53% of Gen Z Say AI Has Made Cover Letters Obsolete in Hiring

*Editor's Note: 'AI PRISM' (Personalized Report & Insight Summarizing Media) is an 'AI-based customized news recommendation and summary service' developed with support from the Korea Press Foundation. It selects and provides six customized news items for each reader type.

1. One in Two Gen Z Job Seekers Say "Cover Letters Have Lost Discriminating Power Due to AI"

- Key Summary: According to a survey of 1,685 Gen Z job seekers by Catch, cover letters ranked first (36%) as the hiring process most in need of simplification. "Lack of discriminating power" was cited by 56% as the reason for wanting simplification, and a survey last year revealed that 91% of Gen Z job seekers use AI to write cover letters. As for AI-era appropriate hiring methods, 43% preferred streamlined paperwork with interview-focused selection, followed by project/internship-based (30%) and task-based competency verification (19%). Companies are also exploring new selection methods, with Aero K completely abolishing cover letters and switching to an experience portfolio approach.

2. 'Pre-Unicorn' Mangoboost Pursues 150 Billion Won Series B Investment

- Key Summary: Mangoboost, a DPU design company founded in 2022 by Seoul National University Professor Kim Jang-woo, is launching a 150 billion won Series B funding round at a valuation of approximately 700 billion won. The company has received acquisition offers from global semiconductor companies including Nvidia, AMD, and Intel, and rejected a specific acquisition proposal from Nvidia last year. With abundant liquidity as the National Growth Fund makes large-scale investments in the AI semiconductor sector, Mangoboost is considered one of the most promising startups in AI semiconductors alongside FuriosaAI and Rebellions. Demand for DPU and related semiconductor design talent is expanding due to surging AI data center infrastructure needs.

3. GS Chairman Huh Tae-soo: "Korea Must Become a Country That Uses AI Well Through Public-Private Cooperation"

- Key Summary: GS Chairman Huh Tae-soo stated at the third meeting of the Federation of Korean Industries' AI Innovation Committee that "the success or failure of global AI competition will be determined by the speed of transformation to the field." He explained that AX is directly linked to survival in industries where operational efficiency determines performance, such as refining, petrochemicals, and retail, with maintenance cost reduction and predictive equipment failure detection being key. He also emphasized that large companies should share their AI knowledge and models with SMEs to enhance the entire ecosystem's AI competitiveness. The National AI Strategy Committee has also proposed AX as a solution to declining working-age population and announced plans to pursue initiatives under the 'Republic of Korea AI Action Plan.'

4. Stocks Make You Dizzy, Crypto Is Scary... Should You Switch to Stable REITs?

- Key Summary: As asset market volatility increases due to the Iran war aftermath, the REIT market is emerging as an alternative investment destination. The combined market capitalization of 25 listed REITs has surpassed 10 trillion won, and while KOSPI fell 6.2%, the KRX Real Estate REIT Infrastructure Index actually rose. The government has also expressed its commitment to nurturing the market by specifying plans to pursue separate REIT taxation benefits, and introduced a project REIT system enabling investment participation from the development stage. For job seekers interested in personal finance, understanding the structure and tax benefits of REITs, which allow small-scale real estate investment, is analyzed to be helpful for asset building strategies in early career.