AI & Enterprise

MSIT breaks ground on Songpa ICT security cluster to concentrate radio wave and information security agencies

South Korea will develop the Central Radio Management Office site in Seoul’s Songpa district into an ICT security cluster bringing together radio wave and information security agencies and private facilities. The Ministry of Science and ICT and the Korea Asset Management Corp held a groundbreaking ceremony for the project’s first phase on Aug. 25. Phase one will build a new Central Radio Management Office building and a radio wave testing facility, with completion targeted for the first half of 2029.

Crypto

Sh Suhyup Bank secures 14.95% stake in Infiniteblock to expand digital asset business

Sh Suhyup Bank has secured a 14.95% stake in South Korean digital asset custodian Infiniteblock and will seek new businesses related to digital assets. The bank said it signed a strategic partnership agreement at its headquarters in Seoul, attended by CEO Shin Hak-gi (신학기) and Infiniteblock CEO Jung Gyu-tae (정규태). The investment makes Suhyup Bank a joint second-largest shareholder. The firms plan cooperation on new business models and blockchain-based technology.