{
}
Korean AI startup Wrtn has successfully raised 108 billion won (US$73.5 million) in its series B funding round, marking a significant milestone as the first AI service platform outside the large-language model and semiconductor sectors to exceed 100 billion won in total investments. The funding, led by Goodwater Capital, includes 83 billion won from the series B round and 25 billion won from a pre-series B round. Wrtn's chat-based AI service has rapidly grown to over 5 million monthly active users, with monthly sales increasing from 1 billion won in November 2023 to 2 billion won in December 2023.
Shim Jong-min has been promoted to deputy CEO of UBS' Korea Global Banking Division, recognized as a next-generation leader in the investment banking sector. His notable achievements include consulting on major M&A deals, solidifying UBS's position in Korea's market.Additionally, Director Lee Ji-hoon has been elevated to managing director, emerging as a key figure in the industry alongside Shim. Both leaders have played crucial roles in significant transactions, reinforcing UBS's status in the domestic investment banking landscape.
Japan's GDP per capita is projected to plummet from 29th to 45th globally by 2075, with real GDP expected to grow to $4.4 trillion but drop its global ranking from fourth to 11th. Contributing factors include a declining population, low fertility rates, and limited benefits from AI advancements, necessitating urgent labor reforms to boost productivity. Meanwhile, emerging markets like India are set to rise significantly, with BRICS nations projected to surpass the US in total GDP by 2075.
Tesla is less impacted by Trump's new auto tariffs due to its largely domestic production and supply chain, with analysts noting potential benefits in the U.S. market. However, the company faces challenges in Europe and Canada, where reduced incentives and policy headwinds threaten demand. Despite a recent stock increase, Tesla's shares have dropped over 40% since December amid growing criticism and protests against the company.
The central bank has issued digital currency to seven banks, including Kookmin and Shinhan, as part of a pilot program. Meanwhile, Xiaomi plans to raise up to $5.27 billion through a share placement for business expansion and tech investment. In Japan, private equity firms are targeting the fragmented HR tech market, driven by low interest rates and a focus on governance, despite challenges from competition and global firms.
The Bank of Korea is actively testing a digital currency for potential real-world applications. This initiative marks a significant step in exploring the future of digital finance and its integration into everyday transactions. The outcomes of these tests could shape the landscape of monetary policy and consumer behavior.
The Bank of Korea will launch a digital currency pilot program, “Project Han River,” from April 1 to June 30, distributing digital currency to seven banks for use by 100,000 individuals at various retailers via QR code. Participants can register starting March 25, with a holding limit of 1 million won and a total cap of 5 million won. The initiative aims to streamline payment processes and reduce transaction fees while addressing issues like benefit fraud.
The Computer & Communications Industry Association (CCIA) has raised concerns over South Korea's ban on exporting high-precision map data, arguing it unfairly disadvantages international providers against local firms. The Korean government has not approved any export applications from foreign companies, jeopardizing an estimated $130.5 million in annual revenue for US mapping services. Additionally, the CCIA criticized South Korea's Cloud Security Assurance Program for creating further barriers for US cloud service providers.
US equity futures show cautious optimism as markets anticipate less severe tariffs than expected, with potential exemptions for certain countries. Attention turns to upcoming flash manufacturing and services PMI data, while Asian markets remain flat amid tariff uncertainties, particularly affecting Chinese equities. Gold prices are stabilizing after recent highs, with geopolitical risks still in focus.
South Korea's early March export data showed recovery from lunar new year distortions, driven by ships and chips, though consumer sectors lagged. In the US, job losses linked to trade taxes are reported, raising concerns about potential economic impacts if unemployment fears grow. Meanwhile, Japan's February consumer price data indicated slower inflation, and the Bank of England's Governor highlighted economic uncertainty, with the ONS suspending producer price data due to reliability issues.
South Korean Won
Currency
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Korean AI startup wrtn secures 73.5 million in series B funding
United States Dollar
South Korean Won
Antler Gold Inc.
Capstone Partners
Goodwater Capital V LP
KOR
USA
Show more
03:30 01.04.2025
ubs promotes shim jong-min and lee ji-hoon to leadership positions
09:14 31.03.2025
japan's economic decline projected by 2075 amid population challenges and reforms
United States Dollar
Indian Rupee
South Korean Won
Russian Ruble
Chinese Yuan
Nikkei Asia300 Investable Index
LUX
KAZ
KOR
CHN
IRL
CZE
BRN
IND
RUS
CHE
USA
SVN
BRA
JPN
Donald Trump
Show more
10:32 28.03.2025
Tesla poised to benefit from Trump's auto tariffs despite global challenges
Japanese Yen
United States Dollar
South Korean Won
Euro
Tesla, Inc.
MEX
CAN
JPN
CHN
FRA
KOR
GBR
USA
Elon Musk
Donald Trump
Show more
17:08 27.03.2025
private equity firms target japan's fragmented hr tech market for growth
United States Dollar
South Korean Won
XIAOMI-W
Industrial Bank of Korea
KOR
SGP
CHN
IDN
Timmy Loen
Joko Widodo
Jeffrey Sachse
Casey Abel
Ray Dalio
Thaksin Shinawatra
Susilo Bambang Yudhoyono
Show more
10:30 26.03.2025
bank of korea explores real-world applications for digital currency
05:48 25.03.2025
Bank of Korea launches digital currency pilot program for real-world testing
05:10 25.03.2025
US tech group opposes South Korea's ban on high-precision map data
09:15 24.03.2025
cautious optimism in markets as us tariff concerns ease
05:55 24.03.2025
global trade faces uncertainty as tariffs impact job markets and prices
Japanese Yen
South Korean Won
British Pound Sterling
United States Dollar
Bank of England
GBR
USA
KOR
JPN
Paul Donovan
Show more
09:57 21.03.2025
Trending
Subcategory
Corporate News
Stock Market Updates
Industry Trends
Banking Regulations
Finance Mergers & Acquisitions
Global Financial Events
Retail and Consumer Goods
CEO Changes
Central Bank Actions
Industry Mergers & Acquisitions
Global Trade Developments
GDP Growth & Recession Forecasts
Financial Scams and Security
Market Analysis and Predictions
Inflation and Monetary Impact
Government Policies
Government Economic Policies
Workplace Trends
Startups & Entrepreneurship
Supply Chain Management
Countries:
Companies:
The Goldman Sachs Group, Inc.
JPMorgan Chase & Co.
Tesla, Inc.
Apple Inc.
Barclays PLC
Bank of America Corporation
Wells Fargo & Company
Citigroup Inc.
Deutsche Bank Money Market PP
Morgan Stanley
Huawei Technologies CO. Ltd.
Lloyds Banking Group plc
Microsoft Corporation
UBS Group AG
Credit Suisse Lux Digital Healt
Amazon.com, Inc.
Banco Santander, S.A.
Credit Suisse Strategic Income I
NVIDIA Corporation
AXA SA
Currencies:
United States Dollar
Euro
Chinese Yuan
British Pound Sterling
Swiss Franc
Japanese Yen
Indian Rupee
Russian Ruble
Australian Dollar
Canadian Dollar
United Arab Emirates Dirham
Indonesian Rupiah
Saudi Riyal
South Korean Won
Danish Krone
Offshore Chinese Yuan
Turkish Lira
Hong Kong Dollar
Mexican Peso
Malaysian Ringgit
People: