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Finance

KB Financial, BS Group to cooperate on productive finance for renewables, AI data centres

KB Financial Group will work with BS Group to jointly identify projects and expand financial support in future growth areas including renewable energy, energy infrastructure and AI data centres. The companies signed a memorandum of understanding on expanding productive finance and shared growth. They plan to combine expertise in finance and industry to develop business opportunities and build a strategic cooperation framework, and to run working-level consultative bodies by sector to find concrete projects.

Industry

Mega project to begin 353 trillion won investment this year; Lee says blitz over speed campaign

South Korea\'s government said it will accelerate a mega project, with 353 trillion won in investments set to begin this year through construction starts or facility expansions. President Lee Jae-myung called for parallel procedures, shorter timelines and regulatory improvements, and ordered steps to enable early use of the Gwangju military airport site as a semiconductor industrial complex. The plan also detailed power and water supply schedules and expanded support measures for robots, parts suppliers and smaller firms.

Industry

Ecopro Q2 operating profit 32.9 billion won, up 103 percent year on year

Ecopro Group said it stayed in the black on growth in its environmental business amid a semiconductor market boom and improved profitability in its lithium business. The company posted second-quarter consolidated revenue of 820.8 billion won and operating profit of 32.9 billion won, up 103 percent from a year earlier. Operating profit fell from the previous quarter. Heavy rain in Indonesia temporarily reduced utilisation at a nickel smelter, weighing on overall profitability.