Naver CEO apologizes for providing favors to children of top officials

Naver CEO Han Seong-sook apologized on behalf of the company for providing favors to the children of South Korea’s top legal officials including the daughter of former Senior Prosecutor Jin Kyung-joon, who is currently serving jail time for accepting bribes.　Naver shared a public apology from the incumbent CEO on its official blog Naver Diary following news reports that the company had unfairly provided favors and opportunities to Jin’s daughter.“Naver provided unofficial favors such as a free p

Sept. 14, 2017

Kakao, Samsung team up in AI sector

South Korea's top mobile messenger operator Kakao Corp. said Thursday it has partnered with tech giant Samsung Electronics Co. in the artificial intelligence sector to tap deeper into the burgeoning industry.Kakao I, the company's AI platform, will be integrated with Samsung's voice recognition program, Bixby, to allow more users to better experience the technology, Kakao said. "The cooperation with Samsung Electronics shows that Kakao's service has a competitive edge and the potential growth of

Sept. 14, 2017

Bain, SK hynix back in running to buy Toshiba chip unit

Japan’s Toshiba is leaning back toward a global consortium that includes South Korea’s SK hynix in the bidding for its memory chip business, the company announced Wednesday. Toshiba’s board of directors on Wednesday signed a memorandum of understanding with the consortium led by US private equity group Bain Capital and technology giant Apple, Development Bank of Japan and Korean chipmaker SK hynix.“Toshiba’s board of directors has determined to continue negotiations with the Bain-led consortium

Sept. 13, 2017

[Newsmaker] Naver, Kakao compete to secure more AI speaker purchases

South Korea’s two biggest IT companies are ramping up efforts to achieve more preorders for their artificial intelligence-powered smart speakers that are slated to hit shelves here soon, with aims to dominate the nascent market. Naver, the operator of Korea’s biggest portal website, and Kakao, which runs the country’s most widely used mobile messenger KakaoTalk, are slated to launch voice-activated standalone speakers here in the coming months.Globally, the smart speaker market is dominated by f

Sept. 13, 2017

SKT to export AI solution to India

South Korean mobile carrier SK Telecom will export its artificial intelligence network solutions to India’s Bharti Airtel, marking the company’s biggest foreign project, it announced Wednesday. The two telecoms signed a strategic partnership to transfer AI technologies and solutions in San Francisco, where heads of global mobile carriers have gathered to attend the Mobile World Congress America. Under the partnership, SKT will apply its AI network solution to the nationwide telecommunication net

Sept. 13, 2017

LG Electronics to receive preorders for V30 smartphone this week

LG Electronics Co. said Wednesday that it plans to start accepting preorders for its new flagship smartphone, the V30, ahead of the official release slated for later this month.Customers who make preorders through the country's mobile phone operators from Thursday to next Wednesday will get the new smartphone starting Sept. 21, the consumer electronics giant said.The company finalized the price tag of the base 64 gigabyte V30 at 949,000 won ($841) and the 128 gigabyte version at 998,000 won.Late

Sept. 13, 2017

Apple unveils iPhone X with new display as rivals grow

Apple Inc. unveiled its most important new iPhone for years to take on growing competition from Samsung Electronics Co., Google and a host of Chinese smartphone makers.Chief Executive Officer Tim Cook showed off the iPhone X with an edge-to-edge screen during an event at the company’s new $5 billion headquarters in Cupertino, California, on Tuesday. Cook pronounced the name "ten," but it’s written as "X." The device, coming a decade after the original model, is Apple’s first major redesign since

Sept. 13, 2017

Samsung SDI showcases EV batteries at Frankfurt Motor Show 2017

Samsung SDI introduced its multipurpose batteries at the Frankfurt Motor Show 2017 held in Germany, the company said Tuesday. The newly invented battery modules provide extended driving ranges for electric vehicles.  (Samsung SDI)A premium electric vehicle with 20 modules can drive up to 700 kilometers, while an entry level electric vehicle with 10 to 12 modules can drive up to some 300 km, the company said. Automakers can change the number of modules to be installed in different car models. Sam

Sept. 12, 2017

Samsung aims to launch foldable device next year: CEO

Samsung Electronics aims to introduce a smartphone with a foldable display next year, Koh Dong-jin, CEO of the firm’s smartphone business announced Tuesday.At a press conference held three days before the release of the latest Galaxy Note 8 smartphone in Korea, Koh said Samsung has clear roadmaps for the innovation of its smartphone series -- the Galaxy S and Note -- and a foldable type is to be included in one of the series. “We have a plan to adopt a foldable display in our roadmap,” Koh said.

