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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.

Industry

May ICT exports hit record $47.79 billion

South Korea\'s information and communications technology (ICT) exports rose 128.9 percent from a year earlier in May to $47.79 billion, while imports increased 36.0 percent to $15.7 billion, resulting in a $32.09 billion trade surplus. The Ministry of Science and ICT and the Ministry of Trade, Industry and Energy will announce the May ICT trade trends on June 15. Exports rose across major items including semiconductors, mobile phones, displays, computers and peripherals, and communications equipment.