Most Popular
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Korea’s homegrown nanosatellite successfully launches into space
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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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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Pianist Cho Seong-Jin named Berlin Philharmonic's artist-in-residence
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Korea to adopt US UHD TV standard
[THE INVESTOR] Korea has decided to opt for ATSC 3.0, a technology standard in the US for ultra-high definition broadcasting, over the European standard DVB-T2, the Ministry of Science, ICT and Future Planning said July 26.Most of the TVs made by Korean TV makers including Samsung Electronics and LG Electronics are based on the European standard, a relatively outdated technology compared to the US counterpart.Samsung Electronics’ 105-inch UHD TV / Samsung ElectronicsAs a result, many of those wh
July 26, 2016
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Payment services start-up attracts W20b funding
[THE INVESTOR] JTNet, an operator of online and offline payment services, has attracted 20 billion won (US$17.5 million) of funding from BNW Investment and Zenitas Investment, the company said on July 26. The Korean company under Yellow Mobile’s online-to-offline business affiliate Yellow O2O, offers value-added network and payment gateway services -- core technologies behind credit card transactions.Founded in 1993, the company joined Yellow Mobile, a start-up giant consisting of dozens of diff
July 26, 2016
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Korea picks U.S.-based UHD TV standard
South Korea picked the U.S.-based Advanced Television Systems Committee 3.0 standard for the country's ultra-high-definition television broadcasting set to launch next year, the science ministry said Tuesday.The Ministry of Science, ICT and Future Planning said it preferred the ATSC 3.0 standard for UHD TV broadcasting that begins next February over the Europe-based DVB-T2 standard.UHD TVs manufactured by local TV makers have so far been based on the DVB-T2 broadcasting system and will require a
July 26, 2016
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Huawei’s S. Korean branch under tax probe
[THE INVESTOR] Chinese cellphone maker Huawei’s South Korean office is being probed by tax authorities, local media reported on July 26. According to reports, the Seoul branch of the National Tax Service recently dispatched officials from the international business division for a tax audit. While Huawei said that it is a regular audit conducted every five years, reports citing unnamed sources say that the NTS is focusing on determining whether tax evasion occurred in dealings between Huawei’s lo
July 26, 2016
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Interpark falls prey to email scam
[THE INVESTOR] The servers of leading Korean e-commerce firm Interpark were hacked, compromising its customers’ personal information including email addresses, and phone numbers, according to news reports July 26.A group of hackers, who accessed the firm’s servers with overseas IPs, stole around 10.3 million pieces of personal data in May. A notice posted on the Interpark internet homepageThe hackers reportedly sent emails with malicious codes to Interpark employees and got access to the sensiti
July 26, 2016
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LG to spend more for R&D on appliance parts
[THE INVESTOR] LG Electronics said it would spend 30-50 percent more on-year for research and development into key components of washing machines and air conditioners to maintain its competitiveness in the home appliance market. “The motor and compressor plays a vital role in our home appliance business, so we will invest accordingly,” said Park Jung-hyun, vice president of LG’s compressor and motor business unit at a press meeting in South Gyeongsang Province last week. LG Electronics employee
July 25, 2016
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OLED shipments for smartphones to double by 2017: research firm
[THE INVESOTR] Shipments of organic light-emitting diode displays for smartphones are expected to almost double from last year’s 250 million units to 450 million units in 2017, market research firm IHS predicted. Currently, about 97 percent of the market is dominated by Samsung Display, the display-making unit of Samsung Electronics. Samsung Galaxy S7IHS said this year’s shipments could surge 42.7 percent to 366.9 million panels compared to a year ago. Samsung has extended the OLED adoption for
July 25, 2016
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LG Chem to expand elastomer output
The nation’s leading chemical and battery firm LG Chem is set to triple its elastomer output to meet the growing demand in the global market, the company said on Monday. LG Chem said it would invest 400 billion won ($351 million) to build additional factories, which will be capable of producing 200,000 metric tons of elastomers on an annual basis. Elastomer is high-valued synthetic resins, which is used for materials for cars, shoes, functional films and electric wire. When the plants are comple
July 25, 2016
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Angry gamer crashes car into Nexon head office
[THE INVESTOR] A man in his 30s drove his car into the Korean head office of online game company Nexon in Pangyo, Gyeonggi Province, on July 24.A part of the glass wall on the first floor was smashed into pieces, but no injuries were reported. The man, whose nationality is reportedly Chinese, drove while intoxicated. He said in a police interrogation that he was infuriated at Nexon’s online games to which he was so addicted that he could not live an ordinary life.“The person who vandalized the o
July 25, 2016
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LG to spend more for R&D on appliance parts
