Most Popular
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Yoon sorry for shortcomings but insists policies were right
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S. Korea ‘strongly’ protests Japan’s claim over Dokdo in diplomatic bluebook
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US 'incredibly concerned' about suspected NK-Iran military ties
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Korean won weakens amid heightened uncertainty
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1 in 3 Koreans live alone, family types becoming diverse
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Sewol victims commemorated on tragedy's 10th anniversary
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Seoul says will cut power to porn festival planned on Han River
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Chanel, Louis Vuitton see muted growth in Korea
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Conservative bloc divided over Han’s role in election defeat
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Korea, Japan finance chiefs vow to tame rampant FX market volatility
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Korea aims for top start-up accelerator nation
The Korean government on Wednesday announced a set of new plans to support start-ups and encourage entrepreneurship overall with aims to become one of the top seven start-up accelerating nations by the end of this year. The Ministry of Science, ICT and Future Planning unveiled its 2016 work plans that, among other things, aim to vitalize the start-up sector and support research and development projects for ICT, science and biotechnology. The ministry did not specify the budget for the plans bu
Jan. 27, 2016
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Samsung Electronics’ foreign ownership falls to 27-month low
Stocks held by foreign investors in Samsung Electronics dropped to the lowest level in 27 months amid growing concerns about the global economy, data showed Wednesday. Offshore investors owned 48.97 percent of Samsung Electronics shares as of Monday, marking the lowest since Oct. 2, 2013, when the figure came to 48.94 percent, according to data by the Korea Exchange. Foreign stock ownership of the country’s top-cap company has been on the decline since July, when it reached a yearly peak of 51.8
Jan. 27, 2016
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LG Chem's operating profit jumps 40% on-year in 2015
Despite global economic woes last year, LG Chem saw its operating profit increase by 39.1 percent to 1.82 trillion won, compared to the preceding year, according to the firm’s annual earnings report released Tuesday. The company’s annual revenue, however, decreased to 20.21 trillion won, down 10.5 percent from the year before. The chemical and battery business affiliate of LG Group said in the earnings report that “Overall sales have decreased due to slow recovery of the global economy and oil
Jan. 26, 2016
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SK Broadband unveils new mobile media platform
In response to the launch of video-streaming service Netflix in the Korean market earlier this month, SK Broadband, an Internet and pay TV services provider, has introduced a new mobile media platform. Called Oksusu, which is the Korean word for corn, it combines the firm’s on-demand mobile TV service Btv and video-streaming service Hoppin. The wholly owned subsidiary of SK Telecom said it would focus on making a wide range of video content available on the new platform. Oksusu will feature the
Jan. 26, 2016
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LG Display turns to net loss in Q4
South Korean panel giant LG Display Co. said Tuesday it swung to a net loss in the fourth quarter from a year earlier due to falling global panel prices.The net loss came to 13.5 billion won ($11.2 million) in the October-December period, compared to a profit of 389.2 billion won posted a year earlier, LG Display said in a regulatory filing. (Yonhap)Sales dropped 10.1 percent on-year to 7.49 trillion won in the fourth quarter, and its operating profit crashed 90.3 percent over the cited period t
Jan. 26, 2016
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LG Electronics' net loss narrows in Q4
South Korean tech giant LG Electronics Inc. said Tuesday its net loss narrowed in the fourth quarter from a year earlier on strong sales of premium TVs and home appliances, despite a poor performance from its smartphone business.Net loss came to 140.4 billion won ($117 million) in the October-December period, compared with a deficit of 205.6 billion won during the same period in 2014, LG Electronics said in a regulatory filing.Sales shed 4.7 percent on-year to 14.5 trillion won, and operating pr
Jan. 26, 2016
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LG’s car business swings to profit
LG Electronics said Tuesday its car parts business division swung to a profit in the fourth quarter for the first time since it started releasing its separate earnings last year. The company said the Vehicle Component division, which produces parts for automotive infotainment systems, posted 520.4 billion won ($432 million) in sales and 9.7 billion won in operating profits in the October-December period.A company logo is displayed at the LG Electronics headquarters in Seoul (Yonhap) LG establis
Jan. 26, 2016
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SKT takes leap forward in 4G emergency services network
Mobile carrier SK Telecom said Tuesday that the company and Finnish network equipment firm Nokia have successfully conducted a test run of a group communication system, which enables hundreds of users to communicate over the network at the same time. Technicians from SK Telecom and Nokia run a test trial of the group communication system. (SKT)Since the current LTE network hits a communications bottleneck when a large group of people try to make calls or send messages at the same time, it fell s
Jan. 26, 2016
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SK hynix Q4 profits plunge on weak demand
South Korean chipmaker SK hynix said Tuesday despite record sales of 18.7 trillion won ($16 billion) last year, its fourth-quarter operating profits plunged by 40.7 percent. The company’s annual sales saw an on-year growth of 10 percent -- the third straight year of record sales -- however, it was hit hard by weakening chip demands globally in the October-December period and operating profits fell to 988.8 billion won. SK hynix’s main factory in Icheon, Gyeonggi Province Sales stood at 4.4 tril
