Alert credit card companies in Korea. Biometric technology using facial, iris, voice, fingerprint and finger vein recognition could halve the current money transfer costs through credit card and mobile transactions totaling at 2.7 trillion won ($2.2 billion) annually, Boston Consulting Group said Friday in a report. “The 2.7 trillion won is an approximation of the sum of 290 million hours and 11...

KT, South Korea’s largest telecommunications firm by sales, will pay a total of $6.3 million to the US Securities and Exchange Commission to resolve charges for violating the Foreign Corrupt Practices Act, an SEC announcement showed Friday. The SEC ordered the Seoul-based firm to pay $3.5 million in civil payments and $2.8 million in disgorgement and prejudgment interest within a month, more tha...

Tech giant bolsters responsiveness to policy changes in the US, especially on supply chain issues

The side-by-side refrigerator was part of the Bespoke Infinite lineup, unveiled Thursday during a virtual press conference. The Bespoke Infinite lineup also boasts a large-capacity four-door French door refrigerator, a smart kitchen hood, a dual-cook oven, a 7.4-kilowatt four-element induction cooktop and a 12-person capacity dishwasher, all of which are built-in appliances. These are also part...

South Korean IT solutions provider Samsung SDS said Thursday it has signed a new partnership with cloud giant Amazon Web Services to bolster bilateral ties and strengthen their corporate cloud business. Under the renewed partnership, Samsung SDS is also joining AWS’ “exclusive” global business network, along with other global partners like Verizon and NEC. The two firms have already carried out...

Science and ICT Minister Lim Hye-sook on Thursday met with the heads of three major South Korean telecom operators to discuss a dispute over additional 5G network frequency bands and urged cooperation in providing better network service to consumers. In December, the ministry agreed to open bidding for additional 5G networks in the 3.4- to 3.42-gigahertz spectrum, as requested by LG Uplus, the s...

The South Korean semiconductor chip industry is poised to invest 56.7 trillion won ($47.4 billion) in 2022 to create jobs and strengthen a supply chain amid talent shortages and external uncertainties, according to a lobby group Wednesday. The figure for some 150 companies across the Korean chip supply chain is 10 percent higher than the domestic industry’s total spending in 2021 at 51.6 trillio...

As for outside board member nominees, incumbent Kim Han-jo is to extend his term, while Bahk Jae-wan and Curie Ahn will be replaced by Hallym University visiting professor and climate change expert Han Wha-jin and former GIC managing director Kim Jun-sung. The board reshuffle plan will require approval in a shareholder meeting scheduled on March 16. Remote votings will be accepted for the regula...

LG Corp, a holding company of Korea’s fourth-largest conglomerate by assets, said Tilda became the first to come up with visual creations based on text processing powered by AI engine in a real-life use case. According to LG, Tilda will launch its own eco-friendly fashion brand after the New York Fashion Week Fall 2022, and continue to play a role of connecting people in the metaverse world. Ti...

South Korea’s tech giants Samsung Electronics and LG Electronics were among the five largest patent cooperation treaty (PCT) filers worldwide, the Korean Intellectual Property Office said Monday. A PCT is a global filing service that protects inventions, allowing applicants to seek international protection for an intellectual property simultaneously in over 150 countries with a single filing. Un...

Engineers at South Korea’s semiconductor chipmakers are increasingly being offered the chance to put off retirement to a later date. This comes as the memory chip powerhouse, home to Samsung Electronics and SK hynix, experiences a talent shortage in the industry. The move will likely be welcome news to the government, which is struggling to find ways to deal with the economic impact of the coun...

South Korea's ICT ministry said Sunday it plans to spend 129.8 billion won ($108.2 million) on ramping up data projects this year, including distributing "data vouchers" to support small and medium-sized businesses. The latest investment comes as part of efforts to utilize data collected from the so-called Data Dam project, an initiative that kicked off in 2020 to gather data generated through p...

Samsung Electronics said Friday its subsidiary Harman, the US automotive solutions maker, has acquired German auto tech startup Apostera to bolster its leadership in the burgeoning connected car technology market. With the latest deal, Harman aims to further diversity its automotive product offerings using Apostera’s specialty in augmented reality and mixed reality software solutions. Establish...

The release of Samsung Electronics‘ Galaxy S22 Ultra showed that its Note era might have just ended, with the S series phones inheriting features that had defined the Note series. Since August 2020, the world’s largest smartphone manufacturer has yet to announce a new Note lineup, with Note 20 and Note 20 Ultra being the last to be released in the decade-long history of the Note series. The vir...

Fastest chips, crisp night photos, tougher frames: Samsung Galaxy S22 out with no price hike