, raising the stakes for a September parliamentary session over how to allocate funds. The plan boosts spending to 820.9 trillion won and lifts revenue to 880.8 trillion won, led by a jump in national tax receipts. Funding for semiconductor and AI initiatives rises, including a new semiconductor special account, while debates centre on tax credits, infrastructure support and an exception to the 52-hour workweek cap.

AI & Enterprise

NC AI to work with LG Electronics on national project for autonomous humanoid

Physical AI specialist NC AI said on Wednesday it formed a consortium with LG Electronics and was selected to carry out the humanoid segment of the \"K-on-device AI semiconductor technology development project\" led by the industry ministry and KEIT. The project aims to develop autonomous humanoid technology using domestically made on-device AI semiconductors. NC AI will develop a human-to-robot retargeting pipeline and build motion data for training.