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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.

Industry

South Korea to add 230,000-plus homes in capital region, to announce 100,000 new sites this year

South Korea plans to add 230,000-plus homes in the Seoul capital region by speeding up public land development, raising the pace of redevelopment and urban housing projects, and expanding non-apartment supply and public sale and rental housing. The government will cut the time from announcing candidate public sites to starting construction and will announce 100,000 homes in new public housing districts this year. It also plans to ease rules for redevelopment and provide new public rental and lease-support programs for young people.

AI & Enterprise

Public-private AI DC Alliance launched to push national strategic industry drive

South Korea launched a public-private \"AI DC Alliance\" on Tuesday to foster AI data centres as a national strategic industry. The science ministry said about 400 people from government, industry, academia and research attended the launch in Seoul. The alliance will pursue a strategy announced in June, including building 18.4GW of large-scale AI data centres, strengthening local solutions and equipment, improving power and cooling efficiency, and supporting overseas expansion.