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AI & Enterprise

Govt launches repechage for sovereign AI foundation model project after first review

South Korea’s Ministry of Science and ICT said Naver Cloud and NC AI failed the first-stage assessment of the government-led sovereign AI foundation model project. The ministry had planned to eliminate only 1 team and assess 4 in the second stage, but only 3 remain. It will run an additional selection process open to all companies, including those dropped, to fill 1 slot and restore a four-team competition in the first half of this year.

Finance

Token securities legal framework takes first step as parliament passes revisions

South Korea’s National Assembly on Jan. 15 passed revisions to the Electronic Securities Act and the Capital Markets Act to introduce token securities and allow distribution of investment contract securities. The amended Electronic Securities Act defines distributed ledgers and recognises them as securities account books, enabling blockchain-based issuance. The Capital Markets Act revision expands trading routes by allowing brokerage of investment contract securities. The Financial Services Commission plans to refine subordinate rules ahead of a provisional January 2027 start and launch a token securities consultative body in February.

People

Korea Exchange chairman Jung Eun-bo joins youth illegal online gambling campaign

The Korea Exchange said Chairman Jung Eun-bo joined a relay challenge campaign on Jan. 15 aimed at eradicating illegal online gambling among teenagers. The public campaign was launched by the Seoul Metropolitan Police Agency in March 2024 to warn of risks and curb its spread. Participants post a photo with a set message and nominate the next person. Jung was nominated by Kang Young-gu and named Kim Sung-hwan and Lee Seok-ki as the next participants.