Articles by Shim Woo-hyun
Shim Woo-hyun
ws@heraldcorp.com-
Samsung’s Galaxy Z Flip flies off shelves on first day
Samsung Electronics’ foldable phone Galaxy Z Flip went on sale online and offline in Korea on Friday, with some online vendors selling out within 30 minutes. It started taking preorders for its new flagship smartphone series Galaxy S20 the same day. The Galaxy Z Flip is available at Samsung’s official website and branches of major mobile carriers SK Telecom, KT and LG Uplus. Earlier in the day, LG Uplus said Z Flip models sold out 30 minutes after launching Friday. In the fir
Industry Feb. 14, 2020
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With MWC 2020 canceled, Korean firms put plans on hold
The Barcelona-based Mobile World Congress has withstood a bevy of bad news in its 33-year history, including the global financial crisis of 2007-2008 and the severe acute respiratory syndrome epidemic of 2002-2003, but it has now failed to survive the most recent viral outbreak from China. MWC 2020 has been completely off called, according to the announcement on Thursday made by the GSMA, the organizer of the world’s largest wireless show. It is the first time for the annual show to be c
Industry Feb. 13, 2020
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CJ ENM partners with US-based production firms
CJ ENM partners with US-based production firms By Shim Woo-hyun CJ ENM said Wednesday it has signed a strategic partnership deal with US-based production giant Skydance Media to increase its foothold in the global market. The company and New York-based hedge fund RedBird Capital Partners have made investments worth $275 million in David Ellison’s Skydance Media, according to the firm. Skydance Media was first started in 2010 by the 37-year-old son of Oracle founder Larry Ellison. It is well
Industry Feb. 12, 2020
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Samsung SDI announces joint venture with local battery material maker
South Korea’s second-largest battery maker Samsung SDI said Tuesday it will launch a joint venture with local battery material maker EcoPro BM, as part of its efforts to develop next-generation batteries and better respond to the growing demand from global electric vehicle makers. EcoPro BM will invest 72 billion won ($60.8 million) for a 60 percent share in the joint venture, while Samsung SDI will invest 48 billion won for a 40 percent share in the new company. They plan to complete
Industry Feb. 11, 2020
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Korean tech firms to resume production in China
South Korean tech firms plan to resume operations at their facilities in China on Monday -- after an extended 17-day holiday for Lunar New Year -- despite the ceaseless spread of the novel coronavirus across the world. However, it is expected to take quite some time for them to fully recover their operation rates due to possible workforce shortages stemming from the rising number of virus infections in China, with fewer number of returning workers from the holiday in healthy conditions.
Industry Feb. 9, 2020
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LG Electronics not joining MWC 2020 over coronavirus fears
LG Electronics said Wednesday that the company was canceling its exhibition at Mobile World Congress 2020 in Barcelona, Spain, amid growing concerns over the new coronavirus that recently emerged in Wuhan, China. The company said it had decided to withdraw from MWC 2020 out of concern for the safety of its employees and the public. This is the first time LG Electronics will not have a presence at the mobile trade show, which takes place every February in Barcelona. LG is the first South Kore
Industry Feb. 5, 2020
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Films on epidemic disease go viral on OTT platforms in Korea
More people are using OTT services amid mounting fears over the month-old coronavirus epidemic, according to data collected by local over-the-top streaming service operators. Disaster films are especially popular, the data showed. According to data collected by Watcha, the number of viewers using its OTT service Watcha Play peaked Jan. 27-31. The total number of minutes that viewers spent on the platform reached its highest point Jan. 27 and remained at similar levels throughout that time fram
Industry Feb. 4, 2020
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KT ditches Oracle’s database management system
KT has recently changed its database management system operator from Oracle to a third-party business, according to industry sources Monday. The mobile carrier has reportedly chosen Rimini Street as its database management system provider. A deal was signed considering costs and more efficient services, the sources explained. The partnership indicates KT’s attempts to opt out of overall reliance on Oracle products for its database system. It has not renewed Oracle’s DB license i
Technology Feb. 3, 2020
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Korea’s semiconductor show canceled amid coronavirus outbreak
Semi Korea, the local organizer of Semicon Korea, on Friday canceled the nation’s semiconductor show due to mounting concerns over the new coronavirus. Semi Korea’s decision came in line with World Health Organization chief Tedros Adhanom Ghebreyesus’ announcement, in which he declared the outbreak a “public health emergency of international concern.” Semi Korea added that it is currently looking into contingency plans for Semicon Korea 2020 and will post updates
Industry Jan. 31, 2020
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Samsung to send donations to China
Samsung on Friday announced a donation of 10,000 articles of anti-contamination clothing, as well as 30 million yuan ($4.3 million) to support China’s response to the novel coronavirus, the company announced Friday. The donations will be sent to the Red Cross Society of China, via Samsung’s Chinese headquarters, it added. By Shim Woo-hyun (ws@heraldcorp.com)
Industry Jan. 31, 2020
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SK hynix’s 2019 operating profit plunges 87%
South Korean chipmaker SK hynix’s operating profit in 2019 plummeted 87 percent to 2.7 trillion won ($2.2 billion), amid the continued fall in memory chip prices and lower demand, according to its earnings report released Friday. The world’s second-biggest memory provider raised 26.9 trillion won in annual sales last year, a 33.3 percent plunge from 2018. The net profit nosedived 87 percent to 2.02 trillion won for the whole year. The company’s operating margin also droppe
Industry Jan. 31, 2020
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LG Display goes into red amid restructuring efforts
LG Display announced Friday it has posted an operating loss of 1.35 trillion won ($1.1 billion) in 2019 -- largest in eight years -- going into the red amid ongoing business restructuring efforts. Overall, the world’s biggest provider of organic light-emitting diode panels posted 23.5 trillion won in sales and 1.36 trillion won in operating loss last year, according to its earnings report for the final quarter of 2019. Compared to 2018, the annual sales dropped 8 percent, while th
Industry Jan. 31, 2020
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Naver’s sales surpass W6tr but profits down in 2019
Naver’s annual sales surpassed the 6 trillion won ($5.06 billion) mark for the first time in 2019, but its operating profit decreased due to the sluggish performance of Line and related platforms, according to a regulatory filing on Thursday. The South Korean internet giant’s annual sales totaled 6.59 trillion won, marking an 18 percent increase. The figure is four times greater than that of 2015, 3.25 trillion won. However, Naver’s operating profit fell to 710 billion won
Industry Jan. 30, 2020
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MWC 2020 to proceed as scheduled despite coronavirus spread
The Mobile World Congress 2020 will proceed as planned, according to a statement released by London-based GSMA on Tuesday local time. The event will kick off in Barcelona, Spain, on Feb. 24-27. The GSMA represents the interests of mobile operators worldwide, uniting more than 750 operators with almost 400 companies in the broader mobile ecosystem. It organizes MWC events annually in Barcelona, Los Angeles and Shanghai. The announcement comes amid mounting concerns over the novel coronavirus
Industry Jan. 29, 2020
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SK in hot pursuit of Hyundai for No. 2 spot in chaebol list: report
SK Group is fast catching up with South Korea’s second-largest conglomerate Hyundai Motor Group, even as Samsung Group continued to maintain the top spot last year with a sizable lead over them, according to a report on Wednesday. Samsung Group has remained the largest conglomerate in terms of fair value, revenue, operating profit and operating margin for the past five years, local corporate research center Korea CXO Institute said. Fair value represents the estimated worth of various
Industry Jan. 29, 2020
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