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… markets will kill innovation in the ecosystem," the group said. "The best way is to let companies set up their own guidelines."
US criticism of the Yoon administration's effort has not abated either. Two and a half weeks after the KFTC's announcement of its strategic shift, representative Miller submitted a bill that would require the US Trade Representative to report to Congress on discriminatory South Korean moves against US platforms and encourage retaliatory trade measures if they are found to have been disadvantaged.
"The Republic of Korea is an important economic and security partner of ours, but we cannot stand by and let US digital companies be targeted by their laws," she said.
President-elect Donald Trump can be expected to take an even more belligerent stance, according to Haeyoon Kim of the Korea Economic Institute in Washington and Simon Lester of the Baker Institute for Public Policy in Houston.
"Whereas the Biden administration has been relatively restrained in challenging foreign digital regulations, a potential second Trump presidency would likely more aggressively promote the argument of discriminatory effects, which could strain the US-Korea alliance if not carefully handled," Kim and Lester wrote in an analysis last month.
At the same time, activists pushing for regulation fear the amendments advocated by the KFTC would be insufficient to curb abuses of market power.
Lee Yeon-ju, a coordinator with the advocacy group People's Solidarity for Participatory Democracy, believes that enforcement under the new approach will take too long and that the regulatory focus has been narrowed too much, expressing worry that Coupang in particular will be left out. "We need a new law," she said.
An analyst at another economic research center added: "I'm afraid the KFTC will not be able to control platform companies effectively with the revisions. The agency needs to be given more power and authority to investigate big online platform companies' abusive activities."
With its legislative proposals pending in the opposition-dominated National Assembly, the government is attempting to use informal mechanisms to address complaints while deploying existing legal tools to tackle abuses.
Last month, the KFTC <a title="" href="https://asia.nikkei.com/Business/Technology/Kakao-Mobility-fined-55m-for-alleged-market-abuses" target="_blank" rel="noopener">imposed a KRW 72.4 billion (USD 52.5 million) fine</a> on Kakao T for forcing competing ride-hailing services whose drivers received orders through its app to share internal data about the drivers for its own benefit.
The KFTC noted that Kakao T's share of the mainstream taxi-hailing market exceeded 96% in 2022. The fee marks a record penalty for a South Korean company for abuse of market power, although Kakao T has denied wrongdoing.
The government has also set up a forum for restauranteurs to discuss market practices directly with delivery app operators, but four months of discussions have yielded little.
The failure of this course, though, might ultimately help the government to finally reach a consensus with the Democratic Party, which holds a majority in the National Assembly.
"We strongly warn Coupang and Baemin," Democratic lawmakers said at a news conference in end-October. "We will push for passing the [PCPA] quickly if their negotiations with small business owners fail."
This article first appeared on <a tabindex="0" href="https://asia.nikkei.com/Spotlight/Policy-Asia/South-Korea-flounders-in-quest-to-restrain-power-of-online-platforms" rel="noopener noreferrer" data-token-index="1">Nikkei Asia</a>. It has been republished here as part of 36Kr’s ongoing <a tabindex="0" href="https://www.kr-asia.com/nikkei-teams-up-with-36kr-in-asia-tech-news-coverage/" rel="noopener noreferrer" data-token-index="3">partnership with Nikkei</a>.

