Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

OpenAI moves forward with office plans in South Korea’s booming AI market

Source Cryptopolitan

OpenAI is set to open its first office in South Korea to match the growing demand for ChatGPT in the area. South Korea ranked second globally in paying subscribers.

Earlier this year, OpenAI announced its partnership with the Korean chat app, Kakao. The company also launched AI products with features tailored to the South Korean market. This week, OpenAI is back in South Korea, this time to set up its first office in the country.

OpenAI expands into Seoul

OpenAI is officially setting up its first office in South Korea as the demand for artificial intelligence services in Asia continues to grow.

The U.S.-based company behind ChatGPT confirmed on Monday that it has established a legal entity in South Korea and recognizes the country as a major hub for AI adoption and innovation. South Korea currently ranks second on the list of paying ChatGPT subscribers, with only the United States ahead.

“South Korea’s full-stack AI ecosystem makes it one of the most promising markets in the world for meaningful AI impact, from silicon to software, and students to seniors,” OpenAI’s Chief Strategy Officer, Jason Kwon, said in a statement.

Kwon is currently in Seoul for talks to fuel its international expansion.

Korea’s appetite for artificial intelligence tools is currently surging across industries from education and software development to entertainment and public services. OpenAI has already started hiring local talent to support new partnerships, product localization, and market operations.

More details about its South Korean strategy are expected to be announced in the coming months.

Political support for AI

In addition to its corporate expansion, OpenAI’s presence in South Korea has taken on slight political significance. The company recently held a meeting with the presidential campaign of Lee Jae Myung, the candidate for the Democratic Party of Korea, to discuss methods for cooperation in the AI sector.

The meeting, held at a hotel in Seoul, included OpenAI executives, and the discussion centered around their goals for AI development in South Korea.

Lee Jae Myung has chosen artificial intelligence as the pillar of his economic vision for the country. If elected, he has pledged to invest approximately 100 trillion won, approximately $73.46B, into the industry.

Lee aims to elevate South Korea into the ranks of the world’s top three AI powerhouses. His plan includes creating state-run investment funds specifically for AI companies and sharing returns with the public through tax benefits.

In a recent Facebook post, Lee said he would “open up an era of 100 trillion-won AI investment and make South Korea a global hub for digital and AI innovation.”

The growing political momentum behind AI, along with the already strong public adoption of AI, creates a favorable environment for OpenAI to expand.

The company already signaled its intent to strengthen its hold within Korea earlier this year when it announced plans to develop AI products tailored to the South Korean market in partnership with Kakao, the country’s leading chat app operator.

Kakao is known for its deep integration into Korean digital life and offers OpenAI a gateway into everyday use cases and large-scale data localization efforts.

Jason Kwon is expected to meet with officials from both the ruling People Power Party and the opposition Democratic Party during his stay in the country. These cross-party discussions suggest that South Korea’s AI push may receive bipartisan support, potentially making the country a long-term and politically stable partner in OpenAI’s international expansion ambitions.

KEY Difference Wire helps crypto brands break through and dominate headlines fast

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

October hike odds climb toward 60% as Goldman and BofA both flip — what Warsh's "dose of accommodation" really changed Rate futures now price roughly 55% to 62% for a 25bp hike at the October 27-28 FOMC, up from about 30% before Chair Warsh's post-meeting framing that the Fed is merely "removing some accommodation." Goldman Sachs has added an October hike to its forecast and Bank of America now sees moves in both October and December. Here is the repricing, the language behind it, and the two data points that decide it.

Author Irene Q.

Sep 23, Wed

Rate futures now price roughly 55% to 62% for a 25bp hike at the October 27-28 FOMC, up from about 30% before Chair Warsh's post-meeting framing that the Fed is merely "removing some accommodation." Goldman Sachs has added an October hike to its forecast and Bank of America now sees moves in both October and December. Here is the repricing, the language behind it, and the two data points that decide it.

Four jobs reports in five days: what JOLTS, ADP, claims and the September payrolls mean for the October Fed decision The US labour market faces its densest data week of the month. JOLTS job openings land Tuesday (7.2 million expected), ADP on Wednesday (70,000 expected), initial claims on Thursday and the September non-farm payrolls on Friday (100,000 expected, down from 162,000). Markets price a 64%-70% chance of another quarter-point Fed hike on October 28. The dollar index sits at 100.77 and the S&P 500 at 7,729.8.

Author Mitrade

Sep 28, Mon

The US labour market faces its densest data week of the month. JOLTS job openings land Tuesday (7.2 million expected), ADP on Wednesday (70,000 expected), initial claims on Thursday and the September non-farm payrolls on Friday (100,000 expected, down from 162,000). Markets price a 64%-70% chance of another quarter-point Fed hike on October 28. The dollar index sits at 100.77 and the S&P 500 at 7,729.8.

Nvidia's $150 billion buyback landed — and the AI sector fell anyway. That's the signal worth trading Nvidia closed up 1.68% at $228.86 on 28 September after announcing a $150 billion share repurchase authorisation, the largest single corporate buyback on record, while the rest of the AI complex sold off: AMD -3.6%, Micron -2.6%, Meta -4.8% and the Philadelphia Semiconductor Index -1.61%. The divergence is not noise. Capital is rotating toward cash-flow certainty, not abandoning the AI theme. With Micron reporting after the close on 30 September, here is what the split means.

Author Irene Q.

Sep 29, Tue

Nvidia closed up 1.68% at $228.86 on 28 September after announcing a $150 billion share repurchase authorisation, the largest single corporate buyback on record, while the rest of the AI complex sold off: AMD -3.6%, Micron -2.6%, Meta -4.8% and the Philadelphia Semiconductor Index -1.61%. The divergence is not noise. Capital is rotating toward cash-flow certainty, not abandoning the AI theme. With Micron reporting after the close on 30 September, here is what the split means.

【Daily Brief】30-year Treasury tops 5.59%, S&P 500 slips to 7,670 and gold holds $4,180 — PCE lands tonight The 30-year Treasury yield closed at 5.59%, its highest since June 2002, and the Dow fell 131.59 points to 51,349.92. US consumer confidence dropped to 81.9, a 12-year low, and JOLTS job openings fell to 7.1 million. August PCE and Q3 GDP both land at 8:30am ET tonight.

Author Suzie

Sep 30, Wed

The 30-year Treasury yield closed at 5.59%, its highest since June 2002, and the Dow fell 131.59 points to 51,349.92. US consumer confidence dropped to 81.9, a 12-year low, and JOLTS job openings fell to 7.1 million. August PCE and Q3 GDP both land at 8:30am ET tonight.

Gold falls to near $4,150 as higher Treasury yields, oil prices outweigh softer PCE inflation Gold price (XAU/USD) tumbles to near $4,150 during the early Asian session on Thursday, pressured by elevated US Treasury bond yields. Traders await the US September employment data for fresh impetus, which will be released later on Friday.

Author FXStreet

23 hours ago

Gold price (XAU/USD) tumbles to near $4,150 during the early Asian session on Thursday, pressured by elevated US Treasury bond yields. Traders await the US September employment data for fresh impetus, which will be released later on Friday.

Popular Symbols