Most Popular
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Key suspects grilled over alleged abuse of power in Marine death inquiry
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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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Some junior doctors are returning: Health Ministry
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Ador CEO's request for exclusive right to terminate NewJeans' contract with Hybe refused in February
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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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Woman dangling from power lines rescued by residents holding blanket
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Hankook Tire takes over control of Hanon Systems
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Kakao opens flagship store for mobile characters in Gangnam
[THE INVESTOR] Mobile messenger operator Kakao has opened its flagship store for character products based on its mobile stickers, called Kakao Friends, in the posh Gangnam district, Seoul, aiming to expand its clout in the mobile world into the retail realm.Despite the heavy rain in Seoul on Saturday, more than a thousand people formed a snaking line in front of the store on the opening day of the Kakao Friends Flagship Store.Kakao`s flagship store in Gangnam. KakaoAs Kakao ran a series of prom
July 3, 2016
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[Photo News] LG Chem. recruits talents in Tokyo
LG Chem CEO and vice chairman Park Jin-soo meets with participants Friday at its recruiting event held in Tokyo‘s New Otani Hotel, where Park shares the company’s vision with around 40 students invited from Japan’s top 10 universities. (LG Chem)
July 3, 2016
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Korean court rules Park Tae-hwan eligible to compete in Rio
A local court ruled on Friday that swimmer Park Tae-hwan is eligible to compete at the Rio de Janeiro Summer Games, a significant victory for the beleaguered athlete in his legal battle with the national Olympic body. The Seoul Eastern District Court accepted an injunction requested last month by the swimmer to confirm that the Korean Olympic Committee (KOC) has no reason to ban him from racing for South Korea at the Olympics.Park "has no reason for being disqualified based on Article 5 of the
July 1, 2016
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Incheon airport to hire robots for cleaning, concierge
Incheon International Airport will deploy autonomous robots programmed to clean its facilities and to provide information, before the nation hosts the Winter Olympics in 2018.Incheon International Airport Corp. and LG Electronics on Friday signed a memorandum of understanding for the robot project and agreed to test run prototype machines from later this year.An image of a concierge robot for airportsThe project is a part of the airport’s smart service strategy, an official said. Robots will be
July 1, 2016
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Korean chipmakers plan W38tr equipment investment for 3 years: report
[THE INVESTOR] Korean chipmakers, including the top two Samsung Electronics and SK hynix, are expected to pour a combined 37.8 trillion won (US$33 billion) into wafer fabrication equipment or WFE in the next three years. Starting US$10.02 billion this year, the companies will invest more than US$10 billion every year in the coming years, according to a recent research jointly conducted by market research firm Gartner and chip equipment giant Applied Materials. Samsung’s wafer fabrication facilit
July 1, 2016
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Kakao launches KakaoGames for global push
[THE INVESTOR] Internet giant Kakao on July 1 announced the official launch of its renamed game unit KakaoGames following its shareholders’ approval the day before. The company said the branding renewal comes in order to elevate its global awareness and improve operational efficiency overall. The company aims, among other things, to expand its presence in the global market. Unlike its cross-town rival Naver that earns more than 35 percent of sales from overseas markets, Kakao has almost no prese
July 1, 2016
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Korea tops average Internet speed worldwide: report
[THE INVESTOR] Korea has the highest average Internet connection speed in the world, according to a report by Akamai Technologies, a content delivery network provider headquartered in the US. The organization’s quarterly report, “State of the Internet,” showed that in the first quarter of the year Korea has four times faster average Internet speed at 29 Mbps, an 8.6 percent increase over the previous quarter. It was followed by Norway, Sweden, Hong Kong and Switzerland. The world average was 6.3
July 1, 2016
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Samsung’s consumer electronics business to post robust Q2 profit
[THE INVESTOR] Tech giant Samsung Electronics’ consumer electronics business is forecast to see its operating profit for the April-June period surpass 1 trillion won ($870 million). Market analysts also expect Samsung to show a strong business performance in the latter half this year, enjoying the weak Korean won due to Britain’s vote to exit the EU. The CE business will likely see its operating income for the second quarter cross 1 trillion won for the first time since 2009, according to invest
July 1, 2016
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LG’s appliance business expected to see record profits in Q2
[THE INVESTOR] LG Electronics is expected to post more than 10 percent operating profit ratio in its appliance business in the second quarter on upbeat sales of more lucrative high-end products, analyst estimates found on July 1. The home appliance and air solutions division enjoyed record sales and operating profit to sales ratio in the first quarter. Especially the operating profit ratio soared to 8 percent in the April-June period and the figure is expected to exceed 10 percent in the second
July 1, 2016
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Samsung’s components businesses likely to suffer loss in Q2
