South Korea online platform stocks rally on hopes of cheaper AI

Kakao

31/01/2025 01:00

** Shares of South Korea's major online platform service
providers rally on hopes of cheaper costs for artificial
intelligence technologies after the launch of DeepSeek in China 
    ** Search engine Naver  035420.KS  rises as much as 7.1%,
set for biggest daily gain since Feb. 2, 2024
    ** Instant messenger Kakao  035720.KS  jumps as much as 5.6%
    ** "South Korean software and application firms using AI
technologies are given an opportunity for re-entry thanks to
cheaper costs" — Samsung Securities
    ** Chinese startup DeepSeek says its recently launched AI
models are on a par or better than industry-leading models at a
fraction of the cost
    ** The broader KOSPI market  .KS11  falls 0.8%, as
heavyweight chipmakers track recent losses in U.S. peers and AI
firms
    

 (Reporting by Jihoon Lee)
 ((jihoon.lee@thomsonreuters.com))