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Telecommunications & Media

Cabinet approves Telecommunications Business Act amendment to block distribution of caller ID spoofing devices

South Korea has set a legal basis to ban the manufacture and distribution of caller ID spoofing devices used in voice phishing crimes. The Ministry of Science and ICT said the cabinet approved an amendment to the Telecommunications Business Act. The bill expands a subscription restriction service to all users by default to curb fraudulent mobile phone sign-ups under another person’s name. It also broadens the scope of approvals tied to changes in a major shareholder of a facilities-based telecom operator.

Games & Commerce

Wemade posts third straight quarterly operating profit, eyes new titles and China to lift profitability

Wemade said on Monday it posted first-quarter revenue of 153.3 billion won, operating profit of 8.5 billion won and net profit of 19.9 billion won, marking a third straight quarter of operating profit since the third quarter of 2025. It said revenue was led by games and boosted by licence income after a royalty dispute over The Legend of Mir 2 in China ended in settlement. Wemade also cited growing blockchain revenue and outlined plans for new game launches, a push into consoles and preparations for China releases.

Crypto

New book says stablecoins redesign financial infrastructure

A new book co-authored by Park Jae-hyun (박재현), head of Nun21, and Park Ji-su (박지수), head of Suho.io, has been published by Hanbit Media. The authors redefine stablecoins as a core layer integrating money, payments, settlement and credit, rather than a cryptocurrency investment tool. The book analyses how KRW stablecoins could reshape banks, payments and an AI agent economy from technical, legal and financial perspectives.