SK Telecom, CAT to set up JV for Thai e-payment market

[THE INVESTOR] SK Telecom will join hands with Thailand’s CAT Telecom and enter the Southeastern country’s electronic payment market, Thai daily The Nation reported on July 19. Surapant Meknavin, acting president of the public enterprise, acknowledged that the two telecom operators will set up a joint venture to provide an e-payment gateway service. SK Telecom will own 51 percent of the JV, reportedly named Tree Pay, with registered capital of 200 million baht (US$5.72 million). Scheduled to be

July 19, 2016

Korea to invest W12.5b in ‘soft robots’

[THE INVESTOR] The Ministry of Science, ICT and Future Planning said July 19 that the ministry will invest a total of 12.5 billion won (US$11 million) in the field of bio-inspired robotics, often called “soft robotics,” over the next seven years. Soft robots are highly flexible and look like sea creatures. The research aims to build machines that handle tasks impossible with traditionally designed robots. A stingray-shaped bio hybrid robot (left), a joint research project of Korea’s Sogang Unive

July 19, 2016

[EXCLUSIVE] Samsung to adopt loyalty rewards program for Samsung Pay users

[THE INVESTOR] Samsung Electronics is seeking to lure more users to its mobile payment service Samsung Pay with a new loyalty rewards program, tentatively called Samsung Pay Rewards, industry sources said on July 19. The Korean tech giant has been pouring resources into expanding Samsung Pay’s presence globally, which it believes is crucial for its device sales. Since its launch in August 2015, the number of subscribers has reached 2.5 million globally, with the total transaction volume surpassi

July 19, 2016

[News Focus] Will China’s memory chips push threaten Samsung?

China’s latest move to contend in the memory chips segment could threaten the dominant positions of two South Korean firms in the global market --Samsung Electronics and SK Hynix -- and incur a possible technology leak through the departures of local professionals to the neighboring country, market watchers warned Tuesday.China’s chip-maker JHICC recently broke ground for its DRAM plant with an investment of around 6 trillion won ($5.2 billion), aiming to produce 60,000 sheets of 12-inch (30-cen

July 19, 2016

‘Pororo Go’ to launch in Korea, riding on ‘Pokemon Go’ craze

Encouraged by the explosive popularity of Nintendo’s augmented-reality mobile game “Pokemon Go,” a South Korean tech start-up plans to introduce a similar game based on the country’s iconic animation “Pororo the Little Penguin.”SocialNetwork Co., a local start-up which specializes in augmented-reality technology, said Monday that it has begun developing “Pororo Go” in conjunction with the animation’s producer Iconix Entertainment.Pororo the Little Penguin” (Iconix Entertainment)“While ‘Pokemon G

July 19, 2016

LG Electronics releases 77 inch OLED TV

LG Electronics has released a 77 inch TV powered by organic light-emitting diode technology, priced at 41 million won, the company said Tuesday.The product is the latest TV model in its LG SIGNITURE product lineup and a sequel to a 65 inch OLED TV released in March.Starting with South Korea, the electronic giant plans to release the premium TV in markets in the U.S., Europe and Asia, to expand its presence in the high-end TV category. The LG SIGNATURE OLED TV boasts luxury but sophisticated desi

July 19, 2016

Nexon to release ‘Chaos Chronicle’ in 136 countries next month

[THE INVESTOR] Nexon will release its new mobile role-playing game “Chaos Chronicle” in 136 countries, it announced on July 16. China was not included in the list. Developed by Wing Studio, this horizontal scroll game collects and nurtures 103 heroes into the strongest team, and is available in eight languages including Korean, English, Japanese, and Thai.NexonIn advance to the official release, pre-registration is available at the game’s website https://ccc.nexon.com until Aug. 3. All the regis

July 19, 2016

Naver’s online platform beckons illustrators

[THE INVESTOR] Grafolio, Naver’s online platform for creative contents, will host a Global Storypic Challenge to discover illustrators from around the world, it announced on July 19. Applicants are required to choose a theme on their own and upload an illustrated story, with more than 20 episodes, on Grafolio by Sept. 18. A total of 10 creators will be selected to post their works on the official pages and receive US$10,000 each to support their creative activities. Grafolio offers services in e

July 19, 2016

LG Display doubles 65-inch OLED panel production in Q2

[THE INVESTOR] LG Display, the display-making unit of LG Group, has almost doubled production of its 65-inch organic light-emitting diode panels in the second quarter, as more TV manufacturers are adopting the larger OLED displays. 　According to UBI Research, a local research firm specialized in OLED, the company shipped about 140,000 65-inch OLED panels in the March-June period, compared to some 28,000 units shipped in the first quarter. The increased shipments of LG, the No. 1 player in the la

July 19, 2016

Kakao, K Cube Venture to invest W30b in emerging game start-up

[THE INVESTOR] Mobile messenger operator Kakao and K Cube Venture, an early-stage venture capital, will jointly invest 30 billion won ($26.4 million) in Shiftup, a game company.Shiftup was established by art director Kim Hyeong-tae, who participated as an art director in the development of mobile game “Blade & Soul.” The game start-up has recently received the limelight with a hit trailer for mobile game “Destiny Child” which it is currently developing with game firm Nextfloor. Well-known illust

