Busan Bank of South Korea completes pilot program for Korean won stablecoin on Kaia Chain.
Related
Citrini Analyst: China's CXMT tests pilot production line for bonding DRAM; South Korean media claims its technology and development speed may be ahead of its South Korean rivals.
According to a Odaily by Citrini analyst Jukan on the X platform, South Korean media reports that China's CXMT is currently testing a bonded DRAM pilot production line in Hefei, aiming to achieve high-performance DRAM without using EUV lithography. Bonded DRAM is a technology that manufactures the memory cell array and peripheral circuitry on separate wafers and then bonds them together. This method can produce ultra-high-density DRAM using only multi-patterned deep ultraviolet (DUV) lithography, without requiring EUV equipment. Samsung Electronics is developing its own bonded DRAM under Project B1b, and SK hynix is also advancing similar technology. South Korean media warns that assessments suggest CXMT may currently be ahead of its South Korean competitors in terms of both the technology itself and the speed of its development.
KT, a South Korean telecommunications company, plans to invest 18 trillion won to advance its Token Factory and stablecoin businesses.
According to a report by Digital Daily, South Korean telecom operator KT announced that it will invest approximately 18 trillion won over the next three years, with 12 trillion won allocated to information security, IT, and networks, and 6 trillion won to AI infrastructure, while also advancing its Token Factory and stablecoin businesses. KT plans to combine its 1GW-scale AI data center, token optimization engine, and billing and settlement capabilities to create a Token Factory that supports token generation, intermediation, and billing. Simultaneously, it intends to enter the stablecoin digital financial platform market, leveraging K Bank's 16 million customers, BC Card's 3.5 million merchants, and KT's network and security infrastructure to cover the entire ecosystem from issuance and custody to settlement and actual use.
South Korean beauty and retail stocks led the market gains, and Gate.com continues to expand its investment portfolio in South Korean stocks.
According to ChainCatcher, Gate's market data shows that the South Korean stock market was active today. Manyo Factory, a cosmetics stock, reached $11.60, up 18.43%; Heung Koo Petroleum reached $6.88, up 14.72%; and IT'S HANBUL reached $7.25, up 13.51%, with several popular South Korean stocks leading the market gains. Gate has established a 24/7 trading service system covering the three core markets of US, Hong Kong, and South Korea, supporting over 10,000 US stocks and ETFs, over 1,500 Hong Kong stocks, and over 1,000 South Korean stocks, totaling over 12,500 stocks and ETFs globally. Users can participate in global stock investment through their Gate unified account using USDT, supporting fractional share transactions starting from as low as 0.01 shares, and enjoying stock dividend rights. The platform also supports cross-brokerage transfers for US and Hong Kong stocks, as well as corporate actions such as stock splits and consolidations, further optimizing the stock investment service experience.
South Korean stocks plunge 20%, nearing a bear market; the AI boom faces the awkward situation of "the more disastrous the earnings, the steeper the decline."
According to BlockBeats, on Wednesday afternoon, July 8th, South Korean stocks extended their losses as investors reassessed the outlook for AI demand. The KOSPI index fell by more than 6% at one point, breaking below 7200 points, and has cumulatively fallen by more than 20% from its all-time high last month, poised to enter technical bear market territory. Memory chip maker SK Hynix fell by as much as 5%, and Samsung Electronics fell by 6.9%. The Korea Exchange initiated a temporary trading halt on the KOSPI index, suspending algorithmic trading. South Korean stocks were among the strongest performing markets globally this year, but their performance is highly dependent on SK Hynix and Samsung Electronics, amplifying volatility when sector sentiment weakens. Even with Samsung Electronics announcing a 19-fold surge in quarterly profits earlier this week, chip stocks continued to be under pressure. Jordan Klein, a TMT sector expert at Mizuho Securities, stated that investors overreacted to Samsung's preliminary second-quarter results. He believes this sell-off in semiconductor stocks is more a sign of waning momentum than a deterioration in fundamentals. Klein stated that excluding one-off bonus expenses, Samsung's operating profit actually significantly exceeded expectations, with its storage business implied operating margin potentially exceeding 80%. He indicated that Samsung's single-quarter operating profit has already surpassed the total of the past three years, and reacting to Samsung's stock price based solely on preliminary results is "extremely short-sighted." Meanwhile, an AI trading rotation occurred in Asian markets. Hong Kong-listed Chinese stocks rose, with the Hang Seng China Enterprises Index rising as much as 3.4%, the Hang Seng Tech Index rising over 5% intraday, Alibaba rising over 8%, and Tencent rising over 3%. Market analysts believe that funds are flowing from crowded trades focused on AI infrastructure to markets with lower valuations and more value-oriented characteristics. Reuters' report on DeepSeek's self-developed chip and The Information's report on Zhipu AI considering designing its own AI chip further fueled this rotation. (Jinshi)
Rebellions, a South Korean AI chip startup backed by Samsung Electronics, plans to IPO in South Korea next year.
According to reports, Sunghyun Park, CEO of Rebellions, a South Korean AI chip startup backed by Samsung Electronics, stated that the company plans to IPO in South Korea in the first or second quarter of next year. Park said that Rebellions has already begun generating actual revenue, "and for this reason, we are working with the underwriting teams at JPMorgan Chase and Samsung Securities to prepare for the IPO." (Jiemian)
Japanese and South Korean stocks closed lower, with South Korean stocks falling more than 5%.
According to Gate data, the Nikkei 225 Odaily closed down 1437.91 points, or 2.11%, at 66819.05 on Wednesday, July 8. The South Korean KOSPI index closed down 409.53 points, or 5.35%, at 7246.78 on Wednesday, July 8. The index briefly triggered a temporary trading halt during the session and has now fallen about 20% from its June high, approaching a technical bear market.