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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

Hana Bank contributes 5.5 billion won to Incheon credit guarantee foundation to expand loans for small merchants

Hana Bank will make a special contribution of 5.5 billion won to the Incheon Credit Guarantee Foundation to support 84 billion won in guaranteed loans for small merchants. The bank said it signed an agreement with the foundation and visited Sinpo International Market and the Namdong National Industrial Complex. It will add 2.0 billion won in the second half after contributing 3.5 billion won in the first half.

Finance

Big tech financial platforms tighten internal controls; banks compete for young customers

Internal controls for fintech financial platforms are being tightened as concerns grow that system failures in payments, transfers and top-ups could quickly harm consumers and erode trust. Financial authorities have urged big tech e-finance operators to build IT stability and internal control systems comparable to traditional financial firms, while also revising support tools such as the financial regulatory sandbox. Banks are also stepping up competition for young customers as a youth savings product draws strong early demand.