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Finance

Woori Bank shakes off first-half slump, posts record third-quarter net profit

Woori Bank rebounded from weak first-half results, posting a record quarterly net profit of 1.03 trillion won in the third quarter, up 22 percent from the previous quarter. Nine-month net profit rose 4.7 percent from a year earlier to 2.40 trillion won. Higher interest income from expanded corporate lending, stronger non-interest income and lower loan-loss provisions supported results. Its net interest margin fell and delinquency indicators worsened.

AI & Enterprise

MSIT discusses quantum technology cooperation with 13 countries, seeks to expand joint R&D

South Korea\'s Ministry of Science and ICT is expanding international cooperation with 13 major countries to industrialise quantum technology. It will host the 9th Multilateral Dialogue on Quantum Technology in Seoul through Oct. 16 and hold a business networking event. Participants will share policy updates and discuss OECD recommendations. South Korea will present plans for three quantum clusters and propose joint R&D and a study on cross-border talent mobility.

Finance

MG Community Credit Cooperatives sell 3.48 trillion won in NPLs in H1, merge 21 units

MG Community Credit Cooperatives sold 3.48 trillion won worth of non-performing loans in the first half of this year and merged 21 member cooperatives as it accelerates efforts to improve asset quality. Of the total NPL sales, 3.19 trillion won was sold through MG Asset Management Co, a specialist manager launched in July last year. The delinquency ratio fell to 5.08 percent at end-2025 from 8.37 percent at end-June 2025.