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Crypto

Tesla-SpaceX merger possibility raised, with bitcoin also in scope

Elon Musk has formalised the possibility of a merger between SpaceX and Tesla, saying each board has set up an independent special committee to review it, while cautioning that treating a deal as certain would be an exaggeration. A combined company would integrate assets including Grok, X, Starlink, Tesla’s robotaxi and Optimus, and projects such as Terafab chips and the Starmind orbital data centre plan. The companies hold 30,221 bitcoin in total.

Finance

KOFIA signs MOU with Japan association to expand asset management cooperation

The Korea Financial Investment Association has signed a memorandum of understanding with the Investment Trusts Association, Japan to expand exchanges and cooperation between the South Korean and Japanese asset management industries. The MOU was signed in Toronto during the 39th annual general meeting of the International Investment Funds Association. The two sides plan staff exchanges, information sharing on markets and related systems, and joint seminars and workshops. Further exchanges are scheduled in Tokyo and Seoul.

Finance

KakaoBank to cancel 51% of treasury shares, use remainder for employee compensation

KakaoBank will cancel 270,000 of its treasury shares, or about half of the total it holds, within the legal deadline to enhance shareholder value, it said on Aug. 17. As of June 30, the company held 532,334 treasury shares, with the planned cancellation accounting for about 51 percent. The remaining 262,334 shares will be used for employee compensation. KakaoBank plans to seek shareholder approval in 2027 for a detailed holding and disposal plan.