South Korea flounders in quest to restrain power of online platforms

Korea

Bilibili, the platform synonymous with China’s Generation Z and anime fans, has finally reached a financial milestone. The company posted an adjusted net profit of RMB 240 million (USD 33.6 million) in the third quarter, a dramatic turnaround from the RMB 863 million (USD 120.8 million) loss it suffered a year ago. But behind the celebratory headlines, the achievement raises as many questions as it answers.
Revenues flowed in from four pillars: value-added services (38%), advertising (29%), gaming (25%), and IP derivatives and other businesses (8%). Two segments stood out: gaming, with an 84% year-on-year growth spurt, and advertising, which maintained a solid 27.8% increase. These drivers helped tip the scales into profitability, but their durability remains uncertain.
CEO Chen Rui had long pledged to break even by the end of 2023. While the Q3 results fulfilled that promise, much of the credit goes to the phenomenal success of Three Kingdoms: Conquer the World, a new release that powered gaming revenue. Without it, the picture might have looked much grimmer, as older games continued their decline. This heavy reliance on a single title has left investors jittery, reflected in a 12% drop in Bilibili’s stock price post-earnings.
The question now is simple: Can Bilibili keep this momentum alive?
Advertising has emerged as a resilient lifeline for Bilibili, standing as the company’s second largest and fastest-growing revenue stream. Even during a lackluster quarter for the industry and amid unfavorable macroeconomic conditions, Bilibili’s advertising revenue grew steadily, thanks to targeted innovations.
COO Li Ni outlined three key drivers during the Q3 earnings call:
<ol>
<li aria-level="1">Multiscreen and multiscenario expansion: Leveraging newsfeeds, search bars, and PC and tablet interfaces to open up new ad placements.</li>
<li aria-level="1">Integration of its Huahuo and Qifei systems: Smarter mobile ad placements contributed to a sevenfold increase in the number of advertisers.</li>
<li aria-level="1">Usage of generative artificial intelligence: Generative AI tools helped lower the barriers and costs of ad creation, attracting more ad spend.</li>
</ol>
Li shared intriguing insights into shifting ad trends. Performance-based ads, which deliver measurable results, grew by nearly 50% YoY, significantly outpacing traditional brand advertising. Sponsored orders through the Huahuo platform now account for nearly 60% of deals, solidifying performance-based ads as a dominant format.
This transformation has been propelled by the integration of Huahuo and Qifei—dubbed "Huafei" in industry circles. Advertisers typically allocate 70% of budgets to Huahuo for creator-driven ads and 30% to Qifei for broader platform promotions. Historically, Huahuo’s 5% commission was considered industry-friendly, but its limited revenue potential has been offset by Qifei’s introduction, allowing Bilibili to grow ad income without alienating content creators.
Looking ahead, Q4 is poised for a boost from Singles’ Day, the annual shopping extravaganza. Li revealed that Bilibili’s gross merchandise value (GMV) rose by over 150% during the event, with advertising revenue surging nearly 50% YoY. Notably, the number of content creators who participated as hosts increased by nearly 80%, and categories like electronics, home goods, and beauty saw more than half of their customers coming from first-time buyers.
For once, Bilibili’s gaming division didn’t drag down the company’s performance. Instead, it delivered a rare highlight, with Three Kingdoms: Conquer the World dominating the scene. The strategy game generated an estimated RMB 1.5 billion (USD 210 million) in gross revenue during Q3, with RMB 1 billion (USD 140 million) recognized for the quarter. Without this blockbuster, gaming revenue would likely have continued to decline.
But the future of Bilibili’s gaming success hinges on two critical questions: How long can Three Kingdoms sustain its momentum? And when will the next hit emerge?
Chen addressed the first point, underscoring the importance of longevity: "I’ve instructed the team to prioritize Three Kingdoms: Conquer the World as a long-term project. Our goal is a five-year lifecycle."
The game’s fourth season, launched in mid-November, introduced new maps, characters, and storylines, while plans for an international rollout with a traditional Chinese version are set for late 2024. Chen called the title "one of the most critical pillars for next year."
As for new blockbusters, Chen hinted at exploring a gaming genre outside Bilibili’s usual focus on anime and strategy genres, though details remain scarce. For now, hopes rest on Jujutsu Kaisen, a recently launched anime-inspired title that topped download charts in over 70 countries.
Deferred revenue from Three Kingdoms suggests a stable Q4, but its ability to carry Bilibili’s gaming division beyond 2024 remains uncertain. Without a clear successor, the pipeline appears thin.
whereRelatedArticle
<a href="https://kr-asia.com/bilibili-posts-first-ever-profit-as-ad-and-gaming-revenues-surge">Bilibili’s Q3 profit</a> is a commendable achievement, but sustainability is the real test. While advertising innovations and gaming hits like Three Kingdoms have propelled the company forward, cracks remain visible. Gaming revenue is heavily reliant on a single title, and the next big hit is nowhere in sight. Meanwhile, the advertising business, though robust, faces the perennial challenge of balancing innovation with profitability.
For investors, the big question lingers: Can Bilibili deliver consistent wins, or is this quarter’s profit just a fleeting moment of triumph?
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3037186397777928">article</a> was written by Wang Yuchan for 36Kr.

