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Finance

Hana Bank to support estate donations using will-substitute trust with Kangdong Kyung Hee University Hospital

Hana Bank will work with Kangdong Kyung Hee University Hospital to support estate donations using a will-substitute trust service. The bank said it signed a business agreement with the hospital on Aug. 27 to help spread an estate donation culture using such trusts. Hana Bank will offer tailored donation planning and funds management services for medical and caregiving purposes. The hospital will link prospective donors to Hana Bank’s trust services.

AI & Enterprise

AI music copyright standards gap adds to industry confusion

AI-generated music is spreading quickly, but South Korea still lacks clear standards for recognising copyrights. The Korea Music Copyright Association drew up its own rules for registering and managing AI-assisted music, then withdrew them about three weeks after implementation. Industry uncertainty over copyright registration and the distribution and settlement of royalties is expected to continue. The association has decided to put new registrations on hold until a new management system is prepared.

Finance

Coocon Q2 operating profit up 6.3 percent to 4.96 billion won

Coocon posted year-on-year growth in both revenue and operating profit in the second quarter and plans to expand new businesses in the second half. The company reported second-quarter revenue of 17.96 billion won and operating profit of 4.96 billion won. It launched an MCP-based data API and linked global mobile payment services, and completed a stablecoin proof of concept. Coocon also plans to establish a local unit in Singapore this year.