Krypton Evening News | Approximately 6 million people entered and exited Hong Kong during the May Day holiday; Google will build a new AI park in South Korea, confirmed by the South Korean presidential office; Large British enterprises generally have no idea how their data is used by AI overseas.
Large Companies:
Google to Build New AI Park in South Korea, Confirmed by South Korean Presidential Office
Kim Yong-beom, a policy advisor to the South Korean president, said on Monday that the South Korean government has reached an agreement with Google to jointly build an AI park in Seoul, deepening Google's cooperation with local South Korean tech talents and startups. Kim Yong-beom introduced that South Korean President Lee Jae-myung met with Demis Hassabis, the CEO of Google's DeepMind, in Seoul that day. The South Korean Ministry of Science and Technology and Google signed a memorandum of understanding on this AI park project.
French Auto Parts Supplier Forvia Sells Auto Interior Business for $2.1 Billion
French auto parts supplier Forvia has reached an agreement to sell its auto interior business to Apollo Global Management. Including debt, the valuation of this business segment is approximately $2.1 billion. This interior business relies on a global network of production and R & D bases covering Europe, North America, and Asia, supplying products such as dashboards, door interior panels, and center consoles to vehicle manufacturers.
Most Large UK Companies Unclear on How Their Data is Used by AI Overseas
A survey by research institution Harbr Data shows that most large UK companies are unclear about the specific uses of their sensitive data when processed by AI systems overseas, highlighting the risks brought by this rapidly developing technology. The research surveyed senior technology and data executives of UK companies with revenues exceeding £100 million. The results show that 61% of respondents cannot fully grasp how the data is processed overseas. The report points out that this problem mainly troubles corporate boards.
As the May Day holiday is approaching, the travel demand of users for tourism and returning home is surging. To encourage drivers to work during the holiday and meet users' travel needs, Didi will issue nearly 400 million yuan in driver subsidies to thank drivers for their dedication during the holiday. Didi has also launched ride-hailing discount activities in over 200 cities nationwide to provide users with affordable travel benefits and further stimulate users' travel demand. In addition, to ensure that passengers can efficiently hail a car and travel smoothly at key locations such as airports and train stations, under the guidance of local authorities, Didi has completed the upgrade of the travel experience at stations in 165 cities and 319 airports and train stations nationwide, helping to improve the travel efficiency at stations in many places.
Elon Musk at a Disadvantage in $180 Billion Lawsuit Against OpenAI
The lawsuit filed by Elon Musk against OpenAI has begun. Legal experts and prediction markets generally believe that Musk has little chance of winning when entering the federal court in Oakland. Since March, the average probability of his victory on the Kalshi platform has been about 40%, far lower than the 57% he boasted in January when he posted that he was "eager for the trial." Jeff Ward, a clinical law professor at Duke University and the director of the Duke Law and Technology Center, said when talking about Musk's chances of winning: "It's possible to win, but smart investors won't bet on him."
Metro China Appoints Andrew Miles, Former Executive of Sam's Club, as Executive Chairman
Metro China announced a new personnel appointment: starting from April 27, 2026, Andrew Miles will serve as the executive chairman of Metro Business Group, Xu Shaochuan will serve as the company's CEO, and Tino Zeiske will serve as an advisor. Andrew Miles once served as the deputy CEO of Walmart China and the president of Sam's Club.
Mark Gurman: Apple CEO Tim Cook is Handing Over an Important Product Line to Successor John Ternus
Technology journalist Mark Gurman said that Apple CEO Tim Cook is handing over an important product line to his successor John Ternus, including the foldable iPhone planned to be released in September.
New Products:
JD.com Upgrades AI Black Technology, Deeply Integrating Generative AI and 3D Rendering Capabilities
36Kr learned that recently, JD.com has upgraded its AI black technology. This function deeply integrates generative AI and 3D rendering capabilities, integrating three core functions: one-second object recognition, instant face try-on, virtual fitting, and 360° 3D product models. It is understood that in 2026, JD.com will continue to increase investment in the construction of AI devices and smart glasses categories, and will also set up AI smart zones in hundreds of offline stores.
Investment and Financing:
True Love Home Textiles: Tender Offer Results Announced, Resumes Trading on April 28
36Kr learned that True Love Home Textiles announced that as of April 21, 2026, the tender offer period of Guangzhou Tanjiyuanqing Technology Partnership (Limited Partnership) has expired. A total of 4 shareholder accounts have pre-accepted the tender offer, with a total of 18.7375 million pre-accepted shares, accounting for 13.01% of the total share capital. The acquirer will purchase the pre-accepted shares as agreed. After the acquisition, the acquirer will hold 61.9231 million shares of the company, accounting for 43.00% of the total share capital. The company's equity distribution still meets the listing requirements, and its listing status will not be affected. The company's stock will resume trading at the opening of the market on the morning of April 28, 2026.
Today's Views:
JPMorgan Says Investors Can Increase Allocation During Stock Market Weakness
JPMorgan strategists said that investors can increase their stock allocation when the stock market weakens. Although there are frequent geopolitical risk news, military, political, and economic constraints mean that the situation is unlikely to escalate in the long term. Although JPMorgan strategists are cautious about "AI risk stocks," they believe that these stocks may have a tactical rebound in the short term, but will ultimately sell during the rebound in 12 - 18 months. JPMorgan still overweights emerging markets rather than developed markets and is optimistic about the mining sector.
Other Noteworthy News:
About 6 Million People to Enter and Exit Hong Kong During May Day Holiday
The Hong Kong Special Administrative Region government said today (the 27th) that the Immigration Department expects that during the May Day Labor Day holiday in the Chinese mainland this year, about 6 million people (including Hong Kong residents and visitors) will enter and exit Hong Kong through various sea, land, and air control points. After consultations between the Immigration Department and mainland departments such as the Shenzhen Exit - Entry Border Inspection Station, it is expected that about 5 million people will enter and exit Hong Kong through various land - border control points. It is expected that the peak period for land departures will be on May 2, with about 636,000 departures, and the peak period for arrivals will be on May 3, with about 688,000 arrivals.
The Bank of England is about to hold a crucial monetary policy meeting. The market generally expects the Bank of England to keep the benchmark interest rate unchanged on April 30 and assess the potential impact of the Middle East situation on the UK economy. Investors will closely monitor the meeting results and the subsequent press conference to determine whether the Bank of England will signal a gradual tightening of monetary policy.