KT unveils biz roadmap for 5G-powered smart factories

 South Korea’s major mobile carrier KT on Thursday pledged to expand its network business with local corporations, with a focus on incorporating the 5G cellular network into manufacturing processes. During a press conference in downtown Seoul, KT said it would encourage local companies to adopt the 5G network in their factories and take advantage of smart factory solutions. The company vowed to expand its 5G business beyond commercial services for general consumers and to focus on sma

May 30, 2019

Huawei holds 5G lab launch event in Seoul with minimal fanfare

　Chinese tech giant Huawei’s event to promote its fifth-generation cellular network to South Korean customers this week remained low-key, with participation centered around smaller companies.　Huawei on Thursday held the celebration for the launch of its world’s first 5G open lab in Junggu, central Seoul. The company had decided to proceed with the ceremony despite the US pressure on its business in South Korea. 　 While SK Telecom and KT said they did not send

May 30, 2019

USITC decides to open probe amid fierce rivalry among Korean battery makers

The United States International Trade Commission on Thursday announced its decision to institute an investigation into a complaint filed by South Korea’s LG Chem against its domestic rival SK Innovation over alleged misappropriation of trade secrets involving lithium-ion battery technologies. The decision highlights the rivalry among three Korean battery makers, including Samsung SDI. Competition has grown fiercer in the past couple of years, as the global electric vehicle market is set to

May 30, 2019

LG starts producing washers at Tennessee plant to minimize US tariff impact

LG Electronics said Thursday it has completed its new plant for washing machines in Tennessee, the United States, and will start producing 1.2 million washers annually for the American market.The South Korean electronics manufacturer held a ceremony to mark the completion in Clarksville, Tennessee, attended by US Rep. Mark Green, State Gov. Bill Lee, Montgomery County Mayor Jim Durrett, Clarksville City Mayor Joe Pitts and other Korean government officials. LG will move forward to December full

May 30, 2019

LG V50 ThinQ leads Korea’s 5G smartphone market

LG Electronics’ V50 ThinQ is leading the 5G smartphone market in South Korea with high popularity for the dual screen phone’s powerful multimedia features, the company said Wednesday.An initial volume of 100,000 V50 ThinQ phones were sold out since the device’s launch on May 10, and sales are continuing to rise, it said.Instead of a foldable screen smartphone, LG chose to offer a flip-cover dual display form factor for more powerful multimedia experiences on the high-speed netw

May 29, 2019

Moblie carriers turn to K-pop idols to boost 5G popularity

As South Korea’s mobile carriers focus on expanding the commercial use of 5G cellular network services since their launch last month, K-pop idols have emerged as an attractive draw to boost the popularity of 5G among consumers. 　SK Telecom, KT and LG Uplus are introducing various services that allow subscribers to enjoy K-pop in an optimal environment by combining virtual reality technology with the hyperspeed network in a way that totally transforms the experience. 　Given the growing appe

May 29, 2019

Huawei says it will keep 5G event in Seoul low profile amid controversy

　With confrontation between the Trump administration and Huawei showing no signs of abating, the Chinese tech giant has pledged to go ahead with its plan to celebrate the launch of a fifth-generation network research center in Seoul on Thursday. 　According to Huawei Korea on Tuesday, the company will hold an opening ceremony for the research center as scheduled. The event is expected to take place at Huawei Korea’s headquarters in Jung-gu, central Seoul. 　But the company said it would keep

May 28, 2019

Samsung Galaxy Fold launch likely to be delayed again

Samsung Electronics seems to be taking more time than expected to fix flaws in the main display of its first foldable smartphone Galaxy Fold, according to industry sources Tuesday. It has been more than one month since the South Korean tech giant officially announced the postponement of the foldable device’s launch in the United States, but it keeps maintaining that a new schedule will be announced in “coming weeks.” Some telecom officials say that the launch is likely to take

May 28, 2019

Bitcoin extends rally amid economic uncertainties, entry of tech firms

 　As Bitcoin continued to extend its rally in South Korea with the price topping 10 million won ($8,400) for the first time since last year, analysts are scrambling to figure out what caused the world’s biggest cryptocurrency to suddenly recover. 　According to Seoul-based cryptocurrency exchange Upbit, Bitcoin was priced at 10.4 million won per coin as of 2 p.m. on Tuesday. The figure was 0.3 percent up from the previous day when it recovered to the 10-million-won range for the first

May 28, 2019

Samsung SDS signs strategic partnership with Vietnamese firm

Samsung SDS announced Sunday its strategic investment in Vietnamese information technology services company CMC. The IT unit of South Korea’s major conglomerate group signed a principle agreement that allows it to make major decisions in CMC’s management.  CMC specializes in system integration, software development, cloud computing and IT infrastructure management. It has previously worked with Samsung SDS for smart factories and cybersecurity.Samsung SDS said it will be a strat

