[Industry 4.0] Strict regulations hinder big data growth

The growth of South Korea’s big data industry is being hampered by strict regulations on personal data and lack of understanding of the technology, industry analysts say. The global big data market, which is expected to stand at around $27.3 billion this year, will more than triple by 2026, according to market research firm Statista.  (Bloomberg)However, tech-savvy Korea is still far behind in this industry. The local big data market was worth around 262 billion won ($239 million) last year and

Aug. 11, 2016

[Industry 4.0] AI, robots in Korea after AlphaGo match

A Go tournament in March between a Korean and an artificial intelligence software changed many things. The computer program by Google’s DeepMind defeated the human at the game, proving that machines can in some ways be better than their creators and defying conventional thinking that upholds human intelligence.  (123rf)The impact of the event on Korean society was immense as it spread the message that machines could possibly surpass humans in other areas – and sooner than expected. It also raise

Aug. 11, 2016

Samsung mobile chief says iris-scanning is safest

Samsung Electronics’ mobile chief said Thursday that the iris technology used for its new smartphone Galaxy Note 7 is the safest security technology. “Iris-scanning is the safest security technology at the current level. Iris, which is fixed within 18 months to 20 months (since a baby is born), cannot be reproduced,” said Koh Dong-jin, the head of the tech giant’s mobile business, at a launch event for the Galaxy Note 7 in Seoul. Koh downplayed a recent hacking demonstration of Samsung Pay by se

Aug. 11, 2016

Kakao Q2 operating profit up 133% on Loen acquisition

Kakao, the operator of South Korea’s top mobile messenger KakaoTalk, on Thursday said its operating profit in the second quarter rose 132.8 percent on-year to 26.6 billion won ($24.25 million).　　The company’s revenue during the April-June period jumped 66.2 percent on-year to 376.5 billion won, led by the strong performance of its content business division which includes music, games and webtoons, it said.　Kakao’s content division received a major boost from its new subsidiary Loen Entertainment

Aug. 11, 2016

Foreign travelers most impressed by free WiFi in Korea: survey

South Koreans take free Wi-Fi access available in public places for granted, but it was the most impressive experience for foreigners visiting Asia's tech powerhouse, a survey showed Thursday. According to the poll conducted by Cosmo Jin Travel R&D Institute on 706 foreign travelers between June and July, 55 percent were most surprised by being able to use the free Internet connection in such places as airports, subway lines, restaurants and ancient palaces during their stay here.Over 130 respon

Aug. 11, 2016

Beauty start-up Memebox scores $66m investment

South Korean online beauty retailer Memebox on Wednesday said it secured some $66 million in new funding from global venture capital funds Formation 8, Goodwater Capital and Pejman Mar Ventures.　The latest round of funding drives up the total investment raised by Memebox to about $100 million, the biggest ever for a Korean beauty start-up, the company said. It plans to use the new capital to finance its service upgrades and global expansion.A person opens the Memebox mobile app on a smartphone (

Aug. 10, 2016

Huawei jumps into consumer tech market with new PC

China’s tech giant Huawei said Wednesday that it will launch a new computer product in South Korea, jumping into the fierce market race that has been led by home players as Samsung and LG.Huawei will launch its new device MateBook that combines the features of a laptop and a tablet on Thursday. This is the first digital device the Chinese firm rolled out here other than smartphones it has offered since 2014 in partnership with mobile carrier LG Uplus. Wu Bo, Japan and Korea regional head of Huaw

Aug. 10, 2016

Park hosts panel session on science and technology strategy

President Park Geun-hye on Wednesday presided over a national science and technology strategy session to discuss future growth dynamos and ways to breathe fresh life into the country's economy.During the session that followed the inaugural one in May, the panel selected nine strategic projects aimed at securing the nation's new growth engines and enhancing the quality of life for the general populace.The panel designated autonomous vehicles, light materials, the smart city model, artificial inte

Aug. 10, 2016

Korean electronics firms rush to open plants in Vietnam

South Korean tech firms are rushing to expand their investment in Vietnam in line with their effort to build a new production base in the Southeast Asian country.South Korea's Seoul Semiconductor Co. has won a license to invest $300 million to build a semiconductor production factory in northern Vietnam, industry sources said Tuesday.Last week, the provincial government of Ha Nam gave the green light to Seoul Semiconductor to build the 750,000-square-meter production site that will house a semic

Aug. 9, 2016

Naver launches new translation app Papago

South Korean Internet giant Naver on Tuesday launched a new automated translation app for four languages -- Korean, Japanese, Chinese and English.The app, Papago, can translate text, speech and images of words or phrases into the target language using Naver’s translation database and self-developed artificial intelligence software, the company said.When deciphering words with multiple possible meanings, Papago shows contextual images to prevent mistranslation. When translating currencies, it aut

