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AI & Enterprise

AI startups need markets, not technology; government should be first customer

Industry participants at the AXIS 2026 conference in Seoul said AI startups lack markets and first customers rather than ideas or technology, and urged the government to play an early-market role. Korea Startup Forum Chairman Jae-won Kim (김재원) said Korea has the layers needed for an AI powerhouse but needs the government to act as a customer. Companies cited public demand, regulation and domains such as defence and disaster response. Officials and lawmakers voiced support for first-use and purchase projects.

AI & Enterprise

Retriever raises pre-seed funding to speed development of AI-based security certification automation solution

Retriever, which provides the AI-based information security management system certification response automation solution Klarisk, said on June 9 it raised pre-seed funding from Mashup Ventures. The company said Klarisk uses AI to automate governance, risk and compliance work by analysing corporate data to identify compliance status and risks and suggest improvements. Retriever also secured up to 500 million won in R&D funds through the TIPS programme and is conducting technology verification with NH cooperative partners.

Finance

ELS fines cut to 600 billion won after local elections, financial policy in focus

With the June 3 local elections over, attention in South Korea’s financial sector is shifting back to financial authorities and the National Assembly. Issues that lost traction during the campaign, including governance reform at financial holding firms, digital asset regulation, loan rules for non-resident single-homeowners and a compensation liability system for voice phishing, may return to the agenda in the second half. Regulators have also adjusted ELS sanctions and stepped up work on consumer protection and AI security threats.