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Finance

Woori Investment Securities sole lead manager for Ecopro Indonesia unit 120 billion won fundraising

Woori Investment Securities acted as sole lead manager for a 120 billion won fundraising by Green Eco Nickel, Ecopro\'s Indonesian unit, it said on Wednesday. The brokerage said the deal was a large corporate finance transaction carried out on the back of stronger capital after a 1 trillion won capital increase early last month. Ecopro plans to use the funds to expand infrastructure at local refining facilities.

Industry

SK On shifts to sole CEO Yong-wook Lee as Seok-hee Lee steps down

SK On will shift to a sole CEO structure led by Yong-wook Lee after Seok-hee Lee said he would step down as CEO at the end of May. The move ends the co-CEO system launched in October last year after about seven months. Lee cited health and stamina issues. His resignation was delayed until key management issues were wrapped up, including a restructuring of the BlueOval SK U.S. joint venture with Ford and a conversion of the Tennessee plant into a standalone entity.

AI & Enterprise

National Growth Fund bets 800 billion won on FuriosaAI, backs SK Bioscience too

South Korea\'s National Growth Fund will support domestic AI chipmaker FuriosaAI to expand mass production and develop next-generation chips, while also providing funding to Smilegate for an AI data centre project and to SK Bioscience for vaccine development and plant expansion. The Financial Services Commission approved five projects worth 4.14 trillion won, raising the fund\'s cumulative approvals to 12.5 trillion won across 16 projects. Support also includes loans for L&F Plus and funding for switchboard maker Geunu.