Most Popular
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[Exclusive] Korean military set to ban iPhones over 'security' concerns
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Korean, Romanian leaders discuss defense tech, nuclear energy
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S. Korea calls on Japan to confront history amid Yasukuni Shrine visit
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Yoon’s jailed mother-in-law excluded from latest parole list
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Hybe and Min Hee-jin, CEO of Hybe sublabel Ador, lock horns
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[Pressure points] Leggings in public: Fashion statement or social faux pas?
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Korea’s homegrown nanosatellite successfully launches into space
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Aging population to drive down Korea's housing prices from 2040: experts
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Over-50s, men, single-person households take up majority of those filing for bankruptcy
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Hybe's multilabel system tested amid conflict with Ador
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Korean telcos to show off latest AI tech at MWC
Korea’s leading telecommunication firms are to showcase their latest artificial intelligence technologies and services at the upcoming MWC Barcelona 2024, the world’s largest connectivity show slated for next week in Spain. The country’s top two mobile carriers SK Telecom and KT revealed their plans Sunday to set up showrooms at this year's event running from Feb. 26 to 29, with exhibitions mainly focused on AI and next-generation 5G and 6G connectivity. LG Uplus, Korea
Feb. 18, 2024
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SK-backed Sapeon to develop on-device AI chip
Sapeon, a fabless startup backed by South Korean telecom-to-chip conglomerate SK Group, said Friday it would develop a new semiconductor optimized for on-device artificial intelligence as the market has been witnessing significant growth in recent years. The company said it was selected to get support to develop prototypes for commercializing AI chips with edge AI, IoT and embedded computing firm Advantech Korea under the project dubbed Compass, run by the state-run government research institu
Feb. 16, 2024
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Kakao posts record annual sales of W8.1tr in 2023
Kakao said Thursday it logged all-time high annual sales in 2023 due to increased profitability from its mobile messenger, KakaoTalk. The IT giant reported 8.11 trillion won ($6.08 billion) in sales last year, up 14.1 percent from a year earlier. It marks the first time for the company surpassing the 8 trillion won mark in annual sales. Annual net profit, however, fell 13.5 percent on-year to 501.9 billion won and it shifted to a net loss of 1.5 trillion won, from a net profit of 1.07 trillion w
Feb. 15, 2024
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Activist funds demand W1tr Samsung C&T payout
A tense faceoff between shareholders and Samsung C&T management is expected, as five foreign activist funds have teamed up to demand the Korean firm return its profit to shareholders through dividends and a share buyback program that would amount to some 1.2 trillion won ($900 million). In a regulatory filing on Thursday, Samsung C&T reported it has submitted the proposal made by the five activist funds, which includes City of London Investment, for a vote at the upcoming regular shareholders me
Feb. 15, 2024
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Race heats up for multifoldable phones
Chinese tech giant Huawei Technologies is reportedly preparing to launch the world’s first triple-foldable smartphone within the second quarter, aiming to challenge the dominance of Samsung Electronics in the global foldable phone market. Huawei has reportedly begun the development of a triple-foldable phone, which includes three display panels alongside two sets of hinge technologies. The device will likely sport an S- or Z-shaped form factor, according to news reports on Wednesday. The
Feb. 14, 2024
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SK chief headed to Germany, Spain to bolster ties
SK Group Chairman Chey Tae-won is expected to travel to Germany next week, joining an economic delegation as the head of the Korea Chamber of Commerce and Industry, according to industry sources, Tuesday. Chey will be traveling to Berlin on Feb. 19 to take part in various business forums and gatherings, where business and government officials from Korea and Germany are expected to discuss strengthening collaborative efforts. Chey is also expected to travel to Barcelona, Spain, to attend a globa
Feb. 13, 2024
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Apple’s market share exceeds 25% for first time in Korea
US tech giant Apple saw its domestic market share exceed 25 percent for the first time in 2023, slightly narrowing the gap with its archrival Samsung Electronics, despite the global economic downturn and decreased demand, a report showed Tuesday. Apple’s share rose 3 percentage points on-year to reach 25 percent in Korea last year, according to the data by market research firm Counterpoint Research, while maintaining the No. 2 spot in the Korean smartphone market. Samsung kept the No. 1
Feb. 13, 2024
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Samsung, Princeton University team up for 6G network tech
Samsung Electronics said Tuesday its California-based research and development unit has partnered with Princeton University to lead innovation in the sixth-generation telecommunications networking system. Samsung Research America has become a founding member of the corporate affiliates program launched by Princeton University, dubbed the NextG Initiative Corporate Affiliates Program, to lead 6G research and development, the tech giant said. The NextG program aims to bring up technologic
Feb. 13, 2024
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[KH Explains] Why Korea’s platform act faces backlash at home, abroad
Skepticism has grown over the platform act, as the nation’s antitrust watchdog hints at a thorough review of the most contentious aspect of the bill: the preliminary designation of “monopolistic” online platform operators. The Fair Trade Commission on Wednesday announced its decision to review the proposed act to explore whether there is an alternative to the ex ante designation that would have similar effects with less impact on the digital services market, before making a fur
Feb. 12, 2024
