Nexon GT to withdraw ‘Sudden Attack 2’ by Sept. 29

[THE INVESTOR] Nexon GT said on July 29 that it has decided to withdraw its “Sudden Attack 2” game by Sept. 29. The decision came just 23 days after the game was introduced, and comes amid controversy over its alleged exploitation of the female sexuality. Nexon GT deleted some of the characters, but was unable to quench the criticism, which further mounted on a scandal involving Nexon founder Kim Jung-ju and his friend and prosecutor Jin Kyung-joon who was arrested and indicted today. Nexon GT h

July 29, 2016

Top Korean firms invest W21b in AI research institute

[THE INVESTOR] Seven South Korean conglomerates joined hands to launch on July 29 a research institute focused on artificial intelligence technologies. Samsung Electronics, Hyundai Motor, SK Telecom, KT, LG Electronics, Naver and Hanwha Life Insurance have contributed 3 billion won (US$2.67 million) each to launch the AI Research Institute. 123rf“We will bring in the best human resources and develop core technology for the information intelligence society,” said Kim Jin-hyung, head of the instit

July 29, 2016

Samsung files trademark for Gear S3 Frontier

[THE INVESTOR] While Samsung Electronics is busy with the upcoming launch of the Galaxy Note 7 smartphone, it is also preparing to showcase other big products, including the Gear S3, before the end of this year.The South Korean tech giant filed the trademark for Gear S3 Frontier at the nation’s patent office on July 26, implying that there could be more than one smartwatch model the firm has up its sleeves.The new project for Samsung smartwatch is reportedly named Solis, meaning the sun in Spani

July 29, 2016

[Weekender] Pokemon -- strong story meets technological potential

The emerging technology augmented reality is showing immense potential in the digital world especially after the success of “Pokemon Go,” a location-based AR mobile game.AR, in fact, is nothing new. But the game has brought the technology another step closer to reality, pushing companies and governments to commercialize AR by integrating it with unique content.In movies and science fiction, AR -- the incremental technology from virtual reality that can be further developed into holograms -- has

July 29, 2016

'V20 not enough for LG Electronics' turnaround'

[THE INVESTOR]  LG Electronics' clout in the global smartphone market is steadily declining on the back of cut-throat competition in the sector.And the Korean firm’s bet on its next high-end smartphone, the V20, which succeeds the V10, is not expected to bring about a dramatic turnaround, according to industry watchers. LG V10 phablet. Its successor, tentatively called V20, is expected to come out in September. LG Electronics"LG’s upcoming new high-end smartphone will not be able to offset the s

July 29, 2016

Samsung drops from list of top 5 smartphone-makers in China

[THE INVESTOR] Samsung Electronics has failed to make it to the list of top five smartphone-makers in China, despite having the largest global market share, falling behind local rivals and Apple. According to Strategic Analytics, a market research firm, Chinese handset makers, including Huawei, Oppo, Vivo and Xiaomi, were the top sellers in the April-June period. Samsung Galaxy S7.Huawei, China’s largest handset maker, topped the list with 19.1 million unit sales or 17.5 percent market share, fo

July 29, 2016

Brokerages lift forecasts for Samsung Electronics' Q3 earning

Some brokerages in South Korea on Friday lifted their forecasts for Samsung Electronics Co.'s third-quarter earnings, a day after Samsung posted its biggest quarterly operating profit in more than two years. Samsung, the world's largest maker of smartphones and semiconductors, reported an operating profit of 8.14 trillion won ($7.23 billion) for the April-June quarter, buoyed by strong sales of its flagship Galaxy S7 smartphone. Samsung expected its smartphone margins to be under pressure in the

July 29, 2016

FTC fines Baedal Minjok for manipulating online reviews

[THE INVESTOR] Korea’s antitrust watchdog has fined the hot-selling food delivery app Baedal Minjok and five other similar firms for slyly manipulating online user reviews.The Fair Trade Commission announced on July 28 that it imposed a combined fine of 17.5 million won (US$16,000) on the six food delivery app companies for hiding negative online reviews and ordering their employees to post positive ones.Baedal Minjok is the No. 1 food delivery app in Korea.The companies were also found to have

July 29, 2016

Samsung to invest W17tr in smartphone chips, OLED

[THE INVESTOR] Samsung Electronics is expected to pour a whopping 17 trillion won (US$15 billion) into 3-D NAND flash memory chips and organic light-emitting diode panels, both key parts for smartphones, this year in a bid to widen the gap with its smaller rivals. The Korean tech giant had hinted it would invest about 26 trillion won this year, slightly up from last year’s 25.52 trillion won. In the first half of the year, it spent 8.8 trillion won. “We will focus on 3-D NAND and OLED this year

July 29, 2016

KT posts record-high Q2 operating profit in 4 years

[THE INVESTOR] Telecommunications firm KT posted second quarter operating profit of 427 billion won (US$379.6 million) -- its highest quarterly operating income in four years -- thanks to solid performances in its wireless network, landline telecom, and media businesses.The quarterly profit reflected a 15.8 percent increase on-year, KT said on July 29. Sales were up 4.5 percent to 5.68 trillion won. KT headquartersThe number of subscribers for KT's Long Term Evolution network service in the seco

