Most Popular
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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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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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Hankook Tire takes over control of Hanon Systems
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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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S. Korea, Japan, China agree to create new financing facility against regional crises
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From fake prostitution ring to nonexistent robber, prank calls hamper police
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SK hynix sets aside 46 tln won for new chip plants
South Korean chip giant SK hynix Inc. said Tuesday it will spend 46 trillion won ($38.2 billion) to build three new semiconductor production lines over the next 10 years in an effort to bolster its market position and join government efforts to revitalize the economy.SK Group Chairman Chey Tae-won unveiled the ambitious investment plan at a dedication ceremony for one of the new chip plants in Icheon, 80 kilometers southeast of Seoul, which was also attended by President Park Geun-hye and other
Aug. 25, 2015
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SK Planet’s public transit app rides popularity wave
Information technology solutions developer SK Planet said Monday its real-time public transport mobile app service had crossed the 4-million download mark.Utilizing its capabilities to collect and analyze traffic data across the nation, the affiliate of SK Group launched the mobile app, dubbed T Map Public Transit, in September last year. The number of daily active users for the app has surpassed 200,000 since then, and around 60 percent of commuters during use the app during rush hour, the comp
Aug. 24, 2015
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LG confident of securing lead in world’s washer market
CHANGWON, South Gyeongsang Province -- Since its debut last month, LG Electronics’ Tromm Twin Wash -- a washing machine fitted with a front loader with a separate small top loader below -- has won fans overseas. Inundated with orders from global retailers for what LG calls a revolutionary invention, the tech giant said it has been working flat out to meet demand.LG Electronics employees work at the assembly line in Changwon, South Gyeongsang Province, on Friday. (LGE) The electronics firm declin
Aug. 23, 2015
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Daelim wins U.S. deal to supply petrochemical technology
Daelim Corp., one of South Korea's major petrochemical firms, said Sunday it has clinched a deal to supply its patented technology to a U.S. chemical company, marking the first time for a local business here to win a licensing agreement in the world's No. 1 economy. Under the agreement, Daelim will grant Lubrizol Corp. the rights to use its technology for producing both commodity polybutene and high reactivity polybutene at a single plant, according to the South Korean firm. Polybutene is used i
Aug. 23, 2015
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LG, Samsung battery-powered Audi EV aims to take on Tesla
Audi, together with Korean battery makers LG Chem and Samsung SDI, aims to take on Tesla with its new full-electric sport utility vehicle that drives 500 kilometers on a single charge. The German marque is set to unveil a preview of the e-tron quattro concept at the upcoming Frankfurt auto show in September. It plans to put the car into production in 2018 as its first mainstream electric car. The car’s 500-kilometer driving range is more than triple that of other mass-market EVs on the market. E
Aug. 21, 2015
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[Newsmaker] Samsung Pay shakes up mobile wallet race
Samsung Electronics’ new mobile payments system Samsung Pay made its Korean debut on Thursday, aiming to replace credit cards with mobile phones. Starting with the Korean service, Samsung Pay will be released in the U.S. on Sept. 28 after a monthlong beta service. Launches in other markets are set to come in phases. A customer pays with Samsung Pay at a grocery. Samsung ElectronicsKey to the service is its compatibility with existing credit card terminals, as it creates a small magnetic field th
Aug. 20, 2015
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Skin care start-up crowdfunds its way to global fans
Korean hardware start-up WayWearable is aiming to take K-beauty to the world with a smart skin care device that helps women in their daily life.And it has found sufficient reason to believe it can: Its debut product, WAY, used crowdfunding on global platform Indiegogo in May and June to raise over $120,000 from fans in 44 countries ― 243 percent of what it asked for, before the product even hit mass production. “K-beauty is hot nowadays. We would like to create a new movement blending K-beauty a
Aug. 20, 2015
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Samsung debuts new phablets in S. Korea
Samsung Electronics Co. rolled out its new phablets in South Korea Thursday, the latest effort by the world's top smartphone maker to rev up its sluggish smartphone business.The Galaxy Note 5 and the Galaxy S6 Edge+ were first showcased in New York last week. The cross between a smartphone and a tablet will arrive in the North American market Friday, and in China, Japan and other major countries on Aug. 28.The factory price of the Galaxy S6 Edge+ stands at 939,400 won ($794.42) here, while that
Aug. 20, 2015
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LG Chem to beef up acrylic acid, SAP production
LG Chem said Wednesday it had finished expansion work on production lines for acrylic acid and a super absorbent polymer -- two basic materials on which the company pins high hopes for market leadership.Following the expansion, its production plant in Yeosu, South Jeolla Province, has an annual production capacity of 510,000 tons of acrylic acid and 360,000 tons of SAP, the world’s fifth- and fourth-largest capacities, respectively. The company predicted an additional 300 billion won ($250 milli
Aug. 19, 2015
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Naver envisions ‘Smart Gangwon’