Aug. 9, 2016

Plan to install government app on Galaxy Note 7 faces backlash

A plan by Samsung Electronics to add a mobile application created and distributed by the Korean government to its new Galaxy Note phablet sparked a backlash from the main opposition party and civic groups, which called it an attempt to use technology as a propaganda tool. According to local reports quoting sources in the tech industry, Samsung Electronics has recently decided to include the government app service, named Government 3.0, on the list of apps to be installed automatically on the Gal

Aug. 9, 2016

[Photo News] Best TV in Russia

Song Dae-hyun (second from left), executive vice president and CEO of LG Electronics‘ Russia operation holds a letter of recommendation by a local media Hi-tech.mail that selected LG Signature OLED TV as the most recommendable product in the TV category this year. (LG Electronics)

Aug. 9, 2016

Samsung likely to spend more on chips than rivals in H2

Samsung Electronics is expected to spend more on facility investment than its rivals in the second half of this year to maintain its dominance in the 3-D NAND flash segment, amid heated rivalry in the global semiconductor market. According to market research firm IC Insights, Samsung is predicted to increase its capital expenditure by 120 percent in the July-December period from $3.4 billion in the previous half to $7.5 billion. The research firm had earlier forecast that Samsung would spend abo

Aug. 9, 2016

Chinese smartphone-makers pose rising threat to Samsung

Samsung Electronics is facing competition from the Chinese companies Huawei, Oppo and Vivo, whose combined smartphone market share was 20 percent globally in the second quarter of this year, industry watchers said Monday.According to data from research firm IDC, Samsung Electronics, the world’s largest smartphone-maker, held a 22.4 percent share of the market and Apple’s share stood at 11.8 percent. Huawei took a 9.4 percent share, while Oppo had 6.6 percent and Vivo had 4.8 percent. When the ma

Aug. 8, 2016

Samsung BioLogics to begin IPO process this week

Samsung BioLogics, a contract manufacturer of biologic drugs under Samsung Group, will apply for preliminary approval to begin its initial public offering process this week, the Korea Exchange said Monday.The South Korean drugmaker plans to submit its application to pursue am IPO on the country’s main bourse KOSPI on Thursday, the KRX said. Under this timeline, Samsung BioLogics will likely complete its public listing by November as scheduled. Samsung BioLogics declined to comment on the potenti

Aug. 8, 2016

Samsung's iris-reading Note 7 draws attention worldwide

The new Galaxy Note phablet by Samsung Electronics Co. is drawing attention worldwide with its iris-scanning feature that allows a user to unlock the smartphone in the blink of an eye. Samsung unveiled the phablet, the successor to the Note 5, in New York earlier this week in a bid to keep up the momentum of its smartphone sales after widening its lead over Apple Inc. in the global smartphone market this year. The launch of the Galaxy Note 7 came ahead of the latest iPhone launch, expected in th

Aug. 8, 2016

Netmarble seeks W2tr stock debut on KOSPI

South Korea’s No. 1 mobile game developer Netmarble Games is seeking to go public on the nation’s benchmark stock exchange KOSPI in the coming months. The company has long gauged its initial public offering in Korea or the U.S. as part of its push for global expansion.　A NASDAQ debut could help it elevate its presence in overseas markets but there was risk of being undervalued as compared to KOSPI. Netmarble founder Bang Joon-hyuk (Netmarble)Sources say its recent failed attempt to acquire Playt

Aug. 7, 2016

Samsung adds touch of technology to Meatpacking District in New York

NEW YORK -- Sprawling roughly between West 16 Street and Hudson Street in Manhattan, the Meatpacking District was where meat factories were up and running in the early 1900s. The blocks in the area, currently filled with upscale restaurants and bars and fashion boutiques, have since become the gem of New York City, attracting millions of tourists, partygoers and locals every year.Samsung Electronics opened its marketing center, dubbed Samsung 837, in the heart of the district at Washington Stree

Aug. 7, 2016

Samsung hints at streamlining flagship Galaxy S lineup

NEW YORK -- When Samsung Electronics first launched the Galaxy S6 Edge featuring a curved display in 2015, it caught the eyes of many thanks to its stunning, unprecedented design.However, Samsung fell short of gaining traction in sales as it failed to catch up with the demand for the S7 Edge due to glitches in producing the display curved on both sides.Now having achieved a rather satisfactory level of production yields for the Edge display, Samsung said it would put more focus on smartphone mod

Aug. 7, 2016

Korean mobile carriers announce subsidy plan for Galaxy Note 7

South Korea’s three mobile carriers SK Telecom, KT and LG Uplus announced their subsidy plans for the Samsung Galaxy Note 7 on Saturday as they began receiving preorders for Samsung Electronics’ latest smartphone on the day.Under current law, local smartphone buyers who purchase a smartphone and sign up for a payment plan here can choose from one of the following two subsidies -- an upfront, one-time subsidy that can be used in purchasing a new device, or a monthly 20 percent discount on the use

Aug. 7, 2016