The South Korean KOSPI Index saw its intraday loss widen to 5%, now standing at 7423.16 points.
BlockBeats News, May 12th, according to Bitget data, Samsung dropped by 4.2%, while SK Hynix fell by 1.54%.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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Disney (DIS.US) reportedly plans to lay off thousands of employees, with some managers being asked to save 20% of annual costs.
According to informed sources, Disney (DIS.US) is planning to lay off thousands of employees. The entertainment giant has asked some managers to set their annual cost-saving targets at 20%.
South Korea launches record-breaking budget for AI: 4.7 trillion won to build a "global highest-performance" sovereign model
South Korean President Lee Jae-myung has announced the largest fiscal budget in history—820.9 trillion won, representing a 12.8% surge from the previous year. The investment in AI and semiconductor initiatives will double to 1 trillion won, with an additional 4.7 trillion won allocated specifically for developing a "world’s highest-performance" sovereign AI model. Robust exports provide real support for these ambitions: South Korea’s exports in October alone soared by 93.7% to a record $115.3 billions, with annual exports on the brink of surpassing the $1 trillions milestone.
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