[THE INVESTOR] LG Electronics said it would spend 30-50 percent more on-year for research and development into key components of washing machines and air conditioners to maintain its competitiveness in the home appliance market. “The motor and compressor plays a vital role in our home appliance business, so we will invest accordingly,” said Park Jung-hyun, vice president of LG’s compressor and motor business unit at a press meeting in South Gyeongsang Province last week. LG Electronics employees
July 25, 2016
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OLED shipments for smartphones to double by 2017: IHS
[THE INVESOTR] Shipments of organic light-emitting diode displays for smartphones are expected to almost double from last year’s 250 million units to 450 million units in 2017, market research firm IHS predicted. Currently, about 97 percent of the market is dominated by Samsung Display, the display-making unit of Samsung Electronics. IHS said this year’s shipments could surge 42.7 percent to 366.9 million panels compared to a year ago. Samsung Galaxy S7. The Korean tech giant is increasingly ado
July 25, 2016
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Samsung, LG keep close eye on Vietnam’s minimum wage hike
[THE INVESTOR] Vietnam’s minimum wage hike is expected to take a heavy toll on big Korean firms such as Samsung and LG that have been beefing up production there due to low labor costs. Currently, the minimum wage for Vietnamese workers ranges between US$108-157 across regions. In the latest wage talks, labor groups asked for an 11 percent increase from next year, while employers resisted, proposing a moderate 4.62 percent raise. LG Electronics Vietnam Haiphong campus“There are over 4,000 Korean
July 25, 2016
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Korean retailers ride on ‘Pokemon Go’ craze
South Korean retailers are capitalizing on the explosive popularity of Nintendo’s augmented-reality mobile game “Pokemon Go” with new products and services targeting local Pokemon game enthusiasts and fans. From a sudden rise in consumer spending at select Pokemon-appearing cities in Korea to the launch of Pokemon-inspired hotels, tour packages and goods, the smash-hit game appears to be leaving a notable imprint on the local retail sector.Pikachu is surrounded by children during a Pokemon festi
July 24, 2016
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[Photo News] After Sokcho, Pokemon Go now operational in Ulsan
CATCHING POKEMON IN ULSAN — Citizens play Nintendo’s augmented-reality mobile game “Pokemon Go” in Ganjeolgot, a coastal park in the southeastern city of Ulsan in South Korea on Friday. "Pokemon Go" became partially operational in the area from Friday, as the game officially began service in nearby Japan the same day. The game has yet to officially launch in Korea, though it works in certain cities such as Sokcho and Ulsan as the game’s GPS signal is active there. (Yonhap)CATCHING POKEMON IN UL
July 23, 2016
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[Photo News] Global International Partner Meeting
Kim Young-pill (third from right), a president of Green Cross Medical Science, a subsidiary of Korean biopharmaceutical company Green Cross, poses with foreign clients, who attended the conference held at its headquarters located in Yongin City on Thursday. (Green Cross Medical Science)
July 22, 2016
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[Photo News] Faster wifi connection
KT Corp., Korea‘s second-largest mobile carrier, is launching GiGA WiFi 2.0 which enables mobile users to use wireless Internet services with speeds of up to 1.73 Gbps, the firm said Friday. (KT Corp.)
July 22, 2016
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Samsung Electro-Mechanics to invest W263b in chip technology
[THE INVESTOR] Electronic components firm Samsung Electro-Mechanics said on July 22 that it would invest 263.2 billion won (US$231.90 million) in beefing up its capability in chip packaging, an encapsulation process aimed at preventing erosion and damage.The investment amount accounts for 6.1 percent of the firm’s equity. Through the investment, Samsung Electro-Mechanics will develop the next-generation chip packaging facilities, which will be deployed at Samsung Display’s manufacturing complex
July 22, 2016
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Galaxy Note 7 focused on cost cutting: analysts
The latest version of Samsung Electronics Co.'s Galaxy Note smartphone appears to focus on saving costs, rather than delivering cutting-edge functions, industry sources said Friday. The Galaxy Note 7 smartphone, which is expected to be released on Aug. 2 in New York, is likely to show similar features with the Galaxy Note 5 in terms of its design and functions, according to the industry sources.Although the camera and battery life of the Galaxy Note 7 are likely to be better than its predecessor
July 22, 2016
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Samsung urged to beef up OLED production on soaring China demand
[THE INVESTOR] It seems unavoidable for Samsung Display, the display-making unit of Samsung Electronics, to further beef up production of its organic light-emitting diode panels on soaring demand from China’s smartphone manufacturers. UBI Research, a local market research firm specialized on OLED, predicted that the Chinese demand for mobile OLED could surge to some 200 million units next year. Samsung Galaxy S7 with OLED display. Apple iPhone’s planned adoption of OLED screen possibly from next
July 22, 2016
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Legal battle escalates between Samsung, Huawei
[THE INVESTOR] Samsung Electronics has recently filed a suit against Huawei and its key retailer for patent infringements, escalating the legal battle between the two rival smartphone-makers. According to industry sources on July 22, the Korean tech giant sued Huawei for infringing its six patents, including those on mobile communication systems information control, and the retailer for selling the products. They involve Huawei’s key models such as Mate 8 and Honor series phones. Samsung asked e
July 22, 2016