Alibaba

Baidu

ByteDance (TikTok)

DeepSeek

Meituan

Pinduoduo (Temu)

Xiaohongshu (RedNote)

Most Watched

Southeast Asia

China

Middle East

Japan

South Korea

Europe

Places

KrASIA Connection

Deals in Brief

Our Events

View All Collections

Collections

Events

Ecosystem

Insights

Features

About

36Kr (EN)

News

… started offering more scholarships for medical students and the parliament in 2023 passed a law allowing the recruitment of foreign specialists. But Sadikin said granting foreign doctors a license to practice in Indonesia remained tough.
This is largely because of resistance from the Indonesian Medical Association, or IDI, which demands that foreign recruits speak Indonesian and the recruitment be based on a "clear mapping" of needs.
"In principle, IDI has never rejected foreign doctors," the association's deputy chairman, Mahesa Paranadipa Maikel, told Nikkei. "IDI is just reminding [the government] … that there should be no welfare disparity between Indonesian and foreign doctors."
"Defense and security aspects also need to be considered … including access to health data and information," he added.
Sources familiar with the development of BIH, who spoke to Nikkei on condition of anonymity, suggested that the difficulty in attracting foreign recruits was contributing to the delayed opening, which was originally planned for 2023. The Bali hospital has indicated it intends to hire at least nine foreign specialists, but no practice license has been granted to any so far, according to one anonymous source.
Pertamedika IHC, the parent company of BIH, previously flaunted Mayo Clinic as its main partner for the project. But in 2023, the US hospital operator clarified that it would only serve in a consulting role and would not be involved in the operations.
"BIH should have been operational by now to serve as a foundation for other clinics, allowing them to rely on it for patients' medical checkups," one of the anonymous sources said.
The management of BIH and Pertamedika did not respond to Nikkei's requests for comments.
Despite the setback, InJourney continues to develop the area, investing 10 trillion rupiah into the project.
It has built a 5,000-delegate-capacity convention center and is revamping two beachfront hotels that are already open. It is also looking to host eight privately run clinics offering services ranging from stem cell treatment and geriatric care to hair transplants and plastic surgery.
InJourney CEO Maya Watono told Nikkei that foreign clinics are partnering with local health providers to build these centers and expected to bring "significant investment to the region." They include Germany's Alster Lake Clinic, which will build a cellular and antiaging therapy facility, and Malaysia's Alpha IVF, which will offer fertility treatments.
Christine Hutabarat, CEO of Hotel Indonesia Natour, InJourney's hospitality arm, estimated additional investments of up to IDR 10 trillion (USD 612 million) would be needed. "The Sanur aims to become the top choice for wealthy Indonesians seeking world-class medical treatment by early 2027."
Felicia Thje, a businesswoman from Surabaya, East Java, said she had been going to South Korea for aesthetic treatments, spending at least IDR 60 million (USD 3,672) for each procedure.
"Skin care and plastic surgery in South Korea really feel like self-care. The clinic takes care of everything, from accommodation, meals, and recovery, until I'm ready to go home," Thje said.
She added she might consider going to Bali instead, but wants to hear reviews from others first to see if "the services and results of treatments in Sanur ... match those in South Korea."
This article first appeared on <a href="https://asia.nikkei.com/Spotlight/ASEAN-Money/Indonesia-makes-1bn-health-care-bet-to-keep-rich-patients-at-home">Nikkei Asia</a>. It has been republished here as part of 36Kr’s ongoing partnership with <a href="https://www.kr-asia.com/nikkei-teams-up-with-36kr-in-asia-tech-news-coverage/">Nikkei</a>.

