Korea’s SK Telecom to divest $277m worth of Kakao stocks

The Korean tech giant is seeking to reassure investors amid a volatile market; its shares surged on August 20.

The index provider cited unresolved market-accessibility issues for global investors, including limits around Korean won convertibility. Korean semiconductor giant SK Hynix is seeking direct access to US investors amid surging demand for AI memory chips.

The funds raised from a mix of government funds and private investors will help SK Telecom's online shopping site 11st better compete with bigger players Coupang and GMarket.

The Korean neocloud company’s turbulent first trading week reflects how investor scrutiny of the capital-intensive AI infrastructure is increasing.

The South Korean chipmaker's record $26.5bn Nasdaq debut was followed by a record sell-off in Seoul after weaker earnings expectations, even as analysts remain constructive on the longer-term AI memory cycle.

The Series D round values the Korean semiconductor startup at $2.9bn as it targets global commercialisation of its AI inference accelerator.