Most Popular
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Marine Corps commander summoned by CIO for questioning on alleged influence-peddling case
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Debate rages over ‘overly fatty’ samgyeopsal
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[Weekender] Korean psyche untangled: Musok
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40 flights canceled on Jeju Island due to bad weather
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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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N. Korea slams US, other countries for seeking alternative to UN sanctions monitoring panel
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Pandemic left Korea more depressed than before: report
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From fake prostitution ring to nonexistent robber, prank calls hamper police
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Missing S. Korean traveler in Paris found safe after 2 weeks
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Defense chiefs of US, Australia, Japan decry NK-Russia military cooperation
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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
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Gov't tightens regulations on embryonic stem cell registration
The government will require all registrations of embryonic stem cells to have consent forms from donors and a sample of their biological material on file to block unethical conduct in the research process, the Ministry of Health and Welfare said Friday.The new regulation, effective from the day, obligates registrants to provide formal consent forms from donors stating that they agree to give their eggs and somatic cells and that they can be used for research purposes. Registrants must also subm
July 22, 2016
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Samsung acquires 2% stake in BYD
[THE INVESTOR] China’s largest electric car maker BYD on July 21 announced that Shanghai Samsung Semiconductor, a unit of Samsung Electronics, has acquired its 52.3 million shares for 3 billion yuan (US$450 million). With the acquisition, Samsung has become BYD’s ninth-largest shareholder with a 1.92 percent stake. BYD, which started as a rechargeable battery maker, is currently the largest EV maker not just in China but also globally. BYD’s 2016 full-electric and hybrid vehicle lineup“The lates
July 22, 2016
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Incheon's international district attracts drone development
An international town near the country's western coast is turning into a mecca for drone fans and companies as its governing city begins a project next year to build an aeronautics industry complex, officials said Friday.More than 10 firms that develop components for drones have set up offices at the Songdo International Business District in Incheon, 40 kilometers west of Seoul, over the past two years, according to the city officials.Internet communities and bloggers are calling the district on
July 22, 2016
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LG to supply telematics systems to Toyota
[THE INVESTOR] LG Electronics will supply telematics systems that support wireless Internet in cars to Japan’s Toyota Motor, according to news reports on July 22. The company’s vehicle component business division has recently signed a deal with the Japanese auto giant to produce telematics systems to be equipped in Toyota vehicles sold in Japan and North America. LG ElectronicsLG is No. 1 player in the global telematics market with some 30 percent market share. The company will supply 11 key par
July 22, 2016
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Mobile carriers accused of profiteering with overpriced USIM chips
[THE INVESTOR] A consumer group claimed on July 21 that South Korea’s three largest mobile carriers --SK Telecom, KT and LG Uplus -- have made excessive profits by overpricing USIM chips for smartphones.“Utilizing their monopolistic position in the mobile market, the three firms are alleged to have earned 117.3 billion won (US$103.20 million) of unjust profits over the past two years and three months,” said Green Consumer Network in Korea. The head office of SK Telecom in Seoul The figure is bas
July 22, 2016
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Antitrust watchdog raids Google Korea office
[THE INVESTOR] The Fair Trade Commission, the nation’s antitrust regulator, raided Internet giant Google’s Korean head office in Gangnam on July 21 as part of its investigation into allegations that the global Internet giant twisted the arms of local smartphone-makers -- Samsung and LG -- to preinstall its apps on their handsets. Google is also accused of pressuring local mobile game developers to utilize AdMob, a game ad platform run by Google. The firm, whose Android operating system has an ov
July 22, 2016
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470 start-ups registered over W100b revenue in 2015
[THE INVESTOR] The number of South Korean start-ups with annual revenue of 100 billion won (US$87.9 million) or more surpassed 470 last year, data showed on July 21. A total of 474 startups saw their annual revenues exceed 100 billion won last year, up 14 from the previous year, according to the data jointly released by the Small and Medium Business Administration and the Korea Venture Business Association. Korea`s main financial district in Yeouido, Seoul (Korea Herald file photo)Whisky brand
July 21, 2016
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[Photo News] A cool half-million
Models celebrate surpassing 500,000 sales of Samsung Electronics’ premium refrigerators at an event in Seoul on Thursday. (Yonhap)
July 21, 2016