Journalist
Seon Jae-kwan
seon@economidaily.com
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Nexon shares fly in Tokyo with cap nearing $20 bn on strong pipeline SEOUL, November 28 (AJP) - Tokyo-listed shares of South Korean game publisher Nexon have hit their highest level since 2021, sending its market valuation of around $20 billion as investors rally behind its live-service games and global expansion strategy of CEO Lee Jung-hun. Nexon shared closed Thursday at ¥3,768 on the Tokyo Stock Exchange, lifting its market cap above ¥3.1 trillion (around $19.8 billion) and extending an upward trend that began after its strong third-quarter earnings announcement on Nov. 11. The surge reflects growing market confidence in Lee’s roadmap, first outlined at the Tokyo Capital Market Briefing in September last year. The strategy aims to extend the lifecycle of existing hit franchises while aggressively developing new IP, setting a target of ¥750 billion in sales by 2027. Since its announcement, Nexon’s market value has increased by more than 30 percent, underscoring the degree to which investors view Nexon as a global IP powerhouse rather than a Korea-centric game publisher. Live-service games remain a major engine of growth. MapleStory revenue tripled year over year, driven by user-focused updates and closer community communication, while Dungeon & Fighter and the FC sports franchise continued to deliver steady performance. Nexon also widened its portfolio with cross-genre hits such as the indie-style adventure Dave the Diver and the subculture favorite Blue Archive, reinforcing its ability to sustain multiple audiences and platforms simultaneously. This year, Nexon’s “horizontal growth” has come into clearer focus as the company evolved into a multi-platform publisher spanning mobile, PC, and console. Mabinogi Mobile, released in March, captured the original game’s spirit and won the Grand Prize at the 2025 Korea Game Awards. First Berserker: Kazan, also launched in March, secured top honors for creativity and technical achievement. In the second half, Swedish subsidiary Embark Studios released Arc Raiders globally on Oct. 30, selling more than four million copies by mid-November. The idle RPG Maple Growing, launched on Nov. 6, delivered strong initial momentum, adding further diversity to Nexon’s gaming ecosystem. Looking ahead, Nexon is preparing a robust pipeline intended to carry its momentum into the next several years. Vindictus: Defying Fate, a leading demo at Steam Next Fest in June, has demonstrated the potential for extending the Mabinogi IP into new markets. New titles tied to the Dungeon & Fighter universe—including Project Overkill and Dungeon & Fighter: Arad—are scheduled for release through 2027. The company is also developing new IP such as the zombie-survival title Paradise: LAST PARADISE and Nexon Games’ narrative-driven Uchi the Wayfarer. “We plan to accelerate growth across both core franchises and new IPs under our expansion strategy,” CEO Lee said during the third-quarter earnings call, emphasizing that a diversified and globally scalable portfolio will reinforce Nexon’s long-term stability in the international market. Japanese securities analysts expect Nexon to post record fourth-quarter and annual results, forecasting continued momentum in both live-service revenue and new releases. With its expanded global pipeline and renewed franchise strength, Nexon is increasingly viewed as a regional IP leader reshaping the trajectory of Korea’s gaming sector. * This article, published by Economic Daily, was translated by AI and edited by AJP. 2025-11-28 13:14:09 -
South Korea's Daum portal to spin off as AXZ after 11 years under Kakao SEOUL, November 28 (AJP) - South Korea’s No. 2 portal site Daum will be spun off into a standalone company named AXZ on Dec. 1, marking its first legal separation from Kakao in 11 years in a bid to revive competitiveness in the portal business, industry officials said Friday. Kakao will transfer Daum’s service rights to AXZ, a subsidiary established in May to prepare for the split. The move ends a decade-long integration following Kakao’s 2014 merger with Daum Communications. Starting next month, AXZ will operate Daum’s key services, including search, news, shopping, online communities and email. Tistory, the long-running blogging platform, will also be overseen by AXZ under a plan announced last month. The spin-off is designed to restore agility at Daum, whose development pace slowed under Kakao’s sprawling corporate structure. “The separation will strengthen our portal expertise and create a more flexible environment for experimentation, enabling swift, independent decision-making and new value creation,” a Kakao official said. Ahead of the transfer, Kakao updated its