Waiker, a South Korean startup specializing in AI-driven financial news solutions, is now supplying an AI journalist solution to Chosun Ilbo, the largest media company in South Korea, focusing on various disclosures of numerous US companies.
The newspaper company has decided to collaborate with a startup for the first time since its establishment (1920), launching ‘Seohakgaemi-Bot’. A popular term in Korea which refers to mom-and-pop investors in Korea who actively invests in US stock market. Therefore, mutual users of both Waiker and Chosun Ilbo have immediate access to the AI-powered global stock market content that empowers more informed, smart, and timely decisions.
Acquiring US stock information and data was as difficult task for Korean investors for several reasons. Firstly, with all documents being written in English, Korean investors faced difficulties in interpreting the necessary content due to its language barriers. In addition, as US listed companies’ disclosures are not standardized, unlike disclosures of listed companies in Korea. Thus, complexities across the documents with varying structures made it difficult for Korean investors to interpret.
However, Waiker extracts and summarizes key information contained in disclosures based on AI natural language processing and machine comprehension technology, providing customized convenience for easy access. Remarkably, this entire process, crucial in the fast-paced stock market where time and information equate to money, takes an average of just 8 seconds.
Chosun Ilbo plans to receive various topics in article form from Waiker, including quarterly earnings release, changes in beneficial ownership, real-time price fluctuations, real-time 52-week high/low stocks, major ETFs, portfolio of the gurus, daily market briefs, top stocks purchased by Koreans, and many more.
The value of Waiker’s product can be easily noticed in regarding the size of the US stock market capitalization. The US stock market, boasting a market capitalization of approximately $52.26 trillion, accounts for about 62% of the global market capitalization, roughly 22 times larger than the Korean stock market, which is valued at $2.42 trillion. The world's top companies in terms of market capitalization are dominated by US companies. GAFAM (Google, Apple, Facebook, Amazon, Microsoft) all exceed $1 trillion, occupying ranks 1 to 6. The highest-valued Korean company, Samsung Electronics, stands at approximately $442 billion, ranking 14th globally.
The US stock market is favored by both corporate and individual investors due to its abundance in liquidity. Moreover, purchasing US stocks has the effect of holding dollar assets, naturally enhancing the asset value of investors. Particularly, from January 1, 2019, to the present, the S&P 500 index has risen by 90.1%, while the KOSPI index has increased by 46.61% during the same period, underscoring the abundant potential and market value of US stocks.
The US stock market is highly liquid and preferred by both corporations and individual investors. Furthermore, investing in US stocks has the effect of holding dollar-denominated assets, naturally increasing the value of investors' assets. Additionally, since January 1, 2019, the S&P 500 index has risen by 90.1%, while the KOSPI (most representative index in South Korea) has increased by 46.61% during the same period. With such information, it is easy to confirm the abundant potential and value of US stocks.
Through Chosun Ilbo's Seohakgaemi-Bot, Waiker now provides readers with the world's fastest and accurate data and information. The scope of stock market articles will also be expanded. Furthermore, Waiker plans to accelerate supplying domestic and international stock market data and content to financial institutions, media companies, and other customers with demand for such content.