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Overdraft Delinquencies Rise Among Young and Elderly Investors

In the first half of this year, delinquent balances on overdraft accounts at major commercial banks in South Korea grew at a pace nearly four times faster than outstanding loan balances, data showed.

  • Delinquency rate for overdraft accounts surged to 0.22% in June 2023.
  • Stock market correction triggered by borrowers' investment losses and interest costs.

Samsung SDI Acquires GM Stake, Securing U.S. Battery Plant

An electric vehicle battery plant with annual capacity of 27GWh now under construction in New Carlisle, Indiana, will be converted to a sole-operation system under Samsung SDI.

  • Samsung SDI acquires remaining 49.99% stake in Synergy Cells.
  • Joint venture with GM to build $3.5B New Carlisle, Indiana battery plant.
  • Shifts focus to energy storage systems amid EV market slowdown.

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