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NCT WISH is positioning itself as the top rookie group of 2024 with the release of their track 'Steady.'

NCT WISH is positioning itself as the top rookie group of 2024 with the release of their track 'Steady.'

NCT WISH's rapid rise with their mini-album Steady shows their strong fan support and growth in the K-pop scene.

Unravel Korea
September 25, 2024

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Korean companies are increasingly monetizing their patents to unlock liquidity.
Childbirths in Korea saw their largest increase in 12 years this July.
NCT WISH is positioning itself as the top rookie group of 2024 with the release of their track 'Steady.'

NEWS 📰

According to Burford Capital, Korean companies are increasingly monetizing their patents to unlock liquidity.

In recent years, Korean conglomerates have increasingly monetized their intellectual property (IP), including patents, as a strategic move to unlock financial liquidity and gain leverage in business negotiations. According to a report by Burford Capital, a legal finance firm, companies like SK Hynix, LG Electronics, and Samsung have conducted significant IP transactions to generate revenue and optimize their portfolios.

In 2024, SK Hynix sold over 1,500 patents to Ideahub, a Korean patent aggregator, while LG Electronics sold 48 codec-related patents to Oppo following its exit from the smartphone market. LG Energy Solutions is also focusing on creating a patent licensing pool for electric vehicle batteries, reflecting its leadership in this area. Meanwhile, Samsung continues to monetize its extensive patent portfolio, establishing multiple licensing agreements that provide immediate revenue and forge long-term partnerships.

The reasons for these monetization strategies vary. For some companies, like LG Electronics, exiting a business line reduces the need to retain specific IP. For others, the high cost of maintaining patents, including R&D investments and legal expenses, prompts them to turn their IP into new revenue streams. In an uncertain economy, these efforts help companies manage capital efficiently while reducing operational burdens and ensuring financial returns from their legal assets.

These moves highlight a growing recognition of the financial value of patents in competitive industries like technology and electronics.

Childbirths in Korea saw their largest increase in 12 years this July.

In July 2024, Korea saw a notable 7.9% rise in the number of babies born, marking the largest year-on-year increase for any July since 2012. A total of 20,601 babies were born, up by 1,516 compared to July 2023. This growth is attributed to a surge in marriages that occurred between the second half of 2022 and the first half of 2023, following delays caused by the COVID-19 pandemic.

However, despite this rise in births, the overall demographic situation remains concerning. During the first seven months of 2024, the number of babies born dropped by 1.2% year-on-year, totaling 137,913 births. Korea's total fertility rate hit a record low of 0.71 in the second quarter of 2024, far below the replacement level of 2.1 births per woman required to maintain a stable population.

The number of deaths in July 2024 reached 28,240, continuing a trend since late 2019, where deaths have consistently outnumbered births. This contributed to a population decline of 7,639 for the month. Korea's demographic challenge is further complicated by changing social norms, delayed marriages, high housing costs, and a tough job market, leading many young people to postpone or forgo having children.

Korea’s population is projected to decline significantly, with the median age expected to rise from 44.9 in 2022 to 63.4 by 2072. The overall population is forecasted to fall from 52 million today to around 36 million by that time, transforming Korea into a highly aged society.

ENTERTAINMENT 🌄

NCT WISH is positioning itself as the top rookie group of 2024 with the release of their track 'Steady.'

NCT WISH's rapid rise with their mini-album Steady shows their strong fan support and growth in the K-pop scene. The group's impressive pre-order numbers and contributions from industry veterans like BoA signal their potential to become major players in 2024, especially with their focus on creative promotions.