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People

KRX recommends Kim Woo-chan as Kosdaq market committee chair candidate

The Korea Exchange said its Kosdaq Market Committee has recommended Kim Woo-chan, a professor at Korea University Business School, as candidate chair of the Kosdaq Market Committee. Kim is expected to be appointed at an extraordinary general meeting of shareholders on July 6. The exchange said Kim has expertise in finance and corporate governance and has held roles at governance and reform institutes. He has also worked in government and academia and holds Harvard degrees.

Finance

Kosdaq stalls; policy momentum in focus after local elections

Hopes that the launch of a public-participation National Growth Fund would lift South Korea’s Kosdaq quickly faded as funds rotated back to large semiconductor stocks. The Kosdaq fell 2.29 percent on Monday, extending a five-session decline. Foreign investors bought Kosdaq shares, but institutions sold, weighing on the index. Market breadth in the KOSPI weakened, and smaller stocks lagged. Investors are watching post-election policy momentum and whether policy funds translate into broader demand.

AI & Enterprise

National Growth Fund bets 800 billion won on FuriosaAI, backs SK Bioscience too

South Korea\'s National Growth Fund will support domestic AI chipmaker FuriosaAI to expand mass production and develop next-generation chips, while also providing funding to Smilegate for an AI data centre project and to SK Bioscience for vaccine development and plant expansion. The Financial Services Commission approved five projects worth 4.14 trillion won, raising the fund\'s cumulative approvals to 12.5 trillion won across 16 projects. Support also includes loans for L&F Plus and funding for switchboard maker Geunu.