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AI & Enterprise

MSIT selects 15 ICT future unicorns to support overseas expansion and funding

South Korea\'s Ministry of Science and ICT selected 15 companies for this year\'s Global ICT Future Unicorn Development Programme to support the global growth of promising AI and digital innovation firms. The ministry held a certificate presentation ceremony in Seoul on Tuesday. The programme, now in its seventh year, provides scale-up support and works with related agencies including NIPA, KODIT, the Korea Exchange and Seoul Guarantee Insurance.

Finance

IBK Industrial Bank of Korea to supply 1.5 trillion won for inclusive and productive finance with KODIT and KIBO

IBK Industrial Bank of Korea said on Wednesday it signed a memorandum of understanding with the Korea Credit Guarantee Fund and the Korea Technology Finance Corp to expand support for inclusive and productive finance. Total support will amount to 1.5 trillion won. The bank will supply 500 billion won for inclusive finance and 1 trillion won for productive finance, offering loan-rate reductions and guarantee-fee support to eligible small and medium-sized firms.

Finance

National Participation Growth Fund sells out as financial sector steps up payment ecosystem expansion

South Korea\'s National Participation Growth Fund effectively sold out on its first day of sales, with more than 87 percent of supply taken up and some online allotments closing in 10 minutes. Financial authorities are reviewing options to bring forward next year\'s supply or add more, with additional sales in the second half also discussed. Markets also saw spillover effects, while financial institutions and fintech firms moved to expand payment ecosystems and data-driven services.