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People

Weverse Company appoints Yang Ju-il as new chief executive

Weverse Company has appointed Yang Ju-il as its new chief executive and plans to upgrade its global fandom platform services. The company said Yang will officially take office on June 1, calling the move part of a growth strategy to enhance fandom services and strengthen business execution. Yang has held senior roles across web and mobile platforms, including at NHN and Kakao. Weverse has more than 150 million cumulative app downloads.

Games & Commerce

Hybe Q1 revenue 6,983 billion won, up 40 percent year on year

Hybe said on Tuesday its first-quarter consolidated revenue rose 40 percent from a year earlier to 698.3 billion won. Direct participation revenue increased 25 percent to 403.7 billion won, led by album and music sales that nearly doubled. Indirect participation revenue climbed 66 percent to 294.7 billion won, with merchandise, licensing and fan club sales rising. Adjusted operating profit was 58.5 billion won, while operating profit on an unadjusted basis posted a loss.

Industry

Mobility platforms target festival, tourism demand to monetise movement data

With the May holiday period approaching, mobility platforms in South Korea are expanding into festivals and tourism to monetise accumulated movement data and user bases. Companies are linking data to local government event operations, shuttle services and foreign tourist group travel. TMAP Mobility is applying an AI festival-movement solution to a horticulture expo, while Kakao T Shuttle is adding event routes. Socar is running discounts in depopulating areas, and Whistle is expanding parking enforcement alerts.