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AI & Enterprise

Science ministry holds on-site meeting with young AI startups

South Korea's Ministry of Science and ICT said on Wednesday it visited Venturium, a youth AI startup incubation space run by the Korea Telecommunications Operators Association, and held a meeting with young entrepreneurs. Six AI startups attended along with venture capital firms and accelerators. Startups asked for support in securing infrastructure such as GPUs, mentoring from experienced entrepreneurs and help with investment and growth through competitions. The ministry said it plans another contest in the first half of 2027.

Telecommunications & Media

MSIT to overhaul method for calculating spectrum reallocation fees

South Korea's Ministry of Science and ICT will begin work to improve the system used to calculate fees for spectrum reallocation. The ministry said on Aug. 13 it will form a research panel of experts in law, economics and management, and technology, and hold a kickoff meeting. The government reallocates needed spectrum when usage periods end, and sets fees under radio wave laws based on spectrum's economic value.

Crypto

Hekto Innovation, BEATOZ to cooperate on hybrid blockchain stablecoin business

IT information services firm Hekto Innovation signed a memorandum of understanding with digital finance infrastructure company BEATOZ to cooperate on a hybrid blockchain-based stablecoin business, it said on Aug. 13. The companies plan to combine blockchain infrastructure and digital asset wallet technology to work across stablecoin issuance, distribution and use. They will launch a proof of concept verifying processes from issuance to burning, using Hekto Group employee welfare points in a limited environment.