Indonesia makes billion-dollar health care bet to keep rich patients at home

Health Tech

Indonesia

… pinpoint where it’s happening—whether in the low-level controls, AI logic, or application software—and deploy a fix efficiently. That’s what makes our robots not only adaptable but also highly reliable in industrial environments.
<h3>36Kr: Right now, consumer robotics still accounts for a significant share of revenue. How do you view UBTech’s overall business composition?</h3>
JJ: Over the past year, our smart logistics segment has generated the highest revenue and is also our fastest-growing business unit. However, we’re seeing a balanced contribution across AI education, smart logistics, and consumer robotics. This balance is something we’re happy about—it reflects a diversified business model rather than an overreliance on any single category.
<h3>36Kr: UBTech Robotics is currently prioritizing B2B industrial applications. What is the long-term strategy for commercial and consumer markets? When do you expect to fully enter the consumer space?</h3>
JJ: It’s not about returning to the consumer market—we’ve always been working toward it. While we estimate that consumer humanoid robots will take around ten years to become commercially viable, that doesn’t mean we’re putting the space on hold. Our approach is centered on steady progress rather than a sudden market entry.
<h3>36Kr: How will UBTech expand from industrial applications into the consumer market?</h3>
MT: Our strategy follows a three-step roadmap. The first phase focuses on deploying humanoid robots in industrial settings, where they are already proving their value in factory operations. Once that foundation is established, we will gradually expand into commercial service applications, such as hotels, reception desks, and airports. The final stage will be the introduction of humanoid robots for household use, which we see as the most promising long-term application.
In the consumer space, we are taking a phased approach. The first milestone is companion robots—robots designed to understand user actions and provide meaningful interactions. We are currently developing biomorphic humanoid robots specifically for companionship. Once we establish a strong presence in this area, the next step will be full-service robots capable of executing complex household tasks. At this stage, humanoid robots will already be able to comprehend and break down intricate commands. As their mobility and dexterity improve, they will eventually evolve into fully functional home assistants.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3163391423179522">article</a> was written by Song Wanxin for 36Kr.

UBTech’s humanoid robots ditch the spotlight for car assembly lines

Robotics

Deep Tech

BYD led China's passenger vehicle market in sales for the first time in 2024, highlighting the rise of privately owned companies in an industry long dominated by partnerships between state-owned and foreign automakers.
BYD's sales jumped 46% on the year to about 3.65 million vehicles, according to data compiled by MarkLines by corporate group. Sales at Zhejiang Geely Holding Group, another private automaker, grew 30% to rank third at 2.01 million vehicles.
Foreign automakers lost ground across the board. Volkswagen, which led the market for decades and once sold more than 4 million vehicles a year in China as a group, slipped to second place after sales sank 6% to 2.98 million. General Motors saw a 10% drop. Toyota Motor and Honda Motor also logged declines.
The Chinese government have, since the late 1980s, sought to foster its automotive industry through joint ventures between a few state-owned enterprises and foreign automakers that could supply them with technology. Volkswagen, GM, Toyota, and others grew their market share through tie-ups with the original "big three" of China FAW Group, SAIC Motor, and Dongfeng Motor.
More recently, technological innovation has allowed private automakers to take the lead.
As the government encouraged broader adoption of electric vehicles and plug-in hybrids, the likes of BYD and Geely prioritized these new energy vehicles. The industry has recently also seen such technology-sector entrants as Huawei Technologies and Xiaomi.
Sales of new energy vehicles, including exports, grew 36% to 12.86 million units in 2024, making up 41% of overall new automotive sales, data from the China Association of Automobile Manufacturers shows. Foreign and big state-owned companies that have arrived late to the game have become <a href="https://asia.nikkei.com/Business/Automobiles/China-s-foreign-auto-joint-ventures-lose-luster-under-EV-onslaught">less competitive</a> as a result.
GM last quarter booked USD 4 billion in charges related to restructuring Chinese joint ventures with SAIC Motor. Japanese automakers have been cutting staff and production capacity in the country.
State-owned Dongfeng and Chang'an Automobile said on February 9 that their parent companies each <a href="https://asia.nikkei.com/Business/Automobiles/Chinese-automakers-Changan-and-Dongfeng-seen-weighing-merger">plan to merge</a> with an unnamed "central state-owned enterprise," spurring speculation that the two will combine with each other. This could affect Honda and Nissan Motor, which have joint ventures with Dongfeng.
The ascent of private Chinese automakers has also begun to affect the global market, as BYD, Geely, and others leverage the cost-competitiveness they have honed in the world's largest auto market to make inroads abroad.
BYD's <a href="https://asia.nikkei.com/Spotlight/Electric-cars-in-China/BYD-global-sales-pass-4m-milestone-driven-by-plug-in-update">global sales</a> grew 41% to 4.27 million vehicles in 2024, surpassing Honda, Nissan, and Suzuki Motor for the first time. Although only about 10% were sold outside China, the company is gaining ground in Southeast Asia and Latin America.
Geely and its group brands logged record global sales of 3.33 million vehicles and aims to reach 5 million in 2027. Its Zeekr luxury EV line is available in over 40 markets.
The fierce competition among China's automakers in such areas as EVs, autonomous driving technology, and software-defined vehicles could make the country a main driver of innovation in the industry. The merger talks between Honda and Nissan came about partly as a way to <a href="https://asia.nikkei.com/Business/Automobiles/Honda-and-Nissan-to-begin-merger-talks-amid-EV-competition">compete with Chinese rivals</a>.
The US and the European Union, worried about China's growing car exports, have responded with tariffs. Chinese automakers, in turn, are moving to build cars in Europe to avoid duties there, and US President Donald Trump has made comments suggesting an openness to Chinese production on US soil.
This article first appeared on <a href="https://asia.nikkei.com/Business/Automobiles/BYD-takes-lead-in-China-auto-market-once-driven-by-state-backed-players">Nikkei Asia</a>. It has been republished here as part of 36Kr’s ongoing partnership with <a href="https://www.kr-asia.com/nikkei-teams-up-with-36kr-in-asia-tech-news-coverage/">Nikkei</a>.

