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Games & Commerce

Jung Yong-jin to take CEO roles at E-Mart and Shinsegae Property as registered director

Shinsegae Group Chairman Jung Yong-jin (정용진) will directly lead two key affiliates, E-Mart and Shinsegae Property, the group said on June 8. Shinsegae Property will recommend Jung as a registered director and complete his appointment through a shareholders meeting and a board vote. E-Mart plans to name him a co-CEO and confirm the appointment at next year’s shareholders meeting. Jung said he would accept clear accountability and be evaluated by the board and shareholders.

Telecommunications & Media

Value-added telecom services revenue enters 500 trillion won range as digital platforms become part of daily life

South Korea\'s value-added telecommunications services kept growing, with 2024 revenue estimated at 502.9 trillion won, up 15.3 percent from a year earlier, a government survey showed. Digital platform services generated 161.5 trillion won, accounting for 32.1 percent of the total and rising 5.4 percent. The survey also found broad use of AI, big data and cybersecurity, and examined user behaviour across platform types and subscription-based bundling of OTT and e-commerce services.

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.