Samsung, LG switch strategies to take on smartphone rivals

Caught between decreasing earnings and challenges posed by Chinese competitors, Korea’s tech giants Samsung Electronics and LG Electronics aim to create new growth momentum with their upcoming flagship smartphones, the Galaxy S7 and G5, respectively.As announced by both firms in January, they will be unveiling their marquee handsets, on Feb. 21, a day before the beginning of the Mobile World Congress trade show in Barcelona from Feb. 22 to 25. Shin Jong-kyun, the head of Samsung Electronics’ IT

Feb. 5, 2016

Kakao’s Q4 profits drop due to higher costs

Concerns over Kakao’s profitability are on the rise in the market as the profits of the mobile messenger operator nosedived in the October-December period last year. The company said in a regulatory filing on Friday that its net income over the three-month period plunged more than 80 percent year-on-year to 10.2 billion won ($8.5 million) while the firm’s operating income in the same period stood at 20.4 billion won, down 68.8 percent from a year earlier. The quarterly revenue came in at 241.7 b

Feb. 5, 2016

[Photo News] Go match between artificial intelligence AlphaGo and champion Lee Se-dol

AI CHALLENGES HUMAN GO MASTER -- Google unveiled the schedule of the Go match between its artificial intelligence program AlphaGo and Korean Go champion Lee Se-dol on Friday. Demis Hassabis, the founder of Deep Mind, developer of the AI program and a subsidiary of Google, tweeted on the same day that a total of five games will be held from March 9 to 15 in Korea. More details of the match will be revealed soon. (Kim Young-won/The Korea Herald)

Feb. 5, 2016

LG Electronics becomes street name in Changwon

 LG Electronics said Thursday a new street named after its corporate name has been created within an industrial complex in Changwon, the capital city of South Gyeongsang Province. LG Jeonja-ro, meaning “LG Electronics Street” in English, stretches some 500 meters in the neighborhood of its production plant.  The Changwon city government said the street was designated to honor the company’s continuing investments and job creations in the city even at a time of economic difficulties. The name has

Feb. 4, 2016

LG CNS to build bus traffic control systems for Malaysia’s MRT

LG CNS, the information technology solutions unit of LG Group, said Thursday it has won a deal to install bus traffic control systems for Malaysia’s Mass Rapid Transit railway stations.  (LG CNS)The $120 million MRT project aims to connect every corner of Kuala Lumpur via high-speed trains. The Line 1, stretching about 51 kilometers with 31 stations, is under construction and slated for completion by 2017. LG CNS has already participated in the project, as it secured a deal in 2012 to build tele

Feb. 4, 2016

Ex-Groupon COO joins Samsung

Kal Raman, former CEO of Xome and chief operating officer of Groupon, has joined Samsung Electronics America as chief digital officer to lead the company’s e-commerce business, the Seoul head office confirmed Thursday.  Raman, 47, has served in executive roles at Amazon, eBay, Drugstore.com and Groupon. He is currently based in Seattle.Over the past year, he was CEO of Xome, an online home-buying service affiliated with Nationstar Mortgage.A veteran in technology and retail business, Raman was a

Feb. 4, 2016

Dyson’s suction power test upsets rivals

Dyson, the U.K. home appliance maker, held a rare performance test in Seoul on Tuesday by comparing its own luxurious stick vacuum cleaner with cheaper competitors. During the event, Dyson’s motor drive engineer Graham Donald demonstrated the suction power of the company’s V6 Fluffy cleaner and the key technologies behind the device. Then, a “blind test” was carried out. He and two other staff members carrying three different stick vacuums started to collect baking power scattered on separate bl

Feb. 3, 2016

LG to hire marine sergeant for saving man’s life

LG Group said Wednesday it has decided to hire a marine staff sergeant who recently saved a blind man’s life at a subway station in Daegu. On Jan. 17, the 24-year-old Choi Hyung-soo jumped onto the tracks to save a 40-something blind man who missed his footing and fell. After confirming the man was safe, he left the scene without revealing himself. However, his live-saving act was publicized by the media. LG said it would offer him a full scholarship when he returns to college and hire him after

Feb. 3, 2016

Samsung ActiveWash sales exceed 1.5m

Samsung Electronics said Wednesday that its ActiveWash washing machine has hit the 1.5 million mark in global sales since its launch in February last year. The ActiveWash is a top-load washing machine with a separate sink for prewashing. It has been launched in 33 countries worldwide. The sales figure means 4,100 unit sales every day – Samsung’s fastest-selling washing machine, the company said. During the same period, the product sold more than 300,000 units in Korea alone. In the U.S., Samsung

Feb. 3, 2016

Mobile apps make Lunar New Year traveling convenient

Traveling during the Lunar New Year, or Seollal in Korean, is often a big hassle because it usually involves being stuck in traffic for long hours. Hence a range of technology has been launched to help ease the pain, including mobile applications and sensors, to help travelers have a smooth trip as well as to put their minds at ease about leaving their homes unattended. 　For instance, LG Uplus’ Internet of Things services platform -- dubbed IoT@home -- allows users to manage and control their ho