BYD takes lead in China automotive market once driven by state-backed players

East Asia

Transportation

Electric Vehicles

Mobility

… into new product categories and adjacent industries.
Ultimately, success in Europe demands more than just great products. Companies must develop precise branding and marketing strategies, forge strong distributor relationships, and build robust after-sales and logistics networks to ensure smooth market penetration.
As competition intensifies, only those willing to adapt and invest for the long haul will maintain their edge in the European market.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3160594876128002">article</a> was written by Huang Nan for 36Kr.

As Europe trades down, can Chinese smart hardware win over consumers?

Retail

Consumer Services

… strengthening AI-powered voice capabilities</h3>
Zendesk, a global provider of artificial intelligence-powered customer service solutions, has signed a definitive agreement to acquire Local Measure.
Local Measure specializes in “contact center as a service” and AI-driven voice solutions designed for high-volume, complex service environments. Its technology offers automation, call routing, and real-time insights to enhance service quality.
The acquisition is expected to bolster Zendesk’s capabilities, allowing businesses to implement more sophisticated customer engagement strategies. The transaction, subject to customary regulatory approvals, is expected to close in May 2025.
<h3>Kyobo Life invests in AIFT to advance AI security in South Korea</h3>
Kyobo Life Insurance, through its technology subsidiary Kyobo Digital Technology Services (Kyobo DTS), has invested in AIFT, an AI security solutions provider. The partnership aims to introduce generative AI vulnerability assessment and protection solutions to South Korean enterprises.
AIFT’s technology enables organizations to identify, evaluate, and mitigate AI-related security risks—a crucial capability ahead of South Korea’s planned AI risk management mandates starting in 2026.
Kyobo DTS will lead local sales and marketing efforts while integrating AIFT’s AI security solutions into its broader enterprise digital transformation strategy.
<figure id="attachment_152107" aria-describedby="caption-attachment-152107" style="width: 1024px" class="wp-caption alignnone"><img loading="lazy" decoding="async" class="size-large wp-image-152107" src="https://console.kr-asia.com/wp-content/uploads/2025/03/Kyobo-Life-AIFT-1024x683.jpg" alt="" width="1024" height="683" srcset="https://console.kr-asia.com/wp-content/uploads/2025/03/Kyobo-Life-AIFT-1024x683.jpg 1024w, https://console.kr-asia.com/wp-content/uploads/2025/03/Kyobo-Life-AIFT-300x200.jpg 300w, https://console.kr-asia.com/wp-content/uploads/2025/03/Kyobo-Life-AIFT-768x512.jpg 768w, https://console.kr-asia.com/wp-content/uploads/2025/03/Kyobo-Life-AIFT-1536x1024.jpg 1536w, https://console.kr-asia.com/wp-content/uploads/2025/03/Kyobo-Life-AIFT.jpg 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption id="caption-attachment-152107" class="wp-caption-text">Photo courtesy of AIFT.</figcaption></figure>
whereRelatedArticle
<h3>Edge Tutor, Techcoop, InsuranceDekho, and more made recent headlines:</h3>
<ul>
<li aria-level="1">Edge Tutor, an online tutoring outsourcing company, received USD 1 million in a pre-Series A funding round from Seaborne Capital, M Venture Partners, Kaya Founders, Orvel Ventures, Ideaspace, the Lorinet Foundation, and angel investors.</li>
<li aria-level="1">Techcoop, a Vietnam-based agritech platform, bagged USD 70 million in a Series A funding round, comprising equity and debt financing. The equity portion was co-led by TNB Aura and AVV, with participation from BlueOrchard, FMO, AppWorks, and Capria Ventures.</li>
<li aria-level="1">InsuranceDekho, an insurtech platform, raised USD 70 million in a follow-on funding round co-led by Beams Fintech Fund, Mitsubishi UFJ Financial Group (MUFG), and BNP Paribas Cardif’s insurtech fund managed by Eurazeo.</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>.
<style>.addcaption{font-size:14px!important;line-height:20px!important;color:inherit;padding-top:8px;border-top:1px solid #e8e8e8}.entry-content blockquote p{font-size:22px;line-height:33px}@media only screen and (max-width:767px){.entry-content blockquote p{font-size:20px;line-height:32px}.entry-content h3{font-size:24px;line-height:32px}}</style>

