Most Popular
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Do Korean doctors make too much money?
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Korean industries gauge impact of Biden's steep tariffs on China
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Court refuses injunction on medical school expansion
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Why Korean crime stories typically feature nameless, faceless perpetrators
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Is FTC's conglomerate listing a boon or bane for Hybe?
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NewJeans to headline palace show
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Coupang's Kim Bom escapes chaebol chief designation again
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Debate on 'no-seniors zones' heats up
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S. Korea, Cambodia forge strategic partnership
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Rare mid-May heavy snow warning issued over mountainous areas of Gangwon
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South Korea fears collateral damage from US-Huawei fight
With the US government ramping up pressure on its allies to reject Huawei Technologies equipment for its 5G cellular networks, South Korea is struggling to come up with a response amid the escalating conflicts between the world’s two superpowers. The Trump administration has reportedly urged the Korean government to prevent companies from purchasing Huawei’s equipment. Citing LG Uplus as an example, an unnamed State Department official has demanded a halt to the mobile carrie
May 27, 2019
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SK Innovation brushes off LG Chem suit, pushes for battery biz
SK Innovation, South Korea’s top oil refiner and third player in the electric battery market, announced Monday the company will expand its EV battery production capacity 20-fold by 2025, shrugging off concerns about a legal issue raised by competitor LG Chem. During a press conference on the firm’s growth plan, SK Innovation CEO Kim Jun said the company was planning to ramp up its annual battery output from the current 5 gigawatt-hours to 100 GWh by 2025 with an aim to maintain its o
May 27, 2019
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GS Home Shopping invests $1.2m in Vietnamese home-sharing startup
GS Home Shopping, a leading home shopping channel operator here, said Sunday that it has invested $1.2 million in Luxstay, a Vietnamese home-sharing platform that targets the Southeast Asian market.The deal marks GS Home Shopping's second such investment in an e-commerce startup based in Vietnam. In January this year, the South Korean company invested $3 million in another e-commerce venture firm, Leflair, which focuses on premium-branded products for women, men, children and homes.Vietnam, one
May 26, 2019
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Exit Daejeon announces W14.2b startup funding agreement
DAEJEON -- Startups from across South Korea, global startup community leaders and representatives of Daejeon Metropolitan City flocked to Daejeon Convention Center Thursday to mark the end of the three-day Exit Daejeon 2019 event. Located some 140 kilometers south of Seoul, Daejeon served as a venue where local startups were given an opportunity for more international exposure. In the meantime, global startup community organizers like Slush and Junction, as well as early-stage startup investors
May 23, 2019
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Naver chooses 4 Asian countries as outposts for V Live service expansion
South Korean tech giant Naver said Thursday it will focus on four Asian countries in expanding its K-pop livestreaming service, as part of efforts to boost its global profile starting with the region with better business outlook. During a press conference in central Seoul, Naver V Live’s chief Park Sun-young said it had chosen Vietnam, Indonesia, Thailand and Japan as strategic countries for expansion and would encourage local pop stars and influencers to participate in the V Live
May 23, 2019
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Seoul to become first global city to use 5G network in public transit
Following hype over how to incorporate the fifth-generation network into autonomous driving since the network began commercial service here last month, the initial step toward the futuristic goal is expected to take off in Seoul later this year. South Korea’s biggest mobile carrier SK Telecom and Seoul City government said Thursday they have agreed to develop 5G-based maps for self-driving. By the second half of this year, 1,700 vehicles will be used to create a map by providing real-tim
May 23, 2019
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Samsung to gain in short term from Trump-Huawei standoff: analysts
With the Trump administration banning Huawei from selling technology to the US market, and its suppliers cutting ties with the Chinese firm, South Korean companies are scrambling to figure out how the confrontation will impact their business outlook. Following an executive order that allows the US government to block purchases of what it deems to be security-threatening technology, Google has pulled Huawei’s license to access the Android operation system. The Department of Commerce so
May 22, 2019
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European nations pitch to attract Korean startups at EXIT Daejeon 2019
European countries pitched to attract South Korean startups during an event held at the Global Startup Festival Daejeon 2019 on Wednesday. During a sideline event called Startup Talk Concert with Foreign Embassies, officials from Finland, the Netherlands and Australia said their governments and private sector are putting a lot of efforts to nurture domestic and overseas startups. “The Australian government is putting more emphasis on startups as the country shifts from coal and mining
May 22, 2019
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QLED TV leads growth of global TV market in Q1
Quantum-dot light-emitting diode TVs led growth in the world’s premium TV market in the first quarter of this year, in contrast to organic light-emitting diode TVs, according to market data on Wednesday. Data compiled by IHS Markit showed that a total of 912,000 QLED TVs were sold in the January to March period, increasing 2.5-fold from 367,000 units in the same period last year. Samsung Electronics spearheaded growth in QLED TVs by selling 896,000 units, a threefold increase from a year e
May 22, 2019
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[Herald Interview] The Shortcut to train talent from diverse backgrounds
