Hong Kong Financial Markets

Jul 29, 2022

A woman wearing a face mask walks past a bank's electronic board showing the Hong Kong share index in Hong Kong, Friday, July 29, 2022. Asian shares mostly rose Friday, following a broad rally on Wall Street as investors grew more optimistic that the U.S. Federal Reserve may temper its aggressive interest rate hikes aimed at taming inflation. (AP Photo/Kin Cheung)

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Esports team DRX seeks to broaden territory into digital entertainment

The esports industry continues to expand, drawing large audiences across game titles and appealing to an increasingly diverse range of people. The Business Research Company expects the global market to grow at an average annual rate of about 20 percent, from $3.02 billion in 2025 to $7.71 billion in 2030. However, few esports team operators have managed to turn that popularity into profits, as player salaries continue to rise while revenues from competition, such as prize money and league revenue sharing, remain volatile. DRX has remained profitable since 2024, helped by a diversified portfolio across multiple esports titles and a stable revenue base built through its advertising agency subsidiary. During an interview with The Korea Times, CEO Yang “Can” Sun-il said he is seeking to transform DRX into a broader digital entertainment company, expanding beyond esports through intellectual property (IP) and its esports academy, particularly in Southeast Asia. “K-culture has certainly become much more sophisticated and valuable than it was 10 years ago,” Yang said. “If you go to co

Esports team DRX seeks to broaden territory into digital entertainment

87% of dog meat farms closed ahead of February ban

With the country’s ban on the dog meat trade slated to take effect on Feb. 7 next year, 87 percent of dog farms have been shut down, a pace faster than the government had anticipated, the Ministry of Agriculture, Food and Rural Affairs said Sunday. A total of 1,537 dog meat farms were registered nationwide when the government announced the ban in February 2024 and began accepting closure notices from farm owners. As of Sept. 21, 198 farms remained in operation. The number of farms that had closed was 30 percent higher than the government had expected by that point. The number of dogs kept in cages stood at 468,000 in August 2024, the final month of a six-month period during which the government encouraged farm owners to submit closure notices and plans. As of last month, an estimated 7,600 dogs remained at farms still operating. The ministry is encouraging the remaining farm owners to close their businesses before the ban takes effect next year. In collaboration with local governments, it will conduct a special inspection campaign from November to December to check whether closed farm

87% of dog meat farms closed ahead of February ban

Hyundai Motor's cumulative India sales set to top 10 mil. vehicles this year

Hyundai Motor's cumulative vehicle sales in India are expected to top 10 million this year, nearly three decades after the South Korean automaker began local sales, industry data showed Sunday. The company had sold 9.88 million vehicles in India through the third quarter of this year, having begun local production with the Santro minicar at its Chennai plant in 1998, according to the Society of Indian Automobile Manufacturers (SIAM). At the current pace, Hyundai's cumulative sales in India are expected to surpass the 10 million mark by the end of this year. Over the past three decades, Hyundai has introduced a range of models in India, including the i10 and i20 hatchbacks, the Verna subcompact, the Creta SUV, the all-electric Creta EV, the Exter SUV and the Alcazar SUV. Hyundai's annual sales in India surpassed 500,000 units in 2016 and reached 605,433 units in 2024, according to SIAM data. Last year, the company sold 398,937 SUVs in India, accounting for about 70 percent of its total sales in the country. At its 2026 CEO Investor Day in August, Hyundai Motor Chief Executive Officer Jose M

Hyundai Motor's cumulative India sales set to top 10 mil. vehicles this year

4 papers co-authored by Hankuk University of Foreign Studies professor accepted in 3 AI conferences

Four papers co-authored by Lee Jun-hyun, a professor in the Division of Computer Engineering at Hankuk University of Foreign Studies (HUFS), have been accepted at three of the world’s leading artificial intelligence (AI) conferences this year, the university said Wednesday. The three conferences are the International Conference on Learning Representations (ICLR), the International Conference on Machine Learning (ICML) and the Conference on Neural Information Processing Systems (NeurIPS). Together, they are known as the “Big Three” AI conferences. Researchers from academia and industry worldwide present their latest findings at the conferences, where papers undergo rigorous peer review, the university said. Lee was the corresponding author of all four papers: one accepted at ICLR 2026, one at ICML 2026 and two at NeurIPS 2026. This marks the first time Lee has had papers accepted at all three conferences in a single year, highlighting the breadth of his research in AI system evaluation and collaboration, efficient information exchange and model compression. The studies were conducted

