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Finance

Samsung Securities launches first issued commercial paper, goes on sale from Sept 21

Samsung Securities will launch its first issued commercial paper product based on its own credit and begin full-scale sales from Sept. 21. The company said on Sept. 17 it will offer both promotional and standard products. Promotional offerings include 2 to 90-day notes at 5.5 percent for certain customers and 1-year notes at 4.3 percent for account holders, each with issuance caps. Standard products will continue after promotions end, with rates varying by type and term on a pre-tax basis.

Crypto

Peter Schiff says Fed has already lost to inflation, chose gold over bitcoin

Peter Schiff said the Federal Reserve has already lost the fight against inflation and that further interest-rate increases could put strong downward pressure on bitcoin and the broader crypto market. In an interview, he tied bond-market instability, rising U.S. Treasury yields, weakening dollar purchasing power and increased central-bank gold buying into a single trend. He said restoring credibility would be difficult and argued that bitcoin lacks backing compared with gold.

Finance

Woori Financial supplies 25.3 trillion won in productive finance, hits 116 percent of annual target

Woori Financial Group said it supplied 25.3 trillion won in productive finance through August, reaching 116.3 percent of its annual target. It plans to expand funding and investment focused on regional areas and small and mid-sized enterprises. The group reviewed progress at a Sept. 16 meeting chaired by Chairman Yim Jong-yong. It also reported 2.2 trillion won in inclusive finance through August and plans to expand debt write-offs and apply AI transformation to operations.