The Korea Herald

Investors rush for piece of Samsung SDS stocks

Tens of thousands of investors flocked Wednesday to place an early order for shares of Samsung SDS Co., an IT services unit of South Korean conglomerate Samsung Group, nine days before its debut on the main bourse. Earlier in September, the main local bourse Korea Exchange(KRX) gave its go-ahead for the IT solutions company's initial public offering (IPO), slated for Nov. 14. With an offering price set at 190,000 won (US$175.52), the IPO is anticipated to be the second-largest in the country t

Nov. 5, 2014

Challenges lie ahead for real-time flight data tracking

The International Telecommunication Union (ITU) took one step forward in aviation safety by supporting a resolution on real-time flight data tracking to prevent incidents like the missing Malaysian airplane, but challenges lie ahead over technology requirements and geopolitical risks, member states said Wednesday. The specialized United Nations agency for telecommunications last week passed a resolution to improve global flight tracking for civil aviation after a massive international hunt ha

Nov. 5, 2014

Samsung Electronics’ market cap shrinks through October

Samsung Electronics Co. saw its presence weaken in the South Korean stock market through October this year, data showed Tuesday, amid falling profits from its mainstay handset business. The smartphone-maker’s portion against the total value of the country’s main stock market fell 1.49 percentage points to 15.55 percent in the first 10 months of the year, according to the data compiled by the Korea Exchange, the local bourse operator. Although the tech firm managed to maintain its position as the

Nov. 4, 2014

‘Asia to take software crown from U.S.’

TAIPEI ― Asia will emerge as the hub of software development in the mobile world, replacing traditional powerhouses like the U.S., said Google executive chairman Eric Schmidt.“It should be possible for the next generation of software companies to emerge from Asia and they could transform from a regional champion to a global champion,” he said in a video conference at the Mobile First World, a global media conference, held in Taipei, Taiwan Tuesday. (from top) Chris Yerga, Eric Schmidt (Bloomber

Nov. 4, 2014

Samsung SDI, Sungrow agree to form energy storage venture

Samsung SDI said Tuesday that it would set up a joint venture with Sungrow Power Supply, a China-based inverter manufacturer, for energy storage systems in China next year.The South Korean IT materials giant and its Chinese partner finalized the decision on Tuesday to establish the ESS joint venture in the first half of 2015 following their initial agreement last August.The two companies will aim to build their presence in China’s ESS sector, which has become the world’s largest market amid the

Nov. 4, 2014

Samsung SDI, Sungrow agree to form energy storage venture

Samsung invests in virtual reality games

Samsung Electronics is said to be investing in virtual reality game developers to boost its fledgling VR business amid sluggish smartphone sales, industry sources said.The South Korean tech giant’s move comes as it needs to create an ecosystem for the Samsung Gear VR, which could be released as early as next month, by financially supporting and encouraging software developers to make game content.“Samsung is making investment in game companies with great ideas and content for the headset,” said

Nov. 4, 2014

Samsung invests in virtual reality games

Samsung turns to low-end smartphones to recoup profit drop

Samsung Electronics Co., the world's top smartphone maker, has stepped up its mid- to low-end lineups as part of a revamp to overcome eroding profit and stay atop in the global market against up-and-up Chinese rivals, analysts said Tuesday. The tech bellwether unveiled two mid-tier smartphones Galaxy A and A5 on Oct. 31 for a November launch in China, and other emerging countries to follow suit. The Galaxy A series touts a metallic exterior and comes in several different colors including p

Nov. 4, 2014

[Newsmaker] Telecoms face penalty over iPhone subsidies

South Korea’s three telecommunications companies are expected to again face punitive measures by communications regulators for allegedly providing subsidies over the legal limit for Apple’s iPhone 6 and 6 Plus.The new iPhone created a stir as soon as it hit Seoul last Friday, with die-hard Apple fans waiting in long lines in front of telecom retail stores in the wee hours to get their hands on the device.SK Telecom, KT and LG Uplus saw the new iPhone as an opportunity to shake things up in the t

Nov. 3, 2014

[Newsmaker] Telecoms face penalty over iPhone subsidies

Busan to grant honorary citizenship to new ITU chief

The Busan Metropolitan Government said Monday it would grant honorary citizenship to secretary-general-elect Zhao Houlin of the International Telecommunications Union.“Zhao has contributed to narrowing the digital divide in developing countries and has promoted international cooperation in the ICT sector,” a city official said. Busan is currently hosting the ITU Plenipotentiary Conference, which continues until Friday. Zhao HoulinThe 64-year-old was named as the new head of the ITU, becoming the

Nov. 3, 2014

Busan to grant honorary citizenship to new ITU chief

[Graphic News] Mobile subscribers drop

The number of South Korean subscribers to mobile communication services provided by three telecom companies stood at 50,700 on average per day last month, according to the ICT Ministry and the Korea Communications Commission.It dropped more than 24 percent from the previous month’s daily average of 66,900 following a new law governing the distribution of mobile devices and their subsidies, which took effect in October.The two agencies, however, said the mobile communication market was showing si

