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Finance

Small business sales up 4.5 percent but margins fall for second straight quarter; delinquencies rise

South Korean small business sales rose 4.53 percent in the second quarter from a year earlier, but profit margins fell for a second straight quarter as expenses increased faster, a report by Korea Credit Data showed. Average revenue per business was 47.11 million won, while average spending rose 5.83 percent to 35.22 million won. Delinquent amounts on sole proprietors’ loans rose 4.3 percent from the previous quarter to 15.2 trillion won.

Finance

KB Kookmin Bank launches Nomu365 payroll transfer event, offers up to 80,000 won

KB Kookmin Bank is running a payroll transfer event linked to the HR management platform Nomu365. The bank said on Thursday the event will run through the end of November for Nomu365 users operated by ITCEN Core. Eligible participants are 3,000 corporations and sole proprietors using Nomu365, on a first-come, first-served basis. Customers must apply in Nomu365 and complete at least two months of payroll transfers to receive up to 80,000 won.

Games & Commerce

Kakao holds AI ideathon with five national universities; 145 students take part

Kakao will work with 145 students from five regional national universities to develop agentic AI services aimed at solving social problems. The company said it held the Kakao Tech Campus Ideathon on Aug. 22 and 23 with students from Kangwon, Kyungpook, Pusan, Chonnam and Chungnam National Universities. Kakao has shifted this year’s curriculum from web and app development to planning and developing agentic AI services.