July 19, 2016

Kakao invests in POS system developer

[THE INVESTOR] Mobile messenger operator Kakao said July 19 that it has acquired 20 percent of start-up CNT Tech, which develops systems that receive orders from customers and transfer them to POS systems at the nearby stores.The start-up has also developed its own POS system which is compatible with any network environment and can be utilized for any business in an easy manner, the mobile messenger firm said.The 10-year old start-up which has built up its expertise in e-commerce and POS sector

July 19, 2016

LG Electronics launches W40m OLED TV

[THE INVESTOR] LG Electronics on July 19 unveiled a new 77-inch organic light-emitting diode TV with a hefty price tag of 40 million won (US$35,000), the latest model of its ultra-premium Signature brand that was launched in March. LG said it plans to launch the newest TV in phases in other markets such as North America, Europe and Asia with aims to strengthen its leadership in the premium TV market. LG Electronics' new 77-inch organic light-emitting diode TV / LG ElectronicsThe highest-priced O

July 19, 2016

Korea’s first generation start-up entrepreneur acquires Cyworld

[THE INVESTOR] Jeon Je-wan, a Korean first generation start-up entrepreneur, has acquired Cyworld, a social networking service considered a trailblazer in the SNS sector in Korea.Cyworld said on July 19 that Jeon, the head of streaming service Air, has recently taken over the firm after acquiring 100 percent stake in the company previously held by 29 shareholders. The exact cost of the takeover deal was not revealed, but it is estimated to be less than 1 billion won ($881,000).Jeon founded Web p

July 19, 2016

Korean mobile users more engaged on Facebook than Kakao Story

[THE INVESTOR] Korean mobile users spend more time on Facebook than any other social network services here, including the most popular Kakao Story. According to a recent survey by local market research firm WiseApp, Facebook users here spend a combined 5 billion minutes per month, which compares to 1.2 billion minutes of Kakao Story and 1.7 billion minutes of Band that is owned by Naver. The firm conducted the survey on 14,439 Android smartphone users in June. The number of Facebook users in Kor

July 19, 2016

German TV firm Metz to adopt LG Display’s OLED panels

[THE INVESTOR] LG Display has added a new customer for its organic light-emitting diode display -- German-based TV manufacturer Metz TV.Metz -- owned by Chinese TV maker Skyworth -- will reportedly become LG’s 10th client for OLED panels. The German firm recently said that it would roll out an ultra-high definition OLED TV in September 2016, supporting high-dynamic-range -- a video solution for improving brightness and contrast levels. LG Display’s OLED display. LG DisplayThe Korean display firm

July 19, 2016

S. Korea to ease online game ‘shutdown law’

[THE INVESTOR] The South Korean government on July 18 decided to ease regulations on the gaming industry, such as revising the online game “shutdown law,” by leaving in to the choice of the gamers’ parents. According to the plans drawn up as part of the government’s strategy for boosting the game industry, the Ministry of Culture, Sports and Tourism decided to lift the curfew imposed on underage users from accessing online games late at night. PororoEnacted in 2011 to curb video game addiction a

July 19, 2016

[DECODED] Samsung Electronics’ reigning presence in Korean equity market

When the global consumer tech market thought smartphones had run dry and become a commodity, Samsung Electronics proved it wrong by announcing that its operating profit reached over 8 trillion won ($7.04 billion) for the first time in two years.Samsung’s stock prices have also reached historic highs. On July 14, it hit 1.5 million won for the first time in a year and four months. On July 18, it closed at 1.53 million won. Given that Samsung Electronics boasts the largest market capitalization, i

July 18, 2016

Samsung to supply connected car solution to AT&T from August

[THE INVESTOR] Samsung Electronics will supply its own connected-car solution Samsung Connect Auto to U.S. telecom behemoth AT&T from August in its latest push to make inroads into the futuristic car market.　According to news reports on July 18, AT&T will offer the service based on a monthly payment plan. After gauging market reactions, Samsung aims to diversify corporate clients in the coming months. (123rf)The Korean tech giant first unveiled the Connect Auto solution during the Mobile World C

July 18, 2016

U.S. Supreme Court to hear Samsung’s iPhone patent appeal

[THE INVESTOR] The U.S. Supreme Court will hear oral arguments in a drawn-out legal battle between Samsung Electronics and Apple on Oct. 11, the court announced recently as it posted its schedule for the October 2016 term. 　In March, the court announced it would hear the case, the first time the top court has looked at a design patent case since the 1800s. (123rf)The rare decision comes after Samsung filed a request with the court last year to reexamine the case that it lost to Apple, which resu

July 18, 2016

FTC disapproves SKT-CJ HelloVision merger

[THE INVESTOR] South Korea’s antitrust watchdog said Monday that it has decided to officially oppose the planned merger between SK Broadband, an IPTV unit of SK Telecom, andCJ HelloVision, the nation’s No. 1 cable TV operator, citing monopoly concerns in the media and telecom markets.After a meeting early in the day, the Fair Trade Commission announced its final decision, wrapping up a review session that lasted more than seven months.“The FTC has decided to object to the proposed M&A since the

July 18, 2016