Naver, the largest Web portal operator in South Korea, said Wednesday it would put in great efforts to transform Gangwon Province into an innovation hub. Holding an event to mark the 100th day of its Creative Economy and Innovation Center, a start-up incubator, in the province Tuesday, Naver vowed to utilize state-of-the-art information and communications technology to grow small and medium-sized businesses in the region and help local enterprises overcome challenges caused by the geological hur
Aug. 19, 2015
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[Photo News] Samsung attracts tourist shoppers
SAMSUNG ATTRACTS TOURIST SHOPPERS-- Tech giant Samsung Electronics said Tuesday that it would hold promotional events to give gifts to foreign customers who purchase Samsung products at the firm’s retail stores at duty free shops during the “Korea Grand Sale,” a nationwide shopping event for foreign tourists held from August throughout October. (Samsung)
Aug. 19, 2015
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[Photo News] New wireless speakers
NEW WIRELESS SPEAKERS -- South Korean electronics firm LG Electronics said Wednesday it would add two new Bluetooth speakers -- the Music Flow P5 and SoundPop 360 -- to its wireless audio lineup. The tech firm will showcase the speakers at the IFA electronics trade show to be held in Berlin in September. (LGE) NEW WIRELESS SPEAKERS -- South Korean electronics firm LG Electronics said Wednesday it would add two new Bluetooth speakers -- the Music Flow P5 and SoundPop 360 -- to its wireless audio
Aug. 19, 2015
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Samsung to face litigation from suppliers
Dozens of Korean and foreign suppliers of Samsung Electro-Mechanics are seeking legal action against the electronics parts manufacturing unit of Samsung Group for its alleged mishandling of production contracts.BeCom, a local manufacturer, said Tuesday that the company, together with its 14 subcontractors in Korea and overseas, were suffering from combined financial losses of 46 billion won ($39 million) due to Samsung’s unilateral breach of contract. In June, BeCom inked a deal with Samsung Ele
Aug. 18, 2015
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KT, BC Card launch all-in-one digital wallet
South Korea’s leading mobile carrier KT and its financial business unit BC Card released a “versatile” smart wallet, which allows users to easily manage options for payment and rewards, from credit cards to digital coupons. Utilizing beacon, GPS and Wi-Fi technologies, the new smart mobile wallet, dubbed CLiP, automatically provides users the information of credit, debit and membership cards available at nearby coffeehouses, restaurants and retail stores. The digital wallet also suggests the bes
Aug. 18, 2015
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[Photo News] Card issuers get smart
CARD ISSUERS GET SMART -- Samsung Electronics said Tuesday that it would collaborate with 10 credit card companies to nurture the Samsung Pay mobile payment service. Executives from the tech giant and the card firms, including KB Kookmin Card, Woori Card and Samsung Card, pose at a meeting to map out ways to work together on the mobile payment system in Seoul, Tuesday. (Samsung Electronics)
Aug. 18, 2015
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Mobile carrier KT rolls out new mobile wallet app
KT Corp., South Korea's second-largest mobile carrier, unveiled Tuesday a new mobile wallet app that picks the best credit card or discount coupon benefits for a user to pay for a certain service, as the company pushes deeper into the mobile payment platform business. Its new smart wallet, CLiP, can organize discounts or pay-by-installments at designated stores -- common ancillary services offered by credit card companies in South Korea -- to tell the user which card is the most beneficial for t
Aug. 18, 2015
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SK Group considers W46 trillion investment in chipmaker hynix
SK Group is considering pouring about 46 trillion won ($38 billion) over the next few years to expand the production facilities of its chipmaking unit SK hynix, officials said Monday.The large-scale investment move came after group chairman Chey Tae-won returned to management after being released from jail following a special presidential pardon last week.Before presiding over a meeting with CEOs across group affiliates on Monday, Chey said, “I will have to move quickly and make on-site visits.”
Aug. 17, 2015
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LG Display to invest W10tr in OLED
South Korea’s top display-maker LG Display said Monday it would invest 10 trillion won ($8.5 billion) in OLED production by 2018, pledging a strategic shift to focus on the still nascent but lucrative display technology.The new investment plan was announced as part of the 20th anniversary of its LCD production at its plant in Paju, Gyeonggi Province. During the ceremony, LG Display CEO Han Sang-beom hinted at pouring considerable resources into OLED in the coming years, pinpointing the latest di
Aug. 17, 2015
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Samsung unveils plan to create 30,000 youth jobs in two years
South Korea’s largest conglomerate, Samsung Group, said Monday it would create about 30,000 new jobs for young workers over the next two years.For this, Samsung will make investments worth around 100 billion won ($84.5 million) to provide vocational and educational opportunities, the officials said. Samsung Group`s headquarters in Seoul. (Yonhap)Samsung’s move is in line with the government’s efforts to improve the youth job market.“Samsung will fulfill its responsibility to society by contribut
Aug. 17, 2015
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CrucialTec expects robust revenue growth in H2
South Korea’s leading fingerprint scanner maker CrucialTec said Monday that its fingerprint module business would continue to gain traction during the rest of this year thanks mainly to the burgeoning Chinese biometrics market. The Pangyo-headquartered firm said in its regulatory filing it would rake in around 285 billion won ($240 million) in revenue in the latter half of this year, up 280 percent compared to the same period last year. CrucialTec CEO Charles Ahn poses with fingerprint modules a
Aug. 17, 2015