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Finance

Woori Investment Securities arranges 600 billion won acquisition financing, largest since launch

Woori Investment Securities has completed its largest acquisition financing arrangement since its launch, as it expands participation in big-ticket investment banking deals after a 1 trillion won rights issue. The firm said it completed on June 30 the acquisition financing arrangement for a deal in which a consortium led by STIC Alternative Asset Management and Korea Investment Private Equity is buying stakes in Ulsan GPS and SK Multi Utility. The overall transaction is worth 1.6 trillion won.

Crypto

U.S. CLARITY Act stalls; Bitcoin and XRP face \'double pressure\' amid regulatory gap

With the U.S. CLARITY Act pushed back again to July, Bitcoin and XRP are struggling around the psychological supports of $60,000 and $1. A U.S. House hearing is set for July 17 in New York, while a 60-vote Senate threshold remains key. Market participants cite ETF outflows, a strong dollar and rate expectations weighing on sentiment. In South Korea, financial firms are moving ahead with partnerships and infrastructure plans as digital-asset legislation is delayed.

AI & Enterprise

Twelve Labs raises $100 million in additional funding, expands AWS alliance

Video-understanding AI foundation model developer Twelve Labs said on Tuesday it raised $100 million in Series B funding to pursue general intelligence beyond basic video understanding. The round was co-led by NEA and Naver Ventures, with participation from Amazon, Radical Ventures, Korea Investment Partners, Index Ventures, Kadriyu Capital and Red Bull Ventures. Twelve Labs said its total funding has surpassed $207 million and it will deepen cooperation with Amazon Web Services.