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Finance

Four major financial groups pledge 2 billion won for South Gyeongsang flood recovery

South Korea\'s four major financial holding groups - KB, Shinhan, Hana and Woori - will each donate 500 million won to support recovery from heavy rain damage in parts of South Gyeongsang province including Geoje and Tongyeong. The groups are also rolling out financial support through affiliates, including emergency living funds, loans for small businesses and SMEs, deferrals of card payments and insurance premiums, and interest rate concessions.

Crypto

U.S. federal debt tops $40 trillion, bitcoin long-term thesis re-emerges

U.S. federal debt has surpassed $40 trillion for the first time, reviving arguments that bitcoin should be viewed as a scarce, non-sovereign asset. Market views differ on whether debt expansion supports long-term demand, while near-term prices remain more sensitive to interest rates and the dollar. The move coincided with U.S. Treasury steps aimed at calming long-term bond selling. Bitcoin has risen above $73,000 amid mixed interpretations of the rally.

Finance

South Korean banks\' won loan delinquency rate falls to 0.56 percent in June

South Korean banks\' won-denominated loan delinquency rate fell to 0.56 percent at end-June from 0.67 percent a month earlier, the Financial Supervisory Service said. It was still 0.04 percentage points higher than a year earlier. Newly delinquent loans totalled 2.6 trillion won in June, while bad-loan disposals jumped to 5.3 trillion won. The regulator warned delinquency rates could rise again amid economic uncertainty.