privacy policy on Nov. 24, removing Daum from its list of data-processing services and deleting related data-collection provisions across Daum pages and customer centers. Despite the legal separation, the two companies will continue to share certain user data. AXZ will supply Kakao with information from Daum’s integrated search, news consumption patterns and Tistory logs, which Kakao plans to use to improve personalized recommendations and advertising within KakaoTalk. Industry analysts say this reflects the continued need for data synergies across the broader Kakao ecosystem. Users will also see changes to the login procedure for Daum Games, which is operated by Kakao Games. The unified Daum-Kakao account login system will be revised following the split. * This article, published by Economic Daily, was translated by AI and edited by AJP. 2025-11-28 08:43:21 -
KT signs MOU with DigitalBridge to tap rising demand for AI infrastructure SEOUL, November 26 (AJP) - KT said on Wednesday it has signed a memorandum of understanding with DigitalBridge, a U.S.-based digital infrastructure investment firm, to collaborate on the development and operation of AI data centers in South Korea. The agreement was signed on Nov. 25 at KT’s headquarters in Seoul. DigitalBridge, which manages about $108 billion in assets, specializes in data centers, fiber networks and cloud infrastructure. KT said the partnership aims to address rapidly growing demand for AI computing capacity across the Asia-Pacific region. The two companies will work together on designing and operating AI-focused data centers and will also explore sustainable operating models, sharing technologies to mitigate the high energy consumption associated with AI workloads. “As AI use expands, securing stable infrastructure is essential,” said Jung Woo-jin, head of KT’s Strategy and Business Consulting Division. “We will actively pursue market opportunities with our global partner to deliver optimal services.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-26 16:13:00 -
Naver-Dunamu merger heads to board vote, poised to form fintech powerhouse SEOUL, November 20 (AJP) - Naver’s planned merger with Dunamu, the operator of cryptocurrency exchange Upbit, is gaining traction amid a shifting regulatory climate — potentially clearing the way for one of the most significant tie-ups in Korea’s fintech history. According to industry officials, Naver Financial and Dunamu will convene board meetings on Nov. 26 to approve a proposed stock swap that would effectively combine the two companies under a single corporate structure. Once the boards sign off, the merger will be finalized at an upcoming shareholders’ meeting. Under the proposed terms, one Dunamu share would be exchanged for three Naver Financial shares, making Dunamu a wholly owned subsidiary of Naver Financial. Naver would serve as the new parent company. Dunamu Chairman Song Chi-hyung is expected to emerge as the largest shareholder of the combined entity, with Naver becoming the second-largest. The merger is designed to leverage Naver’s vast platform ecosystem and Song’s leadership in digital finance to drive global fintech expansion, signaling Dunamu’s growing weight in Naver’s long-term financial strategy. The deal initially raised questions over whether it would violate Korea’s “separation of finance and cryptocurrency” principle. However, regulators are reportedly inclined to view Naver Financial as a big-tech fintech operator rather than a conventional financial institution, a distinction that could allow the merger to proceed. The government’s broader shift toward easing cryptocurrency regulations to strengthen global fintech competitiveness is also seen as supporting the transaction. If completed, the merger could produce one of South Korea’s most comprehensive digital finance platforms by integrating Naver Pay’s large-scale payment network with Upbit’s cryptocurrency trading services and blockchain capabilities. The combined entity would span payments, investments, digital asset management, and crypto custody services. Naver’s ambitions in stablecoin issuance and unlisted stock trading — recently signaled through regulatory filings — could also accelerate through Dunamu’s blockchain expertise and Naver’s global footprint, including platforms such as Line. Significant hurdles remain. The merger must secure approval from two-thirds of shareholders and pass scrutiny from the Fair Trade Commission, which is expected to examine potential market dominance issues. * This article, published by Economic Daily, was translated by AI and edited by AJP. 2025-11-20 10:30:16 -
