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AI & Enterprise

South Korea, Indonesia join hands on AI basic society with digital MOU from summit

South Korea and Indonesia agreed to cooperate to realise people’s basic rights through artificial intelligence technology and to narrow the digital divide, following a summit between their leaders. The Ministry of Science and ICT said the two sides signed a memorandum of understanding on digital development cooperation and would strengthen cooperation to expand an “AI basic society”, including building high-performance computing infrastructure. The leaders jointly announced an initiative for a global AI basic society coalition.

Industry

South Korean industry holds back large-scale green investment amid policy uncertainty

South Korean companies are increasing use of green bonds to finance the energy transition, but weak enforcement of the country’s green taxonomy is raising greenwashing risks, a report said. IEEFA found South Korea ranked second in financial development among ASEAN+3 economies but fourth in green finance development. It said the voluntary K-Taxonomy could allow fossil fuel-dependent projects to be labelled green, potentially limiting overseas funding as global standards tighten.

Industry

Namyang Dairy returns to operating profit as profitability-driven overhaul pays off

Namyang Dairy Products said on Wednesday it returned to an annual operating profit last year on a consolidated basis, posting 914.1 billion won in revenue and 5.2 billion won in operating profit. Operating profit swung from a 9.8 billion won loss a year earlier. Net profit improved to 7.1 billion won from 250 million won, while revenue grew 4 percent. The company cited a profitability-focused overhaul and announced a 31 billion won shareholder returns plan.