Most Popular
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Marine Corps commander summoned by CIO for questioning on alleged influence-peddling case
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Army takes group action against Hybe for neglecting BTS
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Debate rages over ‘overly fatty’ samgyeopsal
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[Weekender] Korean psyche untangled: Musok
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Naver will consider company benefits in deciding on selling Line shares: CEO
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Hankook Tire takes over control of Hanon Systems
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[Eye Interview] 'If you live to 100, you might as well be happy,' says 88-year-old bestselling essayist
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S. Korea, Japan, China agree to create new financing facility against regional crises
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From fake prostitution ring to nonexistent robber, prank calls hamper police
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Top prosecutor orders speedy investigation into first lady's alleged acceptance of luxury handbag
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KCC to investigate KakaoTalk over its in-app notifications
The Korea Communications Commission, the state media regulator, on Thursday said it plans to investigate Kakao Corp., operator of South Korea’s top mobile messenger KakaoTalk, over the legality of its in-app notifications. The move came after a local civic group accused Kakao of unilaterally sending out messages notifying users of purchases, orders and deliveries made through the app -- which costs nominal data usage fees -- without obtaining the consumer’s consent.The civic body had asserted th
July 29, 2016
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Nexon founder steps down from board amid corruption scandal
Nexon founder Kim Jung-ju on Friday officially stepped down from the company's board, following his indictment earlier in the day on suspicious stock transactions and bribery.Kim is charged with providing some 920 million won ($821,000) in bribes to Jin Kyung-joon, a South Korean senior prosecutor and college friend of Kim. Jin was arrested and indicted on Friday, and subsequently dismissed from his post.“I express my deepest apology to everyone,” Kim said in a statement. “I committed a grave wr
July 29, 2016
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KT posts highest Q2 operating profit in 4 years
South Korean telecommunications firm KT said Friday that it posted an operating profit of 427 billion won ($379.6 million) in the second quarter, marking its highest quarterly performance in four years. The company disclosed that its operating profit rose 15.8 percent on-year during the April-June period, thanks to its strong performance in its wireless network, landline telecom and media businesses.KT’s second-quarter performance overtook that of SK Telecom, the country’s leading telecom compan
July 29, 2016
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[Weekender] Pokemon no longer child’s play
The augmented reality smartphone game “Pokemon Go” is fueling the already hyped-up market for “kidults,” a newly coined term that combines “kid” and “adult.” The Pokemon craze worldwide is likely to ignite new momentum for more nostalgia seekers in their 30s and 40s.They grew up watching the popular “Pokemon” animated series in the 1990s. Given that they now have the purchasing power, they are more than willing to buy products that can help them relive their childhood. The market value for kidu
July 29, 2016
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[Weekender] Augmented reality shines only with right storytelling
Following the “Pokemon Go” craze, the Korean government and companies are looking to pour money into advancing the local augmented reality sector. This is not the first time for Korea to push for AR.In 2012, talent agency S.M. Entertainment produced a program that allowed fans to dance with holograms of K-pop idol group EXO-K. Telecommunications giant KT also launched a mobile game called “Catch Catch,” which was a nearly identical precursor to “Pokemon Go.” Circus Company CEO Park Sun-uk demons
July 29, 2016
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Nexon GT to withdraw ‘Sudden Attack 2’ by Sept. 29
[THE INVESTOR] Nexon GT said on July 29 that it has decided to withdraw its “Sudden Attack 2” game by Sept. 29. The decision came just 23 days after the game was introduced, and comes amid controversy over its alleged exploitation of the female sexuality. Nexon GT deleted some of the characters, but was unable to quench the criticism, which further mounted on a scandal involving Nexon founder Kim Jung-ju and his friend and prosecutor Jin Kyung-joon who was arrested and indicted today. Nexon GT h
July 29, 2016
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Top Korean firms invest W21b in AI research institute
[THE INVESTOR] Seven South Korean conglomerates joined hands to launch on July 29 a research institute focused on artificial intelligence technologies. Samsung Electronics, Hyundai Motor, SK Telecom, KT, LG Electronics, Naver and Hanwha Life Insurance have contributed 3 billion won (US$2.67 million) each to launch the AI Research Institute. 123rf“We will bring in the best human resources and develop core technology for the information intelligence society,” said Kim Jin-hyung, head of the instit
July 29, 2016
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Samsung files trademark for Gear S3 Frontier
[THE INVESTOR] While Samsung Electronics is busy with the upcoming launch of the Galaxy Note 7 smartphone, it is also preparing to showcase other big products, including the Gear S3, before the end of this year.The South Korean tech giant filed the trademark for Gear S3 Frontier at the nation’s patent office on July 26, implying that there could be more than one smartwatch model the firm has up its sleeves.The new project for Samsung smartwatch is reportedly named Solis, meaning the sun in Spani
July 29, 2016
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[Weekender] Pokemon -- strong story meets technological potential
The emerging technology augmented reality is showing immense potential in the digital world especially after the success of “Pokemon Go,” a location-based AR mobile game.AR, in fact, is nothing new. But the game has brought the technology another step closer to reality, pushing companies and governments to commercialize AR by integrating it with unique content.In movies and science fiction, AR -- the incremental technology from virtual reality that can be further developed into holograms -- has