DAEJEON -- Established in January, 2016, The Shortcut, a community-based Finnish organization, has been offering pro-bono training programs for people with diverse backgrounds, including refugees, immigrants, and multicultural youth, to help them get a breakthrough in the technology sector.While nurturing people to have skill sets, the organization also helps quench the thirst for skilled personnel in the startup world. “What we do is accelerate people from diverse backgrounds to thin
May 22, 2019
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Samsung introduces video AS service
Samsung Electronics Service, an after-sales subsidiary of Samsung Electronics, said Tuesday it will introduce a video consultation service for customers who experience problems. When customers contact, a text message with a link to the video system will be sent. It will connect customers with service engineers, allowing them to show problematic parts of their products directly to the engineers. (Samsung Electronics)“The service will help customers explain better the problems they face, while sa
May 21, 2019
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Global startup community leaders take Daejeon by storm
DAEJEON -- All eyes are on Daejeon, South Korea’s fifth-largest metropolitan city, as it moves to put together leaders of the global startup community through Exit Daejeon 2019.The three-day conference, also known as Global Startup Festival Daejeon, kicked off at 2 p.m. Tuesday at the Daejeon Convention Center, hosting some 300 participants in this city some 140 kilometers south of Seoul.“Here in Daejeon, we have a wonderful set of communities already in place with the best universities based in
May 21, 2019
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[Newsmaker] Tada takes center stage in carpooling service dispute
On March 7, South Korean ride-sharing company Kakao Mobility struck a deal with taxi unions that was expected to bring an end to protests by cab drivers. Two cab drivers had killed themselves by self-immolation to protest Kakao’s services, which they said would destroy their livelihoods. Although taxi unions accepted the agreement, which limits car-sharing services to four hours of operation daily on weekdays, some cab drivers remained unsettled, as other car-sharing services continued operati
May 20, 2019
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[EXIT DAEJEON 2019] Chaebol to play key role in hardware renaissance: HAX founder
Cyril Ebersweiler, the founder and managing director of hardware accelerator HAX, is out to create a startup-driven hardware renaissance. And in his view, Korea has much potential. “We’ve been quite familiar with the Korean ecosystem and did a few investments there. I think it’s one of the most dynamic ecosystems in the world, and it is doing better than some of its Asia counterparts, while providing a decent market locally for Korean companies as well as quality manufacturing,” said Ebersweiler
May 20, 2019
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KT to enhance partnership with Russia’s biggest telco
Major South Korean mobile carrier KT said Sunday it has discussed business cooperation with Russia’s biggest telecom firm, Mobile TeleSystems, to boost their partnership in the fifth-generation cellular network. KT’s chief Hwang Chang-gyu met with MTS Group CEO Alexey Kornya on Friday at KT’s headquarters in downtown Seoul. MTS is the largest mobile operator in Russia, with more than 100 million subscribers in Russia and neighboring countries. KT’s chief Hwang Chang-gyu(left) shakes hands wit
May 19, 2019
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Market surprised by popularity of LG’s first 5G smartphone
With LG Electronics’ first 5G-powered smartphone attracting more subscribers than its predecessors since its launch earlier this month, speculation is rife about the reasons behind the better-than-expected performance of the struggling smartphone manufacturer. According to Korean mobile carriers, they have sold up to 100,000 LG V50 ThinQ handsets since it hit the market on May 10. This is estimated to be four times more than sales of its predecessor V40 ThinQ that was rolled out last year. The
May 19, 2019
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[EXIT DAEJEON 2019] Junction seeks more exposure in world’s most wired country
Junction, a Finnish nonprofit organization that has successfully organized world-leading hackathons in Europe since 2015, hopes to expand its presence in Korea.As a part of this process, the Junction former Head of Global Operations Antti Hammainen will be visiting Korea and participate in EXIT Daejeon 2019, global startup event that will be held at Daejeon Convention Center from May 21 to 23. More details on the event are available at http://www.startup-exit.com.Junction former Head of Global O
May 19, 2019
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[EXIT DAEJEON 2019] Startup’s success depends on team: Slush exec
All over the world, countless startups come and go. For investors, this means it has become tougher to pick the right one.According to Moaffak Ahmed, a Finnish serial entrepreneur and early-stage investor, team dynamics usually provide a good gauge in the early days of a startup.Slush board member Moaffak Ahmed“In the very early stage, when there are little or no metrics and evidence about business success, it’s really mostly about the team,” Ahmed said in an email interview with The Investor. “
May 19, 2019
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Startup-driven innovation to take center stage at Exit Daejeon 2019
South Korea’s fifth-largest metropolitan city is poised to host the Global Startup Festival Daejeon 2019 from Tuesday through Thursday as part of its efforts to become a global hub for startup-driven innovation. The three-day Exit Daejeon 2019 event will take place at Daejeon Convention Center. It is co-sponsored by Daejeon Metropolitan City, Herald Corp., Daejeon Center for Creative Economy & Innovation and CEO Clubs Korea.The conference is expected to host 300 participants, including SME and S
May 19, 2019
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[Herald Interview] Line pushes Thai startups to scale up
BANGKOK -- Thailand, an ASEAN country with a population of 69 million, is messenger platform Line’s second-largest market after Japan. In fact, 90 percent of the country’s mobile internet users are connected via Line, with the monthly number of active users amounting to 44 million. However, the company is now shifting from a messenger tool to an all-in-one app that provides various services ranging from e-commerce to contents. This not only corresponds to the increasing demand by c
May 18, 2019