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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.

Industry

Samsung Electronics labor talks break down, raising fears of May 21 general strike

Samsung Electronics and its labor union failed to reach a deal in post-mediation talks at the National Labor Relations Commission, raising the likelihood of a general strike on May 21. The sides could not narrow differences over performance bonus standards and caps. The union said 41,000 members had expressed willingness to join the strike. Samsung expressed regret and said it would keep talking. The government urged principle-based negotiations and said a strike must not happen.

AI & Enterprise

Science ministry, finance ministry to hold AI innovation challenge for public agencies

South Korea\'s Ministry of Science and ICT and the Ministry of Finance and Economy will hold a Public Agency AI Innovation Challenge, organised by the National Information Society Agency. The event is one of 14 tracks under a nationwide AI competition that opened on March 26. It will run in two divisions covering AI service demonstrations and proofs of concept, and best practices in using AI. Public agencies can apply from June 1 to Aug. 28.