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Finance

KOSPI hits 8,000 as debate returns over reviving financial investment income tax

With the KOSPI heating up and breaking above 8,000 intraday, debate has resurfaced over reviving South Korea’s financial investment income tax. Labour and civic groups call for normalising taxation of financial income, arguing capital income is insufficiently taxed compared with wages. President Lee Jae-myung has also raised the need to reform securities transaction and capital gains taxes. Opponents warn the tax could hurt sentiment and spur outflows, while the government has not formalised reintroduction.

AI & Enterprise

Mistral CEO says Europe has 2 years to build AI infrastructure or face permanent dependence on U.S.

Europe has only two years to build its own AI infrastructure before becoming permanently dependent on U.S. big tech, Mistral CEO Arthur Mensch has warned, Business Insider reported. Speaking at a French National Assembly hearing on digital sovereignty and AI, he said the outcome would be decided within two years. Mensch said Europe risks losing control not only of AI models but also of energy and computing infrastructure, and warned it could become a “vassal” if it keeps importing U.S. digital services.

Finance

FSC begins designing tokenised securities market structure, reviews trading limits and licensing requirements

South Korea\'s Financial Services Commission is accelerating detailed rule design for tokenised securities ahead of the制度\'s rollout. It held a second public-private meeting on May 15 to discuss frameworks for issuance, distribution and infrastructure, and reviewed issues tied to planned July revisions to subordinate regulations and guidelines. The group discussed eligibility of underlying assets, possible permission for bundled assets in limited cases, and preparations for broader tokenisation. It also debated OTC exchange licensing, dual-business scope and trading limits.