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AI & Enterprise
Databricks annualised revenue tops $7 billion
Databricks said on Thursday its annualised revenue had exceeded $7 billion. The company said it grew by more than 80 percent in the second quarter from a year earlier and completed a $5 billion strategic investment round that valued it at $190 billion. Databricks said it will use the funds to accelerate innovation in core AI products including Lakebase, Genie and Unity AI Gateway. Coatue led the round, with Blackstone, MGX and T. Rowe Price Associates participating.
Finance
KakaoBank executives buy 21,100 treasury shares worth 464.8 million won
KakaoBank executives bought treasury shares worth 464.8 million won on the open market. A total of 12 executives purchased 21,100 shares from June to Aug. 12, a regulatory filing showed. The company said the purchases reflect executives’ commitment to mid- to long-term growth and to enhancing corporate value. KakaoBank targets assets of 100 trillion won in 2027 and a return on equity of 15 percent in 2030.
AI & Enterprise
Hyundai Motor Securities CEO Bae Hyeong-geun holds talks on change, innovation with junior staff
Hyundai Motor Securities held a dialogue session with its internal junior board to discuss changes in the management environment and ways to drive organisational innovation, including artificial intelligence and digital finance. The firm said CEO Bae Hyeong-geun met members of CLB, a junior employee communication body run for about 18 years. Participants shared experiences and ideas on work and organisational innovation, AI adoption and competitiveness. Bae stressed the need for change and innovation and called for employee participation.
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Telecommunications & Media
Broadcast Media Telecommunications Commission accepts applications for 2027-2028 public interest and disability welfare channels
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AI & Enterprise
South Korea science ministry gathers views on 'Korea AI ethics principles', to adopt in August
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Industry
LG Display steps up technology-focused culture with full rollout of Technology Academy
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AI & Enterprise
Beyond AI adoption, embedding operations is key to closing the scaling gap for digital-native companies
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Games & Commerce
Kakao Entertainment integrates three story subsidiaries to strengthen IP pipeline
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Finance
KB Financial releases 'Together We Sing, Korea Lived' video for 81st liberation anniversary
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Games & Commerce
Naver Chzzk to hold TFT influencer match at The Hyundai Seoul
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Games & Commerce
Playwith Korea unveils 'Seal M2' brand identity, targets Q4 launch
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Finance
Woori Bank launches mobile payment service for additional overseas remittance fees
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Finance
Shinhan Bank unveils Nara Sarang Card ad featuring ITZY's Yuna
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Finance
KOSPI reclaims 7,000 in intraday trade after 21 days on semiconductor gains and foreign buying
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Finance
Hana Bank teams up with Korea Association of Certified Tax Accountants to promote testamentary trusts and guardian system
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Finance
Toss donates about 60 network devices to Korea Radio Promotion Association
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Crypto
Standard Chartered says UNI burn surge may make 2030 $100 price target too low
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Crypto
Galaxy Digital CEO says U.S. fiscal deficits are positive for bitcoin, keeps bullish view