Articles by Shim Woo-hyun
Shim Woo-hyun
ws@heraldcorp.com-
GS Group donates W1b to help victims of heavy rains
GS Group said Tuesday it has donated 1 billion won to the Community Chest of Korea to help victims affected by the recent heavy downpour in South Korea. “We hope the donation will support those who suffered from heavy monsoon rains,” a company official said. “The group will continue its relief efforts.” GS Group affiliates have been separately joining relief efforts to support recovery efforts. GS Caltex last month delivered 100 million won worth relief kits to a l
Industry Aug. 11, 2020
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LG U+ to roll out 5G-powered AR glass service with Nreal
LG U+, a South Korean telecommunications firm, said Tuesday that the company has commercialized the world‘s first 5G-based augmented reality glass solutions. The wearable device named LG U+ Real Glass is supported by smart glasses provided by mixed-reality product developer Nreal and chipmaker Qualcomm, according to the telecom firm. The glasses, which are to be connected to users‘ smartphone via USB, can project a display as wide as 254 centimeters. Users can project multiple ap
Technology Aug. 11, 2020
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KT’s Q2 operating profit jumps on improved B2B business
Korean telecom giant KT said Friday its operating profit increased by 18.6 percent though its sales dropped during the same period in the second quarter this year. Operating income of KT in the second quarter reached 207.6 billion won ($175 million), compared to 203 billion won last year, according to a regulatory filing Friday. Sales of KT during the same period dropped 3.6 percent to 5.8 trillion won, the regulatory filing also showed. Improved earnings from business-to-business units he
Technology Aug. 7, 2020
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LG U+ Q2 net profit soars, fastest growth for third consecutive quarter
Korea’s third-largest mobile carrier LG U+ said the company’s operating profit in the second quarter increased by 59.2 percent on-year, the fastest growth rate for three consecutive quarters among local mobile carriers. In the meantime, quarterly sales for LG U+ went up by 5.1 percent on-year to reach 3.2 trillion won ($2.7 billion) during the April-June period, the company added. Since the fourth quarter last year, quarterly operating profit for LG U+ has increased by 75 percent,
Technology Aug. 7, 2020
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Naver’s online cartoon service posts W3b daily sales
Naver on Friday said that its online cartoon business is posting 3 billion won ($2.5 million) in average daily gross sales as of Aug. 2, up from 2 billion won in August last year. Naver contributed the growth to the increased number of monthly active users. Active users in July surpassed 650 million worldwide, increasing by more than 1 million over the last two months. Revenues also started to increase as the number of users in foreign nations saw a rapid surge, according to the firm. Sales
Technology Aug. 7, 2020
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[Monitor] SKT’s 5G fastest: ministry
The Ministry of Science and ICT of South Korea on Wednesday reported its assessment of 5G networks provided by the nation’s three largest mobile carriers. According to the assessment conducted in Seoul and six other major cities in Korea, the average upload and download speeds of 5G networks reached 64.16 megabits per second and 656.56 Mbps, respectively. SK Telecom’s 5G network boasted the fastest speed among telecommunications firms, while that of LG U+ was listed as the to
Technology Aug. 7, 2020
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KT CEO urges transformation into platform company
KT CEO Koo Hyun-mo has told executives and employees in a company-wide email that the mobile carrier needs to move beyond network service provision to become a platform operator. The KT CEO’s announcement followed several recent changes at the corporation. KT Skylife last month was selected as the preferred bidder to acquire cable TV operator Hyundai HCN. KT also inked a partnership with Netflix to improve the quality of its pay TV platform. “KT has started to undertake practica
Technology Aug. 4, 2020
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In terms of renewable energy usage, Korea lags behind most of the world
South Korea generates relatively little power from renewable energy, lagging behind most of the world’s countries, a report showed Sunday. According to the data compiled by France-based energy consulting firm Enerdata, renewable energy-based power generation accounted for only 4.8 percent of the nation’s net power generation, putting Korea 40th among 44 nations. The countries that appeared further down the list were all oil-producing nations from the Middle East, where demand for
Industry Aug. 2, 2020
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[Photo News] S. Korea, Cambodia begin official FTA talks
Industry July 30, 2020
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Naver posts all-time high sales in Q2
South Korea’s top internet firm Naver announced Thursday that its sales in the second quarter reached an all-time high of 1.9 trillion won ($1.6 billion), up 16.7 percent on-year. The company’s operating profit increased by 79.7 percent to 230 billion won, while net profit increased twofold logging 90 billion won. Naver said online shopping transactions helped revenue to grow by 8.6 percent to 772.2 billion won. The number of small vendors on Naver Smart Store marked a monthly
Technology July 30, 2020
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WTO establishes panel for Korea’s complaint over Japan’s trade restrictions
The World Trade Organization’s Dispute Settlement Body has decided to set up a panel to look into South Korea’s complaint over Japan’s trade restrictions, the Ministry of Trade, Industry and Energy said Wednesday. The DSB makes decisions on trade disputes between governments that are adjudicated by the WTO. Panels are limited to making recommendations. Members of the multilateral trade agency have agreed to set up a panel following South Korea’s request last month.
Industry July 29, 2020
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SoftBank Robotics enters Korean market
SoftBank Robotics announced Tuesday it will launch operations in South Korea with its artificial intelligence-enabled vacuum-cleaning robot Whiz. The company aims to take the lead in the assistive robotics market here, which is currently led by LG Electronics. Whiz is the Japanese firm’s second robot which was commercialized in May last year. The model, designed for commercial settings, is equipped with image sensors that allow autonomous driving and is connected to the cloud system, w
Technology July 29, 2020
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SKT to take visitors back 600 years in time with Changdeokgung AR tour
SK Telecom on Monday unveiled an augmented reality-powered application designed to let visitors experience life in Seoul’s Changdeokgung 600 years ago. Changdeokgung, built in 1405 as one of the Joseon era’s main royal residences, is listed among UNESCO’s World Heritage Sites. According to SKT, visitors to the royal palace can download the mobile application ARirang and use it as a virtual tour guide starting Tuesday. The mobile carrier said it created the AR content in c
Technology July 27, 2020
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SKT finally halts 2G mobile services
SK Telecom said Monday it has permanently ended its 25-year-old 2G mobile service. The top mobile carrier here received the go-ahead from the ICT Ministry last month and started to switch off the 2G service in smaller cities including Sejong since July 6. Seoul was the last city that it shut down the service. Subscribers of SKT’s 2G service in Korea can no longer receive and make calls or send text messages. According to the company a majority of the company’s 2G users -- around
Technology July 27, 2020
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More people over 50 use online platforms amid pandemic
More Koreans in their 50s in Korea have started using online platforms since the start of the coronavirus pandemic, a survey showed Friday. According to the survey conducted on 500 people over the age of 50 by the corporate social responsibility unit of Lina Life Insurance, 38 percent of respondents answered that they started using online livestreaming services for the first time after COVID-19. Six out of 10 people said they are using online platforms like YouTube and Netflix. Around 32 p
Technology July 24, 2020
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