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AI & Enterprise

OpenAI holds first Model Masters in South Korea; 11 startups showcase AI services

OpenAI held its first OpenAI Model Masters event in South Korea to support AI service development by local startups, it said on Oct. 26. Eleven startups participated in the event at OpenAI’s Seoul office on Oct. 23 and showcased products and features using OpenAI models. OpenAI provided API credits to venture capital-recommended startups to support development and experiments. Cutback won with its AI video editing solution, Selects.

AI & Enterprise

Korea to keep support for two domestic AI foundation model teams to 2027; frontier AI tender possible in December

South Korea will continue supporting two final teams developing a domestic AI foundation model through 2027, as originally planned, while launching a separate frontier AI development programme. The Science and ICT ministry plans to select two teams in February after evaluating the current round ending in late January. The frontier AI project would use a government stake to draw large private investment, with a tender possible in December after the 2027 budget is approved.

Finance

Global financial firms step up push into South Korea, targeting retail ETFs and institutional alternatives

Global financial firms are increasingly turning to South Korea as they expand local footholds to target demand from retail investors for overseas investment products and from insurers and pension funds for alternative assets. Alternative investment manager Hayfin said it will broaden cooperation with Korean institutional investors via its Seoul office. U.S. ETF managers Tradr ETFs and Tuttle Capital Management cited sizable Korean ownership in their assets.