4 papers co-authored by Hankuk University of Foreign Studies professor accepted in 3 AI conferences

Sungkyunkwan University holds Southeast Asia round of Korean writing contest in Hanoi

Sungkyunkwan University hosted the Southeast Asia regional round of the 2026 Sungkyun Hangeul Essay Contest at Thuongmai University and the Grand Plaza Hanoi Hotel in Hanoi, Vietnam, on Oct. 1. The university said the contest brought together 47 outstanding students selected from leading universities in five Southeast Asian countries — Vietnam, Thailand, Indonesia, Cambodia and Laos — to demonstrate their Korean-language writing skills. Launched in 2007, the Sungkyun Hangeul Essay Contest is one of the university’s flagship international exchange programs, encouraging young people to express their thoughts and dreams in Korean and deepen their understanding of Korean culture. Participants spent two hours writing personal essays on the topic “Two Paths,” which was announced on the day of the competition. Drawing on moments of choice they had faced in life and their personal experiences, the students crafted thoughtful essays in Korean that deeply moved the judges. The grand prize, known as the Jangwon Prize, went to Ta Thi Bich, a student at the University of Languages and Intern

Sungkyunkwan University holds Southeast Asia round of Korean writing contest in Hanoi

University of Seoul students showcase achievements of overseas exploration program

The University of Seoul held a showcase Wednesday to highlight the experiences and achievements of students who took part in its 2026 GO (Global Odyssey)-UOS overseas study tour program. The university said the event, held for the first time this year, gave the 25 participating teams an opportunity to present their projects and exchange ideas after completing their overseas trips during the summer break. This year’s GO-UOS program involved 100 students divided into 25 teams, which visited 33 cities in 12 countries, including the United States, Australia, Spain, Portugal, Japan and China. Each team carried out a range of activities tailored to its specific theme and objectives. All 25 teams presented the results of their overseas projects at the showcase. Ten teams were selected for awards based on a combination of peer evaluations of promotional materials submitted in advance and on-site assessments. Through their presentations, students shared what they had learned during their overseas trips and how the experiences had contributed to their personal growth. “This trip went beyond a sim

University of Seoul students showcase achievements of overseas exploration program

US partnerships vital to Korea's tech industry

As a venture capitalist based in Silicon Valley, I work with frontier technologies and the teams building them around the world. On a recent trip to Korea, I saw a surge in the number of companies and investors looking to engage with the U.S. technology ecosystem. The conversations were distinctly different from the ones I had five years ago. The question was no longer whether to engage, but how. That shift is promising, but Korea needs to move faster. The country has spent decades building world-class capabilities in semiconductors, advanced manufacturing, defense technology and data center infrastructure. It has the technical talent, industrial expertise and resources to become a leader in this technology cycle. What it does not yet have is influence within the U.S. innovation ecosystem that matches those capabilities. That matters more now than ever. Artificial intelligence (AI) is reshaping nearly every major industry, and no one knows exactly where the technology will create the greatest value. The companies, investors and institutions closest to the people building it will have an

US partnerships vital to Korea's tech industry

Lee vows to communicate more directly with public: official

President Lee Jae Myung has vowed to communicate more directly and actively with the public, a presidential official said Sunday. Lee made the remarks during his flight back to Seoul after his state visit to Mexico late last month, according to Seong Ghi-hong, senior presidential secretary for public relations and communication. "I will communicate more actively and directly with the public," Lee was quoted as saying by Seong. "What the president seeks is not simply 'social media politics' but dialogue that bridges the gap between the public and the president, and communication that lowers the barrier between state affairs and the people," Seong wrote on X. He added that social media is just one of many channels for communicating with the public. Lee has recently stepped up his posts on social media to express his views on political, diplomatic and real estate-related issues, prompting concerns among some over the frequency of his posts. On Saturday, Lee said in a post on X that he would continue to communicate with the public via social media despite criticism that such outreach lacks dig

