[Photo News] Samsung holds TV seminar in Latin America

A participant checks the picture quality of quantum-dot screens at a technological seminar held by Samsung Electronics in Mexico City on April 27. The Korean tech giant invited a group of video experts, retailers and journalists of six Latin American countries to the event, where it is showcasing its latest liquid crystal display-based TV technology that uses tiny particles that emit a different color of light depending on size. (Samsung Electronics)

May 1, 2016

Zika-carrying mosquito found in Korea, CDC says

A mosquito that is known to be capable of carrying the Zika virus has been found in Korea for the first time this year, the Centers for Disease Control and Prevention said Friday.The Aedes albopictus mosquito, also known as the Asian tiger mosquito, was spotted in three of the 39 inspection sites monitored by the CDC since March. While Aedes aegypti is the species most commonly associated with Zika, Aedes albopictus has also been linked to outbreaks.(Yonhap)The three areas include Seogwipo on Je

April 29, 2016

Samsung Display replaces CEO after quarterly loss

　Samsung Display said Friday that Kwon Oh-hyun, vice chairman and co-CEO of Samsung Electronics, will replace the company’s current chief executive Park Dong-gun.　The display business arm of Samsung Electronics did not elaborate on the reasons for the change, but some market watchers suspect Park was replaced after failing to boost the display business. Kwon Oh-hyun, vice chairman of Samsung Electronics. (Yonhap)　Samsung Display posted an operating loss of 270 billion won ($236.4 million) in the

April 29, 2016

LG Chem falls prey to email phishing

South Korea’s leading chemical company LG Chem has fallen victim to an online scam that caused 24 billion won ($21.1 million) of financial damage to the company.The fraud case started with an email last month that was sent to LG Chem from Aramco Products Trading Co. The email claimed that the bank account for their bilateral business transaction had changed, and asked LG to send its payment to a different account. LG sent the money without suspecting any foul play.(Yonhap)But the account did not

April 29, 2016

LG sells 1.6m G5 phones globally

LG Electronics said Thursday its flagship smartphone G5 shipments have exceeded 1.6 million units globally since its launch a month ago. “We will see more than 3 million shipments in the second quarter,” the company said during a conference call when it reported a 65.5 percent surge in operating profit to 505.2 billion won ($440 million) in the first quarter from a year ago. Even though strong sales of home appliances, especially more lucrative premium models, elevated the company’s profits over

April 28, 2016

Samsung SDI’s loss widens to over W700b in Q1

Samsung SDI said Thursday it posted 703 billion won ($ 614 million) in operating loss in the first quarter this year.Its total revenue, however, grew 7.6 percent on-year to 1.3 trillion won during the period, the battery-making arm of Samsung Group said in a regulatory filing.Its operating loss represents a 2,007-percent and 452-percent increase from a year and a quarter earlier, respectively.The firm said the larger operating loss was mainly attributable to 1.1 trillion won in one-off costs ref

April 28, 2016

Hanyang University chief's work published in Nature journal

Research led by a local college president was recently published in the international weekly journal of science Nature, school officials said Thursday.It is rare for a local university leader’s work to be published in the international journal. Hanyang University said its study led by president Lee Young-moo on hydrocarbon fuel-cell membranes with surface nanocrack coatings was published in the latest issue of Nature. The study featured an innovative way to provide fuel cells, which are essentia

April 28, 2016

Naver’s Q1 net profit up on strong global sales

Korea’s largest Web portal Naver saw its net profit rise 22.7 percent on-year during the first three months this year thanks to increased overseas sales.The Internet giant said that it logged 165 billion won ($144 million) in operating profit. Its sales came in at 937 billion won and its operating profit at 257 billion won. The figures were up by 26.6 percent and 32.1 percent, respectively.Naver’s robust overseas sales served as a major force behind the improvement in profit and it was mainly dr

April 28, 2016

Samsung proves resilience with earnings surprise

Tech giant Samsung Electronics has posted surprising earnings in the January-March period on the back of strong sales of its mobile devices, beating market estimates.Its net profit jumped 13.6 percent to 5.25 trillion won ($4.56 billion) in the first quarter, according to the company’s regulatory filing on Thursday. The firm’s operating profit came to 6.68 trillion won -- higher than the market estimate of some 5 trillion won -- with its revenue standing at 49.8 trillion won. The figures were up

