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Finance

Tech Insight: $1 trillion poured into fintech, but why has financial literacy fallen?

With more than $1 trillion flowing into fintech over the past decade, financial literacy has slipped in the United States and remained low among young people in Britain, MAIA founder Michael Gilmore wrote in the Financial Times. He said most money has gone to payment systems, complex trading platforms and buy now, pay later services, not education. Gilmore pointed to MAIA winners backing AI help, anti-fraud work and tailored financial learning.

Telecommunications & Media

KT management and union reach pay deal with 3 percent base pay rise and 3 million won lump sum

KT management and its unions have reached a wage and collective bargaining deal after union members approved a tentative agreement. The package includes an average 3 percent rise in base pay and a 3 million won lump-sum payment, with retroactive application from Jan. 1 and payment due on Oct. 23. The deal also changes personnel evaluation grade shares and expands welfare support, including monthly pension-savings contributions and higher medical expense limits.

Crypto

Trump\'s former crypto adviser faces Genius Act conflict-of-interest questions over investment stake

Questions have been raised over whether Bo Hines, a former cryptocurrency adviser to U.S. President Donald Trump, faced a conflict of interest while promoting passage of the stablecoin-focused Genius Act. Reports say Nxum, an investment firm Hines co-founded, received $6.3 million under a contract with stablecoin issuer Tether, with the first payment made while he was in office. Hines is also alleged to have kept in contact with Nxum partners during his White House tenure.