Sept. 12, 2017

Samsung mobile chief confident of Galaxy Note 8 success

Preorders for Samsung Electronics Co.'s latest high-end smartphone, the Galaxy Note 8, reached the highest-ever among its Note line, its chief of mobile communications said Tuesday, expressing confidence that the premium device will be very successful.Koh Dong-jin, president of Samsung Electronics, said the combined preorders for its Galaxy Note 8 in South Korea topped 650,000 units in just five days, far outpacing its predecessor.The figure dwarfed numbers for the ill-fated Galaxy Note 7, which

Sept. 12, 2017

[Newsmaker] Korea’s FTC head faces flak for calling Naver founder ‘visionless’

The chief of South Korea’s antitrust watchdog, who built his reputation as a “chaebol sniper,” is facing flak from local IT industry leaders after calling Naver founder Lee Hae-jin a figure who “lacks vision for the future,” unlike Apple founder Steve Jobs. 　　Fair Trade Commission Chairman Kim Sang-jo criticized the Naver founder, who he had recently met over the Korean internet giant’s listing on a new corporate watch list, in a recent interview with local newspaper Kookmin Ilbo. 　“A company of

Sept. 11, 2017

Samsung strengthens foundry with 11-nm, 7-nm

Samsung is moving to strengthen its foundry business by adding a new 11-nanometer FinFET process technology and developing the industry’s first 7-nm process tech, the company announced Monday. By adding the 11-nm FinFET process, Samsung now has wider range of options for their next-generation products in terms of cost effectiveness. Also known as the 11 Lower Power Plus (11LPP) process, the cutting-edge tech delivers up to 15 percent higher performance and 10 percent chip area reduction with the

Sept. 11, 2017

LG OLED TV wins positive responses in US, Europe

LG Electronics Inc.'s high-end organic light-emitting diode TV products have won positive responses from American and European consumer magazines, industry sources said Monday.The LG OLEDB7V model, a 65-inch OLED UHD TV, made by the South Korean home appliance giant has topped evaluations conducted by leading consumer magazines from nine European countries, including Italy-based Altroconsumo, Germany-based Stiftung Warentest, France-based Que Choisir and Spain-based OCU, they said. (Yonhap)The U

Sept. 11, 2017

Samsung Electronics' earnings may beat market expectations in Q3: observers

Samsung Electronics Co., the world's largest producer of memory chips and smartphones, may beat market expectations and post earnings growth in the third quarter despite earlier predictions of adjustments, market watchers said Sunday.Forecasts for a leveling off are centered on expectations that prices of both liquid-crystal displays and organic light-emitting diodes will fall due to current market conditions. Observers had said Samsung could experience almost no growth because its second quarte

Sept. 10, 2017

LG seeks edge in smartphone market with price competitiveness

LG has reportedly decided to take a different path with its latest smartphone in the hope of gaining an edge in price competitiveness, amid heated competition in the industry with Samsung and Apple unveiling their latest products. According to sources in the telecom industry, LG Electronics will offer its latest V30 smartphone for under 1 million won ($882.6). The 64-gigabyte model will cost 949,300 won, while the 128-GB model will be priced at 998,800 won. It had been expected that the V30 woul

Sept. 10, 2017

First US FDA approval of CAR-T therapy hikes expectations for Korean biotech ventures

The US Food and Drug Administration’s first approval of a CAR-T cell therapy is raising market expectations for South Korean biotech ventures that are currently working to develop similar cellular immunotherapy drugs for cancer.　On Aug. 30, the US drug regulator approved Novartis’ Kymriah, a CAR-T cell therapy that genetically alters a patient’s own immune cells into a “living drug” that is trained to recognize and attack cancer cells in the blood.It is the first CAR-T -- short for chimeric anti

Sept. 10, 2017

[Health-tech Korea] Keeping one's heartbeat on a finger

The Korea Herald is publishing a series of articles highlighting South Korea’s promising startups in the emerging sectors of digital health care and next-generation medical devices. This is the 12th installment. - Ed.One of the most common yet underdiagnosed diseases affecting older adults is atrial fibrillation -- an irregular heart rhythm that can cause blood clots, leading to potentially fatal complications including heart failure or a stroke.Some 150 million people worldwide are said to be s

Sept. 10, 2017

Samsung releases 5-door fridge with easier access to on-the-go items

Samsung Electronics Co. said Sunday it has introduced a five-door refrigerator that provides easy access to on-the-go items.The H9000 fridge, updated from the more conventional two-door refrigerator, allows users instant access to drinks and condiments while letting them store large and fresh food items in an inner space, Samsung said on its website.  (Yonhap)"Perfect for frequently used items, this refrigerator lets you easily organize your food by type or family member," it said.The new fridge

Sept. 10, 2017

Samsung says Galaxy Note 8 preorders setting new records in US

Samsung Electronics Co. said Sunday that preorders for its Galaxy Note 8 are setting new records in the United States.The world's largest manufacturer of smartphones said orders received since Aug. 24 are the highest tallied to date for its premium phablet Note line.The company did not disclose exact numbers citing policy but said it was buoyed by the consumer response after the debacle of the previous year's Note 7 that was taken off the shelves completely after some caught fire while being rec

Sept. 10, 2017

UberEATS finds big potential in Korea food delivery market

UberEATS, a food delivery service app run by ride-sharing pioneer Uber Technologies Inc., finds big growth potential in South Korea's food delivery market due to its advanced wireless networks and growing orders on mobile phones, a senior company executive said.The US-based business launched its UberEATS service in Seoul a month ago, bringing the service to 112 cities across 28 countries, where it has 60,000 restaurant partners.  "Seoul is a perfect place for UberEATS. We find South Korea's fast

Sept. 10, 2017