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Industry

Isu Chemical introduces AI operation support in petrochemical processes

Isu Chemical is moving to adopt artificial intelligence transformation at its production sites after being selected for a 2026 programme backed by the Korea Technology and Information Promotion Agency for SMEs. The project, led by Kolon Benit with the Korea Productivity Center participating, will build an AI-based operation support system for continuous chemical processes. The company plans to link plant data, apply time-series AI models, add predictive maintenance and improve energy efficiency and carbon reduction efforts.

Finance

IBK Industrial Bank of Korea launches first KOFR-linked loan, offers 500 billion won support for SMEs

IBK Industrial Bank of Korea will provide 500 billion won in financial support for small and medium-sized enterprises facing temporary funding difficulties. It will apply the Korea Overnight Financing Repo Rate (KOFR) as the benchmark rate for loans for the first time among South Korean banks, widening borrowers’ interest-rate options. The bank will launch the KOFR short-term liquidity support loan on Oct. 26 and offer up to a 0.3 percentage-point rate cut for regional SMEs.

People & Appointments

Kakao joins 2026 Korea small business convention to showcase mutual growth programmes

Kakao will take part in the 2026 Korea Small Business Convention on Oct. 23-24 at BEXCO in Busan to present its support programmes for small merchants and regional mutual growth initiatives. It will run a booth featuring Project Dangol, Gotgot and the Kakao Business Boss Community. Kakao will also introduce its regional AI start-up support body, Kakao AI Dot, and showcase its AI service Kanana.