Most Popular
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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Medical reform committee kicks off despite boycott from doctors
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10-man S. Korea lose to Indonesia to miss out on Paris Olympic football qualification
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DP leader says he will meet Yoon without conditions
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Hybe-Ador feud should have limited effect on Hybe's overall performance: analysts
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Over 9,000 hotline calls made by stalking victims in 2023
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[Hello India] Hyundai Motor vows to boost 'clean mobility' in India
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Second Gimpo civil servant found dead, after apologizing for not finishing work
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Monthly users on local streaming platforms outpace Netflix, Disney+
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US will take steps for three-way engagement on nuclear deterrence with S. Korea, Japan: Campbell
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Samsung Electronics to let go 10 pct of TV sector workers: source
Samsung Electronics Co. is set to cut 10 percent of its development staff in the visual display division, a company source said Thursday.According to a source with knowledge of the matter, the firm is conducting one-on-one talks with the division's employees to discuss leaving the company. The source, who spoke on condition of anonymity because the step has yet to be made public, said the company has already decided on some of the workers who have agreed to leave by end-March.A spokesman for th
March 5, 2015
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Samsung 2nd-most valuable brand around globe
South Korea's top conglomerate Samsung, which holds one of the leading smartphone makers Samsung Electronics Co. under its wing, was declared as the second-most valuable brand in the globe, data showed Thursday.The price tag on the Samsung brand was estimated at $81.7 billion in 2015, up 4 percent from a year earlier, according to the data released by market researcher Brand Finance. The top throne was taken by its bigger rival, Apple, whose brand value was estimated at $128.3 billion.The brand
March 5, 2015
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Asiana agrees to compensate 72 passengers from San Francisco crash
Asiana Airlines Co., South Korea's No. 2 carrier, said Wednesday it has agreed on a settlement with some of the passengers on its 2013 flight that crash-landed in San Francisco, leaving three people dead."It is true that a settlement has been reached in the U.S. federal court with 72 passengers who suffered from the accident two years ago," a company official told Yonhap News Agency. "The financial terms of the agreement, however, is confidential."The official declined to comment further on the
March 4, 2015
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Samsung heir discusses ties with U.S. card firms for new mobile wallet
The heir apparent of South Korea's top conglomerate, Samsung Group, has met with U.S. credit card company executives during his recent visit to the country, seeking possible tie-ups for its new mobile payment platform, Samsung Pay, the group's chief spokesman said Wednesday. Lee Jay-yong, the only son of the group owner Lee Kun-hee, held a meeting with a few chief executives of U.S. credit card firms over the course of his weeklong stay there, said Lee June, the head of Samsung's communications
March 4, 2015
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Samsung carrying out group-wide restructuring: official
South Korea's top family-controlled business giant, Samsung Group, is reorganizing staff at its affiliates, the chief spokesman said Wednesday."As far as I know, each affiliate is conducting (reshuffles of their workforces)," Lee Jun, Samsung Group's top communications official, told reporters. He said the decisions would be based on the judgments of each company and not on orders from the headquarters.Lee also implied that the group may reduce new hirings this year, saying recruitment would dep
March 4, 2015
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Samsung files trademarks for OLED TV in S. Korea
Samsung Electronics Co., South Korea's tech powerhouse, has applied for an exclusive right to the names of its organic light-emitting diode TVs, local patent office sources said Wednesday, in what seems to be a pre-emptive move against a battle over similar brands with home rival LG Electronics Inc. in the premium lineup. Samsung submitted a trademark application for the five names -- Super UHD OLED, Ultra Super OLED, Samsung Super Ultra OLED, Ultra OLED and Super UHD -- in Seoul on Jan. 26, acc
March 4, 2015
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Samsung lags behind competitors R&D spending for chips
South Korea's Samsung Electronics Co. ranks behind its competitors in investing in research and development for chips, a business segment that the tech firm has set out to expand to pick up the slack from weakening handset sales.According to market tracker IC Insights Inc., Samsung came in third after Intel Corp. and Qualcomm Inc. of the United States in R&D spending last year.Samsung allocated $2.96 billion in 2014, compared with Intel's $11.5 billion and Qualcomm's $5.5 billion, the report sai
March 4, 2015
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LG provides electronic parts to Volkswagen's concept car
South Korea's No. 2 tech giant LG Electronics Inc., which recently has been making efforts to tap deeper into the automobile sector, said Wednesday it has provided electronic parts to a concept car made by Italdesign Giugiaro, a design arm of Germany's Volkswagen Group.LG said the concept car "GEA" was being showcased at the Geneva International Motor Show, which runs until March 15. The concept car is equipped with electronics such as displays and cameras, including a 6-inch HD Curved plastic o
March 4, 2015
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LG set to launch high-spec smartphone that beats G lineup
South Korea's No. 2 tech giant, LG Electronics Co., said Wednesday it plans to showcase a high-end smartphone later this year that will come with upgraded specs compared with its flagship G lineup, and narrow gaps with Samsung and Apple."We are planning to release a product that stands above the G series," said Cho Jun-ho, who heads LG's mobile business in a surprise move at the Mobile World Congress that runs in Barcelona, Spain, through Thursday. "It will be launched during the second half of
March 4, 2015