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[KH explains] Why ramyeon makers still stick with 'ramen' marketing
Amid soaring exports of Korean instant noodles in recent years, a renewed spotlight has been cast on a decadeslong dilemma among local food companies -- whether or not the word "ramen" should be ditched from their marketing strategy. Ramen, rooted in Japanese culinary tradition, has become a household name globally that refers to noodles in broth. The term "ramen" can also refer to instant noodle products. Amid a growing global presence, Korean businesses have long used the t
Feb. 12, 2024
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Samsung chief inspects battery plant in Malaysia during holidays
Samsung Electronics Chairman Lee Jae-yong last week renewed his will to continue bold investments despite business uncertainties upon his visit to the construction site of a new 1.7 trillion won ($1.2 billion) battery plant in Malaysia. According to the tech giant on Monday, the Samsung chief on Friday visited the Malaysian city of Seremban where Samsung SDI, the battery-making arm of Samsung Group, is building its second plant with its completion set for 2025. Samsung SDI aims to bolster its re
Feb. 12, 2024
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Top 10% of creators take 76 percent of content profits: data
The top 10 percent of content creators accounted for 76 percent of all creators’ total income in 2022, according to data released Thursday. The National Tax Service data, obtained and released by Rep. Yang Kyung-sook of the Democratic Party of Korea, put the number of people who reported income as individual media creators at 39,366 in 2022 and their total aggregated income at 1.14 trillion won ($859 million). The data showed that the majority of the income is concentrated among some highl
Feb. 9, 2024
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Anticipation grows over Samsung chief's next move
As the legal charges have been cleared for Samsung Electronics Chairman Lee Jae-yong in a recent ruling, anticipation is growing that the tech giant will now go in search for mega mergers and acquisitions to secure future growth engines at full throttle. The Seoul Central District Court this week acquitted Lee of charges including stock manipulation linked to the merger of two of Samsung affiliates in 2015. In Korean business culture, legal risks surrounding a company's leader are often per
Feb. 8, 2024
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KT turns to loss in Q4 on higher operating costs
KT Corp., South Korea's major mobile carrier, said Thursday it shifted to a net loss in the fourth quarter from a profit a year earlier due to an increase in operating costs. The company said in a regulatory filing it logged a net loss of 41.7 billion won ($31.4 million) in the last three months of 2023 on a consolidated basis, swinging from a profit of 242.7 billion won a year earlier. Operating income for the October-December period rose 75.4 percent on-year to 265.6 billion won, and sale
Feb. 8, 2024
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FTC hints at review of anti-monoply platform act
South Korea's antitrust regulator on Wednesday said it would review its proposed act aimed at regulating monopolistic practices by major online platform players before making a further legislation push, as opposition voices grow. “We’re communicating extensively with the (related) industries here and abroad and stakeholders to legislate the platform act. … Rather than making the bill public shortly, it was deemed desirable to further collect opinions from the industry and
Feb. 7, 2024
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Stage X defies skepticism, vows to launch service in H1 next year
Stage X, a consortium comprising Kakao affiliate Stage Five and other unidentified companies, selected as the new operator of the 28 gigahertz band of the fifth-generation network in South Korea, said on Wednesday it would launch a nationwide telecommunications service in the first half of 2025. “We aim to become a new deep-tech telecom company that innovates technology and services,” Seo Sang-won, representative of Stage X, said in a press briefing in Seoul, after the consortium b
Feb. 7, 2024
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Samsung chief heads to Middle East after cleared of merger case charges
Samsung Electronics Chairman Lee Jae-yong took off on a business trip to the Middle East and Southeast Asia shortly following Monday’s court ruling that cleared him of stock manipulation charges in a high-profile 2015 merger deal. According to industry sources on Wednesday, Lee took off to the United Arab Emirates on a private jet on Tuesday to inspect local operations and meet partners there. He is also expected to visit Southeast Asia, including Malaysia, to meet with employees and boost
Feb. 7, 2024
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SK hynix to increase use of recycled materials to 30% by 2030
SK hynix, the world's second-largest memory chip maker, on Tuesday announced that it would increase its proportion of materials accounted for by recycled materials to over 30 percent by 2030. The target, as part of the company’s carbon neutrality goal, is the first of its kind set by a semiconductor maker. Under the plans, the company aims to first increase recycled material usage to 25 percent by 2025. The company said the target is a part of its plans to implement its carbon neutral
Feb. 6, 2024
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Court clears Samsung chief of all charges
A Seoul court acquitted Samsung Electronics Chairman Lee Jae-yong of all charges related to a 2015 merger fraud case on Monday, clearing the path for the country's biggest tech giant to push forward with investment for future technologies. In the final verdict handed down at 2:55 p.m., judges at the Seoul Central District Court found Lee and 13 other defendants -- former executives of Samsung -- all not guilty. The court dismissed the allegations proposed by prosecutors, who claimed that Lee and
Feb. 5, 2024
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[Gadget Review] Real-time call translation: SKT A. vs. Galaxy S24 Ultra
More and more artificial intelligence services are becoming available for use in daily life, and one of the breakthrough applications is set to come in real-time translation built into phone calls. In its latest flagship smartphone, the Galaxy S24 series, Samsung Electronics presented its Live Translate feature for the first time. This feature competes directly with SK Telecom's A., a mobile app developed by the mobile carrier to allow iPhone users in Korea to explore real-time translation
Feb. 5, 2024