Nov. 2, 2014

Foreigners' Samsung ownership hits 8-year high

Foreign ownership of South Korean tech giant Samsung Electronics Co. has reached an eight-year high as overseas investors snap up its shares despite their overall selling mode on the local stock market, data showed Sunday.As of Friday, foreign investors held 52.33 percent of the top-cap company on the local bourse, the highest proportion since June 13, 2006, according to data from the Korea Exchange and financial sources.Last month, offshore investors bought a net 881.2 billion (US$825 million)

Nov. 2, 2014

Global ICT firms eye energy industry

With the rise of smart energy technologies ranging from smart bulbs to smart grids, nontraditional energy companies, especially from the information communication and technology sector, are increasingly turning their attention toward the energy market.Among those trying to gain a foothold in the energy market is LG Corp., which has a range of businesses including home appliances and electronics parts under its wing.The conglomerate’s electronics, battery and chemical business affiliates showed o

Oct. 31, 2014

KT’s Q3 net profit plunges 45.7%

KT Corp., South Korea’s second-largest mobile carrier, said Friday its net profit sank 45.7 percent in the third quarter from a year earlier, mainly dented by restructuring costs. The company, however, turned around from three consecutive quarters of net losses, paving the way for future upturns.Net profit came to 73.9 billion won ($70 million) in the July-September period, compared with 136.2 billion won the previous year, the company said in a regulatory filing. The result marks a turnaround f

Oct. 31, 2014

Apple CEO Cook comes out publicly as gay

Apple CEO Tim Cook came out publicly as gay Thursday, saying he is proud of his sexual orientation and considers it "among the greatest gifts God has given me." Cook made the announcement in an essay written for Bloomberg Businessweek. He is considered one of the highest-profile CEOs to come out as gay."For years, I've been open with many people about my sexual orientation. Plenty of colleagues at Apple know I'm gay, and it doesn't seem to make a difference in the way they treat me," Cook said i

Oct. 31, 2014

Samsung Q3 net hits 3-year low

Samsung Electronics Co., the world‘s top smartphone maker, said Thursday its third-quarter profit fell to the lowest in three years on waning sales of flagship smartphones, as it faces challenges ahead in competing with smaller Chinese startups and long-time rival Apple Inc. Net profit reached 4.22 trillion won ($4.01 billion) in the July-September period, down 48.7 percent from 8.24 trillion won the previous year, the company said in a regulatory filing. Operating profit plunged 60 percent on-y

Oct. 30, 2014

Google shows Jeju’s natural wonders

Google Cultural Institute director Amit Sood (second from left) poses with Jejudo and Google officials in front of an island map at an event promoting photographs of Jejudo’s historic sites and artifacts at the Jeju World Natural Heritage Center on Thursday. (Google)JEJUDO ISLAND ― Google has launched an online exhibition featuring high-resolution photographs of the volcanic island Jejudo’s cultural arts and archeological landscapes on the Google Cultural Institute platform.The search giant said

Oct. 30, 2014

Naver Q3 net almost doubles on chat app LINE

Naver Corp., South Korea’s top Internet portal operator, said Thursday its third-quarter net profit almost doubled from a year earlier as overseas sales, aided by its mobile messenger service LINE, sharply increased.Net profit reached 143 billion won ($136 million) in the July-September period, compared with 74.4 billion won a year earlier, the company said in a regulatory filing.Operating income came to 189 billion won during the third quarter, rising from 101 billion won the previous year.Sale

Oct. 30, 2014

LG Electronics creates new consumer values

Principal Awards/Gold PrizeLG ElectronicsI would like to express my deepest gratitude to The Korea Herald and consumers for having selected the advertisement for the LG DIOS Refrigerator featuring a water-and-ice dispenser as one of the winners of the paper’s 2014 Advertising Awards. Since the release of the refrigerator models that were equipped with the dispenser in 2013, LG Electronics has been rolling out a variety of models, including the bottom-freezer refrigerator, which was exceptionally

Oct. 30, 2014

LG Electronics creates new consumer values

[Newsmaker] New iPhones set to hit Korean shelves

The worldwide craze over the new iPhones will hit the South Korean market on Friday when the iPhone 6 and its variant the 6 Plus go on sale here. This time, the so-called iPhone effect will have a more significant impact on the Korean smartphone market than ever, according to industry watchers. The first round of preorders was filled last Friday by the mobile carriers SK Telecom, KT and LG Uplus in less than 30 minutes.It is estimated that the total number of preorders will reach at least 80,000

Oct. 29, 2014

[Newsmaker] New iPhones set to hit Korean shelves

Researchers find novel way to treat pulmonary arterial disease

A group of scientists from Korea and the United States have managed to find a new way to treat blockages in the artery that connects the heart and the lungs, officials said Wednesday.Professor Kim Jong-min from the department of biological science at Sookmyung University ― working with scientists from Yale University ― attempted to determine what caused pulmonary arterial hypertension, a disease characterized by increased pressure in the pulmonary artery. The disease, leading to a compromised ca

Oct. 29, 2014