SKT profit tumbles 10 percent on slowing growth

South Korea’s No.1 mobile carrier SK Telecom’s operating profit tumbled around 10 percent last year due to soaring costs amid a sluggish growth in the telecommunication industry, according to its corporate earnings announcement on Friday. SKT reached 17.09 trillion won ($14.9 billion) in revenue on a consolidated basis in 2016 and 1.54 trillion won in operating profit. While the revenue slipped 0.3 percent on-year, the profit slid 10.1 percent, reflecting a rise in depreciation expenses incurred

Feb. 3, 2017

Kakao Corp. to open map tool to game developers

Kakao Corp., an internet company that operates the country's top mobile messenger KakaoTalk, said Friday it will provide its map tools to local game developers from the first half of this year to help them produce a megahit like Pokemon Go.The move was disclosed by Namkoong Whon, the company's chief game officer, through Facebook.   Namkoong Whon, chief game officer at Kakao Corp. (Yonhap file photo)Kakao "will provide the software development kit so that the developers can use Kakao Map to more

Feb. 3, 2017

Problems abound as ‘Pokemon Go’ craze grips Korea

The “Pokemon Go” craze that has swept through South Korea has ignited various safety problems, with reports of players entering dangerous situations in order to catch virtual characters that appear in the game. 　The hit augmented reality mobile game, which involves people visiting real-life locations to catch “Pokemon” on their smartphones, has led to potential accidents and even the arrest of some players who were caught trying to trespass in closed parks and other facilities at night.　Co-devel

Feb. 2, 2017

LG Uplus achieves balanced growth in 2016

South Korean mobile carrier LG Uplus achieved around 18 percent growth in operating profit last year, owing to increased profits from both mobile and broadband internet businesses, it said on Thursday. The third largest in the Korean telecommunication industry, the company reached 9 trillion won ($7.8 billion) in sales, up 4.3 percent from a year earlier, and 746.5 billion won in operating profit.  (LG Uplus)The net profit jumped 40.3 percent to 492.7 billion won, which had the company’s board r

Feb. 2, 2017

Google Chrome to support Korea’s Hancom Office

Google Korea announced Thursday it is working to introduce a new viewer function that lets users directly view documents from Hancom Office, the South Korean equivalent of Microsoft Word, on its web browser Chrome.The US internet giant is currently conducting tests on a new viewer function that lets Chrome users open .hwp format documents in the browser. The firm has yet to determine exactly when the new feature will be added, Google Korea said.Chrome currently allows users to open and view Micr

Feb. 2, 2017

Samsung Pay Mini to intensify online payment market

Samsung Electronics’ plan to launch Samsung Pay Mini in Korea is expected to intensify online payment competition with local internet and mobile giants Naver and Kakao. Samsung said Thursday it would “launch Samsung Pay Mini in March to enable Android users to pay online with the app.”It allows users to conveniently pay online with their credit card information saved via a smartphone running on Android 5.0 Lollipop and with a high definition display. Since the app does not support magnetic secur

Feb. 2, 2017

Naver’s Papago to help police communicate with foreigners

South Korean internet giant Naver said Wednesday that it has entered a partnership with the Seoul Metropolitan Police Agency, agreeing to help the public agency communicate more effectively with non-Korean speakers.　The two have signed a memorandum of understanding, under which Naver has introduced a new section on its translation app Papago that provides translations of common Korean phrases that the local police use to carry out their duties.(Naver)Launched in August 2016, Naver’s Papago is a

Feb. 1, 2017

[Herald Interview] Mosaicoon out to revolutionize video marketing

We’ve all been there. Waiting to binge watch fun videos on YouTube, we’ve zoned out while enduring a painful 15-second commercial and clicked the “skip ad” button as soon as it appeared.　What does this say about today’s digital consumers? It means a lot of people love to watch online videos that are interesting or relevant but they will shut off videos they dislike or have no interest in – which means most corporate advertisements on the web.　Eyeing the rise of online video and relevant consumpt

Feb. 1, 2017

Samsung to unveil Galaxy Tab S3 at MWC

Samsung Electronics sent out press invitations Wednesday to showcase its new tablet Galaxy Tab S3 at the upcoming Mobile World Congress. According to the invitation, Samsung said it would unveil its new product at the Samsung Press Conference to take place in Barcelona on Feb. 26, a day before the MWC’s opening ceremony. Although Samsung did not elaborate on details of its new product, the photo attached showed the bezel in the bottom of the tablet and the contour of the home button, indicating

Feb. 1, 2017

LG Chem to up production of carbon nanotubes

LG Chem aims to become the world’s fourth largest producer of carbon nanotube in 2018 with the production capacity of 400 tons, the company said on Tuesday. The Korean battery firm said it has invested 25 billion won ($21 million) in its carbon nanotube plant located in Yeosu city to initially produce around 100 tons this year and then 400 tons every year from 2018. Carbon nanotube, a tube-shaped material made of carbon, is used for secondary batteries, airplane bodies, car parts and semiconduct