April 28, 2016

[Photo News] Dongbu Daewoo pushes for retro design

Korea’s third-largest electronics firm Dongbu Daewoo Electronics rolls out new products of the “The Classic,” microwave lineup, featuring a retro design, in Seoul on Thursday. (Dongbu Daewoo)

April 28, 2016

[Photo News] Samsung developer day

Samsung Electronics president and mobile business chief Koh Dong-jin (third from left) poses with young engineers during Samsung Developer Conference 2016 that kicked off Wednesday in San Francisco. Some 70 sessions on latest technologies such as the Internet of Things, smart TV and virtual reality are offered during the two-day event. (Samsung Electronics)

April 28, 2016

Samsung to buy back W2tr shares

Samsung Electronics said Thursday it will buy back 2 trillion won ($1.7 billion) of its own shares in the third installment of its 11.3 trillion won buyback plan. The scheme will start Friday for three months, while the whole scheme is expected to be completed by later this year. In October, the company announced it would spend 11.3 trillion won to buy back and cancel shares over the next year. It is the company’s largest-ever payback scheme, following two others in 2007 and 2015, each worth 2 t

April 28, 2016

Samsung Electronics Q1 net profit up 13.55%

Samsung Electronics said Thursday its net profit advanced 13.55 percent on-year to 5.25 trillion won ($4.56 billion) in the first quarter, on the back of brisk sales of its latest flagship smartphones.Sales gained 5.65 percent on-year to 49.7 trillion won, while operating profit rose 11.65 percent to 6.67 trillion won, Samsung said in its regulatory filing. The results were mostly in line with an earnings guidance released earlier this month.Samsung said its IT and mobile communications business

April 28, 2016

Start-ups form alliance for joint online-to-off-line services

A group of South Korea’s leading start-ups announced Wednesday that they would join forces to invigorate the online-to-off-line sector, in which many, if not all, are bleeding cash due largely to high marketing costs.Representatives of five start-ups -- SOCAR, Yogiyo, Yanolja, Mesh Korea, and Spoqa -- said they would form the O2O Alliance, seeking collaboration among the rising firms in the Korean start-up scene.(Starting from second from left) Shin Seung-ho of SOCAR, Ryu Jeong-beom of Mesh Kore

April 27, 2016

LG Display net tumbles but stays in black

LG Display, the display-making unit of LG Group, said Wednesday its net profit plunged 99.8 percent in the first quarter, but managed to stay in the black, beating expectations. Net profits tumbled to 1.1 billion won ($1.02 million) in the first three months of this year, compared to 475.7 billion won a year ago. (Bloomberg)The company managed to maintain a surplus despite analyst estimates of 100.3 billion won in deficit. Operating income fell 94.7 percent to 39.5 billion won from the same peri

April 27, 2016

[Photo News] LG launches Easy TV

LG NEW ‘EASY’ TV -- LG Electronics on Wednesday launched five new versions of its Easy TV that aims to offer a more convenient viewing experience especially for the elderly. The TV adjusts brightness more quickly and doubles text size compared to other TVs. The company said the TV sells more than 100 units a day. (LG Electronics)

April 27, 2016

[Photo News] Samsung holds Galaxy S7 photo contest exhibition

GALAXY S7 PHOTO CONTEST – Samsung Electronics holds an exhibition featuring some 100 photos taken with its Galaxy S7 smartphone on Wednesday in Garosu-gil, southern Seoul. The top 10 photos were awarded with prizes. (Samsung Electronics)

April 27, 2016

Nokia speeds entry into digital health hardware

About a decade after Apple Inc.’s iPhone first hit the market, Nokia Oyj is seeking to relaunch its consumer business with health bands and connected scales by acquiring French startup Withings SAS. It’s out to revive a brand that was once one of Europe’s most valuable, but has slipped further as Nokia sold its phone business to Microsoft Corp. two years ago to focus on telecommunications networks.“The longer you’re out of a market, the more your brand value declines,” Ramzi Haidamus, who heads

April 27, 2016

10 futuristic services in era of low growth

A future preparation committee affiliated with the Ministry of Science, ICT and Future Planning on Wednesday announced 10 promising services that would help the Korean economy to grow even in an era of low growth. The services include: customized health care; cashless financial transactions; unmanned transportation; crisis response using the Internet of Things; life extension; electricity charging; eco-friendly energy platforms; artificial intelligence; energy supply for wearable devices; and le

April 27, 2016