The Korea Times

Chinese gov't introduces Sinocentric game licensing regulations

“Summoners War: Sky Arena” by Com2us / Courtesy of Com2usBy Kim Jae-heunThe Chinese government has introduced a new licensing system for both domestic and international games companies that is likely to create further difficulty for Korean firms as it forces new games to include communist ideology and contribute to promoting Chinese culture.“We won't be able to get a sales license again this year. It is like the Chinese government is saying it will implement the new system as a weapon to protect its domestic game industry,” a source said. According to the Korea Creative Content Agency's (KCCI) report “Weekly Global,” Tuesday, the Propaganda Department of the Central Committee of the Communist Party of China's new regulation gives five criteria by which a game will be evaluated from 0 to 5: ideology, cultural meaning, originality, quality and development level. A game requires an average three points in all categories for a license and if it receives zero in any individual category, it will be automatically excluded. The Propaganda Department said i

May 4, 2021By Kim Jae-heun

Chinese gov't introduces Sinocentric game licensing regulations

Companies

ANALYSIS Southeast Asia: Battlefield for local platform operators

By Kim Jae-heunA number of domestic platform operators are gathering in Southeast Asia to compete against each other in the belief that the region is the bridgehead to a global market. The average income per capita of Southeast Asian countries is about $4,400, but the region's market has great potential for growth as the size of the middle class is expected to increase to 200 million by 2025In Jakarta, the capital Indonesia, annual income is now over $10,000 having soared recently and making it an attractive investment area for Korean firms. Platform operators Grab and Gojek that started in the local markets of Singapore and Indonesia, respectively, have already become eponymous “Super-Apps” in Southeast Asia based on massive populations with relatively equally high purchasing power. However, Korean firms ― riding the wave of Korean culture' increasing popularity there ― are seeking opportunities in “blue oceans” that have not yet been cultivated. Kakao, Naver to compete in IP sectorKakao Entertainment, a mass media and publishing company that owns KakaoPage a

May 3, 2021By Kim Jae-heun

[ANALYSIS] Southeast Asia: Battlefield for local platform operators

Tech & Science

Local OTT services target middle-aged viewers to compete with Netflix

TV personalities pose prior to Tving's new reality show, “Spring Camp,” to premiere on May 7. Courtesy of CJ ENMBy Kim Jae-heun Domestic over-the-top (OTT) services are targeting viewers in their 40s and 50s with appealing contents in order to catch up with Netflix, the No. 1 player here.According to Nielson Korea, the American content platform saw its monthly active users (MAU) decline to 8.24 million in March from 8.78 million in February.The figure is still far ahead of Tving and Wavve, whose MAUs increased to the 3 million range in April.Tving is a local OTT service launched by CJ Group. Its MAU soared from 2.79 million at the end of 2020 to 3.27 million last month. Wavve is Tving's main rival, established by SK Telecom, and the three major broadcasting networks, KBS, MBC and SBS. Its MAU also increased to 3.68 million in the same period. Tving and Wavve have expanded their audience demographics to middle-age viewers who prefer entertainment shows over American original content. The Korea Communications Commission revealed in a report that the number of OTT service us

May 3, 2021By Kim Jae-heun

Local OTT services target middle-aged viewers to compete with Netflix

Companies

GS25 hit for sexist promotional poster

GS25's first promotional poster for camping items / Courtesy of GS RetailBy Kim Jae-heunGS Retail's convenience store brand, GS25, decided to delete a poster for camping products after the ad was criticized for containing sexist content that belittles men.The convenience store chain revealed the promotional material Saturday on its social networking service that contains a drawing of a hand trying to grab a sausage. The poster was planned to be displayed for a month.However, one customer pointed out online that the hand depicted in the poster is making a sign used by misandrists belonging to the radical feminist online community “Megalia” to express their hatred towards men. The image of a sausage situated next to the hand only stirred up controversy.Customers also argued that the text written on the poster, “Emotional Camping Must-have Item” can be read as “megal” in Korean if the last letters are read backwards. Megal is a word used on Megalia to describe the members themselves.GS25's second promotional poster for camping items / Courtesy of GS R

May 2, 2021By Kim Jae-heun

Companies

AmorePacific to expand online business, LG to target US market

AmorePacific's cosmetics store in Gwangyo, Gyeonggi Province / Courtesy of AmorePacificBy Kim Jae-heunLast year, AmorePacific gave up its No. 1 cosmetics firm position in sales to LG Household & Health Care (LG H&H) after reporting 4.93 trillion won ($4.4 billion) in sales compared to the latter's 5.55 trillion won. In response, AmorePacific declared that it would go all-out in its online business to reclaim its former title, while LG H&H promised to maintain its current position through global diversification.Until recently, AmorePacific had decided not to focus on the e-commerce sector as it believed it would have to offer discounts for online products, which could impact sales at its physical outlets. Franchisees of its sub-label skincare brands also agreed with this strategy. However, the company has no choice now, especially after its Chinese market was struck hard by the COVID-19 pandemic; although the situation enabled the online cosmetics market to flourish at the same time. In March, AmorePacific established a new digital sales team and started to sell promotiona

