PUBG maker Krafton posts record half-year earnings

Krafton posted record earnings for the first half of this year on the strong output from its popular battle royale shooter PUBG: Battlegrounds, the Korean game developer announced Monday. According to the announcement, Krafton logged 1.37 trillion won ($1 billion) in revenue and 642.6 billion won in operating profit in the January-to-June period this year, up 48.3 percent and 55 percent on year, respectively. For the second quarter alone, the game developer reported 707 billion won in revenue an

Aug. 12, 2024

NCSoft shakes up overseas leadership to spur growth

NCSoft announced new leadership appointments at its global offices Monday, as the Korean gaming giant looks to foster new growth and bolster global businesses. NCSoft has appointed Jin Jeong-hee, former head of Pearl Abyss America, as the new CEO of NC America. Pearl Abyss, a Korean game developer, is best known for its popular massively multiplayer online role-playing game franchise Black Desert. With over 15 years of leadership experience at global gaming companies including the US offices of

Aug. 12, 2024

CJ CheilJedang’s Bibigo booth lures K-food enthusiasts in Paris

South Korean food giant CJ CheilJedang said Monday that its Bibigo booth, set up at the Korea House during the Paris Olympics, lured both Korean food enthusiasts and potential business partners during the 18-day run. The Bibigo products showcased at the booth included a range of Korean dishes and snacks, such as tteokbokki, "jumukbap" (stuffed rice balls), corn dogs, and mandu. The company also offered on-site cooking classes for making "gimbap," or seaweed rice rolls, which

Aug. 12, 2024

Ottogi rebrands as Otoki to enhance global reach

South Korean food giant Ottogi said Friday it will change its English name to Otoki to make the brand more recognizable to international consumers. "We decided to pursue this rebranding to clarify the company's identity for global consumers while introducing a modernized symbol that feels more approachable. This will resolve confusion surrounding the pronunciation of our English name," said a company official. As a part of the rebranding initiative, its mascot received a face-lift

Aug. 9, 2024

Nexon posts record Q2 earnings on upbeat China sales

Nexon has set a new record for second-quarter revenue and operating profits, driven by the exceptional performance of Dungeon & Fighter Mobile in China, which launched in May earlier this year. In its latest filing to the Tokyo Stock Exchange on Thursday, Nexon reported a 64 percent year-over-year increase in operating profit, reaching 45.2 billion yen ($310.2 million) for the second quarter of this year. Revenue for the quarter surged 30 percent to 122.5 billion yen, and net income rose 63

Aug. 8, 2024

SK Earthon secures right to explore CO2 off Australian coast

SK Earthon, an exploration unit under SK Innovation, announced on Thursday that it secured the right to explore carbon dioxide reservoirs off the northern coast of Australia, looking to bolster its resource development and carbon capture and storage, or CCS, businesses. According to SK Earthon, the Korean oil and gas exploration company and Australian CCS firms -- InCapture and CarbonCQ -- won the exploration rights for the mining sector named G-15-AP located in the Carnarvon Basin from the Aust

Aug. 8, 2024

[Photo News] CEO delivers cool relief

Posco Future M CEO Yoo Byung-og (left) hands out refreshing drinks to employees Wednesday during his visit to the company's synthetic graphite anode material plant in Pohang, North Gyeonsang Province, where temperatures reached 33 degrees Celsius. He also joined fun activities like darts and a lucky draw, with winners taking home travel and ice cream vouchers. This initiative is part of a company-wide effort for management to visit sites in Gwangyang, Sejong, Seoul, and Gumi, continuing u

Aug. 7, 2024

KGC taps into Japan's top retail giants

Korea Ginseng Corp., the leading manufacturer of ginseng products in the country, said Tuesday it has signed agreements with Japanese retail giants Welcia and Aeon Mall to introduce its red ginseng brand, JungKwanJang, in their stores. This initiative aims to enhance the presence of JungKwanJang in the Japanese market by entering the largest drugstore chain and the leading comprehensive shopping mall company, the firm said. Welcia is the largest drugstore chain in Japan, boasting over 2,000 offl

Aug. 6, 2024

SK-II joins Coupang's Rocket Luxury one-day delivery service

South Korean e-commerce giant Coupang announced Tuesday that it has started offering products from the global premium skincare brand SK-II through Rocket Luxury, the company's one-day delivery service dedicated to premium beauty products. “We are excited to offer a greater variety of luxury skincare brands popular with customers through the inclusion of SK-II,” a Coupang official said. “We will continue to introduce global premium brands that meet the needs of our customer

Aug. 6, 2024

Krafton hires ex-Riot exec as publishing chief

Krafton, the South Korean game developer behind PUBG: Battlegrounds, said Tuesday it had appointed Oh Jin-ho, a seasoned executive with experience at Riot Games and Blizzard Entertainment, as its new chief global publishing officer. Oh's extensive background includes major roles such as general manager of Riot Games and president of Blizzard Entertainment Korea and Southeast Asia, where he was instrumental in localizing and launching blockbuster games like World of Warcraft and StarCraft. O

Aug. 6, 2024

[KH Explains] Shift Up shakes up Korean gaming industry with agility

Shift Up, the South Korean game developer behind blockbusters such as “Goddess of Victory: Nikke” and “Stellar Blade,” made an exhilarating debut on South Korea’s KOSPI market on July 11. The buzz within the Korean game industry revolved around whether Shift Up could challenge the market dominance of NCSoft, a veteran giant in the sector. On its debut, Shift Up’s stock surged to 89,500 won, boosting its market capitalization to nearly 5.2 trillion won ($3.

