Finance

Hana Bank to expand financial support in Incheon, launch 200 billion won unicorn fund

Hana Bank will expand financial support for young people, low-income groups and small merchants in the Incheon area and increase funding to foster future strategic industries and startups. The bank said it signed three agreements with Incheon on Aug. 14, including a co-growth pact, support for ABC+E sectors and an investment accord for an Incheon Unicorn Fund. The fund will be set up at 200 billion won to invest in local startups and growth firms.

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.