July 29, 2016
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'V20 not enough for LG Electronics' turnaround'
[THE INVESTOR] LG Electronics' clout in the global smartphone market is steadily declining on the back of cut-throat competition in the sector.And the Korean firm’s bet on its next high-end smartphone, the V20, which succeeds the V10, is not expected to bring about a dramatic turnaround, according to industry watchers. LG V10 phablet. Its successor, tentatively called V20, is expected to come out in September. LG Electronics"LG’s upcoming new high-end smartphone will not be able to offset the s
July 29, 2016
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Samsung drops from list of top 5 smartphone-makers in China
[THE INVESTOR] Samsung Electronics has failed to make it to the list of top five smartphone-makers in China, despite having the largest global market share, falling behind local rivals and Apple. According to Strategic Analytics, a market research firm, Chinese handset makers, including Huawei, Oppo, Vivo and Xiaomi, were the top sellers in the April-June period. Samsung Galaxy S7.Huawei, China’s largest handset maker, topped the list with 19.1 million unit sales or 17.5 percent market share, fo
July 29, 2016
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Brokerages lift forecasts for Samsung Electronics' Q3 earning
Some brokerages in South Korea on Friday lifted their forecasts for Samsung Electronics Co.'s third-quarter earnings, a day after Samsung posted its biggest quarterly operating profit in more than two years. Samsung, the world's largest maker of smartphones and semiconductors, reported an operating profit of 8.14 trillion won ($7.23 billion) for the April-June quarter, buoyed by strong sales of its flagship Galaxy S7 smartphone. Samsung expected its smartphone margins to be under pressure in the
July 29, 2016
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FTC fines Baedal Minjok for manipulating online reviews
[THE INVESTOR] Korea’s antitrust watchdog has fined the hot-selling food delivery app Baedal Minjok and five other similar firms for slyly manipulating online user reviews.The Fair Trade Commission announced on July 28 that it imposed a combined fine of 17.5 million won (US$16,000) on the six food delivery app companies for hiding negative online reviews and ordering their employees to post positive ones.Baedal Minjok is the No. 1 food delivery app in Korea.The companies were also found to have
July 29, 2016
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Samsung to invest W17tr in smartphone chips, OLED
[THE INVESTOR] Samsung Electronics is expected to pour a whopping 17 trillion won (US$15 billion) into 3-D NAND flash memory chips and organic light-emitting diode panels, both key parts for smartphones, this year in a bid to widen the gap with its smaller rivals. The Korean tech giant had hinted it would invest about 26 trillion won this year, slightly up from last year’s 25.52 trillion won. In the first half of the year, it spent 8.8 trillion won. “We will focus on 3-D NAND and OLED this year
July 29, 2016
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KT posts record-high Q2 operating profit in 4 years
[THE INVESTOR] Telecommunications firm KT posted second quarter operating profit of 427 billion won (US$379.6 million) -- its highest quarterly operating income in four years -- thanks to solid performances in its wireless network, landline telecom, and media businesses.The quarterly profit reflected a 15.8 percent increase on-year, KT said on July 29. Sales were up 4.5 percent to 5.68 trillion won. KT headquartersThe number of subscribers for KT's Long Term Evolution network service in the seco
July 29, 2016
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‘Google Play Arcade’ to offer interactive mobile gaming in Korea
Google Korea will open a free indoor entertainment space dubbed “Google Play Arcade” at Dongdaemun Design Plaza in Seoul on Friday, with aims to introduce and bring mobile games closer to the wider public.From taking the stage to become the South Korean champion of “Clash Royal” to physically climbing up the virtual steps on “Infinite Stairs,” visitors to the arcade can experience a wide range of mobile games in new and interactive ways.A view inside the “Google Play Arcade” which opens Friday a
July 28, 2016
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Kakao expands transport services
South Korea’s most popular messenger Kakao’s transport services are picking up speed, spanning the gamut from taxi-hailing to navigation. “We are expanding transport services with the aim of relieving customers’ daily inconveniences through mobile services,” the company’s spokesperson said. (Kakao)Kakao Taxi, which was launched in March last year, is a popular service, with 150 million calls in total made through it so far. The taxi-hailing service has also raised drivers’ incomes by effectivel
July 28, 2016
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LG Electronics posts big jump in Q2 operating profit
LG Electronics Inc. said Thursday its second-quarter operating profit surged 139.5 percent from the same period last year. LG Electronics earned 584.6 billion won ($519.6 million) in the April-June period, compared with a profit of 244 billion won for the same quarter last year. Second-quarter sales grew 0.5 percent on year to 14 trillion won, LG Electronics said in a regulatory filing. (Yonhap)
July 28, 2016
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Samsung Electronics reaps W8tr profit in Q2
Samsung Electronics posted its best quarterly results in more than two years and it expects continued solid performance in the latter half of this year. The tech giant said Thursday it posted 8.1 trillion won ($7.2 billion) in operating profit in the second quarter, an 18 percent jump on-year. Revenue for the quarter rose 4.9 percent to 50 trillion won.The growth was mainly driven by its mobile business, which posted 4.3 trillion won in operating income. Its flagship smartphone Galaxy S7 series
July 28, 2016
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Samsung SDI suffers operating loss in Q2
[THE INVESTOR] Samsung SDI, the battery arm of Samsung Group, posted operating loss of 54.2 billion won (US$48.13 million) in the second quarter, the company said in its quarterly earnings report on July 28. The company, however, narrowed its losses from 58.81 billion won a year earlier and 703.75 billion won from the previous quarter. Sales stood at 1.31 trillion won, up 11.95 percent on-year. In the April-June period, the net profit came to 955.8 billion won, reversing a loss of 310.3 billion
July 28, 2016