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Industry

Samsung SDI bets on ESS focus to aim for quarterly profit turnaround

Samsung SDI is reorganising its business from EV batteries toward energy storage systems, citing difficulty in a near-term recovery in EV demand. It targets nearly 50 percent ESS sales growth this year and aims to turn profitable on a quarterly basis in the second half. The company is converting U.S. capacity from EV lines to ESS and expects profitability to improve as a U.S. LFP line starts up. It also plans asset sales, including Samsung Display shares, to strengthen finances.

Finance

Ham Young-joo court risk lifts as Hana Financial steps up digital asset push

South Korea’s Supreme Court sent back for retrial the obstruction-of-business conviction of Hana Financial Group Chairman Ham Young-joo (함영주) in a hiring-fraud case, citing a lack of direct evidence that he conspired to pass certain applicants. It upheld a guilty finding on discriminatory hiring based on a pre-set male-to-female hiring ratio and left intact penalties for the bank entity. The decision is expected to speed Hana’s stablecoin and digital finance initiatives.

Finance

Korea to deploy 1,240 trillion won in productive finance over 5 years; private sector share rises to 614 trillion

South Korea and the financial sector will supply a total of 1,240 trillion won in productive finance over the next five years, expanding support from private finance to 614 trillion won. The Financial Services Commission reviewed implementation plans at a consultative meeting chaired by Vice Chairman Kwon Dae-young. The monthly forum will monitor tasks on a project basis. Financial groups, brokerages, insurers and policy lenders shared investment and funding plans and organisational measures.