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Finance

NH Nonghyup Bank agrees 1 trillion won financial cooperation with Korea Aerospace Industries

NH Nonghyup Bank will expand financial support for South Korea’s K-defense and aerospace industry through a cooperation agreement with Korea Aerospace Industries. The bank said on Sunday it signed a memorandum of understanding to broaden productive finance for the sector. Under the agreement, the bank plans to provide a total of 1 trillion won in funding over the next three years, covering needs such as technology development, facility investment and overseas market expansion.

Industry

Chinese arms-linked firm, Qatar royal money secretly bought SpaceX stake

New documents show that when SpaceX was a private company, investors with addresses in mainland China, Hong Kong and Russia bought stakes via a U.S. broker. The list includes an individual linked to a Chinese military contractor and an investor tied to Qatar royal funds. Records show at least 12 such investors put money into SpaceX-related funds from 2018 to 2021, with investments ranging from $800,000 to $40 million.

AI & Enterprise

NEXT project launched to secure world-leading tech by 2030 and world-first by 2040

South Korea will reorganise its national strategic technology framework into 55 technologies across 10 areas to respond to an AI transition and economic security competition. The government aims to secure world-leading technology by 2030 and take the lead in world-first technology by 2040. The Ministry of Science and ICT and the Office of Planning and Budget held a launch event for the NEXT project, which will link key R&D programmes with industrial and investment policies and build a NEXT Alliance in the second half of the year.