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Finance

KB Kookmin Bank, NICE D&R to strengthen payment protection for SMEs and workers

KB Kookmin Bank will work with NICE D&R to improve the stability of payments to small and mid-sized companies and on-site workers. The bank said it signed a memorandum of understanding with NICE D&R on July 13 to practise inclusive finance. The partnership links NICE D&R’s electronic payment system, Nomubi.com, with the bank’s financial infrastructure to help prevent delayed payments of project costs and wages in construction, shipbuilding and manufacturing.

General News

Homeplus store sale proceeds spark fresh clash over operating funds and debt recovery

Homeplus, facing possible bankruptcy after a decision to scrap its rehabilitation procedure, has become embroiled in another dispute over how to use proceeds from the sale of closed stores. The retailer is pursuing a sale worth about 170 billion won for 2 stores. It wants to use part of the money as emergency operating funds, but its largest creditor, Meritz Financial Group, is said to favor debt recovery. The Democratic Party has urged MBK Partners and Meritz to secure funding and is seeking a hearing.

Crypto

Chainlink, Ripple Kansas University sponsorship fuels debate over XRP

Ripple has signed a major sponsorship deal with the University of Kansas sports programme that will put the XRP logo prominently on players’ uniforms, U.Today reported. A Chainlink community figure criticised the move as showing a disconnect between Ripple’s business and token marketing, while XRP supporters dismissed it as a rival project’s attack. The dispute has broadened into debate over Ripple’s business model and XRP’s role.