South Korea plans to let small business owners with limited credit histories seek bank loans using AI-based credit assessments built on non-financial data such as sales, business type and trade area conditions. The Financial Services Commission unveiled a small business-focused credit assessment system that grades growth prospects in 10 tiers and can lift existing credit ratings. Seven banks will pilot it from August in loan screening worth about 1.8 trillion won, with expansion planned later.

Hana Financial Group said it will select Jeonbuk Innovation City as its capital market strategy centre and build an integrated financial hub with specialised capital-market functions. The plan will consolidate key group capabilities such as asset management, securities, custody and institutional sales, while strengthening National Pension Service fund-linked business and locally focused finance. Hana Financial plans a phased build-out centred on relocating about 150 staff and creating a One-Roof centre. It also plans to expand support for youth startups and small businesses.