Deals in brief: Wavemaker Impact launches Zentide, Arus Oil and Bumame secure funding, Kredivo acquires GajiGesa, and more

Venture Capital

Private Equity

Investment

Merger &amp; Acquisition

Singapore

Malaysia

Vietnam

Australia

Oceania

The latest wave of South Korean culture sweeping through Japan stands out from previous ones in how deeply it has penetrated the market in areas like food, cosmetics, and other goods.
At a grocery store in Tokyo's Katsushika ward, South Korean favorites like fruit vinegar and "mandu" dumplings stood out on the shelves.
The vinegar is popular among women, and has spread to about 50% of retailers since being released in the country a decade ago, according to CJ Foods Japan, the Japanese subsidiary of leading South Korean food company CJ CheilJedang that distributes the products.
CJ CheilJedang is adopting a strategy of collaboration with Japanese food manufacturers, including snack and dairy product maker Meiji.
In 2024, it launched a drink combining its fruit vinegar with Meiji's yogurt. The drink has already surpassed products from Mizkan, a venerable Japanese vinegar maker, to take the top spot in the domestic vinegar drink market.
CJ is in discussions with Meiji to sell a smaller size at Japanese convenience stores from this March. "If the opportunity arises, we would like to expand our collaboration with companies other than Meiji, such as in carbonated drinks," said a department head at CJ Foods Japan.
CJ manufactures mandu at facilities in Japan it acquired from Japanese "gyoza" dumpling maker Gyozakeikaku in 2019, selling them under the Bibigo brand. It is aiming to plant deep roots in the Japanese market through partnerships and acquisitions, eyeing new business opportunities.
While South Korean food and beverage products are gradually carving out a place in the Japanese market through collaboration with local players, cosmetics are already at the top, as South Korea surpassed France to become the number one import source by value in 2022.
South Korean brands have achieved low prices by utilizing social media-based advertising and promoted themselves by hiring popular influencers and idols.
Cosmetics chain Olive Young established a Japanese subsidiary in May 2024. The South Korea company has not yet decided on opening a physical store in Japan, but is gathering data on the brands it handles and looking for opportunities.
This most recent wave of South Korean culture is spreading to previously nascent sectors like stationery and sundries. Loft, a Japanese general goods store popular with foreign tourists, hosted a limited-time event in October 2024 for goods related to Zanmang Loopy, a popular South Korean character.
"As attention is focused on South Korean cosmetics, related products like stationery with characters have also started to attract attention," said a Loft representative.
At a South Korean cosmetics event held at the store from October 2024, sales were up 40% from the previous year, with the buzz spilling over to sundries as well.
Shopping center chain Parco, meanwhile, partnered with Hyundai Department Store in April 2024, opening a pop-up store at a Parco in <a title="" href="https://asia.nikkei.com/Spotlight/Society/Tokyo-s-Shibuya-scrubs-away-graffiti-as-companies-lend-hand" target="_blank" rel="noopener">Tokyo's Shibuya district</a> selling goods from South Korean apparel brand Emis and others.
The South Korean government is backing these initiatives. In the food sector, Seoul began promoting exports as part of its "K-food+" export innovation strategy after the 15-country Regional Comprehensive Economic Partnership came into effect in 2022, to which Japan and South Korea belong.
As part of this initiative, the Korea Trade-Investment Promotion Agency held the Korea Brand &amp; Entertainment Expo (KBEE) for three days in October 2024, combining entertainment with business exchanges.
Against the backdrop of a K-pop idol concert for about 40,000 Japanese fans at Saitama Super Arena outside Tokyo, instant noodles, cosmetics, and other South Korean products were on display.
South Korean products often use promotions linked with entertainment like K-pop and movies.
CJ, which has a division dedicated to entertainment, released products in collaboration with the second season of the <a title="" href="https://asia.nikkei.com/Business/Media-Entertainment/Squid-Game-draws-tie-ins-with-Samsung-Kia-and-more-before-new-season" target="_blank" rel="noopener">Netflix drama "Squid Game," </a>which began streaming worldwide in late December 2024. Packaging for mandu and other items featured the show's characters, as the company looks to expand sales channels beyond Japan.
Although South Korean food exports to Japan are still small, "many food products from South Korea do a good job of incorporating the Korean image of beauty and health, and are creating trends in Japan, especially among young people," said a representative of Meiji's global dairy business division.
<a title="" href="https://asia.nikkei.com/Business/Business-deals/Japan-s-Kose-to-buy-Thai-beauty-brand-Panpuri" target="_blank" rel="noopener">Japanese skin care company Kose</a> is also keeping a close eye on South Korean trends. "South Korean brands are very well received in Global South markets," said Kose president Kazutoshi Kobayashi. "We'd like to copy their good points and quickly release products suitable for the local market."
This article first appeared on <a href="https://asia.nikkei.com/Business/Food-Beverage/South-Korean-food-and-cosmetics-drive-Japan-s-latest-K-boom">Nikkei Asia</a>. It has been republished here as part of 36Kr’s ongoing partnership with <a href="https://www.kr-asia.com/nikkei-teams-up-with-36kr-in-asia-tech-news-coverage/">Nikkei</a>.

South Korean food and cosmetics drive Japan's latest K-boom

… Legend Capital Management, with participation from the Beijing Robot Industry Fund and Shenqi Capital. The funding will be used to train its next-generation embodied AI model and advance real-world applications. —<a href="https://36kr.com/p/3169383010544393">36Kr</a></li>
</ul>
whereRelatedArticle
<h3>Nexmedis, KKR, Demuzo, and more made recent headlines:</h3>
<ul>
<li aria-level="1">Nexmedis, an Indonesia-based provider of health information systems (HIS), raised an undisclosed amount in a funding round co-led by East Ventures and Forge Ventures.</li>
<li aria-level="1">KKR, a global investment firm, acquired a stake in Employment Hero, an employment management platform, from SEEK Investments. The financial terms were not disclosed. SEEK Growth Fund remains a significant investor in the company.</li>
<li aria-level="1">Demuzo, an Indonesia-based music technology startup, secured USD 600,000 in pre-seed funding from angel investors to launch its music investment platform.</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>.
<style>.addcaption{font-size:14px!important;line-height:20px!important;color:inherit;padding-top:8px;border-top:1px solid #e8e8e8}.entry-content blockquote p{font-size:22px;line-height:33px}@media only screen and (max-width:767px){.entry-content blockquote p{font-size:20px;line-height:32px}.entry-content h3{font-size:24px;line-height:32px}}</style>

Deals in brief: Edge Tutor and Techcoop raise funding, Airtree Ventures backs Twine, GCL acquires stake in Nekcom Games, and more