Global game developers will converge on Busan this week for G-Star festival SEOUL, November 09 (AJP) - South Korea’s largest gaming convention, G-Star 2025, is set to open on Nov. 13 at the BEXCO convention center in Busan, promising its most expansive lineup yet. This year’s event will host 1,273 companies from 44 countries, filling 3,269 booths under the theme “Expand Your Horizons.” Organizers say the annual showcase has evolved into a global cultural festival that reflects the expanding scope of the gaming industry — from blockbuster franchises to independent innovation. Among the most anticipated appearances is Blizzard Entertainment’s return after 12 years, featuring an Overwatch 2 experience zone and participation in the G-Star Cup e-sports tournament. Other global developers, including Sega, Atlus, Bandai Namco, and Warhorse Studios, will also take part, reaffirming G-Star’s status as Asia’s leading hub for the international gaming market. NCSoft, serving as the main sponsor for the first time, will anchor the exhibition with a sprawling 300-booth pavilion showcasing two new titles: the Aion 2 and the sci-fi shooter Cinder City. Both are seen as part of the company’s strategy to move beyond its long-running Lineage franchise. Netmarble will unveil four new games, including the Seven Deadly Sins: Origin, as part of a broader push to expand its platform diversity and reach global audiences. Krafton, meanwhile, plans to debut Palworld Mobile, based on its popular intellectual property. Beyond the game floor, G-Star 2025 will broaden its focus through G-CON, a conference exploring the intersection of gaming, storytelling, and technology. Featured speakers include film director Byun Sung-hyun and several AI researchers discussing narrative design and creative innovation. The Indie Showcase will highlight projects from 80 independent developers, offering a platform for experimental ideas and emerging voices shaping the future of gaming. Festivities will begin a day earlier, on Nov. 12, with the 2025 Korea Game Awards. Nominees include Legend of Ymir from Wemade and Mabinogi Mobile from Nexon. To accommodate the expected crowds, organizers will implement a 100 percent pre-booking system and designate a car-free zone near BEXCO to ensure safety. * This article, published by Economic Daily, was translated by AI and edited by AJP. 2025-11-09 14:09:30 -
South Korea's top enterprise software company sold to Swedish PEF SEOUL, November 07 (AJP) - Douzone Bizon, South Korea’s leading enterprise software provider, has been acquired by Swedish private equity firm EQT Partners for 1.3 trillion won, or about $940 million. The company said Friday that founder Kim Yong-woo, who held a 22.3 percent stake, and Shinhan Financial Group, with 34.8 percent, sold their shares to EQT’s special-purpose vehicle, Doronicum. The Swedish firm will control 37.6 percent of voting rights, becoming the new majority shareholder. Founded in 1991, Douzone Bizon has long dominated South Korea’s market for accounting and enterprise resource planning (ERP) software for small and medium-size businesses. Over the past decade, it expanded into public-sector digital services and launched its cloud-based platform, WEHAGO, in 2011. Despite its market leadership, Douzone has faced criticism for high service costs, user complaints, and governance concerns tied to Kim’s family management. EQT said the acquisition reflects its commitment to expanding in Asia and to supporting Douzone Bizon’s transformation into a broader digital business ecosystem. Industry insiders said EQT could eventually make a tender offer for remaining shares, a move that might lead to Douzone Bizon’s delisting from the Korean stock market. * This article, published by Economic Daily, was translated by AI and edited by AJP. 2025-11-07 15:47:32 -
Nvidia's Jensen Huang steals the show in Seoul, outshining Trump and Xi SEOUL, October 31 (AJP) -Presidents Donald Trump and Xi Jinping may have dominated global headlines during the Asia-Pacific Economic Cooperation events in South Korea, but the figure who truly captivated the Korean public was the chief executive of the world’s most valuable company. Nvidia CEO Jensen Huang drew hundreds of reporters the moment he landed in Seoul on Thursday. By evening, the southern Gangnam district had nearly ground to a halt as crowds swarmed in hopes of catching a glimpse of the leather-jacket-clad tech star sharing fried chicken with the chiefs of Korea’s two most valuable companies — Samsung Electronics Chairman Lee Jae-yong and Hyundai Motor Group Chairman Chung Eui-sun. The unlikely sight of the three titans squeezed into a “Kkangbu Chicken” restaurant drew stunned diners and waves of onlookers seeking autographs, eventually forcing police to erect safety lines and control foot traffic around the busy streets leading to COEX. The trio later headed to the GeForce Gamer Festival, where Nvidia celebrated