Seoul: South Korea's main bourse operator said Tuesday it has acquired a local artificial intelligence (AI) startup to accelerate its AI transformation and strengthen its data businesses.

According to Yonhap News Agency, the Korea Exchange (KRX) has acquired a 67 percent stake in Fair Labs Co. for 6.7 billion won (US$4.6 million), after reviewing some 30 candidates over the past year.

Established in 2020, Fair Labs uses AI to process various atypical data, such as news articles and regulatory filings, into information that can help investment-related decision making, KRX said.

The bourse operator plans to utilize the startup's technology in its market data businesses and development of investment products.