May 1, 2021By Kim Jae-heun

AmorePacific to expand online business, LG to target US market

Companies

Shake Shack opens 6th restaurant in Singapore

Local food and confectionery giant SPC Group, which holds the business license for U.S. fast food restaurant chain Shake Shack in Singapore, has opened its sixth store at the Great World shopping mall in Singapore. Since opening its first restaurant in the Southeast Asian country in April 2019, SPC Group has successfully opened five more in two years. Courtesy of SPC Group

Apr 29, 2021By Kim Jae-heun

Shake Shack opens 6th restaurant in Singapore

Companies

FTC criticized for failing to detect Market Kurly's unfair trade practices

Market Kurly Founder Sophie Kim, left, holds up a business agreement with CJ Logistics CEO Kang Sin-ho, on cooperation in the online grocer's delivery service, at CJ Logistics headquarters in Seoul, on April 27. Courtesy of CJ LogisticsBy Kim Jae-heunThe Fair Trade Commission (FTC) is facing criticism for remaining silent amid allegations that fresh food delivery platform Market Kurly forced suppliers to offer discounts on their products. The antitrust watchdog investigated Market Kurly's alleged abuses of power last December. However, the FTC was unable to prove the allegations leveled against the e-commerce firm and also remained silent about the issue.The FTC said the investigation is still in progress, while the results have not come out yet.“We've been receiving other accusations and proving a case takes time,” an FTC official said.Industry insiders, however, accused the antitrust watchdog of favoritism.“The FTC has been a fair trade commission for big companies and unfair trade commission for small- and medium-sized businesses,” an industry source said.

Apr 29, 2021By Kim Jae-heun

FTC criticized for failing to detect Market Kurly's unfair trade practices

Companies

POSCO Int'l to produce 2 million EV motor cores

POSCO SPS's mold production facility in Cheonan, Gyeonggi Province / Courtesy of POSCO InternationalBy Kim Jae-heunPOSCO Group announced a plan to convert itself into a “green mobility” company Wednesday, launching the “green autoparts” brand “e Autopos,” in response to the rapidly growing market for electric vehicle (EV) parts. It will also increase its production of electric motor cores.Affiliate POSCO International said it will invest 22.9 billion won in Cheonan, Gyeonggi Province, and in Pohang, North Gyeongsang Province ― homes to its subsidiary, POSCO SPS ― to build new production facilities for the motor cores. Its goal is to expand its production capacity in the Korean market from 660,000 per year, to 2 million by 2025, to cope with the growing demand for EVs. When two additional production lines open, POSCO International will become the country's largest electric motor core maker. POSCO SPS's factory in Cheonan makes molds, and the new facility will produce motor parts from these after construction is completed at the end of the third quar

Apr 28, 2021By Kim Jae-heun

POSCO Int'l to produce 2 million EV motor cores

Companies

Market Kurly, TMON review IPO through SPAC merger

Market Kurly's CEO Sophie Kim talks to reporters during a press conference held at the company's headquarters in Seoul, in this 2019 file photo. YonhapBy Kim Jae-heunLocal e-commerce firms Market Kurly and TMON are considering going public on the American stock market through a special purpose acquisition company (SPAC) merger.“SPAC” refers to a company with no commercial operations that is formed strictly to raise capital through an initial public offering (IPO), for the purpose of acquiring an existing company. If the two firms decide on a back-door listing by combining with a shell company, they will be the first Korean companies to do so in the United States. Market Kurly and TMON are currently seeking legal advice related to tax issues. They are planning to get listed on the New York Stock Exchange possibly within this year. SPAC mergers have been a popular trend for private investors, due to the more convenient IPO procedure compared to that of a general IPO. Such a merger allows individuals to receive their investment back at the level of its initial issuance, if t

Apr 26, 2021By Kim Jae-heun

Market Kurly, TMON review IPO through SPAC merger

Companies

Kim Ki-mun receives LG Humanitarian Award for saving family

Kim Ki-mun, right, receives the LG Humanitarian Award from the LG Welfare Foundation in front of a restaurant in Gimhae, South Gyeongsang Province, on April 21. Courtesy of the LG Welfare FoundationBy Kim Jae-heunKim Ki-mun, 56, received the LG Humanitarian Award for saving a family from a vehicle filling with water after it drove off a narrow rural road. Kim was fishing at a bank near Bonggok Stream in Gimhae, South Gyeongsang Province, on March 21, when he saw a car roll 3 meters down an embankment into a rural irrigation channel that is nearly 2 meters deep. The car had been driving on a narrow one-lane country road with no side rails, and fell off near a bridge while attempting to get around an oncoming vehicle. Kim, who suffers from a class-four physical disability in his lower body, jumped into the water as soon as he witnessed the incident. There were three family members in the car, who couldn't open the door from inside due to the water pressure. The water was muddy from heavy rainfall the previous day, severely limiting Kim's visibility. Nevertheless, he felt his way around

Apr 26, 2021By Kim Jae-heun

Kim Jae-heun

Read more

Chinese gov't introduces Sinocentric game licensing regulations

ANALYSIS Southeast Asia: Battlefield for local platform operators

Local OTT services target middle-aged viewers to compete with Netflix

GS25 hit for sexist promotional poster

AmorePacific to expand online business, LG to target US market

Shake Shack opens 6th restaurant in Singapore

FTC criticized for failing to detect Market Kurly's unfair trade practices

POSCO Int'l to produce 2 million EV motor cores

Market Kurly, TMON review IPO through SPAC merger

Kim Ki-mun receives LG Humanitarian Award for saving family

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