[Market Focus] Shinsegae I&C Soars Over 23% on News of Entry into AI Data Center Business
Shinsegae I&C has been on a steady rise following news of its entry into the artificial intelligence (AI) data center business.
![[Market Focus] Shinsegae I&C Soars Over 23% on News of Entry into AI Data Center Business](http://www.asiae.co.kr/news/img_view.htm?img=2026031709261177850_1773707170.jpg)
As of 9:15 a.m. on March 18, Shinsegae I&C was trading at 27,950 won, up 23.67% (5,350 won) from the previous trading day. The company had hit the upper price limit at the close of trading the previous day.
On March 16 (local time), Jung Yongjin, Chairman of Shinsegae Group, and Misha Laskin, CEO of the U.S. AI startup Reflection AI, signed a strategic partnership memorandum of understanding (MOU) at the National AI Center in San Francisco, United States, to establish a Korean sovereign AI factory.
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Based on this agreement, the two companies plan to build an AI data center in Korea with a capacity of 250 MW (megawatts). Shinsegae announced that, starting with the AI data center initiative, it aims to make AI a key pillar for future growth.
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