[THE INVESTOR] Samsung Group’s electronic components businesses, including Samsung Electro-Mechanics, and Samsung SDI, are forecast to show disappointing earnings results for the April-June period, according to market analysts.Samsung Electro-Mechanics will post 21.7 billion won ($18.9 million) in operating income, down 49.4 percent from the previous quarter, with its revenue coming in at 1.6 trillion won, up 2.6 percent from the first quarter, according to a recent investment report released b
July 1, 2016
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Nexon brings new mobile RPG ‘HIT’ to global markets
[THE INVESTOR] Game developer Nexon said on June 30 that its mobile role-playing game “HIT” will be released in global markets on July 7.The mobile game, which will support 10 languages including English, Chinese, German, French, and Thai, is to hit 140 global markets.But two neighboring countries Japan and China were excluded for the launch.“Japan is different from other markets as animation-inspired games featuring cute characters mostly top the mobile game chart, so we are planning to enter t
June 30, 2016
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Yozma hints at US$100m funding for Korean biotech ventures
[THE INVESTOR] Yozma Group chairman Yigal Erlich on June 30 hinted at new funding worth up to US$100 million in Korea’s biotech venture firms. Yozma Group chairman Yigal Erlich The head of the leading venture capitalist based in Israel was visiting Seoul to attend a conference among bioscience experts and industry officials. Touting Korea’s advanced medical techniques, he showed expectations about the growth potential of the nation’s biotech industry. During his visit, Yozma Group also signed a
June 30, 2016
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SKT inks with Telekom, Ericsson for key 5G technology
[THE INVESTOR] Korean network operator SK Telecom has signed a memorandum of understanding with Deutsche Telekom and Ericsson to develop core technologies for the next-generation network, or 5G.Through the partnership, the three will conduct trial tests of key 5G technologies including network functions virtualization, software-defined telecommunications infrastructure, and distributed cloud, all of which will provide optimized end-user experiences, SKT said on Thursday. SK Telecom‘s booth for
June 30, 2016
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Qualcomm IT tour held for Korean engineering students
[THE INVESTOR] Qualcomm Korea held the 14th Qualcomm IT Tour for engineering students in Korea and invited them to its American headquarters as part of it efforts to update them on cutting-edge wireless technologies, the company said on June 30. A total of 25 Korean engineering students had a chance to meet with engineers and management from the firm and learn about the company’s mobile technologies.They also had a presentation in the presence of Derek Aberle, president of the company, and discu
June 30, 2016
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LG, Pantech vie for leadership in mid-tier smartphone market
Hard-pressed by Samsung Electronics and Apple in the high-end smartphone segment, second-tier smartphone makers LG Electronics and Pantech are vying for leadership in the lower-priced smartphone market in South Korea.Pantech, once Korea’s third-largest mobile phone manufacturer after Samsung and LG, unveiled its new mid-tier smartphone Sky IM-100 on Thursday in Seoul, returning to the local smartphone market after a two-year hiatus.LG Electronics' X Cam (LGE)The Sky IM-100, pronounced as “Sky I
June 30, 2016
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Shares of Samsung companies soar on chairman’s death rumors
[THE INVESTOR] Shares of Samsung affiliates soared on June 30 after a rumor about chairman Lee Kun-hee’s death began spreading quickly in the afternoon. But Samsung Group flatly denied the rumor. Samsung C&T, the construction and trading unit and the de facto holding company of the group, saw its shares increase almost 5 percent to close at 123,000 won (US$106) compared to the day before. More than 2.2 million shares were traded, a seven-fold surge from the previous day.Other key affiliates such
June 30, 2016
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Samsung denies rumors of chairman’s death
[THE INVESTOR] Samsung Group on June 30 denied rumors that the company would be officially announcing the death of chairman Lee Kun-hee on this day.“It’s a groundless rumor,” said one high-ranking Samsung Group official on the condition of anonymity.Industry sources said earlier in the day that at 3:00 p.m., Samsung Group would be issuing an announcement of Lee’s death.The chairman has been recovering from a heart attack he suffered in May 2014. Samsung Group chairman Lee Kun-hee (right) and his
June 30, 2016
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SKT to develop 5G technologies with Deutsche Telekom, Ericsson
[THE INVESTOR] Korea leading network operator SK Telecom has signed a memorandum of understanding with Deutsche Telekom and Ericsson to develop core technologies for the next-generation network, or 5G.Through the partnership, the three will conduct trial tests of key 5G technologies including network functions virtualization(NFV), software-defined telecommunications infrastructure(SDTI), and distributed cloud, all of which will provide optimized end-user experiences, SKT said on June 30.The Kore
June 30, 2016
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Samsung Display to replace another LCD plant with OLED operations
[THE INVESTOR] Samsung Display has decided to replace one of its liquid-crystal display plants with organic light-emitting diode panel-making production lines in a move highlighting the firm's resolve to focus on the latter. This is the sixth such LCD plant that Samsung has shut down or replaced with OLED operations. Industry sources said on June 30 that the display-making unit of Samsung Electronics will stop the operation of its LCD production line in Asan, South Chungcheong Province, by the
June 30, 2016
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Google Maps told to censor defense facilities for full services in Korea
[THE INVESTOR] Korea’s Defense Minister Han Min-koo said Google Maps will be allowed to offer full services in the nation only if it censors core security facilities on its digital map.Earlier this month, the US Internet giant requested permission from the Ministry of Land, Infrastructure and Transport to get access to South Korea’s geographical data in a bid to make its flagship online maps’ services, such as the zoomed-in view of the satellite images, fully available in Korea.It was Google’s l
June 30, 2016