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Industry

LG Electronics posts Q2 operating profit of 1.58 trillion won, up 147 percent year on year

LG Electronics posted its highest-ever second-quarter sales and operating profit, reporting revenue of 23.83 trillion won and operating profit of 1.58 trillion won. Sales rose 14.9 percent and operating profit jumped 147 percent from a year earlier. Revenue edged up from the previous quarter, while operating profit fell. The company said growth was led by home appliances, supported by sports events and vehicle solutions, with profitability helped by cost efforts and a one-off tariff refund.

Crypto

Bitcoin spot ETFs see inflows for sixth straight session; macro, Middle East uncertainty persists

New money has flowed into bitcoin spot exchange-traded funds for six straight sessions, helping bitcoin prices rebound. Bitcoin Magazine reported that about $1 billion has entered bitcoin spot ETFs since last Tuesday. Products run by BlackRock, Morgan Stanley and Grayscale took in more than $930 million over the period, according to Farside Investors. Markets remain cautious on direction, citing liquidation, Middle East war and inflation as pressures.

Finance

Shinhan Bank to support SMEs hit by Middle East war with Kibo

Shinhan Bank will work with the Korea Technology Finance Corporation (Kibo) to support small and medium-sized firms hurt by instability in the Middle East. The bank said it signed an agreement with Kibo on June 26 for inclusive financial support to help SMEs overcome crises stemming from the Middle East war and related factors. Shinhan will contribute 4 billion won, while Kibo will supply 200 billion won in guarantees using the funds.