Jan. 26, 2016
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Samsung SDI shareholders agree to spin-off
Samsung SDI shareholders on Monday agreed to spin off the company’s chemicals business into a new affiliate called SDI Chemical, that will be sold to Lotte Chemical within the first half of this year. The battery-making unit of Samsung Group said it will focus more on its flagship business to cater to electric vehicles. Samsung SDI CEO Cho Nam-seong told shareholders the company would invest 3 trillion won ($2.5 billion) into the electric vehicle battery business over the next five years.The sha
Jan. 25, 2016
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Samsung unfazed by Haier-GE deal
Samsung Electronics on Monday said that Haier’s recent purchase of General Electric’s home appliance business would have a limited impact on its businesses in the U.S. and globally. “We see no immediate threat. Our strategy in the U.S. market is different from those of Haier and GE,” said Samsung’s home appliance chief Seo Byung-sam at a new product launch event held at the Seoul headquarters. According to industry sources, the Korean tech giant, as well as its local rival LG Electronics, had tr
Jan. 25, 2016
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KAI succeeds in maiden flight of new Surion medical chopper
Korea Aerospace Industries Ltd., South Korea's aircraft maker, said Monday it has successfully conducted the maiden flight of a new medical transport version of its Surion helicopter.The 20-minute test flight took place at the KAI's headquarters in Sacheon, South Gyeongsang Province, on Friday under the observation of about 40 officials from the defense procurement agency, the Joint Chiefs of Staff, the Army and the Armed Forces Medical Command, according to the KAI. The new chopper will be put
Jan. 25, 2016
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[Photo News] LG portable speakers boast unique design
LG PORTABLE SPEAKERS BOAST UNIQUE DESIGN -- Models pose with tech giant LG Electronics’ tumbler-shaped portable speaker, dubbed the Portable Speaker 360 (left), and a speaker with a wooden body, named the Portable Speaker Classic (right), in Seoul on Monday. (LGE)
Jan. 25, 2016
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Samsung Galaxy S7, LG G5 to be fitted with faster mobile technology
While expectations are high for the Galaxy S7 and G5, the new flagship smartphones of Samsung Electronics and LG Electronics, respectively, an announcement by mobile carrier SK Telecom on Monday offers hints to a new feature on the handsets. SK Telecom employees work at a laboratory of the firm in Seoul. (SKT)Korea’s leading mobile carrier said that it would deploy an advanced uplink carrier aggregation technology, which will increase the upload speed of the long-term evolution network, up to fo
Jan. 25, 2016
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SK Planet steps up efforts to support SMEs
IT solutions developer SK Planet said Monday it has supported around 250 small and medium enterprises to tap into global markets through its e-commerce platform 11st in the second half of last year. The logo of SK Planet, the operator of e-commerce platform 11st. (SK Planet)The SK Group affiliate has been running its e-commerce platform 11st with different names in global markets -- n11 in Turkey, Elevenia in Indonesia, and 11Street in Malaysia.The company ran a Korean zone on the e-commerce web
Jan. 25, 2016
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Samsung SDI shareholders agree to spin-off
Samsung SDI shareholders on Monday agreed to spin off the company’s chemicals business into a new affiliate called SDI Chemical, that will be sold to Lotte Chemical within the first half of this year. Samsung SDI CEO Cho Nam-seongThe battery-making unit of Samsung Group said it will focus more on its flagship business to cater to electric vehicles. Samsung SDI CEO Cho Nam-seong told shareholders the company would invest 3 trillion won ($2.5 billion) into the electric vehicle battery business ov
Jan. 25, 2016
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SK Telecom, Cisco join hands to develop IoT solutions
SK Telecom said Sunday it has teamed up with Cisco Systems International, the U.S. networking giant, to develop new solutions for the Internet of Things technology that connects all machines via the Web. The two companies signed a memorandum of understanding at SKT’s Seoul headquarters on Friday. The new solutions would combine SKT’s ThingPlug, an IoT platform that allows different devices and mobile apps to work together, and Cisco’s infrastructure application technology Fog Computing that off
Jan. 24, 2016
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Pantech to return with new budget phone
Pantech, the nation’s smallest smartphone-maker, which found a new owner while on the verge of bankruptcy last year, is poised to return to the market with a new phone in the summer. The new phone, the first new model since the Vega Pop-up Note phablet in November 2014, aims to target the fast-growing budget-phone market, the company’s CEO Moon Ji-wook said Friday. “This is the right timing to enter the budget phone market. We will be betting on phones that big companies such as Samsung and LG w
Jan. 24, 2016
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[Photo News] Samsung heir poses for selfie
Samsung Electronics vice chairman Lee Jae-yong on Friday poses at a college classroom in Daejeon together with a group of students. The Samsung heir made a surprise visit to Chungnam National University to encourage teachers and students who were participating in the company’s Dream Class programs that tour rural areas every year to offer classes. (Samsung Electronics)
Jan. 24, 2016
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Fake hoverboard batteries plague Samsung, LG
Fake batteries are becoming a headache for Korean battery-makers Samsung SDI and LG Chem, after recent hoverboard fire and explosion cases in the U.S. reportedly involved counterfeit batteries bearing Samsung and LG logos. More than 300 counterfeit hoverboards worth around $94,000 were seized in Miami by the U.S. Customs and Border Protection last week, according to a news report by Sun-Sentinel. A person rides a hoverboard on the street. (Yonhap)The counterfeit hoverboards, which were shipped
Jan. 23, 2016