SKT sells 200,000 smartphone projectors

South Korea’s largest mobile carrier SK Telecom said Wednesday that the sales of its portable projector for smartphones, Smart Beam, reached 200,000, a record high in the global market for pico projectors. Launched in February 2013, the cubical projector measuring at 4.5 centimeters has been released in 12 countries including China and Brazil and around 100,000 units were sold annually, according to the Korean telecom firm. “The Smart Beam, which is also being sold at in-flight duty-free shops o

May 13, 2015

Ericsson-LG bets big on cloud, IoT

Telecom equipment supplier Ericsson-LG said Wednesday that it would make all-out efforts to lead the next-generation network market, often called 5G, with its improved services and hardware.“Ericsson-LG’s efforts to complete the establishment of a networked society will produce meaningful results from this year,” said Martin Wiktorin, chief executive of Ericsson-LG, at a press meeting in Seoul, adding the company would transform itself into a leading software and services provider, contributing

May 13, 2015

Global accelerator invites Korean start-ups to Berlin

Apora Ventures, an Amsterdam-based start-up investment firm, is kicking off its operations in Seoul next month with a program inviting global-minded Korean start-ups to immerse their business in the European innovation and technology hotspot of Berlin.The program, Accelerate Korea-Berlin, will nurture five start-ups younger than 3 years old for a four-month acceleration program starting June 1, including spending three months in the German capital, where they will have opportunities to form part

May 13, 2015

Samsung to unveil new tablets

Global tech giant Samsung Electronics plans to unveil its new tablet PC lineup ― Galaxy Tab S2 8.0 and S2 9.7 ― next month, according to news reports.With powerful specifications for the new tablet PC models, including a 64-bit Exynos processor, 3 GB RAM and a Super AMOLED display, Samsung reportedly aims to outpace its arch rival Apple, the leader of the world’s tablet market. Analysts forecast, however, Samsung’s attempt to outgun Apple in the tablet PC market may be a long shot.“It is doubtfu

May 12, 2015

Olympus to build medical training center

Olympus, the Japanese maker of medical and surgical solutions, said Tuesday it will build a new medical training center in Songdo, Incheon, due for completion in February 2017. The Olympus Korea Training and Education Center aims to offer diverse training programs for health care professionals on the safe and effective use of the company’s innovative medical and surgical products, including its market No. 1 endoscopy equipment. With a budget of 36.3 billion won ($33.2 million), the new center is

May 12, 2015

Naver creates big data hub in Chuncheon

Naver Corp., South Korea’s No. 1 search engine, on Monday opened the nation’s 10th creative economy center in Gangwon Province with aims to create a big data hub for maximum use of digital information. The Gangwon Center for Creative Economy, located on a 1,267-square-meter site in the provincial capital of Chuncheon, is the latest in a series of government-supported regional offices helping to nurture start-ups and venture companies across industries.  “Big data is a new form of capital in the

May 11, 2015

Samsung pushes for global competitiveness

Chief executives of Samsung Electronics plan to work at the company’s overseas offices including those in Silicon Valley and New York on a regular basis, aiming to transform the Seoul-based tech giant into a truly global company.“The tech giant’s CEOs from next month will start working at one of the company’s overseas offices once every two or three months to better understand the global market trends,” a senior Samsung official was quoted as saying.Samsung Electronics, the world’s largest smart

May 11, 2015

Samsung heir faces leadership test

When Samsung Group chairman Lee Kun-hee was hospitalized after a severe heart attack on May 10 last year, the spotlight shone on his son Lee Jay-yong, vice chairman of Samsung Electronics.The 47-year-old junior Lee may have been groomed for succession during more than two decades at his father’s business empire. Still, the de facto leader of South Korea’s largest conglomerate was largely untested. The timing was also bad. The group’s flagship firm, Samsung Electronics, which generates more than

May 10, 2015

Samsung Group struggles to find new growth engine

With heir apparent Lee Jay-yong filling the management vacuum left by his ailing father, Samsung chairman Lee Kun-hee, South Korea’s largest conglomerate is trying to find new growth engines, acquiring foreign ventures at an increasing rate and jumping into new business areas.Since last May when its chairman was hospitalized due to a heart attack, Samsung has conducted eight mergers and acquisitions, almost equal to the combined number of M&As done by the conglomerate in 2012 and 2013.Many of th

