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AI & Enterprise

AIDC special act clears science and ICT panel; power exemption debate looms in judiciary review

South Korea’s National Assembly Science, ICT, Broadcasting and Communications Committee on April 14 passed a special act on AI data centres (AIDC). The bill must still be reviewed by the Legislation and Judiciary Committee and approved at a plenary session. The consolidated proposal focuses on easing power and licensing rules, including exemptions for non-capital AIDCs and broader direct power purchase contracts. Disputes are expected over expanded power-related exemptions.

Finance

Korea Exchange says KOSPI hits 6,000 with top gain among major markets

South Korea’s KOSPI index broke above 6,000 for the first time on Tuesday, reaching the milestone one month after first crossing 5,000. It hit an intraday high of 6,144.71 and closed at 6,083.86. Market capitalisation rose to a record 5.017 quadrillion won, up more than 750 trillion won from the level at 5,000. The Korea Exchange held a ceremony and officials pointed to sector rotation and capital market policy effects.

Finance

Treasury share cancellation mandate clears parliament legislation committee

A third set of revisions to South Korea’s Commercial Act requiring the cancellation of treasury shares cleared the National Assembly’s Legislation and Judiciary Committee under the Democratic Party’s lead. The panel approved the bill 11-6, with all People Power Party members voting against it. The bill sets deadlines for cancellation and fines for violations, with exceptions for certain employee-related purposes and a three-year disposal rule for firms with foreign ownership limits.