Korea Exchange Makes First Startup Acquisition Since Founding, Accelerating AI Transformation

Organization-wide AI Transition and Technological Advancement
Securing Future Growth Engines

The Korea Exchange announced on the 10th that it has acquired data analytics startup Fairlabs to strengthen its business competitiveness through an organization-wide transition to artificial intelligence (AI) and technological advancement.

Jeong Eunbo, Chairman of the Korea Exchange, is speaking at a New Year's press briefing on the 5th. Korea Exchange

Over the past year, the Korea Exchange reviewed around 30 candidate companies in the AI and data sectors for this acquisition and selected the final target by considering technological capabilities and potential synergies.

Since its establishment in 2020, Fairlabs has built technological expertise in using AI to process unstructured data such as news, disclosures, IR, and ESG information into high value-added information that can be used for decision-making. It is also recognized for possessing both AI architecture design capabilities and industry application capabilities, as demonstrated by its provision of AI transformation (AX) consulting in collaboration with numerous public institutions.

Based on new investment resources, the Korea Exchange plans to strengthen Fairlabs' business foundation by reinforcing its professional workforce and technological infrastructure, and will maintain the existing founder-led management so that the innovative startup corporate culture can continue even after the acquisition.

In particular, the Korea Exchange plans to enhance the technological competitiveness of its existing information businesses, such as index and data services, and apply these enhancements to index management and product development. It will also gradually apply AI technology across overall market management work to improve the efficiency of the exchange's work and the quality of customer service. In the mid- to long term, it plans to support Fairlabs so that it can grow into an organization responsible for the Korea Exchange's core technology research and development and the creation of new revenue streams.

Jeong Eunbo, chairman of the Korea Exchange, said, "This acquisition is highly significant in that it is the first acquisition in the 70-year history of the Korea Exchange and also represents the first step toward transforming into a commercial revenue-generating organization, in line with leading global exchanges. Going forward, to secure future growth engines, we plan to expand a variety of business strategies, not only through corporate acquisitions but also through the exploration of new businesses and technological cooperation."