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Search results for March 27

Finance

Policy lenders to launch 700 billion won fund to support growth of promising firms

IBK Industrial Bank of Korea, Korea Development Bank and the Export-Import Bank of Korea will form a joint fund worth 700 billion won to support the growth of promising small, midsize and venture companies. The three institutions said on Sept. 7 they had announced an investment programme for a policy-lender global scale-up cooperation fund. They plan to contribute 450 billion won in total and add private capital. Proposals are due by Sept. 30, with a final selection expected in November.

AI & Enterprise

GS Retail fined 12.8 billion won over personal data leak affecting 79,128 people

South Korea\'s Personal Information Protection Commission said it imposed a total of 12.95 billion won in penalties and 10.2 million won in fines on GS Retail and three other operators for violating privacy rules. It also ordered corrective measures to prevent recurrence and voted to publish the results on the operators\' websites. The commission said inadequate security measures led to data leaks across the operators\' systems.

Games & Commerce

Sony PS5 sales plunge 46 percent, raising concerns for game business growth

Sony\'s PlayStation 5 sales fell sharply, with fourth-quarter unit sales down to 1.5 million and annual sales at 16.0 million. The company expects revenue in its Games & Network Services unit to drop by 265.7 billion yen in fiscal 2026, citing weaker replacement demand and memory procurement constraints. Still, annual segment revenue rose 87.3 billion yen, helped by currency effects, network services and third-party software sales.