July 29, 2016

‘Google Play Arcade’ to offer interactive mobile gaming in Korea

Google Korea will open a free indoor entertainment space dubbed “Google Play Arcade” at Dongdaemun Design Plaza in Seoul on Friday, with aims to introduce and bring mobile games closer to the wider public.From taking the stage to become the South Korean champion of “Clash Royal” to physically climbing up the virtual steps on “Infinite Stairs,” visitors to the arcade can experience a wide range of mobile games in new and interactive ways.A view inside the “Google Play Arcade” which opens Friday a

July 28, 2016

Kakao expands transport services

South Korea’s most popular messenger Kakao’s transport services are picking up speed, spanning the gamut from taxi-hailing to navigation. “We are expanding transport services with the aim of relieving customers’ daily inconveniences through mobile services,” the company’s spokesperson said.  (Kakao)Kakao Taxi, which was launched in March last year, is a popular service, with 150 million calls in total made through it so far. The taxi-hailing service has also raised drivers’ incomes by effectivel

July 28, 2016

LG Electronics posts big jump in Q2 operating profit

LG Electronics Inc. said Thursday its second-quarter operating profit surged 139.5 percent from the same period last year. LG Electronics earned 584.6 billion won ($519.6 million) in the April-June period, compared with a profit of 244 billion won for the same quarter last year. Second-quarter sales grew 0.5 percent on year to 14 trillion won, LG Electronics said in a regulatory filing. (Yonhap)

July 28, 2016

Samsung Electronics reaps W8tr profit in Q2

Samsung Electronics posted its best quarterly results in more than two years and it expects continued solid performance in the latter half of this year. The tech giant said Thursday it posted 8.1 trillion won ($7.2 billion) in operating profit in the second quarter, an 18 percent jump on-year. Revenue for the quarter rose 4.9 percent to 50 trillion won.The growth was mainly driven by its mobile business, which posted 4.3 trillion won in operating income. Its flagship smartphone Galaxy S7 series

July 28, 2016

Samsung SDI suffers operating loss in Q2

[THE INVESTOR] Samsung SDI, the battery arm of Samsung Group, posted operating loss of 54.2 billion won (US$48.13 million) in the second quarter, the company said in its quarterly earnings report on July 28. The company, however, narrowed its losses from 58.81 billion won a year earlier and 703.75 billion won from the previous quarter. Sales stood at 1.31 trillion won, up 11.95 percent on-year. In the April-June period, the net profit came to 955.8 billion won, reversing a loss of 310.3 billion

July 28, 2016

SK Telecom to increase capex this year

[THE INVESTOR] SK Telecom said July 28 that it would increase its capital expenditure by 100 billion won (US$88.90 million) to 2.1 trillion won this year to upgrade its existing telecommunications infrastructure.The company announced the investment plan after announcing its second-quarter earnings on the day. The head office of SK Telecom in SeoulSome market watchers considered the latest decision an unexpected move as the nation’s telecom market has reached a near-saturation point.The mobile ne

July 28, 2016

Despite profit surge, gloomy outlook for SK Telecom

[THE INVESTOR] SK Telecom, the nation’s largest telecom carrier, on July 28 posted its second-quarter operating profit of 478.2 billion won (US$425 million), a 20.73 percent surge from a year ago. Revenue was also up 11.25 percent to 3.92 trillion won. But the upbeat results included huge cost cuts following an earlier retirement program during the cited period. Industry watchers estimate about 9.04 percent on-year decline in its operating profit. In a saturated telecom market, the company with

July 28, 2016

LG Electronics’ Q2 operating profit jumps 140%

[THE INVESTOR] LG Electronics saw its operating income soar nearly 140 percent on-year to 584.6 billion won (US$519.7 million) in the April-June period on the back of strong sales of home appliances and air-conditioning systems, the company said in its earnings report on July 28.The company’s revenue came in at 14 trillion won, up 0.6 percent from a year earlier. LG Electronics’ R&D center in Seocho, Seoul  /  LG ElectronicsLG’s home appliance & air solution unit and home entertainment unit -- t

July 28, 2016

Naver to nurture ‘next LINE’

[THE INVESTOR] South Korea’s Internet giant Naver said it would try to increase its global presence with its mobile services, including the webtoon platform, Snow, a Snapchat-like app, and V-App, a video streaming service focused on Korean pop culture.“The webtoon, Snow and V-App services have made remarkable achievement so far in the global market,” said Kim Sang-hun, CEO of the Pangyo-based company, in the second-quarter conference call on July 28.“If the company pushes further together with i

July 28, 2016

LG Innotek to build new camera module factory in Vietnam

[THE INVESTOR] Electronic components firm LG Innotek said July 28 that it would invest US$ 230 million by 2018 to build a camera module factory in Haiphong, the third largest city of Vietnam.The company’s board of directors approved a new funding of US$ 20 million to be used for setting up a local branch at a meeting in Seoul on July 27. LG Innotek`s camera moduleLG Innotek will roll out camera modules for smartphones and vehicles at the new factory in Vietnam, where the monthly minimum wage is

July 28, 2016