Aug. 4, 2024

Samsung SDI seeks top US talent

Samsung SDI has embarked on a global journey to find the most talented professionals to advance the Korean company’s level of technology and take the lead in the secondary battery industry. The battery maker held this year’s first career fair at the Hyatt Regency Cambridge Hotel in Cambridge, Massachusetts on Saturday, inviting some 90 people working at top universities and research institutes in North America. Boston is home to Samsung SDI’s first research and development cent

Aug. 4, 2024

Samsung's union tells members to return to work as it eyes prolonging strike

Samsung Electronics Co.'s labor union instructed its striking members Thursday to return to work by early next week, but made it clear the strike will continue for the long haul. The National Samsung Electronics Union, the largest labor union of the South Korean tech giant, made the announcement on its YouTube channel, calling on its 31,000 members to go back to work, effective immediately, and by next Monday to shift the fight to "a long-term plan." "We need a transition o

Aug. 1, 2024

[Photo News] LG Chem's wheelchair art

LG Chem, in partnership with the social enterprise Circle of Change Lab, has donated 100 custom-designed spoke guards made from recycled plastic to 10 children using wheelchairs. These guards, which protect fingers and clothing from getting caught on wheels, feature custom designs that allow kids to express their personalities with favorite characters, drawings and patterns. LG Chem provided the materials and covered processing costs, producing 100 LETZero guards for this project. One recipient

Aug. 1, 2024

Hyundai Group chair named honorary province governor

Hyundai Group Chairperson Hyun Jeong-eun has been reappointed honorary governor of North Chungcheong Province, in recognition of her and Hyundai’s contributions to regional development, the group said Wednesday. The appointment ceremony was held Wednesday at Hyundai Group’s headquarters in central Seoul, attended by Kim Yong-hwan, governor of North Chungcheong Province, and Hyundai Group Chairperson Hyun Jeong-eun. "North Chungcheong Province, with its geographical advantage at

July 31, 2024

KT&G, Philip Morris team up on US filings

South Korean tobacco maker KT&G said Wednesday it has signed a memorandum of understanding with Philip Morris International, the global leader in smoke-free cigarettes, to collaborate on regulatory submissions in the US prior to officially launching its products there. Focused on KT&G's heated tobacco products, this agreement demonstrates both companies’ commitment to collaborating on the premarket tobacco product application process with the US Food and Drug Administration, a

July 31, 2024

Hanwha Aerospace logs record profit in Q2

Hanwha Aerospace posted record operating profit of 358.8 billion won ($260 million) in the second quarter thanks to arms exports to Poland, the Korean defense firm said Wednesday. According to the company, operating profit surged by 357 percent compared to the second quarter of last year. Hanwha Aerospace logged 2.79 trillion won in revenue, up 46 percent on year. The earnings exceeded market expectations. Hanwha explained that the delivery of six units of K9 self-propelled howitzers and 18 unit

July 31, 2024

[Photo News] Hyundai Group chair named honorary governor

Hyundai Group Chairperson Hyun Jeong-eun (right) has been reappointed as honorary governor of North Chungcheong Province, recognizing her contributions to the region's development. This marks Hyun’s second term in the position, following her first in 2022. This recognition highlights Hyundai Group’s engagements in the region, including the relocation of Hyundai Elevator’s headquarters to the area and corporate social responsibility activities in collaboration with the loca

July 31, 2024

NCSoft invests $3.5m in Sweden's Moon Rover Games

NCSoft announced Tuesday that it had invested $3.5 million in Swedish game studio Moon Rover Games, as the Korean game company continues seeking future growth engines to expand its gaming portfolio and global market. Moon Rover Games was established in 2022 by a group of developers who had taken part in creating global hit first-person shooters such as the Battlefield series, Far Cry and Tom Clancy’s The Division. Moon Rover Games is currently developing an FPS titled Project Aldous, based

July 30, 2024

Lotte Wellfood eyes W1tr in snack sales in India

Lotte Wellfood announced Tuesday it plans to merge its Indian subsidiaries, Lotte India and Havmor Ice Cream, to improve operational efficiency and enhance its presence in the Indian market. According to the company, the boards of both affiliates approved the decision in meetings held Monday. Under the merger agreement, Lotte India will acquire Havmor Ice Cream, and both brands will continue their product lines. "Lotte Wellfood has decided to create a combined entity in India to enhance our

July 30, 2024