May 27, 2019

South Korea fears collateral damage from US-Huawei fight

 　With the US government ramping up pressure on its allies to reject Huawei Technologies equipment for its 5G cellular networks, South Korea is struggling to come up with a response amid the escalating conflicts between the world’s two superpowers. 　The Trump administration has reportedly urged the Korean government to prevent companies from purchasing Huawei’s equipment. Citing LG Uplus as an example, an unnamed State Department official has demanded a halt to the mobile carrie

May 27, 2019

SK Innovation brushes off LG Chem suit, pushes for battery biz

SK Innovation, South Korea’s top oil refiner and third player in the electric battery market, announced Monday the company will expand its EV battery production capacity 20-fold by 2025, shrugging off concerns about a legal issue raised by competitor LG Chem. During a press conference on the firm’s growth plan, SK Innovation CEO Kim Jun said the company was planning to ramp up its annual battery output from the current 5 gigawatt-hours to 100 GWh by 2025 with an aim to maintain its o

May 27, 2019

GS Home Shopping invests $1.2m in Vietnamese home-sharing startup

GS Home Shopping, a leading home shopping channel operator here, said Sunday that it has invested $1.2 million in Luxstay, a Vietnamese home-sharing platform that targets the Southeast Asian market.The deal marks GS Home Shopping's second such investment in an e-commerce startup based in Vietnam. In January this year, the South Korean company invested $3 million in another e-commerce venture firm, Leflair, which focuses on premium-branded products for women, men, children and homes.Vietnam, one

May 26, 2019

Exit Daejeon announces W14.2b startup funding agreement

DAEJEON -- Startups from across South Korea, global startup community leaders and representatives of Daejeon Metropolitan City flocked to Daejeon Convention Center Thursday to mark the end of the three-day Exit Daejeon 2019 event. Located some 140 kilometers south of Seoul, Daejeon served as a venue where local startups were given an opportunity for more international exposure. In the meantime, global startup community organizers like Slush and Junction, as well as early-stage startup investors

May 23, 2019

Naver chooses 4 Asian countries as outposts for V Live service expansion

 　South Korean tech giant Naver said Thursday it will focus on four Asian countries in expanding its K-pop livestreaming service, as part of efforts to boost its global profile starting with the region with better business outlook. 　During a press conference in central Seoul, Naver V Live’s chief Park Sun-young said it had chosen Vietnam, Indonesia, Thailand and Japan as strategic countries for expansion and would encourage local pop stars and influencers to participate in the V Live

May 23, 2019

Seoul to become first global city to use 5G network in public transit

　Following hype over how to incorporate the fifth-generation network into autonomous driving since the network began commercial service here last month, the initial step toward the futuristic goal is expected to take off in Seoul later this year. 　South Korea’s biggest mobile carrier SK Telecom and Seoul City government said Thursday they have agreed to develop 5G-based maps for self-driving. By the second half of this year, 1,700 vehicles will be used to create a map by providing real-tim

May 23, 2019

Samsung to gain in short term from Trump-Huawei standoff: analysts

With the Trump administration banning Huawei from selling technology to the US market, and its suppliers cutting ties with the Chinese firm, South Korean companies are scrambling to figure out how the confrontation will impact their business outlook. Following an executive order that allows the US government to block purchases of what it deems to be security-threatening technology, Google has pulled Huawei’s license to access the Android operation system. The Department of Commerce so

May 22, 2019

European nations pitch to attract Korean startups at EXIT Daejeon 2019

European countries pitched to attract South Korean startups during an event held at the Global Startup Festival Daejeon 2019 on Wednesday. During a sideline event called Startup Talk Concert with Foreign Embassies, officials from Finland, the Netherlands and Australia said their governments and private sector are putting a lot of efforts to nurture domestic and overseas startups. “The Australian government is putting more emphasis on startups as the country shifts from coal and mining

May 22, 2019

QLED TV leads growth of global TV market in Q1

Quantum-dot light-emitting diode TVs led growth in the world’s premium TV market in the first quarter of this year, in contrast to organic light-emitting diode TVs, according to market data on Wednesday. Data compiled by IHS Markit showed that a total of 912,000 QLED TVs were sold in the January to March period, increasing 2.5-fold from 367,000 units in the same period last year. Samsung Electronics spearheaded growth in QLED TVs by selling 896,000 units, a threefold increase from a year e

May 22, 2019

[Herald Interview] The Shortcut to train talent from diverse backgrounds

DAEJEON -- Established in January, 2016, The Shortcut, a community-based Finnish organization, has been offering pro-bono training programs for people with diverse backgrounds, including refugees, immigrants, and multicultural youth, to help them get a breakthrough in the technology sector.While nurturing people to have skill sets, the organization also helps quench the thirst for skilled personnel in the startup world. “What we do is accelerate people from diverse backgrounds to thin

May 22, 2019