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Finance

Shinhan Financial to write off 500 billion won in delinquent debt, expand inclusive finance to 4.5 trillion won

Shinhan Financial Group plans an inclusive finance project worth 5 trillion won, including the write-off of 500 billion won in long-term delinquent debt to support vulnerable borrowers\' recovery. It will also expand inclusive financing for low-income people and small businesses to 4.5 trillion won by bringing forward next year\'s plan. Shinhan will restrict extensions of statutes of limitation on debt and broaden products and credit assessment models to support mid-to-low credit borrowers.

Industry

Baemin Bmart direct purchases of domestic farm products up 53 percent in Jan-May, to expand this year

Baemin’s quick commerce platform is expanding its role as a sales channel for regional farms, Woowa Brothers said. Sales of domestically sourced farm and livestock products bought directly from producing areas through Baemin Bmart rose 53 percent in January to May from a year earlier, outpacing last year’s full-year growth rate of 21 percent. Fruit sales led gains, with strong increases for strawberries, melons, watermelons and blueberries.

Mobility

Tesla \'Model 3 Plaid\' vs Ferrari \'Luce\' sets up high-performance EV showdown

Tesla’s growth plans are again in focus as speculation rises about a high-performance Model 3 Plaid and Elon Musk mentions merger talks with SpaceX. Debate continues over Tesla’s FSD after a lawsuit refund and questions about safety, even as the latest v14 is seen as improved. Waymo’s lead in robotaxis is highlighted. China’s EV market expands rapidly, led by BYD and others. In Korea, autonomous driving and mobility services advance. Ferrari’s first full EV, the Luce, faces design backlash.