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Finance

Four major banks offer financial aid for southern region flood victims, loans up to 500 million won

South Korea’s four major banks are providing emergency financial support for customers affected by heavy rain in the country’s southern region. The banks will offer loans of up to 50 million won for individual customers, with limits varying by bank. They will also provide working capital and facility loans of up to 500 million won for small and medium-sized firms, small merchants and individual business owners, and apply preferential interest rate discounts on working capital loans.

Industry

Ecopro Q2 operating profit 32.9 billion won, up 103 percent year on year

Ecopro Group said it stayed in the black on growth in its environmental business amid a semiconductor market boom and improved profitability in its lithium business. The company posted second-quarter consolidated revenue of 820.8 billion won and operating profit of 32.9 billion won, up 103 percent from a year earlier. Operating profit fell from the previous quarter. Heavy rain in Indonesia temporarily reduced utilisation at a nickel smelter, weighing on overall profitability.