its 25th year in the Korean market. “Kkangbu” — a Korean word for a close friend popularized globally by the Netflix hit Squid Game — took on new meaning as Huang presented his Korean kkangbu with Nvidia DGX systems, the company’s signature AI supercomputing hardware, hinting at “great news” he plans to unveil during his visit. Nvidia is widely expected to announce new partnerships with Samsung and Hyundai before his departure. At the GeForce event, Huang invited the two tycoons onstage to roaring cheers, underscoring the deepening ties between Nvidia and Korea’s industrial giants. The visit came just as Nvidia became the world’s first $5 trillion company, after its stock rose 3 percent to close at a $5.03 trillion valuation on Wednesday. “Nvidia has been in South Korea for a very long time, with the GeForce in every PC bang,” Huang said, using the Korean term for internet cafés, expressing his gratitude to local gamers and consumers. Lee recalled that Samsung memory was first used in Nvidia graphics cards 25 years ago — the spark of his long-running friendship with Huang. Chung highlighted future cooperation, saying Nvidia chips will be core to autonomous cars and robots, and that Hyundai aims to explore connections between gaming and AI technologies. The festival also spotlighted collaborations with Korea’s game studios. NCSOFT unveiled trailers for “Aion 2” and “Sinder City,” the latter set in a post-apocalyptic Seoul. Both titles rely on advanced graphics enabled by Nvidia technology, said Baek Seung-wook, the company’s chief business officer. Krafton introduced an AI-powered in-game character, “PUBG Ally,” built with Nvidia’s ACE technology. Far from the political buzz in Gyeongju, Seoul offered a different stage: a fusion of Korean food, global tech hardware, and game-industry soft power, all wrapped in an unabashed display of local enthusiasm for the man many here see as the face of the AI era. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-31 07:34:13 -
Upon "golden" treatment, Trump agrees to a trade deal with South Korea GYEONGJU, October 29 (AJP) -— President Donald Trump on Wednesday agreed to Seoul’s terms on South Korea’s $350 billion investment package after months of wrangling, clearing the way for a sweeping trade deal on the sidelines of the Asia-Pacific Economic Cooperation Summit, according to Seoul's presidential office. The agreement—$200 billion in cash and $150 billion in shipbuilding projects led by Korean firms—will cut U.S. tariffs on Korean autos from 25 percent to 15 percent, bringing them in line with rates applied to Japan and Europe, which reached similar deals with Washington, presidential chief of staff Kim Yong-beom told reporters in a briefing in Gyeongju. Kim said the annual cash outlay would be capped at $20 billion and distributed over several years depending on project progress. Final approval had been delayed since July as Seoul pushed for installment payments and non-cash components, arguing that a one-time $350 billion transfer—equivalent to roughly 80 percent of Korea’s foreign exchange reserves—risked destabilizing the won. Trump, up until his arrival in Korea, had publicly insisted that Seoul pay “upfront cash.” The breakthrough came after President Lee Jae Myung rolled out an unmistakably “golden” welcome for Trump visiting Korea on the final leg of his first Asian tour in his second presidency. Lee presented Trump with a replica of an ancient Silla gold crown and awarded him the Grand Order of Mugunghwa — Korea’s highest honor — citing his “contributions to peace on the Korean Peninsula.” The gesture played to Trump’s well-known affinity for gold and ceremonial recognition. Kim said the trade package includes most-favored-nation status for Korean pharmaceuticals and wood products, tariff-free access for aircraft parts, generics and non-U.S. natural resources, and semiconductor tariffs aligned with rates applied to Taiwan. Crucially, Korea secured protection for its agricultural sector, avoiding additional openings for rice and beef. Safeguards were built into the investment structure, Kim added. Payment timing and scale may be adjusted if foreign-exchange volatility rises, and only commercially viable projects will proceed under a memorandum of understanding emphasizing “multi-layered” risk controls. Profits will be split evenly between the two countries until principal repayment, with terms adjustable if full repayment is not met within 20 years. The agreement runs through January 2029. The “golden” diplomacy extended beyond the negotiation room. Lee greeted Trump at the National Gyeongju Museum wearing a custom golden tie embroidered with Korean script representing a “golden future” for the alliance. Trump, in a blue tie, laughed and shook hands warmly. He toured an exhibition of Trump-themed memorabilia — from MAGA hats to Korean-language editions of his books — asking aides to send photos to his wife, Melania. A luncheon followed, featuring fusion dishes including New York–inspired courses blended with regional Korean ingredients. Another crucial deal-making awaits Trump as he is slated to meet Chinese President Xi Jinping, also here for the APEC conference, on Thursday. Trump, meanwhile, said he won't be meeting North Korean leader Kim Jong-un who has not returned the U.S. president's repeated invite. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-29 21:33:47 -
