[Herald Interview] ‘Success of Korea’s Digital New Deal depends on connectivity, cloud, IT talent’

Ever since the emergence of the internet, digitalization has been a popular catchphrase. Yet, it is an elusive goal for many, as nearly half of the world’s population remain unconnected. South Korea, one of the most wired countries in the world and the first country to roll out the next-generation 5G networks, has set digitalization as its new goal, seeking to invigorate its pandemic-hit local economy with the “Digital New Deal.” An executive of Cisco -- a US tech fi

April 15, 2021

S. Korean telcos to share 5G networks in remote areas

South Korea's three major mobile carriers will share their 5G networks in remote coastal and farm towns in a move to accelerate the rollout of the latest generation networks, the ICT ministry said Thursday. The carriers -- SK Telecom Co., KT Corp. and LG Uplus Corp. -- signed an agreement so that 5G users can have access to the high-speed network regardless of the carrier they are subscribed to in 131 remote locations across the country, according to the Ministry of Science and ICT. Under the

April 15, 2021

SK Telecom spinoff to carve out holding company for non-mobile affiliates

SK Telecom, South Korea‘s largest mobile carrier, said Wednesday it will set up a new holding company for its non-mobile subsidiaries to boost shareholder value and accelerate growth in its businesses. The telecom operator said in a regulatory filing that it will conduct a spinoff to form the holding company, which will oversee operations of its tech affiliates and subsidiaries, such as memory chip giant SK hynix, e-commerce firm 11Street and ride-hailing company T Map Mobility, among o

April 14, 2021

Experts call for ‘effective’ national plan on chips

After witnessing US President Joe Biden hold up a silicon wafer in front of the world’s chip industry leaders, including Samsung Electronics, calls are growing in South Korea that its leader, too, should act to help safeguard Korean chipmakers from an unfolding global war for chips. Despite Korea’s unchallenged position in the global memory chip market, industry officials and pundits worry the country could fall victim to the global power struggle between the US and China, and co

April 14, 2021

Hanwha Techwin launches AI-powered security cameras to flag social-distancing violations

South Korean surveillance technology provider Hanwha Techwin on Wednesday introduced artificial intelligence-based security cameras that can detect social-distancing violations automatically. According to the security camera subsidiary under Hanwha Aerospace, the AI solution monitors whether social-distancing measures are being followed on a real time basis and send written alarms on monitors or audio alarms through speakers if it detects violations. “When users set social-distancing

April 14, 2021

Mobility firms invested by SK Holdings prepare for IPOs

SK Holdings’ equity investment in Grab, the Southeast Asian equivalent to Uber, is receiving attention as the ride-hailing app prepares for an initial public offering on the tech-heavy US bourse Nasdaq. According to the investment-focused holdings firm of SK Group, the Singapore-based startup behind the ride-hailing and food delivery app is planning a floatation via a special-purpose acquisition company, or SPAC. Grab’s market value is estimated at around $39.6 billion after it

April 14, 2021

Google Korea's 2020 revenue hits W220b

Google Korea saw its revenue reach more than 200 billion won ($178.65 million) last year in the first disclosure of its financial statement in the country, a regulatory filing showed Wednesday. Google Korea, which operates under Google International LLC, said in the filing that its sales stood at 220.14 billion won last year, up 3.66 percent from the previous year, while operating profit reached 15.59 billion won, up 52.95 percent over the same period. The company said most of its sales came f

April 14, 2021

Chubb launches Chubb LifeBalance, a 360-degree health and well-being app

Chubb has released Chubb LifeBalance in Korea, a 360-degree personalized and well-being application that encourages people to incorporate healthy routines into their lifestyle. Chubb LifeBalance comprehensively assesses the lifestyle of users and provides a holistic view of health to help them to objectively measure and manage their own health condition. It tracks and records over 115 different activities, including yoga, swimming, boxing and meditation, and lets users invite their friends an

April 14, 2021

Samsung to introduce new Galaxy laptops this month

Samsung Electronics Co. is expected to introduce new Galaxy laptops later this month as the South Korean tech giant eyes to expand sales of notebooks amid the pandemic-induced stay-at-home trend. Samsung on Wednesday sent media invitations to its Galaxy Unpacked online event scheduled to take place on April 28, saying "Discover the most powerful Galaxy yet." Samsung, the world's largest smartphone producer, did not reveal which products will be unveiled at the event, but industry obs

April 14, 2021

Pressure on Samsung as Biden says he wants plants in US, not China

It’s official: US President Joe Biden wants semiconductor chips to be produced in his own country, not China, posing a dilemma for foreign chipmakers such as Samsung Electronics, which are torn between two strategically important markets. Samsung, the only South Korean participant in Monday’s White House meeting on chips, is the world’s No. 1 producer of memory chips used in computers, smartphones and a growing list of smart devices. It is the world’s No. 2 in the found