Philippines

New Zealand

India

… Harman Kardon 16-speaker setups, while top-tier models offer Bowers &amp; Wilkins audio with 30 speakers.
I remember when head-up displays (HUDs) first appeared in BMWs. I used to show off my car’s HUD everywhere I went—it was a cutting-edge feature back then. Now, HUDs, digital instrument panels, and premium sound systems are standard even in BMW’s entry-level models. Prices have become more accessible, yet features have only improved.
Some argue that BMW has cut costs on certain models, but I see it differently.
Take the latest BMW X5, for instance. The new generation no longer includes a trunk-mounted power outlet. I asked BMW engineers why, and they explained that over 90% of users never utilized it. Removing an underused feature to optimize other aspects of the car isn’t a downgrade—it’s progress.
I will continue to support BMW, but I also hope the brand keeps up with the rapid evolution of in-car technology. BMW pioneered active steering and HUD technology—now it needs to push further into smart vehicle innovations.
Additionally, BMW should expand its fan engagement activities across China. More people should have the opportunity to experience the brand’s heritage and its latest innovations firsthand.
Each year, hundreds of new cars enter the market, and technology evolves at a dizzying pace. But ultimately, it’s the driving experience that speaks for itself. Every car tells a story, and it’s the owners who bring those stories to life.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3110097184476678">article</a> was written by Xu Caiyu for 36Kr.

