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Finance

BNK Financial reshuffles organization to focus on Busan-Ulsan-South Gyeongsang industries and AX

BNK Financial Group has carried out a second-half organizational reshuffle centered on a strategy tailored to the Busan-Ulsan-South Gyeongsang region and support for key local industries. It set up new units at the holding company to handle regional economic research, localized ESG strategy and an AI transformation drive, and created dedicated industrial finance organizations at Busan Bank and Kyongnam Bank. It also added teams focused on digital assets and marine finance.

Finance

FSC names 7 SME-focused brokerages to strengthen venture capital supply

South Korea\'s Financial Services Commission has designated seven securities firms as its sixth group of SME-focused financial investment companies to support funding for small and venture firms. The designation runs from July 10, 2026 to July 9, 2029. The FSC said it screened firms more strictly, focusing on capabilities and effects, and noted that designated firms have provided 17.9 trillion won in support over about 10 years.

Industry

Google backs German startup Proxima Fusion aiming for Europe\'s first commercial fusion power plant

Google has invested in German startup Proxima Fusion, which is aiming to build Europe’s first commercial nuclear fusion power plant. Proxima Fusion said it closed a 411 million euro funding round, valuing the company at $2.7 billion. The round was led by XTX Ventures and EastX Ventures, with RWE and Google as strategic investors. The company is developing a stellarator and targets an early-2030s demonstration plant and a commercial facility later in the decade.