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Finance

Digital asset cross-industry ties spread as top 4 financial groups post 11 trillion won profit era

Big Tech, financial firms and payment companies in South Korea are widening digital-asset initiatives by teaming up with global blockchain companies. Kakao Group and Toss and Toss Bank are working with Circle to review stablecoin-based payment and settlement infrastructure and tokenised financial services. Banks are developing cross-border remittance and payment models. Separately, the top four financial holding groups posted combined first-half net profit above 11 trillion won, while regulators step up group-level oversight of fintech expansion.

Finance

Sh Suhyup Bank posts 70 trillion won in assets in first half, 203.4 billion won pre-tax profit

Sh Suhyup Bank recorded total assets of 70 trillion won in the first half of this year and pre-tax net profit of 203.4 billion won. The bank said assets rose 6.7 trillion won from the end of last year, while pre-tax profit increased 7.0 billion won from a year earlier. It plans to strengthen loan asset quality and internal controls in the second half and pursue commercialization of new business ideas proposed by employees.

AI & Enterprise

KT steps up financial sector AX, pledges to prove AI adoption results with numbers

KT said it will lower barriers to AI transformation in the financial sector by combining its know-how with finance-focused AI solutions, data and cloud capabilities, and consulting. It aims to support the full process from strategy to build and operations, moving beyond proof-of-concept projects to changes in real work and management results. KT said it won more than 20 AX projects in the financial sector in the first half of this year.