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Finance

Woori Financial steps up productive, inclusive finance, chair vows not to miss \'golden time\'

Woori Financial Group held an April council meeting on financing for advanced strategic industries, chaired by Chairman Lim Jong-ryong (임종룡), to review first-quarter results and second-quarter tasks for its 80 trillion won Future Shared Growth Project. Participants agreed to speed up productive finance amid rising external uncertainty. The group also outlined inclusive finance measures, including loan rate caps and interest relief, and plans to complete a groupwide platform in May.

AI & Enterprise

China starts undersea data centre off Shanghai to ease AI computing bottlenecks

China is accelerating the expansion of offshore infrastructure to meet surging demand for AI computing, with an undersea data centre linked directly to offshore wind power starting operations near Shanghai. The facility, built by Shanghai HiCloud Technology, was installed about 10 km off Shanghai’s eastern coast at a depth of 10 metres. The project involves 1.6 billion yuan of investment and a planned capacity of 24 MW. Researchers cite potential benefits but note standardisation, maintenance and economic viability challenges.

AI & Enterprise

National Growth Fund to invest 250 billion won in NPU fabless Rebellion

South Korea\'s Ministry of Science and ICT and the Financial Services Commission said on March 26 they approved a 250 billion won direct investment from the Advanced Strategic Industries Fund into AI semiconductor fabless company Rebellion. The deal is the fourth first-phase mega-project under the \'K-Nvidia fostering\' initiative and the first to use direct equity investment. The capital will be provided via redeemable convertible preferred shares.