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Finance

IBK Industrial Bank of Korea launches i-ONE Sunshine Loan special guarantee at 6.0 percent a year

IBK Industrial Bank of Korea will launch a non-face-to-face loan product to improve financial access for low-income and low-credit borrowers. The i-ONE Sunshine Loan special guarantee offers up to 10 million won per person at an annual interest rate of 6.0 percent, with no early repayment fee. Eligible customers are salaried workers employed for at least three months, earning 35 million won or less annually and in the bottom 20 percent of NICE and KCB credit scores.

Industry

SpaceX IPO may benefit Elon Musk but hurt retail investors

SpaceX is pursuing an initial public offering at a valuation of more than $1 trillion, with losses in its AI business, uncertainty over Starship development and about $30 billion in debt emerging as key risks. A filing cited in a report also highlighted financial burdens, related-party transactions and concentrated voting power. The company put its total addressable market at $28.5 trillion, largely tied to AI, while Starlink generated more than $11 billion in revenue last year.

Finance

Hana Financial activates 3 trillion won inclusive finance roadmap, expands mid-rate loans and debt write-offs

Hana Financial Group is rolling out an inclusive finance roadmap that includes early execution of a total 3 trillion won in 2026. It plans to expand mid-rate loans, write off overdue debt and introduce insurance to prevent rental fraud targeting young people. Hana Bank will launch a non-face-to-face mid-rate loan product and a new loan for small merchants. The group also plans to improve alternative credit scoring and provide support through affiliates.