Weekly news : 5th - 11th August

---

1 - Team Korea exceeds expectations at 2024 Paris Olympics

Team Korea defied expectations at the 2024 Paris Olympics, securing 32 medals, including 13 golds, led by young athletes. The team excelled in archery, shooting, and fencing, surpassing initial predictions. Despite some controversy and a notable error during the opening ceremony, their performance was a major success.

2 - Oracle Korea leader says AI has 'real potential' for Korean companies

Oracle Korea's Managing Director, Kim Sung-ha, highlighted the company's focus on integrating AI and cloud solutions to meet growing demands from Korean enterprises. He emphasized Oracle's strengths in business-to-business services, projecting significant growth in sectors like e-commerce, gaming, and healthcare. Kim dismissed concerns about an AI bubble, asserting that AI has substantial potential to impact enterprise operations.

3 - K-pop stars’ military favoritism controversy returns amid Suga's DUI incident

The controversy over military favoritism for K-pop stars has resurfaced after BTS's Suga was involved in a DUI incident while serving as a public service agent. Despite the Military Manpower Administration's promises of stricter oversight, skepticism remains due to past incidents and concerns about fairness in military classifications. Critics argue that celebrities should be more accountable given their societal influence.

4 - China overtakes S. Korea in OLED market for 1st time

Chinese display companies have surpassed South Korea in the global OLED market for the first time, holding a 49.7% share in Q1 2024. This shift is driven by China's large domestic market, government incentives, and increased investment in OLED technology. Experts warn that South Korean firms must innovate to avoid losing their OLED market dominance, similar to what happened with LCDs.

5 - S. Korea's top 5 gamemakers report contrasting Q2 performance 

South Korea's top five gaming companies—Nexon, NCSoft, Netmarble, Krafton, and Kakao Games—showed contrasting Q2 performances. Nexon and Netmarble posted strong results, with Nexon achieving record sales and profits, while NCSoft and Kakao Games struggled with significant declines. Krafton's Q2 results are anticipated to be positive due to stable revenue from PUBG: Battlegrounds.

6 - Hanbok makes a stylish comeback among Korean youth

Hanbok, once seen as old-fashioned, is making a stylish comeback among Korean youth, with modernized designs attracting widespread interest. The 2024 Hanbok Expo in Seoul saw high attendance, with young people embracing hanbok's vibrant colors and unique styles as a way to express individuality. The trend has even gained international appeal, with foreigners appreciating hanbok for its design and comfort.