Bilibili hits profitability milestone but faces big questions about its staying power

Bilibili

China Tech

Entertainment

Short Video

Gaming

Live Streaming

Video

Creative

Content

Creator Economy

… Corporation (SMBC)’s Singapore branch, and Baiduri Bank.</li>
</ul>
If there are any news or updates you'd like us to feature, get in touch with us at: <a href="mailto:hello@kr-asia.com">hello@kr-asia.com</a>.
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Deals in brief: Podium nets Series A1 funding, Gyges Labs backed to redefine wearables, xAI raises USD 5 billion, and more

Venture Capital

Angel Investing

Private Equity

Investment

Merger &amp; Acquisition

Singapore

… <a href="https://36kr.com/p/3045850866551685">article</a> was written by Peng Qian for 36Kr.

Alibaba unites domestic and global e-commerce operations in major overhaul

Alibaba

Taobao

Tmall

E-Commerce

… year’s product today, it would feel almost intolerable.
<h3>Q: What are your thoughts on going global?</h3>
YZ: Focus first, then globalize—we need to be more patient.
<h3>Q: Recently, everyone is talking about growth in large models and how to achieve commercial success. How do you maintain positive commercialization?</h3>
YZ: I think there’s definitely potential, but for us, the key is still retention. We need to think more long-term—at least until ROI becomes positive. This is highly correlated with technological advancement.
For us, the main focus is improving retention and organic growth. Proper marketing is needed, but balancing the relationships among these factors is crucial.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3040100048596995">article</a> was written by Yong Yi for 36Kr.

Scaling law remains valid, but priorities are shifting, says Moonshot AI founder

Deep Tech

Artificial intelligence

Lawn mowing is often regarded as a tedious chore, but in Western cultures, a pristine lawn often reflects a household's status. With the rise of automation and the demand for convenience, lawn mowing robots are stepping up as the modern alternative to traditional tools, gradually becoming household staples.
Sales of lawn mowing robots are highly seasonal. Over the past six months, as lawns entered their growing season, sales of these robots have shown consistent growth. This trend has brought promising returns for many domestic pioneers and provided a boost to the market.
According to Ninebot's Q3 financial results, the company's total revenue for the third quarter was RMB 4.239 billion (USD 617 million), an increase of 34.75% year-on-year (YoY). Net profit reached RMB 374 million (USD 54 million), a YoY growth of 139.07%. Revenue from the lawn mowing robot segment alone was RMB 145 million (USD 21 million). For the first three quarters, the company’s cumulative revenue from lawn mowing robots totaled RMB 595 million (USD 87 million), up 379.28% YoY.
Despite this growth, the lawn mowing robot industry is still a nascent field with significant technological and product barriers. Practical applications remain fragmented and require tailored solutions. For instance, designs suitable for European gardens may not work for North American lawns. These challenges have historically led investors to be skeptical of this sector, despite its perceived technological advantages and development potential.
However, this year has seen a shift. Since early 2023, overseas sales of lawn mowing robots from brands like Ninebot, Ecovacs Robotics, and Agilex Robotics have risen sharply, with individual orders exceeding tens of thousands of units.
According to insights from MarketResearch.com and other research firms, the global market for lawn mowing robots will reach USD 1.5 billion by 2024 and potentially grow to USD 3.9 billion by 2029. In parallel, Chinese manufacturers are accelerating their entry into overseas channels.
Ninebot forecasted that its Navimow lawn mowing robot could achieve annual sales of over 100,000 units. During the first quarter of 2024, it sold 33,100 Navimow units, generating RMB 180 million (USD 26 million) in revenue. The second-quarter revenue climbed to RMB 270 million (USD 39 million) with an estimated 40,000 units sold. Adding the third-quarter revenue of RMB 145 million (USD 21 million) and forecasts for the fourth quarter, annual sales appear poised to exceed expectations.
Historically, lawn mowing robots have been divided into two categories: wire-guided and boundary-free. Wire-guided robots require preinstalled magnetic boundary wires, which the robot uses to navigate during operation. While this method is effective, it involves high deployment costs, complex setup, and limited efficiency, often confining robots to a fixed area. These limitations have increasingly given way to boundary-free smart lawn mowing robots over the past two years.
Boundary-free models offer significant advantages, such as eliminating the need for manual intervention. For instance, Ninebot’s Navimow i series, priced at under EUR 999, combines RTK and vision technology. Its proprietary positioning system, artificial intelligence-assisted mapping, and zoned mowing management enhance adaptability to various yard scenarios, improving efficiency and user experience. Following its launch, the product gained rapid traction in Europe, where penetration rates have increased noticeably.
Demand for lawn mowing robots aligns closely with seasonal patterns, typically peaking from April to October when lawns grow rapidly. During these months, the need for yard maintenance spikes, as evidenced by increased search volumes and inquiries on both online platforms and offline retail channels.
On platforms like Amazon, Ninebot and Agilex Robotics collectively held a 10–11% market share during Q1 2024. By May, their combined share surged to 51%, underscoring the importance of early production and inventory planning to capitalize on peak sales periods.
Unlike many hardware products that rely heavily on online platforms, most lawn mowing robot orders come from offline channels. This trend stems from the higher average selling price and the need for consumers to physically test products before purchase. Moreover, offline sales often come with shorter transaction cycles and stronger after-sales support.
This sales dynamic also highlights the importance of robust offline networks. European markets, for example, offer a more open yet highly competitive environment. The decentralized nature of these markets demands strong localization efforts and early partnerships with reliable distributors and service providers to secure an advantage.
China's exports to Europe dominate the lawn mowing machine category, with Germany, the UK, and the UK being the top markets. The varying levels of interest in this category across regions further influence distributor engagement. In high-demand areas such as Northern and Central Europe, distributors are eager to collaborate. However, in regions where interest is lukewarm, distributors may need additional persuasion through targeted sales strategies.
whereRelatedArticle
To meet diverse needs, Ninebot has formed specialized teams to align production with demand. Efforts include synchronized production and sales teams, live chat mechanisms in apps for real-time customer interaction, and localized support teams in core markets.
Statista forecasts that Europe’s lawn mowing robot market will grow at a compound annual growth rate (CAGR) of 10.3% between 2022–2032, reaching USD 662 million by 2030. As smart technology gains traction and market penetration deepens, the lawn mowing robot sector may well be entering its golden age of rapid expansion.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3034469303136260">article</a> was written by Huang Nan for 36Kr.

