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Finance

Stock rally swells overdraft credit lines as banks balance profit and regulation

A stock market rally is fuelling renewed debt-backed investing by retail investors, pushing up overdraft credit line balances at South Korea’s major banks. Balances at the five biggest lenders rose from 39 trillion won at end-April to above 41 trillion won in May, the highest in about 3 years and 4 months. Banks see profit opportunities among high-credit borrowers but face potential pressure from regulators if household lending keeps rising.

AI & Enterprise

Tech industry alliances spread to counter AI-driven threats

Moves to find countermeasures through cooperation are gaining momentum as concerns spread over cyber intrusions tied to using AI models to discover software vulnerabilities. Anthropic introduced its Project Glasswing programme, and OpenAI launched the AI-based cybersecurity initiative Daybreak. Palo Alto Networks rolled out Frontier AI Defense and said it found 75 vulnerabilities in its products within a month of using models from Anthropic and OpenAI. Governments and institutions are also seeking access.

Crypto

NH NongHyup Bank steps up digital asset security cooperation with Financial Security Institute

NH NongHyup Bank said on Wednesday it signed a memorandum of understanding with the Financial Security Institute to strengthen security for digital asset services and build a technology verification system. The bank said it was the first such agreement in the banking sector aimed at technology verification and security reinforcement for digital asset services. The two sides plan to cooperate on security inspections, information sharing and reviewing business applications of verification results.