Game developer Krafton reports record revenue, profits driven by 'PUBG' success

SEOUL, August 12 (AJU PRESS) - Korean gaming company Krafton on Monday announced record sales and profits for the second quarter, driven by the success of its flagship title, “PUBG: Battlegrounds.” Consolidated operating profit reached 332.1 billion won ($242 million), a 152.6 percent increase year-on-year, the company said in a regulatory filing. Revenue jumped 82.7 percent to 707 billion won, while net profit soared 165.7 percent to 341.4 billion won. Krafton a

August 12, 2024

Upgraded 1,200-ton submarine delivered to Korean Navy

SEOUL, August 12 (AJU PRESS) - The South Korean defense procurement agency on Monday delivered an upgraded 1,200-ton submarine to the Navy following a refurbishment that enhanced its combat and detection capabilities. The submarine, ROKS Jung Woon, is the sixth Jang Bogo I-class submarine, commissioned in August 1997. The Defense Acquisition Program Administration (DAPA) said the submarine was handed over to the Navy in a ceremony at Hanwha Ocean's headquarters on the souther

August 12, 2024

Yoon names new defense minister

SEOUL, August 12 (AJU PRESS) - President Yoon Suk Yeol named Kim Yong-hyun, the 65-year-old chief of the Presidential Security Service, as the new defense minister on Monday. Yoon also nominated the current defense minister, Shin Won-sik, to take on the role of national security adviser. Kim’s nomination is subject to a parliamentary confirmation hearing, but the president can proceed with the appointment regardless of the hearing's outcome. A tough road seems to be ahe

August 12, 2024

Foreign students return to Korea as pandemic ends

SEOUL, August 12 (AJU PRESS) - The number of foreign students in Korea surpassed 200,000 for the first time in the first six months of this year, according to data published by the Korea Tourism Organization (KTO) on Monday. Some 204,000 foreigners visited Korea for educational purposes in the first half of the year, up 50.6 percent from the same period last year, setting a new record high. Before the coronavirus pandemic, the number of foreign students was steadily rising, reach

August 12, 2024

Korea's power demand hits third-highest level last week

SEOUL, August 12 (AJU PRESS) - Korea's hourly electricity consumption surpassed 100 gigawatts (GW) during peak summer periods for the second consecutive year, the Korea Power Exchange said Monday. Last Wednesday, the average power demand reached 100.203 GW between 2 and 3 p.m., marking the third-highest power usage in the nation's history, following records set on Aug. 7 (100.571 GW) and Aug. 8 (100.254 GW) last year, when power demand first exceeded 100 GW. The company r

August 12, 2024

Opinion: The ecommerce challenge: should we protect consumers or producers? 

SEOUL, August 12 (AJU PRESS) - The negative reaction to the recent entry of Chinese companies into the e-commerce market raises a big question seldom asked in Korea that goes to the heart of an economic system based on choice and freedom. What comes first in a capitalist country – protecting competitors or the rights of consumers? Put another way, should a government protect competition or competitors? Chinese players entered the market last year just as the long-time Korean

August 12, 2024

Sports ministry launches probe into Korea's badminton association

SEOUL, August 12 (AJU PRESS) - The Ministry of Culture, Sports and Tourism said Monday that it has launched a probe into possible irregularities within the Badminton Korea Association following complaints raised by badminton ace An Se-young during the Summer Olympics in Paris last week. In the probe, conducted by a team of independent sports officials, the ministry will scrutinize the fairness of the national team selection process and assess the association's support and trai

August 12, 2024

Samsung Electronics ranks 14th globally in AI research

SEOUL, August 12 (AJU PRESS) - Samsung Electronics ranked 14th worldwide in producing high-quality research papers on artificial intelligence (AI), according to a U.S. study. The analysis of AI publications from the past decade, conducted by Georgetown University's Center for Security and Emerging Technology (CSET), found Google's parent company Alphabet leading with 3,374 highly cited papers, followed by Microsoft, Meta and IBM. Samsung contributed 293 papers, becoming t

August 12, 2024

Korean Army tests 4-legged robot for counter-terrorism operations

SEOUL, August 12 (AJU PRESS) - The South Korean Army has deployed a four-legged walking robot for counter-terrorism operations on a trial basis for the first time, the Defense Acquisition Program Administration (DAPA) said Monday. Hyundai Rotem and Rainbow Robotics participated in developing the system, which was completed on Aug. 5, two years after it was selected for the military's rapid pilot program in August 2022. The robot can move at speeds exceeding 4 kilometers per hour an

August 12, 2024

Song by K-pop band with hearing impairment released to cheer for athletes at Paris Paralympics

SEOUL, August 12 (AJU PRESS) - Three-member boy band Big Ocean released their new song on Sunday, to coincide with the Summer Paralympics in Paris later this month. Released on Aug. 11, "Slow," an upbeat track with acoustic guitar and drums featuring sign language, aims to "convey hopeful messages to youngsters including athletes participating in the upcoming Paralympics," according to their agency. The first K-pop band with all three members having hearing im

August 12, 2024