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Games & Commerce

Musinsa posts Q1 operating profit of 19.0 billion won, up 8.2 percent on year

Musinsa said on Tuesday it posted first-quarter consolidated revenue of 363.6 billion won and operating profit of 19.0 billion won, with revenue up 24.1 percent and profit up 8.2 percent from a year earlier, its best-ever first-quarter result. On a standalone basis, it reported revenue of 335.0 billion won and operating profit of 27.5 billion won. It recorded a standalone net loss due to interest expenses from accounting for RCPS as liabilities.

AI & Enterprise

ITCEN Entec wins Hyundai Department Store Group H.Point app renewal contract

ITCEN Entec said on Monday it has won a contract to renew the H.Point app, Hyundai Department Store Group’s integrated membership platform, and is expanding its business portfolio into retail digital services. The company said it has prepared to carry out the project with specialised staff, including project management professionals and IT experts in department store, retail and logistics. It plans to apply updated UI/UX design and work closely with the client.

Games & Commerce

Naver, Kakao shares lag despite solid earnings as AI monetisation delays cut valuation expectations

Brokerages forecast record first-quarter results for Naver and Kakao, but their shares keep falling this year. Analysts say weaker visibility on monetising artificial intelligence is lowering valuation expectations. Securities firms have cut target prices for both companies. For Naver, rising infrastructure and promotion costs and delays to a blockchain-related merger are weighing on sentiment. For Kakao, investors are watching the super-app push and proof of AI agent utility.