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.

The Samsung family has completed payment of 12 trillion won in inheritance tax on the estate of the late former chairman Lee Kun-hee over five years, finishing six installments, heirs said on Saturday. The amount is about 50 percent more than South Korea’s 2024 inheritance tax revenue of 8.2 trillion won and is the largest such payment since the country’s founding. The estate included stakes in affiliates and real estate.