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Finance

Mitos puts financial security to the test as network separation easing begins

Single-stock leveraged ETFs and ETNs tied to Samsung Electronics and SK Hynix sharpened semiconductor concentration in South Korea\'s stock market, with first-day turnover topping 10 trillion won. Regulators warned investors about amplified losses. Financial firms also stepped up responses to AI-driven cyber threats as the emergence of high-performance AI \"Mitos\" raised concerns about more sophisticated hacking, prompting authorities to review easing and possible full removal of network separation rules.

Finance

Youth Future Savings bonus rates disclosed, banks offer up to 8 percent

South Korea will launch the Youth Future Savings policy finance product on June 22. The Financial Services Commission said it disclosed interest rates and preferential conditions by institution on the Korea Federation of Banks\' consumer portal. The product carries a fixed base rate of 5 percent for three years, with preferential rates adding 2 to 3 percentage points to as much as 7 to 8 percent. With government contributions and tax exemptions, the commission said the effect can be similar to higher simple-rate savings returns.

Finance

Four major financial groups\' Q1 results split as AI, digital finance spread

South Korea\'s financial sector has entered the first-quarter earnings season, with non-interest income and non-bank units driving diverging results among major financial holding companies. KB Financial Group, Shinhan Financial Group and Hana Financial Group posted record results, while Woori Financial Group recorded a decline. Strong stock markets lifted securities firms\' earnings, and new savings and investment products were launched. The industry is also accelerating a shift toward AI and digital finance, alongside calls for stronger controls and risk management.