PUBG powers Krafton to record Q3 earnings

Krafton, the South Korean gaming giant behind the popular title PUBG: Battlegrounds, on Thursday posted record-breaking financial results for the third quarter of 2024, fueled by strong demand for its flagship game and ongoing investments in artificial intelligence. The company reported third-quarter revenue of 719.3 billion won ($516.18 million) and an operating profit of 324.4 billion won, reflecting year-over-year increases of 59.7 percent and 71.4 percent, respectively. This strong performan

CompaniesNov. 7, 2024

Chipmakers urged to leverage AI edge in tackling uncertainties

Donald Trump's second presidency is unsettling the chip industry globally, after the outspoken leader had publicly threatened during his campaign to cut subsidies for chipmakers and raise tariffs on foreign firms. South Korea, home to the world’s top two memory chip-makers, is no exception. Experts suggest that Korea should leverage its strengths in artificial intelligence chips and further bolster ties with the new US administration. One of the imminent concerns is the possibility of

IndustryNov. 7, 2024

Yoon dismisses North Korea’s drone incursion claims

President Yoon Suk Yeol on Thursday struck down claims raised by North Korea that South Korean uncrewed aerial vehicles had entered its skies. “It’s not worth responding to these claims when it is North Korea that is in the wrong,” he said. The president’s remarks came in response to a question from a reporter during a press conference held at the presidential office in Yongsan-gu, central Seoul. “North Korean drones have crossed the border into our skies 10 times a

PoliticsNov. 7, 2024

Korea on alert over reshaped global economy during Trump's 2nd term

The export-reliant Korean economy is bracing for Donald Trump’s return to the White House, with the energy and high-tech sectors here expected to bear the brunt of the US policy shift centered on his trade protectionism and the rollback of Joe Biden's green energy push. Korea’s Finance Minister Choi Sang-mok said on Thursday he expected considerable changes in external economic conditions in the wake of President-elect Donald Trump's victory over Vice President Kamala Harri

EconomyNov. 7, 2024

Seoul shares close tad higher amid Trump policy uncertainties

South Korean stocks finished slightly higher to end a two-session losing streak Thursday as investors scurry to gauge the potential impact of the upcoming President-elect Donald Trump administration's policy on key sectors like semiconductors, EV batteries and shipbuilding. The Korean won edged down against the US dollar. After opening slightly lower, the benchmark Korea Composite Stock Price Index added 1.12 points, or 0.04 percent, to close at 2,564.63. Trade volume was moderate at 447 mi

MarketNov. 7, 2024

‘Trump may seek surprise NK deal at expense of Seoul’

With Donald Trump positioning himself for a second term in the White House, he and North Korean leader Kim Jong-un may renew summit talks, potentially reaching a deal that sidelines South Korea’s key interests, Seoul-based analysts warned. Observers caution that Trump could, for instance, tactically acquiesce to North Korea's nuclear weapons possession in exchange for a freeze on the development of intercontinental ballistic missiles capable of targeting the US mainland -- a concessio

Foreign AffairsNov. 7, 2024

Moliere-winning Joel Pommerat’s 'Tales and Legends' brings story of human-android coexistence

Acclaimed French playwright and director Joel Pommerat, celebrated with nine Moliere Awards, has brought one of his original productions to Korea for the first time. His 2020 production “Tales and Legends,” set in a near future that features androids, is onstage at the LG Arts Center from Thursday to Sunday. While several of Pommerat’s works, such as “This Child” and “The Reunification of the Two Koreas,” have been translated and performed in Korea by lo

PerformanceNov. 7, 2024

French beef import to resume after 24 years

The import of French beef to Korea resumed for the first time in 24 years on Monday, with the French embassy in Korea and French experts touting it as a good opportunity for Koreans to enjoy diverse and quality meat produced in a sustainable way. Of the 22 kinds of beef produced across France, the country’s most representative and common Charolais beef is to be sold in Korea, both frozen and refrigerated. France, the largest producer of beef among EU countries with 17 million heads of catt

FoodNov. 7, 2024

Yoon apologizes but denies wife's role in state affairs

President Yoon Suk Yeol on Thursday apologized to the public for causing worry over escalating concerns regarding an election interference scandal involving Yoon and his wife Kim Keon Hee, but defended her, saying she did not meddle in state affairs. "No president is giving an excuse. It's all my fault," Yoon said. Yoon's first public apology since his inauguration in May 2022 came at a press conference held in an apparent bid for a breakthrough in his policy reform drive. He has been

PoliticsNov. 7, 2024

Allies face test with return of Trump’s transactional diplomacy

Donald Trump’s return to the White House would propel South Korea to reassess fundamentally its alliance strategy, prompting preparations for trading, deal-centered diplomacy tailored to his transactional approach -- in which there seem no exceptions, even for treaty-bound allies like South Korea. Observers in Seoul warn that Trump’s policies may bring significant challenges and pressures in three key areas: demands to renegotiate the defense cost-sharing agreement for increased cont

