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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.

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Photo: Sgt. Waine Haley / Wikimedia Commons (Public domain)

Iran war costs reach $37.5B, Defense Secretary says

The United States has spent about $37.5 billion on the Iran war so far, with estimates possibly rising beyond current projections through September and including pay, operations, and maintenance costs. Defense Secretary Pete Hegseth defended a $67 billion supplemental funding request during Senate hearings as part of a broader GOP budget package, while the debate unfolded amid protests and warnings about a potential long-running conflict under the Trump administration.

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