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Mobility

Socar to set up autonomous driving unit led by CEO Park Jae-wook

Socar will set up an independent company dedicated to autonomous driving services in May, the firm said on Wednesday. It will spin off a unit aimed at commercialising autonomous driving based on its car-sharing platform capabilities, with an investment size of 150 billion won. CEO Park Jae-wook, who has led the new autonomous driving business since January, will also serve as head of the new entity. Krafton will join as a strategic investor.

Games & Commerce

Krafton says quarterly results hit record high as PUBG IP sales top 1 trillion won

Krafton said it posted record quarterly revenue and operating profit on solid growth in its PUBG: Battlegrounds intellectual property. It said first-quarter sales rose 56.9 percent from a year earlier to 1.37 trillion won and operating profit rose 22.8 percent to 561.6 billion won. PUBG franchise revenue topped 1 trillion won for the first time. The company also outlined plans spanning new game IP, its Raon AI models and a joint venture for autonomous driving services.

Finance

K-Bank posts 33.2 billion won Q1 net profit on corporate loan growth

K-Bank said on Wednesday its first-quarter net profit rose more than twofold from a year earlier to 33.2 billion won, helped by expanded corporate lending. Interest income rose 15.4 percent to 125.2 billion won and net interest margin increased to 1.57 percent from 1.41 percent. Asset quality indicators improved, while its BIS ratio stood at 21.47 percent at end-March. Customers reached 16.07 million.