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AI & Enterprise

Vice minister Gu Hyeok-chae visits youth deeptech startups, hears voices from the field

Gu Hyeok-chae (구혁채), first vice minister of South Korea\'s Ministry of Science and ICT, visited Sungkyunkwan University\'s startup incubator in Suwon on July 3 to review innovative technologies and meet young entrepreneurs. The visit marked the 20th stop of the field-focused science and technology policy initiative \"Project Gonggam118\". Gu toured resident startups including Mimetics and Crois and discussed ways to support early-stage deeptech companies.

Industry

MSIT, education ministry select four national research labs with annual 10 billion won support

South Korea has selected four university-affiliated research institutes as National Research Labs (NRL 2.0) to lead basic research. The Ministry of Science and ICT and the Education Ministry said support will begin on July 1. Each lab will receive up to 10 billion won a year for up to 10 years, though 5 billion won will be provided this year for six months. Funding levels may change depending on future budgets.

Games & Commerce

From Kakao to Line Yahoo: KakaoGames launches new management setup

KakaoGames has launched a co-CEO management structure as it accelerates a shift to a Line Yahoo-led setup following a change in its top shareholder. Shareholders approved the appointment of Kim Tae-hwan and Lee Si-woo as inside directors, and the board later named them co-CEOs. The company said 300 billion won in new funds flowed in through a share sale and convertible bonds. Key tasks include detailing Line Yahoo synergies and delivering results from new game launches in the second half.