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Finance

Shinhan Financial joins KIBO, Seoul National University Hospital to foster K-bio ventures

Shinhan Financial Group will work with the Korea Technology Finance Corporation and Seoul National University Hospital to foster K-bio venture companies. Shinhan Financial said it signed a memorandum of understanding in San Diego on June 26 for the joint discovery and nurturing of global K-bio ventures. The three organisations plan to expand investment attraction and technology cooperation opportunities for domestic bio ventures and build a platform covering commercialisation, consulting and overseas expansion.

Finance

KOSDAQ left behind as penny stock delisting rules loom

KOSDAQ continues to lag South Korea\'s main market. The KOSPI rose as Samsung Electronics and SK Hynix rebounded, while KOSDAQ remained below 1,000 for a fourth straight session. Market participants cite limited foreign and institutional inflows, low trust and concentration in large KOSPI stocks. From July 1, stocks priced below 1,000 won will be subject to delisting conditions, a change seen as a near-term drag but potentially supportive of market confidence.

AI & Enterprise

Google to build data centre from 2,000 discarded Pixel phones in low-cost server test

Google has begun testing a low-cost data centre built from retired Pixel smartphones, aiming to cut costs and electronic waste by turning discarded devices into computing resources. Researchers stripped phones to mainboards and replaced Android with a Linux-based environment to run orchestration platforms such as Kubernetes. Tests showed clusters of dozens of phones could support applications used by students. The team is also pursuing a 2,000-phone facility designed to support about 100 classes.