Ninebot taps into soaring global demand for lawn mowing robots

Robotics

… aria-describedby="caption-attachment-150806" style="width: 640px" class="wp-caption aligncenter"><img loading="lazy" decoding="async" class="wp-image-150806" src="https://console.kr-asia.com/wp-content/uploads/2024/11/OBSBot-Camera-Quality-1024x683.jpeg" alt="" width="640" height="427" srcset="https://console.kr-asia.com/wp-content/uploads/2024/11/OBSBot-Camera-Quality-1024x683.jpeg 1024w, https://console.kr-asia.com/wp-content/uploads/2024/11/OBSBot-Camera-Quality-300x200.jpeg 300w, https://console.kr-asia.com/wp-content/uploads/2024/11/OBSBot-Camera-Quality-768x512.jpeg 768w, https://console.kr-asia.com/wp-content/uploads/2024/11/OBSBot-Camera-Quality-1536x1024.jpeg 1536w, https://console.kr-asia.com/wp-content/uploads/2024/11/OBSBot-Camera-Quality.jpeg 1920w" sizes="(max-width: 640px) 100vw, 640px" /><figcaption id="caption-attachment-150806" class="wp-caption-text">Photo source: OBSBot via 36Kr.</figcaption></figure>
To boost brand visibility, OBSBot is negotiating with Apple stores and major camera retailers for in-store demos. It has also partnered with sports events and entertainment IPs, debuting OBSBot products at the preliminary rounds of the ITTF World Youth Championships, easing production teams' workload with a seamless, high-quality streaming experience.
Beyond the Tail Air, OBSBot recently introduced the Meet 2, a high-performance camera designed for domestic streamers, gamers, and content creators in need of versatile setups. Looking forward, OBSBot aims to expand its AI-driven offerings, advancing from entry-level to professional-grade automated devices.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3026421285938440">article</a> was written by Huang Nan for 36Kr.

