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Finance

IBK Industrial Bank of Korea first-half net profit 1.44 trillion won, down 4.4 percent

IBK Industrial Bank of Korea posted first-half consolidated net profit of 1.44 trillion won, down 4.4 percent from a year earlier, the bank said. Market share in SME finance rose to a record 24.6 percent as SME loans increased to 270 trillion won. The bank cited larger foreign-exchange valuation losses and higher loan-loss provisions as factors behind the profit decline. It will pay its first quarterly dividend.

Mobility

China and Thailand lead EV war as Japan and U.S. lag, analysis says

China and Thailand are moving ahead in reshaping the global auto industry by using domestic electric vehicle rollout policies to build export competitiveness, an analysis said. The key is the pace of electrification at home rather than export results alone. China’s plans target a sharp rise in new energy vehicles on its roads, supporting scale, learning effects and supply chains. Thailand is adjusting incentives toward export compensation as it becomes an EV export base.

Finance

KOSPI rebounds 1 percent, recovers 6,750 despite foreigners\' 2.885 trillion won net selling

South Korea\'s KOSPI rebounded despite heavy foreign selling, supported by buying from retail investors and institutions. The benchmark index rose 0.97 percent to 6,755.75 after giving up early gains and sliding as low as 6,557.39 before recovering in afternoon trade. Retail investors bought 1.98 trillion won net and institutions 862.3 billion won net, while foreigners sold 2.885 trillion won net. The Kosdaq climbed 2.22 percent.