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AI & Enterprise

Shinsegae chairman Chung Yong-jin attends Foundry School launch ceremony

Shinsegae Group said its Chairman Chung Yong-jin attended the launch ceremony of Foundry School in Washington on Sept. 3 local time. The U.S. State Department-led project aims to foster future talent for manufacturing and advanced industries through industry-academia cooperation. U.S. officials and ReflectionAI’s CEO highlighted Shinsegae’s partnership with ReflectionAI. Shinsegae said it is working on establishing a joint venture and selecting a site for a large AI data centre project in South Korea.

Crypto

U.S. SEC cracks down on AI pre-IPO stock investment frenzy, demands proof of actual stakes

The U.S. Securities and Exchange Commission is moving to verify the substance of pre-IPO stock investment products sold by investment firms, as demand rises for exposure to popular AI startups such as OpenAI and Anthropic. The SEC has told registered investment advisers to prove their special purpose vehicles actually hold the promoted stakes or exposure. The agency has previously pursued similar cases and has warned that tokenisation does not itself guarantee ownership.

Industry

Ryu Jae-cheol (류재철) says LG Electronics making physical AI bet to drive meaningful change

Ryu Jae-cheol, CEO of LG Electronics, hosted a North America Tech Conference in San Francisco on Aug. 29 to secure overseas R&D talent, the company said. About 100 participants attended, including PhD researchers from major U.S. universities and experienced R&D staff from big tech and startups. LG Electronics presented robotics, AI data center cooling and mobility as key growth pillars based on physical AI, and outlined data and manufacturing strengths.