May 10, 2015

Samsung pushes drive for management restructuring

The power succession from Samsung chairman Lee Kun-hee to his son Lee Jay-yong is underway through the conglomerate’s plan to strengthen the heir apparent’s governance of its major units. The restructuring plan started in earnest with the de facto holding firm Samsung Everland’s acquisition of the fashion business division of Cheil Industries in 2013, the remainder of which was taken over by battery-maker Samsung SDI in March 2014. Theme park operator Samsung Everland changed its name to Cheil I

May 10, 2015

Google launches venture incubator in Seoul

U.S. search giant Google launched its start-up incubator, dubbed Campus Seoul, in Korea on Friday, with aims to cultivate tech entrepreneurs in Asia and support their global success. The Seoul unit is the first of its kind in Asia and the third globally after London and Tel Aviv spaces. Google plans to open three more campuses in three cities ― Madrid, Sao Paulo and Warsaw ― in the second half of this year. “I appreciate Google has paid attention to the potential of Korean developers and venture

May 8, 2015

Samsung breaks ground on new chip line

PYEONGTAEK, Gyeonggi Province ― Samsung Electronics, the world’s top memory chipmaker, said Thursday it would start the production of semiconductors at a new plant from the first half of 2017. The global tech giant revealed the plan during its ceremony to break ground for its new semiconductor manufacturing line in Pyeongtaek, south of Seoul, on Thursday.Pinning high hopes on what will become the world’s largest chip-production plant, which will churn out more than 100,000 sheets of 12-inch wafe

May 7, 2015

Diversity missing in Korea’s creative economy drive

This is the first article in a series on foreigners working in Korea’s technology start-up ecosystem. ― Ed.With the world’s best broadband networks, global technology giants, game-crazy smartphone users and a hefty 4 trillion won ($3.7 billion) government budget to foster the local start-up ecosystem, Korea is building itself up to be the next major Asian tech hub. But on the ground level, financial, legal, language and cultural roadblocks in Korea are still pushing many foreign tech entrepreneu

May 7, 2015

[Newsmaker] KT unveils phone plans based on data

KT, the nation’s second-largest telecom carrier, on Thursday launched new service plans that charge users based on their data use while offering almost unlimited voice call and messaging services. This is an unprecedented phone plan in Korea where Internet-based communications are fast replacing traditional voice calls and text messages. Under the new scheme, the lowest-priced plan, 300 megabytes per month, is 29,900 won ($27.45) with free mobile calls. Those who pay more than 54,900 won per mon

May 7, 2015

[Graphic News] Korea slips in e-commerce index

South Korea’s rank in the Global Retail E-Commerce Index dropped to seventh place due to the economic slowdown, data showed Thursday.According to the latest index by global consulting firm A.T. Kearney, Korea’s rank slipped from fifth place in the previous year.The index analyzes nine indicators of e-commerce such as macroeconomics, consumers’ technology acceptance, shopping habits, e-commerce infrastructure and potential in 30 countries.The United States ranked first this year, followed by Chin

May 7, 2015

Korean gas stations to get world’s first IT fuel security module

Starting July, all newly-manufactured fuel dispensers in South Korea will be equipped with the world’s first IT module that monitors fuel flow in real-time via the Internet, as part of the government’s latest efforts to prevent gas stations from deceiving customers.Developed by the inspection research agency Korea Testing Certification, the security module, to be attached inside the meter, includes a specially-designed MicroSD card that compares the amount of fuel flowing out the dispenser with

May 7, 2015

[Photo News] Samsung's built in chef collection

Samsung Electronics home appliance division chief Yoon Boo-keun (second from left) and celebrity chefs pose with the company’s new Chef Collection built-in home appliances during a media event in Seoul on Thursday. The company aims to more than double its sales in the nation’s built-in market by 2018. (Samsung Electronics)

May 7, 2015