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Samsung says its own mobile payment system available in second half
Samsung Electronics Co., the world's largest smartphone maker, said Wednesday its new mobile payment platform, Samsung Pay, will be available for use by the second half of this year, which is expected to bring changes to the financial technology industry.The South Korean tech giant said it is moving to clinch ties with six local credit card firms by the summer and is aiming to open the service to the public during the second half of 2015.It has already joined forces with at least 10 U.S. financi
March 4, 2015
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Hyundai Motor unveils all-new Tucson at Geneva motor show
Hyundai Motor Co., South Korea's leading automaker, said Tuesday that it has unveiled its all-new Tucson sport utility vehicle (SUV) at a motor show in Geneva in a bid to expand its presence in the fast-growing European SUV market.The Tucson is being showcased at the Geneva International Motor Show, which runs until March 15, along with other vehicles including the new i20 coupe, i30, i40 and ix20, all designed to target the European market, according to the automaker. "We will accelerate our pu
March 3, 2015
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Amore Pacific opts for stock split to boost outstanding shares
Amore Pacific Co., South Korea's leading cosmetics firm, said Tuesday that it would split its stock to boost the number of shares in circulation, making its stock more affordable for retail investors.Earlier in the day, the company's board of directors decided on a 10-1 stock split, with the face value of its common stock and preferred stock to be cut to 500 won per share from the current 5,000 won, meaning that the number of the company's outstanding shares will rise tenfold.The proposal is sub
March 3, 2015
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Viber appeals S. Korean court ruling on patent feud with SK Telecom
Global mobile messenger provider Viber said Monday it will appeal a South Korean court ruling that may ban its local operation, signaling a protracted battle with South Korea's No. 1 mobile carrier, SK Telecom Co."Because Viber believes the court's decision was made in error, it is appealing the court's ruling and anticipates the appeal will show that Viber's technology does not infringe SK Telecom's patent," the company said in a statement. "We won the other three and will be appealing this one
March 2, 2015
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POSCO pushes for asset sale to improve financial soundness
POSCO, South Korea's leading steelmaker, is accelerating its push to sell unnecessary assets as part of its efforts to focus more on its key business and strengthen its financial soundness, industry sources said Monday.According to the sources, POSCO sold 28 billion won ($25.4 million) worth of real estate last year, including buildings and land in Pohang, its main base on the southeast coast and Gwangyang on the south coast. The sale was decided as the assets were regarded as idling or unnecess
March 2, 2015
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LG applies latest wearable to activate Audi
South Korea's No. 2 tech giant, LG Electronics Inc., said Monday it will show how its latest wearable can activate a car in a demonstration using an Audi at an international mobile event in Spain.LG is debuting its new smartwatch, the LG Watch Urbane LTE, at the Mobile World Congress that kicks off this week in Barcelona. The wearable is the world's first to work on the long-term evolution network."A driver can just wear the LG Watch Urbane LTE and press the 'start engine' button to turn on the
March 2, 2015
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Samsung, IKEA team up for wireless-charging furnitures
South Korea's tech giant Samsung Electronics Co. said Monday it will work with Swedish furniture maker IKEA Group on wireless-charging technology for smart devices through furnishings. The announcement followed debut of Samsung's latest flagships, the Galaxy S6 and the Galaxy S6 Edge, that come with a built-in batteries that can be charged without cords, a new technological breakthrough for the industry."This is a perfect match for the Galaxy S6 and its groundbreaking wireless technology, compat
March 2, 2015
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Lotte wins operational license for Jeju downtown duty-free shop
Hotel Lotte won the operational right for a downtown duty-free shop in Jeju, officials said Friday, a move that is anticipated to bolster the company's footing in the South Korean resort island's ballooning duty-free market. Hotel Lotte, among the three applicants that submitted competing bids, will operate one of the island's two downtown duty-free facilities for foreigners for five years, according to the officials. The Jeju bid has drawn keen industry and media attention as a lucrative spri
Feb. 27, 2015
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Samsung Electronics won't merge with healthcare affiliate
South Korean tech giant Samsung Electronics Co. said Friday it will not merge with Samsung Medison Co., its healthcare arm, five months after the handset maker said it was "considering" doing so. "Our company has no plan to merge with Samsung Medison, or split off the medical business," the tech firm said in a regulatory filing. Samsung Medison, a local manufacturer of medical devices, became a Samsung Electronics affiliate in 2011. The tech firm had said in September in response to a confirma
Feb. 27, 2015
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Samsung freezes salaries for 2015 amid earnings slump
South Korea's top tech firm Samsung Electronics Co. said Thursday it has decided to freeze pay for its employees for 2015, as the world's No.1 handset maker struggles to bounce back from a slump in its mainstay mobile business that ate into overall profits. A Samsung official earlier told Yonhap that the company plans to fix this year's salaries, although overall performance incentives, which depend on profits, would not be affected. A company spokesman confirmed, saying, "It is true that the
Feb. 26, 2015
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Daum Kakao's net up 36 pct in Q4
Daum Kakao Corp., the operator of South Korea's top mobile messenger KakaoTalk, said Thursday its net profit rose 36 percent in the fourth quarter from a year earlier, boosted by robust sales from e-commerce platforms and mobile advertising. Net profit reached 50.6 billion won ($45.9 million) in the October-December period, compared with 37.2 billion won the previous year, the company said in a regulatory filing. Operating profit surged 71 percent on-year to 65.7 billion won, with sales coming t
Feb. 12, 2015