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Crypto

Aptos to invest $50 million to expand AI-based financial infrastructure

Layer 1 blockchain Aptos said on May 7 it will carry out a $50 million co-investment as part of efforts to expand artificial intelligence-based financial infrastructure. The Aptos Foundation and Aptos Labs said they will continue developing an in-house financial platform and conducting technical research. They also plan to consider investments in companies in AI and institutional-grade asset management. The investment will cover trading infrastructure and AI, spanning existing and future investment plans.

People & Appointments

Ryu Je-myeong discusses AI cooperation with Kenya and Kosovo

Ryu Je-myeong (류제명), second vice minister at South Korea's Ministry of Science and ICT, held separate bilateral meetings on May 7 with John Tanui, Kenya's vice minister for ICT and the digital economy, and Kosovan minister for digitalisation and public administration Lulëzon Jagxhiu. They discussed cooperation in artificial intelligence and data. The Kenyan and Kosovan officials visited South Korea to attend Korea Green Innovation Day.

Telecommunications & Media

TVING posts 19.2 billion won Q1 operating loss, down 6.5 billion won year-on-year

TVING, a streaming service, posted an operating loss of 19.2 billion won in the first quarter, narrowing the loss by 25.3 percent from a year earlier. Revenue rose 20.7 percent to 107.3 billion won. Subscribers grew 37.3 percent over the past year as partnership products expanded, and advertising revenue increased 35.3 percent, helped by exclusive content and the World Baseball Softball Confederation (WBC).