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Despite criticism on the overt commercialization of its platform, Kakao Corp., the operator of South Korea’s leading mobile messenger KakaoTalk, proves it is worth it. The company on Aug. 8 said its revenue grew 24.5 percent in the second quarter from a year ago to 733 billion won ($605 million)....
The number of 5G subscribers in South Korea surpassed the two million mark four months after the commercial launch of the ultrafast network, industry data showed on Aug. 8. Users of 5G mobile plans by three carriers -- SK Telecom, KT and LG Uplus -- reached 2.01 million on Aug. 5, topping the t...
WeMade Entertainment, a South Korean game developer best known for The Legend of Mir, said it turned profitable in the second quarter, backed by growing income from royalties. The company’s sales rose 22 percent on-year to 33.9 billion won ($27.9 million) while operating profit soared more than 3...
Telecom operator KT said on Aug. 7 its net profit sank 33.4 percent in the second quarter from a year earlier as it ramped up spending on its 5G network and marketing. The South Korean telecom provider posted 139.7 billion won ($115 million) in net profit in the April-June period, compared with...
Seeking to introduce a series of advanced mobile payment services targeting the offline market this year, tech companies are upping heated competition over the smartphone-based payment market here. South Korea’s dominant internet portal Naver said last month that it would soon launch a mobile pay...
Line Corp. has obtained approval from authorities for an internet-based bank in Taiwan, according to the operator of popular messenger Line on Aug. 1. Taiwan’s Financial Supervisory Commission granted an internet banking license to Line Bank Preparatory Office, a consortium of seven partners, on ...
Faced with neck-and-neck competition and trade conflicts between global economic powers, South Korean IT giants saw their profits tumble in the April-July period. Naver announced on July 25 that its operating profit came in at 128.3 billion won ($108 million), down 48.8 percent on-year while its ...
South Korea’s social casino game developer DoubleUGames said its operating profit rose 16.5 percent in the second quarter on-year. The company recorded 40.3 billion won ($34.30 million) in operating profit and 129.9 billion won in sales, up 9.4 percent. These figures were record-high quarterly fi...
South Korea’s telecom operators are expected to have posted downbeat earnings in the second quarter despite robust sales due to their cutthroat competition to attract 5G subscribers, analysts said on July 24. The combined sales of the three carriers -- SK Telecom, KT and LG Uplus -- are estima...
NHN Payco said on July 22 that its Payco Point payment solution will be available on video streaming service YouTube, marking the first partnership between a South Korean mobile payment solution firm and the US streaming giant. NHN Payco’s solution was introduced in app store Google Play as a pay...
South Korea has proposed that the International Telecommunication Union adopt its 5G technologies as global standards, the country’s Science Ministry said on July 18. The ministry said it has asked for some of the wireless connection and broadband technologies used in the country’s 5G service...
For South Korea’s leading mobile game maker, Netmarble, when it rains, it pours. When it came out with BTS World, a story-based mobile game in which players become BTS’ managers -- responsible for growing the K-pop band and promoting its music -- the market got excited. When Beijing granted lice...
The number of South Korean users subscribing to the US video streaming platform Netflix has nearly tripled on-year to surpass the 1.8 million mark, industry data showed on July 16. Netflix is estimated to have 1.84 million paid active streaming subscribers as of June, compared with 630,000 user...
GWANGJU -- Fifth-generation network services -- the next step after long-term evolution, or 4G -- still seem a long way off for most mobile users despite ongoing efforts by telecom firms and mobile device makers here to promote the technology. To bring the emerging mobile tech closer to the public...
The world’s first commercial 5G services in South Korea are expanding, with the number of users rising at an eye-popping pace since their launch in April. But local carriers face the daunting task of improving service quality to meet the high expectations of their customers, according to industry ...
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