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AI & Enterprise

SKT forms AI fund with Japan\'s NTT, steps up Korea-Japan economic cooperation

SK Telecom said it will form a joint fund with Japan\'s NTT and Taiwan\'s Chunghwa Telecom to invest in next-generation AI technology. The IOWN AI Fund is expected to be worth $500 million, about 760 billion won. The companies plan to set up fund manager Catalight Capital with bases in Silicon Valley and East Asia. The fund will invest in startups across AI infrastructure, semiconductors, services and optical communications.

Finance

NH NongHyup Bank productive finance support tops 8.5 trillion won

NH NongHyup Bank said its productive finance support reached 8.54 trillion won as of May 22, meeting 67.6 percent of its annual target. The bank reviewed progress and discussed second-half priorities at its second productive finance steering committee meeting on May 28. It shared plans for advanced strategic industries, region-specific industries, technology finance, the National Growth Fund and venture capital equity investments. It also discussed collaboration strategies based on department ideas.

Finance

Mirae Asset Securities launches performance-linked IMA No. 3 worth 100 billion won

Mirae Asset Securities is launching a performance-linked integrated investment account (IMA) product worth a total of 100 billion won. The company said the product, Mirae Asset IMA No. 3, will raise 95 billion won from clients, while the remaining 5 billion won will be invested by Mirae Asset Securities as a seed investment. The product has a three-year maturity and seeks interest income mainly through corporate loans and corporate bonds.