Korean crypto platforms under scrutiny for ties to sanctioned Cambodian exchange SEOUL, October 27 (AJP) - South Korean cryptocurrency exchanges have been drawn into a widening money-laundering network tied to North Korean hackers, with transactions flowing through a Cambodian exchange under U.S. sanctions surging nearly 1,400-fold in a year, government data show. According to figures submitted to lawmakers by the Financial Supervisory Service, the total volume of cryptocurrency traded between South Korea’s five largest exchanges — Upbit, Bithumb, Coinone, Korbit, and GOPAX — and Cambodia’s Huiwon Guarantee reached 12.8 billion won, or about $9.2 million, last year. That marks a dramatic rise from just 9.22 million won in 2023. Huiwon Group, which operates the Cambodian exchange, has been identified by U.S. and British authorities as a transnational criminal organization involved in online scams and money laundering for North Korea’s Lazarus Group, a hacking collective accused of stealing billions of dollars in cryptocurrency. Bithumb accounted for the vast majority of the transactions, with its dealings with Huiwon soaring from 9.22 million won in 2023 to 12.4 billion won last year, and another 2.1 billion won recorded by May this year. Upbit, the nation’s largest exchange, also saw a sharp increase, from zero in 2023 to 360 million won in 2024. Nearly all of the funds — about 99.9 percent — were traded in Tether, or USDT, a stablecoin pegged to the U.S. dollar that has become a preferred vehicle for illicit cross-border transfers due to its liquidity and relative anonymity. South Korean exchanges have come under criticism for failing to act swiftly after the U.S. Treasury imposed sanctions on Huiwon Group earlier this year. Despite the designation, several platforms reportedly continued processing related transactions for months. Bithumb only moved to block transactions on May 2 — one day after the sanctions announcement. “The sharp rise in stablecoin transactions between South Korea and Cambodia demands serious scrutiny,” Rep. Lee Yang-soo of the main opposition People Power Party, said Monday. “Financial authorities must strengthen oversight to prevent domestic platforms from becoming conduits for laundering by foreign crime organizations.” The Financial Supervisory Service has not yet commented publicly on whether it plans to investigate the exchanges involved. * This article, published by Economic Daily, was translated by AI and edited by AJP. 2025-10-27 11:14:57 -
SM's TVXQ and RIIZE honored with top govt awards for global K-pop impact SEOUL, October 24 (AJP) - SM Entertainment’s veteran duo TVXQ and rising boy group RIIZE have been recognized by the South Korean government for their contributions to the global expansion of K-pop. At the 16th Korean Popular Culture and Arts Awards held Thursday, TVXQ — also known as Tohoshinki in Japan — received the Presidential Commendation, the nation’s highest honor in the cultural field. The six-member RIIZE earned the Minister of Culture, Sports and Tourism Award for its role in amplifying the Korean Wave, or Hallyu, across younger audiences. This year marks TVXQ’s 20th anniversary since debuting in Japan, a milestone underscored by their record-breaking performances at the Tokyo Dome and other major venues. In their acceptance speech, the duo expressed gratitude to fans and vowed not to become “complacent,” pledging to continue contributing to Korean culture as they enter their 22nd year on stage. RIIZE, often described as SM’s new-generation powerhouse since 2023 debut, has gained international attention with its distinctive “emotional pop” sound. The group’s debut album recorded three consecutive million-seller milestones, and it is currently embarking on its first world tour. The recognition of both TVXQ, K-pop’s trailblazers, and RIIZE, its new torchbearers, highlights the enduring and evolving influence of Korean pop music across generations. TVXQ will hold a fan event in Japan in November, while RIIZE is set to release a new single on Nov. 24, continuing their busy global schedules. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-24 12:57:14