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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

Former manager of Park Na-rae arrested for extortion

Park Na-rae’s former manager, identified as A or Shin, has been arrested on charges including attempted extortion and embezzlement, allegedly demanding 10% of 2024 sales and siphoning about 30 million won from the company. The case unfolds amid a prolonged legal feud with Park, who faces separate investigations and counter-suits related to workplace abuse, illegal prescriptions, and other allegations, with two other former managers also being referred to prosecutors.

9 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)

South Korea Exports Jump 52% July 1-20

South Korea’s exports for July 1–20 rose 52.3% year-on-year to $54.9 billion, led by a 180% surge in semiconductors, while passenger-car shipments fell about 10.6%, and exports to China and the United States grew strongly. Imports climbed 20% to $42.7 billion, producing a $12.2 billion trade surplus, with the period marking a record high though daily averages suggest volatility as global demand and energy prices influence flows.

14 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: 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.