[Newsmaker] Samsung unveils Galaxy Note 7 in New York

[THE INVESTOR] NEW YORK -- Samsung Electronics took the wraps off the much-anticipated Galaxy Note 7 smartphone at its annual Samsung Galaxy Unpack event in New York on Tuesday.Although the latest large-size smartphone -- often called a “phablet,” a combination of phone and tablet -- is the sixth in the Note lineup, it has been dubbed the Note 7 to align the numbering with the Galaxy S lineup.It comes with a slew of new features that will probably provide reason enough for those currently using

Aug. 3, 2016

[GALAXY NOTE] Samsung unveils Galaxy Note 7 in New York

[THE INVESTOR] NEW YORK -- Samsung Electronics took the wraps off the much-anticipated Galaxy Note 7 smartphone at its annual Samsung Galaxy Unpack event in New York on Tuesday.Although the latest large-size smartphone -- often called a “phablet,” a combination of phone and tablet -- is the sixth in the Note lineup, it has been dubbed the Note 7 to align the numbering with the Galaxy S lineup.It comes with a slew of new features that will probably provide reason enough for those currently using

Aug. 3, 2016

[Photo News] Samsung unveils Galaxy Note 7 in New York

Tech giant Samsung Electronics unveiled the Galaxy Note 7, the sixth of the phablet lineup, in New York on Aug. 2. (Samsung Electronics)

Aug. 3, 2016

LG to supply parts for GM's Bolt EV starting in August

[THE INVESTOR] LG Electronics will start supplying parts for General Motors’ upcoming full-electric Chevrolet Bolt from later this month. The Korean tech giant plans to supply 11 key parts, including the motor, invertor and battery pack, for the next six years. GM’s Chevrolet Bolt EV conceptThe car is expected to be launched in the fourth quarter. LG’s vehicle component is making a big push to secure more orders from global carmakers. Industry watchers expect the division’s sales to surge to 3 t

Aug. 2, 2016

Kolon Industries to produce colorless polyimide for first time

Kolon Industries, the chemical and textile unit of Kolon Group, said on Tuesday it will invest about 90 billion won ($81 million) in producing colorless polyimide, a key material for “bendable” smartphones and other flexible mobile devices. The company said it aims to complete the production line at its plant in Gumi, North Gyeongsang Province, by the first quarter of 2018. Kolon’s colorless polyimide, a key material for “bendable” smartphonesKolon is the first to produce the new material, while

Aug. 2, 2016

Samsung’s P/E ratio rises above Apple's for first time

Samsung Electronics’ price-to-earnings ratio has outpaced that of its archrival Apple for the first time. Samsung was trading at a P/E ratio of 13.41 on the local bourse on Tuesday, while the figure for Apple remained at about 12.23. Until the end of 2013, Apple’s P/E ratio (12.14) almost doubled that of Samsung (6.93). But the gap started to narrow in 2015. While Apple’s P/E ratio remained almost the same last year at about 12.43, that of Samsung soared to 9.98. This year, Samsung stocks starte

Aug. 2, 2016

Samsung, SK hynix up memory chip investment

Memory chipmakers -- Samsung Electronics and SK hynix -- are spurring investment as Chinese tech giants are making an aggressive push into the semiconductor business backed by their government, analysts said.Chinese conglomerate Tsinghua Unigroup recently acquired half of the state-run chipmaker XMC. The tie-up is viewed by industry watchers as helping China move toward the goal of self-sufficiency in memory chips. Tsinghua Unigroup reportedly plans to set up memory chip factories with an invest

Aug. 2, 2016

SK Telecom, Nokia develop portable LTE network that fits in a backpack

South Korean network operator SK Telecom and Nokia on Tuesday said they have jointly developed a backpack-size portable Long Term Evolution network system tailored for rescue operations and emergency services.Compact enough to fit inside a backpack, the new portable LTE network system is equipped with a standalone base station as well as additional communications solutions, according to SKT.“The portable all-in-one PS-LTE system is a ground-breaking solution that enables communication among firs

Aug. 2, 2016

Korea to invest 200 bln won this year to expand EV charging infrastructure

South Korea will spend about 200 billion won ($180.3 million) this year to sharply expand electric vehicle charging infrastructure nationwide as part of its efforts to foster the eco-friendly sector as a new growth engine, the trade ministry here said Tuesday.Under the plan, led by the Korea Electric Power Corp., the country's sole power supplier, the government will build 150 on-street stations by November to accommodate 300 super chargers that are available for privately owned electric cars an

Aug. 2, 2016

Jicen Hitech, Chinese city unite for watch phone release

Watch phone-maker Jicen Hitech has signed a memorandum of understanding with Huaian City in China‘s Jiangsu province to provide 50,000 units of the smart wearable device, the Korean company officials said Monday.Under the agreement reached on July 14, the Korean company will establish a joint venture firm with China’s Unicom and the city. The city will provide the construction site and bear the set-up costs for the new firm while Jicen will supply the technology.Jicen’s Watch Roid (Jicen Hitech)

