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AI & Enterprise

K-AI models deployed across public administration, from R&D budget reviews to elderly care

South Korean AI models are being deployed across public administration, from government R&D budget reviews to services for seniors living alone. The Ministry of Science and ICT said domestic models from Upstage, LG AI Research and Naver are being integrated into central and local government work. The rollout includes a shared AI platform for government networks, development of science-focused models through the K-Moonshot programme and an AI competition using K-AI models.

Finance

KakaoPay Securities\' RIA accounts top 50,000 as profit-taking funds shift to South Korean semiconductors

KakaoPay Securities said its returning-to-Korean-stocks account, known as RIA, surpassed 50,000 openings as of May 6, about 45 days after launch. The company said funds from profit-taking in overseas AI and semiconductor stocks such as Nvidia and Tesla moved into South Korean bellwethers including Samsung Electronics and SK Hynix. It said AI and semiconductor themes accounted for the largest share of top holdings in both overseas and domestic stock portfolios.

Industry

Shinsegae chairman Chung Yong-jin apologises to public over Starbucks controversy

Chung Yong-jin (정용진), chairman of Shinsegae Group, issued a public apology over a Starbucks Korea marketing controversy. He apologised to families of the May 18 Democratic Uprising, the family of activist Park Jong-chul, citizens of Gwangju and the public. Shinsegae had already dismissed Starbucks Korea CEO Son Jeong-hyeon and an executive. Chung said he would accept full responsibility, order an investigation and disclose results, overhaul marketing reviews across affiliates and conduct history and ethics training for staff.