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People & Appointments

Baek Kyung-hoon stresses finance role in developing physical AI, cites virtuous cycle of commercialisation and investment

Deputy Prime Minister and Science Minister Baek Kyung-hoon called for cooperation among regional governments, the central government and the financial sector to foster the physical AI industry. Speaking at a forum hosted by the Korea Development Bank in Seoul, Baek said physical AI must be advanced in industrial settings, not just developed in labs. He said financial backing is needed to create a virtuous cycle linking commercialisation, investment and growth.

Crypto

Dunamu to hold UIS 2026 bringing together global digital asset stakeholders

Dunamu, which operates digital asset exchange Upbit, will hold the Upbit Institutional Summit (UIS) on Sept. 29 at the Grand Walkerhill Seoul in Seoul’s Gwangjin district. The event brings together global policymakers, institutional investors, financial firms and digital asset and technology companies to discuss digital asset institutionalisation and broader institutional participation. The agenda includes regulation, tokenisation, on-chain finance, Asian regulatory environments, and AI and blockchain convergence.

Finance

FSC to increase support for small merchants by over 1.5 trillion won, ease financing barriers for startups

South Korea\'s financial authorities will expand the supply of the \"Small Merchants The Dream Package\" to more than 12 trillion won from 10.5 trillion won. They will also lower financing barriers for early-stage startups and abolish joint guarantees applied to P-CBO support for small and medium-sized firms. The Financial Services Commission discussed the measures at a policy finance meeting at IBK Industrial Bank of Korea and said it will announce detailed revisions to the package later this month.