Driver’s diary: A loyalist on why he’s owned 19 BMW cars—and counting

Singaporean entertainment group Neon Group said its sales are growing by more than 20% a year, driven by the popularity of its immersive experiences among young consumers.
Ron Tan, CEO of Neon, which operates exhibitions using IP drawing on pop culture and history, said the company would continue to expand in developed countries, including Japan, despite the uncertain global economic outlook.
Tan was in Tokyo to announce an Egyptian-themed immersive exhibit, which will open its doors in March. It is operated by a joint venture between Neon, Sankei Building, and a real estate subsidiary of Itochu. For Neon, which holds content licenses for movie hits like Jurassic World and Avatar, this will be its first permanent facility in Japan.
<figure id="attachment_151955" aria-describedby="caption-attachment-151955" style="width: 640px" class="wp-caption aligncenter"><img loading="lazy" decoding="async" class="wp-image-151955" src="https://console.kr-asia.com/wp-content/uploads/2025/02/Neon-Avatar-The-Way-of-Water-1024x576.jpg" alt="Photo of a sculpt representation of the Ilu, a marine creature from Avatar: The Way of Water, which was exhibited at Singapore's Gardens by the Bay." width="640" height="360" srcset="https://console.kr-asia.com/wp-content/uploads/2025/02/Neon-Avatar-The-Way-of-Water-1024x576.jpg 1024w, https://console.kr-asia.com/wp-content/uploads/2025/02/Neon-Avatar-The-Way-of-Water-300x169.jpg 300w, https://console.kr-asia.com/wp-content/uploads/2025/02/Neon-Avatar-The-Way-of-Water-768x432.jpg 768w, https://console.kr-asia.com/wp-content/uploads/2025/02/Neon-Avatar-The-Way-of-Water-1536x864.jpg 1536w, https://console.kr-asia.com/wp-content/uploads/2025/02/Neon-Avatar-The-Way-of-Water-480x270.jpg 480w, https://console.kr-asia.com/wp-content/uploads/2025/02/Neon-Avatar-The-Way-of-Water.jpg 1920w" sizes="(max-width: 640px) 100vw, 640px" /><figcaption id="caption-attachment-151955" class="wp-caption-text">Visitors to Neon's exhibit at Singapore’s Gardens by the Bay experienced a sculpted representation of the Ilu, a marine creature from Avatar: The Way of Water. Photo of the exhibit, courtesy of Neon.</figcaption></figure>
He said the business would weather weak consumer sentiment in some of its markets. The company's revenues are currently increasing by 20–30% a year. "We're growing rapidly," he told Nikkei Asia.
Tan said experiential entertainment had innate strengths in difficult economic conditions, citing the resilience of the movie industry during the 2008 recession. "Right now, the younger generation in their 20s [and] 30s are more into the experience ... into what you feel inside rather than what you have outside."
Neon positions its experiences in the midprice range, catering to the needs of a wide bracket of income groups, which could be beneficial in an inflationary climate, he said. For example, pricing for adult tickets for the Harry Potter: Visions of Magic interactive art exhibit in Singapore start at SGD 49 (USD 36.30). Neon's focus on the domestic consumer rather than foreign tourists, and experiences over merchandise sales, is an advantage in an unstable economic situation, Tan noted.
