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The Korea Herald

Mobile & Internet

August 27, 2020
Netflix under probe in Korea over potential tax avoidance

Netflix’s regional office in South Korea is being investigated for alleged tax avoidance, according to industry sources on August 27. The National Tax Service made its first visit to the Netflix‘s office in Seoul and launched a probe on August 26. The NTS suspects the global streaming giant m...
August 12, 2020
Netmarble Q2 net more than doubles on new games

Netmarble Games, South Korea‘s No. 1 mobile game developer and publisher, said on August 12 that its net income more than doubled in the second quarter from a year earlier on the back of the popularity of its new games. Net income came to 85.2 billion won (US$71.9 million) during the April-June p...
August 07, 2020
Naver’s online cartoon service posts W3b daily sales

Naver on August 7 said that its online cartoon business is posting 3 billion won ($2.5 million) in average daily gross sales as of Aug. 2, up from 2 billion won in August last year. Naver contributed the growth to the increased number of monthly active users. Active users in July surpassed 650 mi...
August 06, 2020
Kakao hits all-time high sales in Q2

Kakao, the operator of South Korea’s top mobile messenger, on August 6 announced that its quarterly sales reached 952.9 billion won ($803.7 million) in the second quarter, an increase by 30 percent on-year and a record high. The company’s operating profit during the April-June period also soar...
August 03, 2020
Kakao Games under fire for sexist translation ahead of IPO

Kakao Games is facing a boycott from users for sexist translations in its newly released game Guardian Tales, posing a hiccup to the company that stands on the doorstep of going public. The gaming unit of Korea’s leading messenger app operator Kakao on August 2 conducted an unscheduled update at...
July 30, 2020
Naver posts all-time high sales in Q2

outh Korea’s top internet firm Naver announced on July 30 that its sales in the second quarter reached an all-time high of 1.9 trillion won ($1.6 billion), up 16.7 percent on-year. The company’s operating profit increased by 79.7 percent to 230 billion won, while net profit increased twofold lo...
July 24, 2020
Kakao Games’ IPO application gets greenlight

Kakao Games said on July 24 its application for initial public offering has received the greenlight from the Korea Exchange (KRX), the nation’s sole bourse operator. According to the South Korean game company, the KRX approved Kakao Games’ application for preliminary qualification examination f...
July 24, 2020
Nexon launches open-world role-playing game V4 in 150 countries

Nexon on July 24 announced the launch of its open-world MMORPG game V4 in 150 countries. Standing for “Victory For,” V4 is a mobile MMORPG made using Unreal Engine 4. It boasts high-end graphics, a vast virtual combat field and character customizing features. According to the South Korean gam...
July 24, 2020
Smilegate’s drama series ‘CrossFire’ tops 100m views in China

Smilegate said on July 24 that its 36-episode drama series based on its first-person shooter game CrossFire has recorded 100 million views in China. According to the South Korean game company, the drama series, also named as CrossFire, recorded the milestone on China’s biggest over-the-top plat...
June 08, 2020
Social distancing boosts PC games, mobile videos: report

Given the nationwide social distancing norms in place, South Koreans are playing more computer games and watching videos on mobile devices, data showed on June 7. According to a report from local market research firm Nielsen KoreanClick, Koreans spent 34 percent of their time playing games on PCs...
June 04, 2020
Korea cracks down on foreign games that don’t play by the rules

The South Korean game censorship body on June 4 gave an ultimatum to foreign firms that are distributing products here without receiving government ratings, launching a surgical strike on popular cloud platform Steam. Steam is a video game digital distribution service that also supports games fro...
May 29, 2020
SK Telecom to develop AI-based post production platform

SK Telecom on May 29 said that the company would develop an AI-based post production platform to help local firms to export cultural products abroad. The South Korean telecommunications firm said it recently signed a memorandum of understanding with local post production firm New ID to collaborat...
May 20, 2020
Cafe24 joins Facebook’s new e-commerce initiative

Cafe24, a South Korean e-commerce solutions company, said on May 20 it has joined Facebook’s new initiative, “Shops,” as a partner. Facebook announced the launch of Shops on Tuesday to allow small businesses to set up a single online store for customers to access on both its platform and Insta...
May 19, 2020
Korean game companies diversify to move past former glories

From a stock trading platform to water purifier services, South Korean game companies are diversifying their business portfolios, joining the economy-wide trend of finding auxiliary business models as their growth faces limits. Though Korea’s No.1 game company Nexon posted the best quarterly rev...
May 12, 2020
NCSoft posts record quarterly results in Q1

South Korean game company NCSoft said on May 12 it posted a record quarterly revenue of 731.1 billion won ($596.1 million) owing to the strong sales of mobile games as the COVID-19 outbreak kept people indoors, driving up demand. According to its regulatory filing, the sales of mobile games in th...

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