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Finance

Korean stock market enters new era as KOSPI touches 5,000

South Korea's stock market reached the milestone KOSPI 5,000 level in intraday trading for the first time, powered by a semiconductor upcycle and robot-related momentum, while politicians pushed support measures such as tax benefits. The index later closed below 5,000. Samsung Electronics and SK Hynix led gains, and brokerages raised targets, though analysts flagged limited earnings improvement beyond chips and growing concentration in a few stocks.

AI & Enterprise

MegazoneCloud to work with DB Inc on financial sector AI transformation

MegazoneCloud said it will work with DB Inc, DB Group's IT services company, to support AI transformation for financial-sector customers. The two companies on Jan. 21 signed a strategic memorandum of understanding at DB Inc's headquarters in Seoul. They agreed to combine on-premises and cloud capabilities and cooperate throughout AI adoption, deployment and operations tailored to the financial sector. DB Inc will support system 구축 and AI application in hybrid environments, while MegazoneCloud will build cloud environments and provide 운영, monitoring and optimisation support.

Crypto

Ondo Finance to list more than 200 tokenised U.S. stocks, ETFs on Solana

Ondo Finance will list more than 200 tokenised U.S. stocks and exchange-traded funds on the Solana blockchain, CoinDesk reported on Jan. 21. The move enables direct trading of U.S. stocks and ETFs using cryptocurrencies. Listings include Apple, Tesla, Meta, Microsoft and Nvidia, as well as SPDR S&P 500 ETF and iShares Russell 2000 ETF. Ondo said it is complying with existing financial rules without SEC approval and designed custody to fit new SEC rules.