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AI & Enterprise

Intellivix wins Kosdaq preliminary listing approval, seeks standard IPO

Intellivix, an AI safety solutions company, said on Thursday it had passed the Korea Exchange’s preliminary review for a Kosdaq listing. Mirae Asset Securities is the lead underwriter. The company said it will pursue a standard listing based on performance rather than a technology special listing. Intellivix said it has posted profits for 13 straight years and reported rising revenue, along with operating profit and net profit last year.

Industry

U.S. tightens security lock on ESS; Korean battery makers with North American plants eye order rally

The U.S. government has designated battery energy storage systems as equipment tied to national security, raising expectations that Korean battery makers with U.S. production bases will win more North American ESS orders in the second half. LG Energy Solution expects new ESS orders of 70 GWh in the second half, while SK On has secured a deal to supply 9 GWh over five years. Samsung SDI is converting EV production lines to ESS.

Finance

Hana Bank to sell first guaranteed performance-linked insurance in Korean banking sector

Hana Bank will begin selling a guaranteed performance-linked insurance product for individual retirement pension (IRP) customers in partnership with Mirae Asset Life Insurance. The bank said it signed a business agreement on Aug. 28 and will offer the product at branches nationwide from Sept. 1. It said this is the first time a Korean bank has sold such insurance. The product combines investment performance with guaranteed pension payments over 20 years.