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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.

AI & Enterprise

Nvidia talks with OpenAI on $250 billion guarantee for Ohio data centre

Nvidia is discussing providing about $250 billion in payment guarantees for a large data centre project for OpenAI, the Wall Street Journal reported. The guarantee would support OpenAI leasing a 10-gigawatt project being developed in southern Ohio by an energy unit of SoftBank, the report said. Including chips, the overall cost could exceed $500 billion. The U.S. government would control the power, with Japan funding under a recent trade agreement.

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.