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AI & Enterprise
Shinsegae ties up with OpenAI on AI commerce, plans to add shopping agent this year
Shinsegae Group is partnering with ChatGPT developer OpenAI to expand AI commerce across its businesses, starting with E-Mart. The companies signed a memorandum of understanding on April 6, marking the first strategic tie-up between OpenAI and a South Korean retailer in AI commerce. They aim to develop a ChatGPT-based end-to-end AI commerce model for commercialization in 2027. Shinsegae also plans to add an AI shopping agent to the E-Mart app this year.
Finance
Netmarble to buy 150 billion won worth of Coway shares on market
Netmarble plans to buy a total of 150 billion won worth of shares in affiliate Coway on the open market over the next year, it said on Sunday. The company said it disclosed the overall purchase plan after market close and will first buy about 40 billion won worth of shares over about a month from May 7 to June 5. Netmarble currently holds a 26 percent stake in Coway.
Industry
Top Material to supply LFP production line to Turkish battery company
Top Material will supply a lithium iron phosphate (LFP) battery production line to Turkish battery company Aspilsan Enerji. The company said on April 6 it signed a turnkey supply contract with Aspilsan Enerji to build an LFP battery cell manufacturing line. The contract is worth about 7.9 billion won ($5.2 million). Aspilsan supplies batteries for drones and energy storage systems with Turkish government support, and the two sides agreed to expand cooperation for entry into the European market.
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AI & Enterprise
AI data center insurance demand surges as GPU-backed lending spreads
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Crypto
NHN in talks to acquire private cloud firm Innogrid, nothing decided
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Finance
Financial sector to raise annual contributions to SMEF by 197.3 billion won; microloans to rise to 420 billion won
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Finance
KOSPI ends up more than 1 percent, KOSDAQ falls
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AI & Enterprise
AvoLabs signs partnerships with 50 education institutions to expand agentic AI training
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Industry
Without Korean-made transformers, AI would stall; U.S. big tech seeks help from South Korea's power equipment makers
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Crypto
Four ways Bitcoin can survive a quantum threat
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Crypto
South Korea financial regulators to check crypto exchange user assets every five minutes
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AI & Enterprise
Bepple aims to digitise paper-based casting process, push into global market
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Telecommunications & Media
Disney+ expands live content partnership with Korean eSports association
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Telecommunications & Media
Netflix to train audio description specialists for visually impaired for second year running
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AI & Enterprise
Motif Technologies to hire developers for proprietary AI foundation model project
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Industry
Samsung affiliates to apply five-day vehicle restrictions at all sites
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Crypto
Bitcoin and dollar in symbiosis; GENIUS Act framework should not be undermined
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Science & Technology
Aging Earth magnetic field data could hit navigation for aircraft and drones