Turning your room into a studio: OBSBot’s latest camera makes professional streaming simple

China’s esports streaming heats up as Douyin draws top IP and talent

Bytedance

Douyin

Southeast Asia is rapidly expanding its global trade by pursuing diplomatic neutrality and engaging with various economies in conflict over political and economic issues. The region's external trade is projected to rise by USD 1.2 trillion from 2022 to 2032, marking the largest increase globally.
"Today, I offer our nation as the most neutral and nonaligned location," Malaysian Prime Minister Anwar Ibrahim said at the Semicon Southeast Asia 2024 trade show in Kuala Lumpur on May 28, unveiling the country's business strategy.
Malaysia is bolstering its economic ties with both the West and nations like China and Russia. In August, Anwar attended a ceremony hosted by Infineon Technologies, a prominent German semiconductor manufacturer, to mark the opening of its new plant in Malaysia. Just a month or two earlier, he held separate meetings with Chinese Premier Li Qiang and Russian foreign minister Sergey Lavrov to facilitate Malaysia's potential entry into the BRICS alliance, which includes Brazil, Russia, India, China, South Africa, and other nations.
"Southeast Asia is poised to be the biggest winner in global trade over the next decade, even amid escalating confrontations between the US and China," said Takeshi Konomi of Boston Consulting Group, which forecasts an increase of USD 1.2 trillion in combined external imports and exports of goods from 2022 to 2032. Of this growth, trade with China is expected to account for USD 616 billion, driven by the region's integration into its neighbor's supply chains.
In July, BYD, China's largest electric vehicle manufacturer, opened a large plant in eastern Thailand. The facility, which has the capacity to produce 150,000 units annually, imports key components from China, and BYD plans to establish it as its primary export base in the region.
Major US technology companies continue to show strong interest in investing in Southeast Asia. Malaysia, which hosts factories for Intel and other American companies, has emerged as a leading chip exporter to the US.
Manufacturing companies from Japan, South Korea, and Europe are joining the fray by establishing production bases in the region and expanding trade, all while reducing their reliance on China as part of a derisking strategy.
Southeast Asia's relatively relaxed government trade restrictions are also attracting foreign companies as the economic feud between the US and China intensifies. In September, the US administration under President Joe Biden quadrupled tariffs on Chinese EVs to 100%, provoking a strong backlash from China.
As of April 2023, the average US tariff on Chinese products was 19.3%, a 6.2-fold increase since early 2018, according to the Peterson Institute for International Economics, a Washington think tank. During the same period, the average duty imposed by Beijing on US products rose to 21.1%, reflecting a 2.6-fold increase.
Every year since 2020, countries have implemented an average of 5,600 trade- and investment-related restrictions and interventions, marking an 80% increase compared to the 2010s, according to the Global Trade Alert, a European research organization.
Looking back to 2008, the US has imposed a total of 10,200 restrictions and interventions, while China has enacted 7,800. Together they account for 30% of the overall total. In contrast, Southeast Asian nations have introduced 2,100 such measures during this period.
The International Monetary Fund forecasts that Southeast Asia's real gross domestic product will grow at an average annual rate of 4.6% from 2025 to 2029, compared to 3.2% for the global economy.
Southeast Asia's approach to fostering relationships with all parties is not without its risks.
With low trade restrictions, the region is attracting an influx of cheap imports from China. As domestic demand weakens, Chinese manufacturers of sundry goods, steel, synthetic fabrics, and other products have begun exporting "deflation" by shipping overstocked inventories. Consequently, Southeast Asia's trade deficit with China, based on a 12-month moving average, rose to USD 10.5 billion in June, marking a 40-fold increase over the same month 20 years earlier.
In Thailand, calls to ban the Chinese bargain shopping site Temu have gained traction on social media since its market entry in July. Many argue that the platform will not benefit the country economically.
Southeast Asia has expanded its external trade by leveraging growing geopolitical tensions worldwide. However, its heavy reliance on international commerce could backfire if global rivalries heat up. The territorial dispute between the Philippines and China in the South China Sea is becoming increasingly violent.
Southeast Asia thus needs to engage in a careful balancing act to navigate these troubled waters.
This article first appeared on <a tabindex="0" href="https://asia.nikkei.com/Spotlight/Datawatch/Southeast-Asia-expands-trade-as-a-neutral-hub-in-a-divided-world" rel="noopener noreferrer" data-token-index="1">Nikkei Asia</a>. It has been republished here as part of 36Kr’s ongoing <a tabindex="0" href="https://www.kr-asia.com/nikkei-teams-up-with-36kr-in-asia-tech-news-coverage/" rel="noopener noreferrer" data-token-index="3">partnership with Nikkei</a>.

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