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Finance

KOSPI surges over 8 percent in a day, breaks above 7,800; Samsung Electronics nears 300,000 won

South Korea's KOSPI surged more than 8 percent in a single session on May 21, jumping over 600 points to close above 7,800. Institutions led gains with net buying of 2.88 trillion won, while individuals and foreigners sold. Most top market-cap shares rose sharply, with Samsung Electronics climbing 8.51 percent to 299,500 won. The KOSDAQ also rose, and buy sidecars were triggered in both markets.

Games & Commerce

Krafton and Kia bring PUBG Mobile battleground to Seoul's Seongsu

Krafton's PUBG Mobile and Kia have opened an offline experience space in Seoul's Seongsu area combining the game's play elements with Kia's electric vehicles. The 'PUBGM x Kia Zone 8' pop-up runs from May 21 to 24 at two venues, PUBG Seongsu and Kia Unplugged Ground. Visitors move between the sites to complete missions, with attractions including a Blue Zone air dome, an obstacle-course challenge, EV displays, RC car racing and a laser battle zone.

Industry

Hanwha Solutions sells 200 billion won AMPC securitisation

Hanwha Solutions said on May 21 it recently sold about 200 billion won ($130 million) of the Advanced Manufacturing Production Credit (AMPC) it received last year to a third party. It plans to continue accelerating early cash conversion of AMPC to speed up improvements in its financial structure. The AMPC provides tax credits for solar products made in the United States, and the credits can be transferred to third parties.