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Finance

Mitos puts financial security to the test as network separation easing begins

Single-stock leveraged ETFs and ETNs tied to Samsung Electronics and SK Hynix sharpened semiconductor concentration in South Korea\'s stock market, with first-day turnover topping 10 trillion won. Regulators warned investors about amplified losses. Financial firms also stepped up responses to AI-driven cyber threats as the emergence of high-performance AI \"Mitos\" raised concerns about more sophisticated hacking, prompting authorities to review easing and possible full removal of network separation rules.

Finance

KBank\'s My Kids tops 10,000 accounts in two weeks; 86 percent choose five-year term

KBank said its minors-only financial service My Kids (account and savings) topped 10,000 cumulative sign-ups in two weeks after its May 13 launch. The My Kids savings product allows one- to five-year terms in one-year increments, and 86 percent of savers chose the longest, five-year maturity. The company said it offers a preferential rate without complex conditions and is running promotions through June 5.

Finance

Kbank starts national treasury disbursement service, enabling tax refunds to be paid into accounts

Kbank said on May 11 it has started a government refund receipt service after receiving approval from the Bank of Korea to handle national treasury disbursements. Customers will be able to receive various national treasury payments into Kbank accounts, including income and value-added tax refunds, earned income and child tax credits, and government project and payroll funds. The bank is also running promotional events tied to the launch, including prizes and new-account benefits.