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Finance

Korea Investment Securities\' JCR credit rating upgraded to \'A\'

Korea Investment Securities said Japan Credit Rating Agency (JCR) upgraded its long-term foreign-currency issuer credit rating to \'A\' from \'A-\'. JCR also raised the bond credit rating to \'A\' from \'A-\' and changed the outlook to stable from positive. JCR cited solid profitability, a diversified business portfolio, capital adequacy, and liquidity. Korea Investment Securities has expanded overseas funding, including issuing a total of 66 billion yen in bonds in Japan.

Crypto

Metaplanet sells 10,000 bitcoins and buys back 11,000 in higher-priced move

Companies that pledged to hold bitcoin for the long term are moving to secure cash for fundraising and debt repayment. Japan-based bitcoin reserve and management firm Metaplanet sold 10,000 bitcoins while pursuing a credit rating, then repurchased 11,000 at a higher price. Strategy is also building billions of dollars in cash-like funds to prepare for dividends and interest payments. A shared challenge is that keeping bitcoin often requires cash other than bitcoin.

Finance

Woori Bank launches non-face-to-face real estate-backed loans for sole proprietors, up to 1 billion won

Woori Bank has launched a non-face-to-face real estate-backed loan for sole proprietors that can be applied for without visiting a branch. The bank said it expanded the scope of its flagship Woori Sajangnim Loan from unsecured credit loans to secured lending. Applications can be made through the WooriWON Banking Business app, with a loan limit of up to 1 billion won. Eligible borrowers must pledge individually or jointly owned property and meet credit assessment standards.