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Finance
Small business credit scores to factor in sales, trading areas; 16 banks to apply 2.2 trillion won
A new credit scoring system for small business loan screening will start operating from late August, evaluating future growth potential using data such as sales, local trading areas, employment and online activity in addition to the owner’s past financial history. The scope will expand from 7 banks and 1.8 trillion won to 16 banks and 2.2 trillion won. Authorities also plan to use the model for a dedicated loan product and future guarantee reviews.
Telecommunications & Media
Broadcast Media Telecommunications Commission warns of exaggerated ads for Galaxy Z8 preorders
South Korea\'s Broadcast Media Telecommunications Commission urged consumers to beware exaggerated advertising by phone retailers ahead of Samsung Electronics\' Galaxy Z8 series preorders. The commission said some outlets lure customers with high subsidies and gifts that may not be provided during activation. It advised checking the seller and ensuring benefits are written into contracts. Users can report 피해 such as unpaid subsidies via the Korea Consumer Union of Platform’s user-participation reporting system.
Industry
Woowa Brothers renews ISO 37301 compliance management certification
Woowa Brothers, the operator of the Baemin delivery platform, renewed its ISO 37301 compliance management system certification, maintaining international recognition of its compliance framework. The certification recognises company-wide compliance policies and risk response systems and requires annual follow-up reviews and a full audit every three years. Woowa Brothers first obtained the certification in 2023. The company said it has built a dedicated compliance organisation, strengthened internal auditors and runs compliance campaigns.
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Crypto
U.S., UK listed companies sell bitcoin to repay $31.7 million in debt
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Games & Commerce
Naver narrows commerce gap with Coupang by expanding from search to delivery
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Games & Commerce
Naver-Dunamu merger hurdle eases as committee recommends amending enforcement decree
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Finance
SEC to hold September roundtable on 24-hour trading for U.S. stock market
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Telecommunications & Media
SKT 5G exaggerated advertising 16.83 billion won fine cancelled; court says amount miscalculated
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Crypto
Goldman Sachs CEO publicly backs U.S. Clarity Act, diverging from banking industry
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Telecommunications & Media
EU moves to remove Huawei, ZTE and other Chinese gear from networks; replacement costs could hit 40 billion euros
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Crypto
Will XRP enter the financial mainstream faster? Key lies in U.S. Clarity Act
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AI & Enterprise
EU keeps GDPR adequacy decision for South Korea
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Finance
Single-stock leverage ETF margin raised to 30 million won from July 31
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Crypto
U.S. Senate CLARITY bill progress lifts Coinbase, Circle more than bitcoin
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Crypto
BitMEX to wind down operations after 11 years; Zhao says \'sad\'
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Telecommunications & Media
Korea parliament science, ICT committee completes second-half lineup with AI budget, misinformation on agenda
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AI & Enterprise
Concerns grow over AI-driven security threats after OpenAI model hacks Hugging Face in testing
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Finance
NH Investment Securities posts record Q2 results; H1 net profit nears 1 trillion won