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Finance

Toss, Woori Finance Savings Bank launch Soho Score loan for sole proprietors

Viva Republica, operator of Toss, will have its alternative credit scoring model for sole proprietors, Soho Score, applied to Woori Finance Savings Bank’s screening for unsecured credit loans to individual business owners. Toss said it launched a sole proprietor-only unsecured credit loan, VitaWON BIZ, using the model. Soho Score was jointly developed by Toss and Korea Credit Data. The companies aim to widen financial access for mid- to low-credit sole proprietors.

Fintech

MyData market to expand as fintech eyes AI loans and finance groups focus on data sharing

Korea’s Financial Services Commission plans to expand MyData beyond individuals to include sole proprietors and small merchants, and to introduce a “My AI Agent” that can carry out financial actions on users’ instructions. The overhaul would integrate financial, commercial and public data for sole proprietors, including sales and tax information. Fintech firms are looking at AI-driven loan execution, while financial groups are focusing on sharing personal credit data among affiliates under revised rules.

AI & Enterprise

KT posts Q2 consolidated revenue of 6.68 trillion won, operating profit of 648.3 billion won; AX business up 22.3 percent

KT reported second-quarter consolidated revenue of 6.68 trillion won and operating profit of 648.3 billion won under K-IFRS. Revenue fell 10.1 percent and operating profit slid 36.1 percent from a year earlier. KT said profit was hurt by base effects from one-off gains last year, but improved from the first quarter on growth businesses such as data centres and real estate and stronger performance at content units.