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Bank loan delinquency hits 9-year high in May

Korean banks’ won-denominated loan delinquency rate rose to 0.67% at end-May, the highest in nearly nine years, driven by a jump in corporate lending and a spike in new delinquencies as write-offs fell. SME loans reached 1.00% and large corporates also rose, highlighting growing distress among small and mid-sized borrowers amid high rates and slower demand.

5 sources

Photo: Shealeah Craighead / Wikimedia Commons (Public domain)

Trump administration considers 10-day Iran ceasefire, airstrikes remain

The Trump administration is reviewing a 10-day ceasefire proposal backed by mediators to reopen the Strait of Hormuz and allow time to discuss a longer maritime framework, while considering ongoing airstrikes if diplomacy falters. With both sides maintaining military pressure and regional powers weighing their options, the outcome remains uncertain and oil markets are playing close attention to any signs of a diplomatic breakthrough or escalation, including potential widening conflict with Israel.

5 sources

Samsung establishes RX Office to advance robotics

Samsung is establishing the RX (Robotics eXperience) Business Promotion Office, reporting directly to the CEO, to unify dispersed robotics capabilities and push robotics as a core growth driver across consumer and industrial domains. It will build a data factory at the Gumi plant, create global research hubs in the US, China, and Japan, recruit leading talent, and coordinate mid- to long-term strategy, technology development, and commercialization to accelerate field deployment of intelligent robots.

23 sources

Photo: Oskar Alexanderson / Wikimedia Commons (CC BY-SA 2.0)

Samsung, LG Sweep Energy Winner Awards, Set Record

Samsung Electronics and LG Electronics dominated the 29th Energy Winner Awards, with Samsung winning the Energy Grand Prize for an eighth consecutive year and LG securing a record-tying 12 awards including three grand prizes; both firms highlighted AI-driven, energy-saving technologies across appliances from air conditioners to dishwashers. The ceremony, organized by the Consumer Citizens' Association and supported by the Ministry of Climate, Energy and Environment and the Korea Energy Agency, showcased Samsung's Bespoke AI WindFree Combo Gallery Pro and Infinite Line hood-integrated induction, and LG's Whisen AI Object Collection Tower and other energy-efficient products as leaders in cutting power use.

7 sources

Photo: MariaSmith89 / Wikimedia Commons (CC BY 4.0)

Shinsegae OKO plans $500M luxury hotel JV

Shinsegae Group and OKO Group are forming a $500 million joint venture to develop luxury hotels and branded residences under Aman and Janu, expanding hospitality and mixed-use projects across Asia, North America, and South Korea. The collaboration combines Shinsegae Property’s development expertise with OKO’s Aman/Janu brands to pursue global luxury hospitality and related real estate opportunities.

6 sources

Photo: Magneta6006 / Wikimedia Commons (CC BY-SA 4.0)

Taekwang Expands Win-Win Loan Fund to 50 Billion

Taekwang Industrial, together with Woori Bank, expanded its Win-Win Loan program from 10 billion to 50 billion won to subsidize suppliers, raising the maximum loan per company to 1 billion won and offering interest-rate relief of 3.16 to 3.59 percentage points for 121 partner firms. The initiative also includes non-financial support such as succession planning and asset management, while Taekwang’s savings banks will write off 26.9 billion won in long-delinquent debt to aid vulnerable borrowers.