KOSPI closes higher as KB Financial and Seoul fund Korea's AI and robotics push

South Korea’s KOSPI index closed up roughly 1% for the day on Monday, July 27, as markets reacted to a wave of commitments from the government and private investors buying into the Asian country’s push to claim a stake in regional and global semiconductor, AI  and robotics relevance. 

The positive wave that started with Seoul’s $1 trillion plan for semiconductors, AI data centers, and robotics grew bigger this week as KB Financial Group rolled out its own 150 billion won venture fund backing for the sector. 

By the time the markets closed for the day, the conviction pushed the benchmark to 6,755.75, up from its 6,690.62 close the week before on Friday, according to Google Finance data.

Where is KB Financial investing its 150 billion won bet on Korean tech? 

The 150 billion won (roughly $100 million) KB Kookmin Growth Unicorn Scale-up Fund, revealed on July 27, plans to support about six South Korean firms in advanced fields such as AI, semiconductors, secondary batteries, aerospace, mobility, robotics, and bio. 

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