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Search results for Jeonbuk Innovation City

Finance

Race to pre-empt won stablecoin as third financial hub nears

South Korea\'s financial authorities raised their target for household loan growth this year and NH Nonghyup Bank resumed variable-rate mortgage lending, drawing attention to whether mortgage hurdles will fall across the sector. COFIX rose for a fourth month, increasing borrowers\' interest burdens. Financial support for mid-to-low credit borrowers and small businesses is spreading, while the government and regulators advance plans tied to regional finance hubs and debate over a won stablecoin shifts toward payment, distribution and custody infrastructure.

Finance

Jeonbuk financial hub bid enters evaluation phase as financial groups build bases

Discussions on designating Jeonbuk as South Korea’s third financial hub have entered a full evaluation stage. The Financial Services Commission has finalised an evaluation plan and will conduct document reviews and on-site inspections in the third and fourth quarters before deciding within the year whether to grant the designation. As the National Pension Service anchors Jeonbuk Innovation City, four major financial holding groups have also moved to build asset management and capital market bases there.

Finance

Woori Bank to support Jeonbuk Gochang offshore wind project with productive finance

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.