Most Popular
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Korea’s homegrown nanosatellite successfully launches into space
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[Herald Interview] 'Amid aging population, Korea to invite more young professionals from overseas'
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Nicaragua shuts down Seoul embassy
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Hybe's multilabel system tested amid conflict with Ador
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Rocket engine expert, ex-NASA exec to lead Korea's new space agency
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SNU profs to suspend treatment for one day
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SK hynix pledges W20tr to ramp up DRAM production at home
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Over-50s, men, single-person households take up majority of those filing for bankruptcy
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Ministry denies blame for Jamboree debacle
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Pianist Cho Seong-Jin named Berlin Philharmonic's artist-in-residence
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[Newsmaker] Kakao, KT pin hopes on Internet-only banks
Expectations are reaching new heights for Korea’s first online-only banks, or direct banks, to spark enormous changes not only in the country’s 120-year-old financial sector but also in other industries including information technology and retail.The financial authorities have given preliminary approval to two consortiums ― Kakao Bank and K-Bank, led by mobile messenger creator Kakao and mobile carrier KT, respectively ― to set up the banks with no brick-and-mortar branches. They will be the fir
Nov. 30, 2015
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Samsung plans fewer executive promotions
Samsung Group is expected to carry out a modest promotion of executives this week, reflecting a sense of crisis prevalent across its affiliates, industry sources said Monday. Samsung Electronics vice chairman and the group’s heir apparent Lee Jae-yong is also unlikely to take office as chairman to focus more on improving the profitability of the flagship electronics unit and other key companies. “Many executives do not expect to receive promotions this year. They just want to stay,” said a Samsu
Nov. 30, 2015
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Kakao, KT to launch Korea’s first Internet banks
Two consortiums, led by South Korean Internet giant Kakao and No. 2 telecom operator KT, were approved to launch the nation’s first Internet-only banks next year, the banking authority said Sunday. Under the government’s pilot program, the two banks will offer financial services from deposits, lending and credit cards to foreign exchange transactions through their online platforms only -- the first of their kind in Korea’s 23 years of financial history.Their operations are expected to start afte
Nov. 29, 2015
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LGD to spend W10tr on new plant
LG Display said Friday it would invest a whopping 10 trillion won ($8.7 billion) in building a new plant for organic light-emitting diode displays in Paju, Gyeongi Province. The firm’s recent investment plan is part of its initiative, which was announced in August, to invest 10 trillion won in projects to foster businesses for OLEDs along with liquid crystal displays over the next three years. The nation’s leading display manufacturer will first pour 1.84 trillion won into the construction of a
Nov. 27, 2015
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Cisco exec urges Korean firms to move toward digitization
As digital disruption is accelerating across all industries, top market leaders will be outgunned by challengers quick to adapt to a digitization wave, according to a Cisco executive.Presenting a recent report about technological disruption and future business models at Cisco’s office in Songdo, west of Seoul, Thursday, Ross Fowler, president of the U.S. firm’s Digital Transformation and IoE (“Internet of Everything”) Acceleration in Asia-Pacific and Japan, said that "four out of top 10 companie
Nov. 26, 2015
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Smilegate inks $500m publishing deal in China for ‘Crossfire 2’
Korean game developer Smilegate Entertainment said Thursday it has signed a $500 million exclusive publishing agreement with Oriental Shiny Star for the upcoming “Crossfire 2” online shooting game in China. Qihoo 360 Technology also announced the deal Monday in a NASDAQ filing. Oriental Shiny Star is an affiliate of System Link Corporation, a joint venture between Qihoo 360 Technology, a leading Chinese gaming platform operator, and System Link Corporation, a game developer also based in China.
Nov. 26, 2015
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Koo Bon-joon takes center stage at LG
LG Electronics CEO and vice chairman Koo Bon-joon has joined LG Corp., the group’s holding company, stepping closer to the center stage of the nation’s fourth-largest conglomerate. As part of the group’s annual executive reshuffle on Thursday, Koo was assigned with a crucial mission for LG’s survival in the future -- beefing up next growth engine businesses such as display, battery, energy solutions and automotive parts. While the flagship LG Electronics is suffering from slowing device sales am
Nov. 26, 2015
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[Photo News] Samsung starts mass production of industry's first 128-GB DRAM
CHIPPING AWAY -- Samsung Electronics said Thursday it had started mass production of the world’s first 128-gigabyte DDR4 module for enterprise servers and data centers. The new DDR4 boasts the industry’s largest capacity and highest energy efficiency of any DRAM module. (Samsung Electronics)
Nov. 26, 2015
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Tapas brings webtoon model to Silicon Valley
PALO ALTO, California -- Ever since first-generation artist Kang Full’s “Love Story” became a sensation on Korean portal Daum in the early 2000s, the local webtoon industry has grown into a $290 million industry with more iconic series like “Misaeng” and “Secretly, Greatly.”But it is one of Korea’s best-kept secrets, as local webtoons -- visual stories that read from top to bottom instead of left to right for easy screen scrolling -- have struggled to spread globally for the past decade. Tapas M
Nov. 26, 2015
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Naver considers lawsuit against HP over copied logo