Jan. 31, 2017

Naver to focus R&D on autonomous vehicles, car sharing business

South Korean internet giant Naver said Tuesday that its research and development subsidiary Naver Labs will speed up efforts to develop new technologies for the autonomous vehicles and car sharing businesses.　Naver Labs — which became an independent company from Naver in early January — has included “car components manufacturing and service” as well as “car sharing” to its articles of association which outlines the new firm’s purpose and duties, Naver said.The Naver headquarters in Pangyo (Naver

Jan. 31, 2017

KT CEO Hwang reappointed, faces governance challenges

KT’s board of directors approved the reappointment of CEO Hwang Chang-gyu on Tuesday, allowing Hwang another three years to lead the second-largest mobile carrier in South Korea. According to the company, the board held a meeting Tuesday morning to discuss the CEO’s second term and overhaul of corporate governance.  KT CEO Hwang Chang-gyu (Yonhap)The board’s endorsement of Hwang needs final approval from a shareholders meeting slated for March.With his second term almost ready, Hwang is expected

Jan. 31, 2017

Samsung, LG prevail in American home appliance market

Korean home appliance makers are boosting efforts to dominate the North American market, showcasing air conditioning products tailored for local consumers at an exhibition that kicked off in the US on Monday. At the 2017 International Air Conditioning, Heating, Refrigerating Exposition, known as AHR Expo, in Las Vegas, Samsung Electronics unveiled the Max Heat Series designed specifically for cold regions as well as the world’s first wall-mounted Wind-Free AC, it said Tuesday.(Samsung Electronic

Jan. 31, 2017

IDEACONCERT to focus on webtoon movie production

In the first quarter of 2017, IDEACONCERT, a webtoon movie producer, will concentrate on offering webtoon movie services to its clients. The term “webtoon movie,” which was coined by IDEACONCERT, refers to a slightly more dynamic version of what is known as a “moving toon” – a webtoon in which certain characters or scenes are animated.IDEACONCERT was able to secure this opportunity thanks to the unique technology it has developed -- a technique for producing video tools that enables webtoon char

Jan. 31, 2017

KT’s 5G pilot services adopted as draft for international standards

South Korean mobile carrier KT said Monday the company’s pilot services using the fifth-generation telecom network have been adopted as a draft for international standardization as the industry’s first. KT introduced five 5G pilot services that the mobile carrier has been developing for the PyeongChang 2018 Olympic Winter Games at a study group meeting of the International Telecommunication Union held in Geneva, Switzerland, from Jan. 16 through 27, and all of them were approved as a draft recom

Jan. 30, 2017

Samsung SDI supplies lithium-ion batteries for E-Z-GO golf cars

E-Z-GO’s newest ELiTE model installed with Samsung SDI‘s lithium-ion battery pack was showcased at the PGA Merchandise Show 2017 in Orlando, United States, from Jan. 26 - 29. (SAMSUNG SDI)Samsung SDI has started supplying its lithium-ion batteries for the world’s top golf vehicle brand E-Z-GO as part of its efforts to expand into non-IT devices and vehicles. The battery manufacturing unit of Samsung Group said last Thursday it has clinched a strategic partnership with Textron Specialized Vehicle

Jan. 30, 2017

‘Pokemon Go’ off to successful first week in Korea

The hit augmented reality mobile game “Pokemon Go” enjoyed a successful first week in South Korea, overstepping the sub-zero temperatures and initial worries that the game had lost steam due to its belated launch here.The app has secured around 6.98 million users and 7.58 downloads in Korea as of Monday, according to data compiled by local mobile app marketing intelligence firm WiseApp. The game was released here on Jan. 24. (Niantic)The figures include only Android-based smartphone users and no

Jan. 30, 2017

LG’s 2016 performance improves except for smartphone

LG Electronics on Wednesday announced its performance improved last year, although its mobile device unit performed worse than a year earlier.  　According to a regulatory filing, LG said it posted 55.4 trillion won ($47.5 billion) in sales and 1.34 trillion won in operating profit in 2016. 　While its annual sales dropped 2 percent on-year, LG saw a 12.2 percent gain in its operating profit, owing to the largest-ever profits from its home appliance and TV businesses. 　The company’s home appliance

Jan. 25, 2017

SKT develops smart watch identity verification technology

SK Telecom has developed an identity verification technology using smart watches and won an international certification from the Fast Identity Online Alliance, the company said Wednesday. The FIDO certified technology enables users to replace existing USB flash drives or one-time password tokens with a smart watch for verification required for online financial transactions.  (SK telecom)All a user needs to do is tap the screen of his or her smart watch that has been registered for verification w

Jan. 25, 2017

'Pokemon Go' tops 2.83 mln downloads in Korea

More than 2.83 million South Koreans are presumed to have downloaded the popular augmented reality game "Pokemon Go" on the first day of its official launch in the country, a survey showed Wednesday.On Tuesday, Pokemon Go was officially released in the Google Play Store and Apple's App Store in South Korea, six months after becoming a global hit. (Yonhap)According to the survey of 17,400 smartphone users conducted by an app analytics company WiseApp, 2.83 million people are presumed to have down

Jan. 25, 2017