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AI & Enterprise

Baemin, Coupang Eats face rising profitability burden amid market share battle

South Korea's food delivery platforms are stepping up competition to secure users, increasing pressure on profitability. Baemin and Coupang Eats are expanding discount promotions, hiring riders and rolling out new services, while related spending rises. Data show Baemin retains the lead in monthly active users, with Coupang Eats narrowing the gap and Yogiyo shrinking. Companies are also pushing commerce and quick commerce initiatives to diversify revenue and bolster earnings.

Crypto

Circle steps up push in South Korea, fuelling hopes for won-backed stablecoin

Circle CEO Jeremy Allaire (제레미 알레어) visited South Korea and met major financial groups and crypto exchanges, lifting expectations for won-backed stablecoins and related infrastructure cooperation. Shares linked to stablecoins rose sharply on April 14. Analysts said stablecoins connect broadly to payments, authentication, settlement, wallets and trading infrastructure, and that Circle may pursue cooperation on expanding USDC distribution and building infrastructure including CCTP.

AI & Enterprise

Credo to buy DustPhotonics, targets silicon photonics for AI infrastructure

U.S. data centre connectivity solutions company Credo Technology Group will acquire Israeli silicon photonics chip company DustPhotonics, Israeli media outlet Calcalist reported on April 14 local time. Credo will pay $750 million in cash and $123 million worth of stock. Credo aims to accelerate expansion in optical communications through the deal. The company also plans to reduce reliance on external suppliers and build an integrated connectivity platform across AI systems.