Feb. 3, 2016

Samsung SDS to build new data center in Chuncheon

Information technology solutions developer Samsung SDS has signed a memorandum of understanding with the Chuncheon City Government to build a data center in the city, some 100 kilometers east of Seoul, officials said Wednesday.The data center will focus on providing services for Samsung Group’s financial business affiliates. Construction of the facility will be completed in the second half of 2019, said Samsung SDS. Chuncheon mayor Choi Dong-yong (left) and Samsung SDS CEO Chung Yoo-sung pose at

Feb. 3, 2016

CrucialTec to host first FIDO interoperability testing events in Korea

Korean fingerprint module-maker CrucialTec said Wednesday that it will host the FIDO (Fast IDentity Online) Alliance interoperability testing events for the first time in Korea in March.The FIDO Alliance is a global consortium for bio authentication technology standards, and the events have been held every year in the U.S. to validate members’ identification technologies. CrucialTec CEO Charles Ahn poses with fingerprint modules of the firm at the MWC trade show in Barcelona in March last year.(

Feb. 3, 2016

Dongbu Daewoo launches refrigerators, washing machines in Spain

Korea’s third-largest home appliance maker Dongbu Daewoo Electronics has been stepping up efforts in global markets.The Korean firm held a launch event for its latest home appliances, including refrigerators and front-load washers, in Madrid, Spain last month. Spanish buyers look at Dongbu Daewoo Electronics’ refrigerator at the firm’s launch event held last month in Madrid, Spain. (Dongbu Daewoo)A fridge with a freezer on the top and a refrigeration compartment on the bottom especially attracte

Feb. 3, 2016

Haebora to release an earbud that “talks through the ear” in the U.S. next month

This month will see the release of a new earbud that “talks through the ear.” Haebora Co., Ltd., a corporation affiliated with the Gyeonggi Center for Creative Economy & Innovation, announced on January 29 that it will be officially releasing its latest product, RippleBuds, through Kickstarter (a U.S.-based crowdfunding platform for creative products) on February 23. Available in wired and wireless versions, RippleBuds is an earbud that features small speakers to transmit sound to the ears as we

Feb. 3, 2016

LG's first Super Bowl ad features Liam Neeson

LG Electronics on Tuesday unveiled online its first-ever Super Bowl ad, featuring actor Liam Neeson as a “mysterious man from the future.”The 60-second commercial, which will air during the Feb. 7 Super Bowl matchup on CBS, aims to promote the company’s flagship organic light-emitting diode, or OLED, TV.  In the ad, produced by the famous father-son team of Ridley and Jake Scott, Neeson travels to present day to help his younger self -- played by the actor’s real-life son Michael Neeson -- intro

Feb. 2, 2016

WeMakePrice outpaces rivals in unique visitor numbers

WeMakePrice, one of the nation’s top three daily-deal sites, said Tuesday the number of its unique visitors during the first three weeks of January outpaced those of rivals Coupang and Ticket Monster. Considering the tight race among the three companies in the fast-growing social commerce market, topping the visitor number is an important indicator of the site’s competitiveness, a company official said.  WeMakePrice CEO Park Eun-sangThe company added it posted a 50 percent growth in gross mercha

Feb. 2, 2016

Samsung, LG feel pinch as China scales back EV subsidies

Shares of Samsung SDI and LG Chem continued to struggle Monday for almost a month, with concerns growing over China’s subsidy suspension for electric buses powered by their batteries. LG Chem shares closed at 289,000 won ($240), down 2.20 percent from Friday, while Samsung SDI shares closed nearly flat at 93,500 won after fluctuations. In its latest move to gradually scale back subsidies for EVs, the Chinese government recently decided not to give subsidies for NCM or nickel-manganese-cobalt che

Feb. 1, 2016

[Photo News] LG Display pledges shared growth with suppliers

Feb. 1, 2016

Olympus launches new mirrorless camera

Camera-maker Olympus Korea unveiled the PEN-F, a mirrorless interchangeable-lens camera, in Seoul on Monday.The new camera was made in celebration of the 80th anniversary of the firm’s camera business. Olympus, which started as a microscope manufacturer in Japan in 1919, released its first camera in 1936. Models pose at the unveiling event of Olympus Korea’s PEN-F mirrorless camera. (Olympus)The Tokyo-headquartered firm started rolling out the PEN camera lineup in 1959, garnering popularity than

Feb. 1, 2016

SK hynix to launch handball team

Semiconductor manufacturer SK hynix said Monday it would launch a men’s handball team in a bid to contribute to the growth of the sport in the country.Since signing a sponsorship deal with the Korea Handball Federation, an umbrella association for handball, in 2007, SK Group, the parent firm of the chip company, has been supporting the sport in Korea. SK Group chairman Chey Tae-won　(Yonhap)SK Group chairman Chey Tae-won has served as the chief of the handball organization since 2009.The conglome

Feb. 1, 2016