Samsung Electronics has recently hired Daniel Oh, a corporate governance specialist who worked for Institutional Shareholder Services and BlackRock, as an executive vice president at its global investor relations team. According to the tech giant’s business report Monday, Oh, 48, started working at Samsung in February, becoming the No. 2 man on the investor relations team. Oh who studied econom...

Apple CEO Tim Cook welcomed the opening of a new Apple Store in the shopping district of Myeong-dong, central Seoul, on Saturday, “Apple Myeongdong opened its doors as our newest store in the heart of Korea. We‘re thrilled to further support our Korean customers in a space as unique and vibrant as the community it serves,” Cook tweeted Saturday. In another tweet Sunday, he congratulated K-pop g...

Samsung Electronics said Thursday it was highly likely to report its best quarterly earnings in the first quarter this year on upbeat sales of memory chips and smartphones. According to its earnings guidance, the tech giant projected its operating profits at 14.1 trillion won ($11.5 billion) for the first three months of the year, a 50.03 percent increase from a year earlier. The figure topped ...

Kakao Mobility, the country’s leading taxi-hailing service operator, said Thursday it will expand its domestic-focused business, with its next-generation mobility technology and user-friendly service. “This year will be the starting point of Kakao Mobility to enter the global market, as we move ‘Beyond Korea,’” said Kakao Mobility CEO Ryu Geung-sun in an online press conference. Ryu said the co...

8 Rivers CEO talks about SK’s role as bridge to Asia-Pacific outreach

Korea’s real estate platform Rsquare said Wednesday it will provide commercial real estate services in Vietnam with Shinhan Bank’s branch in Vietnam. The firm will offer brokerage service, asset management, interior construction, residential property consulting and property inspection for Shinhan Bank Vietnam clients. According to Rsquare, it has compiled data on over 10,000 offices and commerc...

South Korean IT platform giant Kakao will expand its overseas revenue by 30 percent in the next three years to diversify its heavily domestic business-reliant income source, the company said on Wednesday. “The 56 overseas branches aim to boost their sales revenue by 40 percent this year. By 2025, we plan to increase overseas revenue to account for 30 percent of total sales, compared to the curre...

Instagram has picked South Korea as a test bed for its expanded Reels service, the social media platform said Wednesday. The new Reels feed will include videos that can be up to 15 minutes long. The previous Reels feed only showed short clips up to 60 seconds, according to Instagram. Korea, along with Brazil, was one of the only two countries to be selected for the trial run of the more inclusi...

Samsung Electronics said Wednesday its latest smartphone Galaxy S22 is highly likely to see 1 million unit sales at home this week, calling its sales performance a “smooth ride” despite unfavorable market conditions such as supply chain constraints and slowing domestic smartphone sales. According to the company’s preliminary estimates, the phone’s sales exceeded 900,000 units early this month, a...

An Israeli medical imaging technology company said it began producing digital X-ray chips at its semiconductor plant in Yongin, Gyeonggi Province, on Tuesday. The Nasdaq-listed Nanox said its Yongin facility will be the main production site of its microelectromechanical systems, or MEMs, called Nanox.Source chips, a key component of the company’s Nanox.ARC, a 3D medical imaging system that has t...

The South Korean regulator on network and IT services said Tuesday that it has reached the conclusion that Google’s new payment policy violates the Korean law that prohibits app store operators from forcing app developers to use in-app payment systems. Based on its conclusion, the Korea Communications Commission will make a final ruling on whether Google’s new billing system is against the law a...

South Korean memory chip maker SK hynix and its US NAND flash memory solutions arm Solidigm have launched solid-state drives for data centers, the companies said Tuesday. The new product, called P5530, is their first collaborative effort since San Jose-based Solidigm‘s SSD business was acquired by the world’s second-largest memory chip manufacturer in December. P5530 will be a combination of SK...

Samsung Electronics and its tech foundation said Tuesday they are spending a combined 48.65 billion won ($40 million) this year to fund 27 new research projects on futuristic technologies from anti-aging to new materials for chips. The tech giant has supported local researchers and their work through the Samsung Science & Technology Foundation since 2013. About 1.5 trillion won has been poured i...

Airline stocks rise on hope for outbound travel resumption, oil price downturn

SK Square is poised for two stock market flotations of its key affiliates -- a mobile app marketplace and a security service -- on the Korea Exchange in May, filings showed Monday. The initial public offerings of the subsidiaries will amount to up to 1.33 trillion won ($1.09 billion) if combined, in the first two attempts since SK Square was spun off from Korea’s largest telecom carrier SK Telec...