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Industry

Hanwha Solutions sells U.S. venture investment fund for $84.3 million to boost liquidity

Hanwha Solutions said on Wednesday it sold a venture investment fund that invested in U.S. innovative companies for $84.3 million. The company said it will use the proceeds to supplement funds for debt repayment created by the reduction in its rights issue and to bring forward plans to improve its financial structure. It also said it will quickly push ahead with 300 billion won of investor asset monetisation presented during the rights issue revision process.

Finance

KB Kookmin Bank, NICE D&R to strengthen payment protection for SMEs and workers

KB Kookmin Bank will work with NICE D&R to improve the stability of payments to small and mid-sized companies and on-site workers. The bank said it signed a memorandum of understanding with NICE D&R on July 13 to practise inclusive finance. The partnership links NICE D&R’s electronic payment system, Nomubi.com, with the bank’s financial infrastructure to help prevent delayed payments of project costs and wages in construction, shipbuilding and manufacturing.

Crypto

Wemix lists on U.S. crypto exchange Kraken, steps up push into Western markets

Wemix, a virtual asset issued by the Wemix Foundation, has officially listed on the U.S. cryptocurrency exchange Kraken, the industry said on Tuesday. The listing allows Kraken users worldwide to trade Wemix in U.S. dollars. The company aims to expand its real-world asset initiative and attract new ecosystem participants using global capital. Wemix also highlighted StableNet and the GAKS alliance as part of its infrastructure buildout.