Foreign AffairsNov. 7, 2024

Yoon, Trump agree to meet 'at early date' in 12-minute call

South Korean President Yoon Suk Yeol said Thursday that he and US President-elect Donald Trump agreed to “meet at an early date” to discuss possible resolutions on North Korean provocation and the prosperity of the alliance, in a 12-minute phone call held early in the day. "We talked for some 10 minutes on the phone at 8 a.m. I, of course, offered him my congratulations first and discussed several (issues) including (the need) to build strong solidarity and partnerships in the A

PoliticsNov. 7, 2024

'Trump trade' shakes up markets

With Donald Trump winning the US presidential election, the “Trump trade” flowed into the South Korean stock market, with shares of defense and shipbuilding firms surging. The value of the local currency against the US dollar dropped to a two-year low. Shares of defense companies jumped, with investors anticipating robust earnings on the potential for escalated geopolitical risks. Furthermore, Korea could face renewed pressure to pay more in its defense cost-sharing arrangement with

MarketNov. 7, 2024

Korean auto, battery firms buckle up for second Trump term

Korean automakers and battery-makers now face the daunting task of coping with a second Donald Trump administration, as they try to prepare various measures to weather the storm of uncertainties expected from the next president of the United States. Throughout his election campaign, Trump has openly criticized the Joe Biden administration’s Inflation Reduction Act and its Advanced Manufacturing Production Credit that have given financial benefits to Korean companies in the electric vehicle

IndustryNov. 7, 2024

Hyundai Motor edges closer to global No. 2 carmaker in profit

Hyundai Motor Group has outpaced Volkswagen Group in the third-quarter profit, edging closer to claiming the world’s second-largest carmaker title this year for the first time. From June to September, Hyundai Motor Company, Kia and Genesis posted 69.4 trillion won ($49.7 billion) in sales revenue and 6.5 trillion won in operating profit. Volkswagen Group reported higher sales of 78.5 billion euros ($84.2 billion), but it fell behind in profit with 2.9 billion euros. This marks a significan

MobilityNov. 7, 2024

Samuel Youn to offer unique performance beyond recital

The day will soon come when Korean audiences can enjoy opera arias and lieder without resorting to subtitles, bass-baritone Samuel Youn said Wednesday during an interview. This will not be due to any technological advancement, but because Youn and many other artists aspire to create pieces that can be sung in Korean, allowing Korean audiences to feel them deeply without the need for translation or subtitles. Although Youn says there aren't enough Korean art songs, also known by the german

CultureNov. 7, 2024

Coupang founder to sell $360m of stock

Coupang founder and CEO Bom Kim announced on Thursday plans to sell 15 million shares valued at some $360 million — his first sale since Coupang’s New York Stock Exchange debut on March 15, 2021. He also plans to donate an additional 2 million shares to charity. Kim currently owns 174,802,990 Class B shares and the shares he plans to sell represent almost 9.7 percent of the total holding. The Class B shares, exclusively owned by Kim, have 29 times the voting power of regular shares.

IndustryNov. 7, 2024

A look back on US' unpredictable foreign policy in Trump's 1st term

As Donald Trump returns to the White House for a second term, the world is reminded of his high-stakes, often unpredictable approach to diplomacy, especially regarding the Korean Peninsula. During his first term, Trump navigated one of the most volatile relationships in US foreign policy with North Korea, combining tough sanctions, blunt rhetoric and unprecedented summits. Trump's administration initially took a confrontational approach to North Korea, especially after Pyongyang conducted i

PoliticsNov. 7, 2024

India’s vibrant economy ready to lure Korean investors, says ambassador

Deeper economic and commercial ties between India and South Korea could pave the way for mutual growth, India’s ambassador to South Korea said, highlighting the potential of India’s young, expanding consumer base and robust annual growth rate. “India’s economy continues to demonstrate resilience and growth, driven by forward-looking government policies,” India’s Ambassador to South Korea Amit Kumar said in his opening remarks at the Global Business Forum hoste

IndustryNov. 7, 2024

South Korean ruling party chief ‘confident’ in Yoon-Trump synergy

South Korean ruling party leader Han Dong-hoon said Thursday he believed US President-elect Donald Trump’s reelection will be a chance for South Korea and the US to deepen ties further. Speaking at Thursday’s meeting of the party leadership, Han Dong-hoon congratulated Trump on his victory. “My sincerest congratulations to Mr. Trump. I have said that his Asia priority policy would be an opportunity for deepening the South Korea-US relationship in a way that benefits both countr

PoliticsNov. 7, 2024

Tata Daewoo rebranded for EV shift

GUNSAN -- Tata Daewoo Commercial Vehicle Company, a well-established name in commercial trucks often seen on construction sites and in logistics operations across the globe, has rebranded itself as Tata Daewoo Mobility. Joining a broader industry trend, Tata Daewoo’s rebranding as a "mobility" company reflects its new mission to lead in eco-friendly transport through the development of electric and hybrid vehicles. During the 30th anniversary ceremony held at its headquarters in

MobilityNov. 7, 2024