China recently blocked Indian websites and e-commerce platforms in retaliation for India’s move to ban 59 Chinese apps and prevent Chinese companies from participating in infrastructure projects. It is laughable, given that Facebook, Google and LinkedIn have been blocked in the mainland for years -- my friends there throw their hands up in exasperation as they have to only use local social media platforms -- and the country is now also blocking virtual private networks. The Cold War be

Viewpoints July 13, 2020

South Korean airlines have suspended services or plan to reduce the number of flights on some Japanese routes as outbound travel demand falls amid escalating trade tensions with the neighboring country.  　On July 30, Asiana Airlines said it will reduce the number of flights on the routes to Japanese destinations, such as Fukuoka, Osaka and Okinawa, starting from mid-September.  　Asiana is the latest among local airlines that have decided to readjust flight schedules to Japan as an

Industry July 30, 2019

Retail sales in South Korea continued to rise in June as online shopping malls sold more fresh goods on the back of their faster delivery services, data showed on July 30.　The combined sales of 26 major offline and online retailers reached 10.5 trillion won ($8.86 billion) last month, up 5 percent from a year earlier, according to the data by the Ministry of Trade, Industry and Energy.　Sales of 13 major online stores and marketplaces jumped 11.7 percent over the cited period to drive the overall

July 30, 2019

Sometimes, in the world of business, the best defense is a good offense, and it seems like Samsung Electronics Vice Chairman Lee Jae-yong wanted to share this message with a handful of key figures at the South Korean tech giant to fend off rising challenges to its business. Lee held a meeting with five heads of Samsung’s major divisions over the weekend to discuss its business strategy amid a weak memory chip market and intensifying trade conflict between the United States and China. 

Technology June 3, 2019

Overseas card spending by South Koreans fell in the first quarter, despite the rising number of outbound tourists, as a weaker Korean won discouraged them from swiping cards overseas, central bank data showed on May 23.　In the January-March period, Koreans spent $4.68 billion using cards abroad, down 3.3 percent from three months earlier, according to the data by the Bank of Korea.　Quarterly card spending peaked at a record $5.07 billion in the first three months of 2018. But it declined for two

Economy May 23, 2019

South Korea’s main flagship air carriers appear to be facing strong headwinds at the same time and it is worrisome.Korean Air and Asiana Airlines are embroiled in their own difficulties, and it is all connected to the typical family-owned conglomerate management system that is so prevalent here.While there have been calls for chaebol reform over the past years I have been here -- starting with Roh Moo-hyun administration -- there have been no drastic changes so far.I have always admired Roh, and

Viewpoints April 22, 2019

The next-generation wireless network technology 5G is in the limelight as South Korea is poised to beat the United States as the first to cross the finish line. Tech giant Samsung Electronics has said it will launch its Galaxy S10 5G device in collaboration with the nation’s largest telecom operator SK Telecom on Friday, beating US telco Verizon, which is scheduled to launch its fifth-generation services across the country on April 11.But how exactly will 5G telecom services benefit consumers? W

Viewpoints April 3, 2019

Shares of Hyundai AutoEver will be traded on the country’s main stock market this week, the bourse operator said on March 27.　The ICT service provider of the world’s fifth-largest automotive conglomerate will go public on the Kospi on March 28 after the Korea Exchange gave the nod to its listing. 　The initial public offering price was set at 48,000 won ($42.3) per share, and the listing could generate around 1 trillion won in fresh capital, according to the KRX.　Hyundai AutoEver

Market March 27, 2019

Hyundai Motor said on March 27 that its all new entry-level sport utility vehicle, to be unveiled at the New York auto show, will be called the Venue. 　South Korea’s largest carmaker said the small crossover, which sits below the subcompact Kona, targets younger people in their 20s and 30s. The vehicle will reach the global market this year.　The company didn’t provide further details, such as the dimensions, powertrain and price of its new car.  　In recent years, the Korean carmaker has strength

Mobility March 27, 2019

South Korean mobile carrier LG Uplus said on March 21 it will launch Nvidia’s GeForce NOW cloud gaming platform for IPTV services and upcoming 5G smartphones. 　LG Uplus said it has signed an exclusive deal with Nvidia, a US-based graphics processing unit manufacturer, to give access to a rich array of games to its mobile and internet subscribers. 　Since GeForce Now is an open platform, users can connect their accounts from online stores and bring their own games from a server. Nvidia provides ac

March 21, 2019

South Korean tech firm LG Electronics said on March 21 its new flagship smartphone, the G8 ThinQ, will officially go on sale in the domestic market this week. 　The G8 ThinQ is priced at 897,600 won ($796) and will hit store shelves on March 22, and be available in the North American and European markets in the coming weeks. 　The price is slightly less expensive than the Samsung Galaxy S10e, the “budget model” of the tech giant‘s latest flagship phone that is priced at 899,800 won. 　The G8 featur

Technology March 21, 2019

A team from the International Monetary Fund, which is here on a regular audit of the economy, expressed concerns on Monday over the pace of minimum wage hikes in South Korea.According to news reports, the delegation led by Tarhan Feyzioglu, Korea mission chief at the IMF, shared the concerns in a meeting with Finance Minister Hong Nam-ki as part of its annual meeting with Korean policymakers.In 2017, the minimum wage spiked 16.4 percent on-year to 7,530 won ($6.60) per hour in the biggest hike i

Viewpoints March 13, 2019

It is now nine years since the South Korea-India Comprehensive Economic Partnership Agreement -- a de facto free trade agreement -- went into effect. However, while much progress has been made, there is still a long way to go for economic ties to reach their potential.It was widely anticipated that the CEPA, which came into effect in January 2010, would lead to more bilateral trade and investments. South Korea abolished tariffs on 93 percent of Indian imports and India has done the same on 75 pe

Economy Feb. 27, 2019