Aug. 1, 2016

Naver’s photo app Snow embroiled in plagiarism row

A local start-up has accused South Korean Internet search giant Naver of copying its photo and video-editing app. Seerslab alleged that Naver’s Snow app copied the image and camera functions of its photo-editing app Lollicam. Naver’s Snow is a photo app that enables users to take photos with face-tracking “stickers” and share them with friends. The app has hit 40 million downloads so far since it was first launched in September. Seerslab claims that Snow’s imaging functions, “stickers” and backg

Aug. 1, 2016

Samsung considers LG Innotek parts for Galaxy S phones

[THE INVESTOR] Samsung Electronics is continuing talks with LG Innotek, the parts unit of LG Group, to use the company’s “2 metal chip-on film” for its flagship Galaxy S phones, the Chosun Ilbo reported on Monday. Samsung uses chips and display panels from SK hynix and Chinese rivals, but it is rare for the company to use parts from its cross-town rival LG. The Samsung Galaxy S7 Edge, a curved-screen variant that outsells its flat-screen sibling (Samsung Electronics)The 2 metal chip-on film is u

Aug. 1, 2016

Duty-free sales nearly double in June

Sales at South Korea's duty-free stores nearly doubled in June from a year ago thanks to a rising influx of Chinese travelers and last year's low base in the wake of the Middle East Respiratory Syndrome outbreak, data showed Monday. Sales at duty-free stores nationwide jumped 94.1 percent in June from a year ago, surging for the ninth consecutive month, according to the data compiled by the Korea Customs Service. The June sales marked a sharp yearly growth because the market was hit hard by the

Aug. 1, 2016

[Weekender] Augmented reality beyond gaming and entertainment

The explosive popularity of Nintendo and Niantic’s augmented reality game “Pokemon Go” has set off a boom in Korea, with companies, the government and consumers thinking about how the combination of reality and digital imagination can change everyday life.For now, the primary focus is on games and entertainment as augmented reality is largely perceived as an advanced version of virtual reality. Virtual reality, which completely changes how users perceive their surroundings rather than adding com

July 29, 2016

[Weekender] 'Pokemon Go’ spotlights augmented reality’s potential

The explosive popularity of Nintendo and Niantic’s GPS-based mobile game “Pokemon Go” around the world, including South Korea, has thrust into the spotlight the core technology behind the game -- augmented reality.What exactly is augmented reality? It's a technology that overlays (or augments) digital images onto a person’s view of the world, merging one’s physical reality with digital imagination. In the case of “Pokemon Go,” the app utilizes gamers’ real-world locations to make Pokemon charact

July 29, 2016

KCC to investigate KakaoTalk over its in-app notifications

The Korea Communications Commission, the state media regulator, on Thursday said it plans to investigate Kakao Corp., operator of South Korea’s top mobile messenger KakaoTalk, over the legality of its in-app notifications.　The move came after a local civic group accused Kakao of unilaterally sending out messages notifying users of purchases, orders and deliveries made through the app -- which costs nominal data usage fees -- without obtaining the consumer’s consent.The civic body had asserted th

July 29, 2016

Nexon founder steps down from board amid corruption scandal

Nexon founder Kim Jung-ju on Friday officially stepped down from the company's board, following his indictment earlier in the day on suspicious stock transactions and bribery.Kim is charged with providing some 920 million won ($821,000) in bribes to Jin Kyung-joon, a South Korean senior prosecutor and college friend of Kim. Jin was arrested and indicted on Friday, and subsequently dismissed from his post.“I express my deepest apology to everyone,” Kim said in a statement. “I committed a grave wr

July 29, 2016

KT posts highest Q2 operating profit in 4 years

South Korean telecommunications firm KT said Friday that it posted an operating profit of 427 billion won ($379.6 million) in the second quarter, marking its highest quarterly performance in four years.　The company disclosed that its operating profit rose 15.8 percent on-year during the April-June period, thanks to its strong performance in its wireless network, landline telecom and media businesses.KT’s second-quarter performance overtook that of SK Telecom, the country’s leading telecom compan

July 29, 2016

[Weekender] Pokemon no longer child’s play

The augmented reality smartphone game “Pokemon Go” is fueling the already hyped-up market for “kidults,” a newly coined term that combines “kid” and “adult.” The Pokemon craze worldwide is likely to ignite new momentum for more nostalgia seekers in their 30s and 40s.They grew up watching the popular “Pokemon” animated series in the 1990s. Given that they now have the purchasing power, they are more than willing to buy products that can help them relive their childhood.  The market value for kidu

July 29, 2016

[Weekender] Augmented reality shines only with right storytelling

Following the “Pokemon Go” craze, the Korean government and companies are looking to pour money into advancing the local augmented reality sector. This is not the first time for Korea to push for AR.In 2012, talent agency S.M. Entertainment produced a program that allowed fans to dance with holograms of K-pop idol group EXO-K. Telecommunications giant KT also launched a mobile game called “Catch Catch,” which was a nearly identical precursor to “Pokemon Go.” Circus Company CEO Park Sun-uk demons

July 29, 2016