Lee vows to communicate more directly with public: official

[COVER STORY] Korea's 2-track AI strategy casts uncertainty over sovereign model project

The government has been working to develop a national artificial intelligence (AI) foundation model, while planning to launch a separate effort to develop frontier models. This two-track strategy is raising questions: Why is the government pushing the new project and how will it draw the line between the two programs? The Ministry of Science and ICT confirmed that the ongoing AI foundation model project will proceed with a third-stage evaluation, with two finalists expected to be selected in February. Separately, the government plans to allocate 4.7 trillion won ($3.5 billion) for a frontier AI program set to begin in March 2027. The split reflects the government's growing concern that the rapid advances in global AI have made the foundation model project's original goals harder to achieve, while abandoning the project could undermine the ecosystem and capabilities built up over the past year. Deputy Prime Minister and Science Minister Bae Kyung-hoon has repeatedly rejected speculations that the foundation model project is being scrapped. “The national AI foundation model project has b

[COVER STORY] Korea's 2-track AI strategy casts uncertainty over sovereign model project

Incheon airport to host Sky Festival in November

Incheon International Airport Corp. (IIAC) said Sunday it will host the 2026 Incheon Airport Sky Festival on Nov. 7 and 8 at Inspire Arena near the airport, featuring K-pop performances and hands-on cultural activities. Marking its 21st edition, the event is billed as the world's only airport-based cultural festival. Under the theme “K-Vibe Starts at Incheon Airport,” it will offer visitors a chance to experience Korean culture through music, fashion, beauty, food and tourism. The Korea Tourism Organization, Incheon Tourism Organization and Korea Heritage Agency will offer hands-on programs showcasing Korean culture and tourism. The two-day concert will feature popular K-pop acts spanning various genres and generations. Epik High, BIBI, TNX, KickFlip and H//PE Princess will perform on Nov. 7, followed by PSY, Zion.T, Kim Na-young, Forestella, xikers, hrtz.wav and OURBIRTHDAY on Nov. 8. A 300-seat viewing area will also be set up near Inspire Arena, allowing visitors to watch live broadcasts of the concerts outside the main venue. Inspire Ballroom will host about 20 booths offering hand

Incheon airport to host Sky Festival in November

Cheong Wa Dae makes rare disclosure of Lee's golf outing ahead of opposition attack

Cheong Wa Dae on Sunday took the unusual step of disclosing information on President Lee Jae Myung’s private golf schedule, shortly before an opposition lawmaker held a news conference questioning his whereabouts when a ceiling collapsed at a supermarket in Daegu. The office confirmed that Lee visited Taereung Golf Club with his family Saturday, about the time reports that the ceiling of a commercial building collapsed in Daegu, injuring dozens of people. Lee was briefed on the accident at the course and called acting National Police Agency chief Kim Jong-chul to check on casualties and injuries, Cheong Wa Dae said. He then ordered authorities to focus on rescue efforts and ensure a swift, safe response. “We normally do not confirm the president’s undisclosed schedule or private holiday activities,” the presidential office said, explaining that it made an exception “to prevent unnecessary controversy.” “We regret that the president’s private, undisclosed schedule is being used for political disputes,” it added. The announcement came shortly before Rep. Joo Jin-woo of the

Cheong Wa Dae makes rare disclosure of Lee's golf outing ahead of opposition attack

Experts see no quick fix to Korea-US intelligence rift

Although the South Korean government insists its alliance with the United States remains strong despite six months of restrictions on North Korea intelligence sharing, experts say the dispute is best understood not as a personnel problem but rather as a symptom of a deeper structural shift — one in which the alliance is transitioning from a traditionally hierarchical relationship into a more horizontal partnership. That framing came as the National Intelligence Service (NIS) on Sunday dismissed a local news report claiming Washington had narrowed intelligence sharing with Seoul to missile-related information only. "We make it clear once again that, aside from some information that led to the intelligence-sharing restrictions already acknowledged by our government, South Korea and the U.S. are actively cooperating across a wide range of areas, including Pyongyang's missiles, conventional military capabilities and what is happening in North Korea, as well as international relations, cybersecurity and counterintelligence," the NIS said in a press release. The denial comes amid media repo

Experts see no quick fix to Korea-US intelligence rift

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