<figure id="attachment_151953" aria-describedby="caption-attachment-151953" style="width: 640px" class="wp-caption aligncenter"><img loading="lazy" decoding="async" class="wp-image-151953" src="https://console.kr-asia.com/wp-content/uploads/2025/02/Neon-Harry-Potter-Grimmauld-Place-1024x576.jpg" alt="Photo of an exhibit depicting Grimmauld Place from the Harry Potter series, showcased as part of an interactive art experience at Singapore’s Resorts World Sentosa." width="640" height="360" srcset="https://console.kr-asia.com/wp-content/uploads/2025/02/Neon-Harry-Potter-Grimmauld-Place-1024x576.jpg 1024w, https://console.kr-asia.com/wp-content/uploads/2025/02/Neon-Harry-Potter-Grimmauld-Place-300x169.jpg 300w, https://console.kr-asia.com/wp-content/uploads/2025/02/Neon-Harry-Potter-Grimmauld-Place-768x432.jpg 768w, https://console.kr-asia.com/wp-content/uploads/2025/02/Neon-Harry-Potter-Grimmauld-Place-1536x864.jpg 1536w, https://console.kr-asia.com/wp-content/uploads/2025/02/Neon-Harry-Potter-Grimmauld-Place-480x270.jpg 480w, https://console.kr-asia.com/wp-content/uploads/2025/02/Neon-Harry-Potter-Grimmauld-Place.jpg 1920w" sizes="(max-width: 640px) 100vw, 640px" /><figcaption id="caption-attachment-151953" class="wp-caption-text">Photo of an exhibit depicting Grimmauld Place from the Harry Potter series, showcased as part of an interactive art experience at Singapore’s Resorts World Sentosa. Photo courtesy of Neon.</figcaption></figure>
Neon was set up as Cityneon in 1956 and rebranded as Neon in 2022. It has hosted events, mostly in temporary venues, in at least 80 cities globally that were attended by more than 16 million people, according to the company. The Singaporean company has a robotics and IP management company under its umbrella, enabling it to produce more immersive experiences than its competitors.
The company typically operates special exhibitions by renting venues for limited periods. Its first permanent facility, Crevia Base Tokyo, will host exhibitions for around six to 12 months.
The company sees an opportunity to expand in Japan through collaboration with holders of <a title="" href="https://asia.nikkei.com/Business/Markets/Equities/Shogun-shines-stock-market-spotlight-on-Japan-pop-culture" target="_blank" rel="noopener">valuable Japanese IP</a>, Tan said. Neon is also looking to build permanent venues in other developed nations, or relatively rich Asian cities. It is considering Bangkok, Paris and an unspecified city in Germany as possible locations.
The confident tone from the head of the entertainment company comes despite uncertainty over the global economy, which faces the possibility of higher trade tariffs under US President Donald Trump.
Economic growth was flat in the eurozone in the fourth quarter ending in December 2024, weighed down by countries such as Germany, which is struggling with high energy costs and other difficulties.
ASEAN was more of a mixed bag. Singapore's economy saw a robust 4% expansion in 2024. In Indonesia, Southeast Asia's largest economy, gross domestic product <a title="" href="https://asia.nikkei.com/Economy/Indonesia-s-tepid-5.03-growth-undermines-Prabowo-s-8-goal" target="_blank" rel="noopener">expanded</a> at the slowest pace in three years in 2024.
This article first appeared on <a href="https://asia.nikkei.com/Business/Media-Entertainment/Singapore-s-Neon-says-immersive-experience-business-is-growing">Nikkei Asia</a>. It has been republished here as part of 36Kr’s ongoing partnership with <a href="https://www.kr-asia.com/nikkei-teams-up-with-36kr-in-asia-tech-news-coverage/">Nikkei</a>.

Singapore's Neon says immersive experience business is growing

Entertainment

Creative