April 13, 2021

No Novavax shots until safety proven: government

South Korea has cleared potential roadblocks for the local production of Novavax’s COVID-19 vaccine, but it will have to wait until the drug’s safety is proven, government officials said Tuesday. “We’re not considering putting (Novavax shots) to use prior to the authorization process,” Baek Young-ha, who is in charge of the government’s vaccine procurement, told a press briefing Tuesday. The official also sought to clarify an earlier comment by Health Min

April 13, 2021

Samsung expands dominance in smartphone memory market in 2020: report

Samsung Electronics Co. expanded its dominance in the global smartphone memory market in 2020, a report showed Tuesday, as it represented nearly half of the industry. Samsung, the world's largest supplier of DRAM and NAND chips, accounted for 49 percent of the global smartphone memory market last year, up 2 percentage points from a year earlier, according to a report from industry tracker Strategy Analytics. Samsung was followed by its smaller South Korean rival SK hynix Inc. with a 21 perce

April 13, 2021

Samsung, LG among top 5 players in Europe's smart home market in Q4: report

South Korea's two major electronics firms -- Samsung Electronics Co. and LG Electronics Inc. -- were among the top five players in the European smart home market in the fourth quarter of last year, a report showed Tuesday, as they push to increase connected devices amid the pandemic-induced stay-at-home trend. Samsung was the third-largest vendor of smart home devices, including smart TVs, smart speakers, thermostats and home security products, in Europe after shipping 4.91 million units in th

April 13, 2021

Netflix's 2020 revenue more than doubles in S. Korea

Netflix saw its revenue more than double in South Korea last year as the video streaming giant enjoyed rapid user growth amid the pandemic, its filing showed Tuesday.  Netflix Services Korea Ltd.'s sales last year stood at 415.45 billion won ($356 million), up 123.5 percent from the previous year, while operating profit reached 8.82 billion won, up 295 percent over the cited period, according to the filing. Most of the company's sales last year came from user streaming fees, which stood

April 13, 2021

Samsung maintains 2nd spot in chip revenue behind Intel in 2020: data

Samsung Electronics Co. maintained the status as the world's second-largest semiconductor vendor by revenue last year, industry data showed Tuesday, amid rising demand of memory products on the back of the pandemic-induced stay-at-home economy. Samsung's chip business logged $57.7 billion in revenue last year, up 10.2 percent from a year earlier, to capture 12.4 percent of the global semiconductor market, according to data from US-based research firm Gartner. Intel Corp. defended its top pos

April 13, 2021

South Korea pays keen attention to upcoming US semiconductor bill

The South Korean government and experts in the semiconductor industry are paying close attention to a meeting hosted by the White House on Monday in the US.  According to Seoul-based government officials and industry experts, concerns exist about recent moves by the US government to reinforce its chip industry in terms of Korea’s industrial competitiveness and Korean chipmakers’ global operations.  The moves by the Biden administration -- the review of America’s sem

April 12, 2021

Institut Pasteur Korea partners with Genexine for global clinical trials of COVID-19 vaccine

Institut Pasteur Korea announced Monday that it had signed an agreement with Genexine to offer support for the latter’s global clinical studies of COVID-19 vaccine candidate GX-19N. IPK said it would help Genexine conduct clinical studies of GX-19N and examine the efficacy of GX-19N against COVID-19 variants. According to Genexine, the vaccine candidate, which contains an antigen targeting the coronavirus’ nucleocapsid protein, is potentially effective against COVID-19 variants.

April 12, 2021

Samsung BioLogics, Kakao and Hyundai Motor compete to join KOSPI's top 5 club

Samsung BioLogics, Kakao and Hyundai Motor are competing to be the fifth-largest company in terms of market capitalization in South Korea. According to Korea Exchange on Monday, Samsung BioLogics is currently holding fifth place on the country’s main bourse Kospi, with a market cap of 51.7 trillion won ($45.9 billion). Kakao and Hyundai Motor closely follow with 49.5 trillion won and 48.2 trillion won, respectively. Competition for the fifth spot has recently escalated after Kakao&rsqu

April 12, 2021

SK Telecom launches AR app in US

SK Telecom Co., South Korea's largest mobile carrier, said Monday it launched its augmented reality (AR) app in the United States as it seeks widespread adoption of the immersive technology. The mobile carrier said it released its Jump AR app, previously only available in South Korea and Hong Kong, on Google's Play store in the United States, allowing American Android users to experience its mixed reality content, such as taking photos with celebrity avatars. SK Telecom said it also released a

April 12, 2021

SK Innovation reaches W2tr settlement in battery row with LG Energy Solution

South Korean battery rivals LG Energy Solution and SK Innovation reached a 2 trillion won ($1.78 billion) settlement in their two-year-long legal dispute over battery technologies, the two companies announced Sunday. SK will pay 1 trillion won in cash and 1 trillion in royalties to the rival as compensation for its theft of lithium-ion battery technologies. LG, in exchange, will drop all legal action against SK both in Korea and abroad. This allows SK to avert a punishment by a US court that w

April 11, 2021