South Korea’s largest search engine Naver is considering a lawsuit against global computing giant Hewlett-Packard, claiming that the company’s new IT unit copied its signature green search bar logo. In April, Hewlett-Packard spun off its corporate hardware and services arm and named it Hewlett Packard Enterprise. The company also unveiled a new green rectangular logo, a distinct identity from the blue circular HP logo.“The rectangular logo represents values such as openness, simplicity and clie
Nov. 25, 2015
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SK hynix to support cancer-stricken workers
An inspection committee for workplace safety and health at chipmaker SK hynix said Wednesday it could not find a direct link between diseases suffered by its employees and the working environment at its facilities. Announcing a yearlong inspection of the working conditions at the chip manufacturer’s factories and its correlation to illnesses, including cancer and leukemia, the committee noted that “some research showed meaningful results from a statistical perspective, but more time and data is
Nov. 25, 2015
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Mobile payment race intensifies
From smartphone-makers to retail firms, more companies are jumping on the mobile payment bandwagon in a bid to take the initiative for hassle-free digital payments.As there is no single dominant player or set of standards yet, the mushrooming mobile payment market is flooded with more than 20 related applications in Korea and may look like a hodgepodge of technologies for some.Many industry officials, however, had a positive outlook on the fledgling market, anticipating that the mobile payment s
Nov. 25, 2015
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LG Chem to build world’s largest wind energy storage
South Korean battery-maker LG Chem said Tuesday that it has teamed up with GS E&R, a local power generator, to build the world’s largest wind power storage system in Yeongyang, North Gyeongsang Province.The ESS will have a storage capacity of 50 megawatt hours, which can power some 5,000 households per day. The batteries are the equivalent of those used for 2,700 units of GM’s Volt plug-in hybrid. GS E&R has recently completed the turbine construction and carried out the pilot operation since Se
Nov. 24, 2015
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Samsung to offer SMEs patents for free
Samsung Electronics said Tuesday it would offer local small and medium-sized enterprises some 27,000 patents free of any fees. The patents had actually been shared since June through the company’s creative economy centers, but only 3,000 of them had been offered for free.With aims to relieve the burdens of smaller firms, the company said it has decided to offer them up. The patents are mostly on mobile devices, audio and video technologies, network and communication, home appliances and semicond
Nov. 24, 2015
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KT lays out blueprint for safety network
South Korea’s leading telecommunications company KT unveiled a set of plans to build a Long-Term Evolution network for emergency services and provide emergency telecom services in PyeongChang, the host city of the 2018 Winter Olympics in Gangwon Province, Tuesday. The public safety LTE, an emergency communications technology, allows fire, police and rescue responders to better communicate with each other using standard devices operating on the same frequencies, according to the firm. Oh Sung-mok
Nov. 24, 2015
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KT releases DNA-screening test for newborn babies
Mobile carrier KT has teamed up with Lab Genomics, a local gene analysis laboratory, to launch a new DNA-screening test, named NobleGuard, for newborn babies. About 6 percent of newborn babies are born with genetic disorders every year. Even though many of the diseases are treatable when detected early, there is a shortage of screening tests, KT said. NobleGuard, launched on Monday, combines KT’s big data analysis technology and Lab Genomics’ next-generation DNA sequencing technology. Using its
Nov. 24, 2015
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[Photo News] LG boosts morale among soldiers
LG BOOSTS MORALE AMONG SOLDIERS -- Executives and employees of LG Group affiliates -- LG Chem, LG Innotek and Serveone -- pay a visit to six frontline troops near the Demilitarized Zone, a buffer zone across the Korean Peninsula, to give care packages to soldiers. In the photo Park jin-soo (fourth from left, second row), the chief executive of LG Chem, poses with divisional commander Lee Jong-hwa (fifth from left, second row), military officials and soldiers at the First Infantry Division, in Gy
Nov. 23, 2015
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Samsung Gear VR sees strong start in U.S.
Samsung Electronics’ new Gear VR virtual reality goggles are getting an upbeat response in the U.S. as the device has already sold out at some online retailers such as Amazon and Best Buy in just 10 days of its launch. The $99 Gear VR is a stripped-down version of the Gear VR Innovator Edition, the Korean tech giant’s first generation VR headset that is priced at $199. The device weighs only 310 grams, about 22 percent lighter than its predecessor. A model tries the Gear VR at a launching event.
Nov. 23, 2015
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Korea rolls out cross-carrier VoLTE services
Korea’s three leading wireless carriers -- SK Telecom, KT and LG Uplus -- will start voice over long-term evolution services for subscribers from different operators Monday, according to the companies Sunday. “VoLTE” is a data-based communications technology utilizing the LTE networks to provide improved voice and video calls -- up to 12 times better compared to those utilizing 2G or 3G networks. The three mobile carriers ran pilot programs for the advanced telecom technology from late June to
Nov. 22, 2015
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Daegu creative center leads disruptive innovation
DAEGU -- A mainspring of the blazing economic growth of South Korea in just half a century after the 1950-53 Korean War was the export-oriented policy, which fostered the creation of competitive conglomerates in a variety of industrial sectors.The export-driven initiative propelled the nation, which had been regarded as a have-not country, to the upper echelon of the world’s economies.Today’s rapidly changing industry landscape coupled with fast technology development, however, requires global g
Nov. 22, 2015