Samsung Electronics sends out invitation for Galaxy Note 7 launch in NYC

[THE INVESTOR] South Korean tech giant Samsung Electronics has sent out an invitation to the global news media for its upcoming Galaxy Note 7 launch event in New York City on Aug. 2.Launch events for the new smartphone will also take place simultaneously in Rio de Janeiro and London, according to the company. Samsung will also live stream the events on its websit (www.samsung.com).As widely rumored, the new smartphone, the sixth of the Note lineup, will be named the Galaxy Note 7 to align its nu

July 13, 2016

Kakao launches hair salon booking app

[THE INVESTOR] Korean Internet giant Kakao, the operator of the immensely popular KakaoTalk mobile messenger, on July 12 launched a new hair salon booking app as part of its ongoing push for diverse online-to-offline services. The service, called Kakao Hairshop, has partnered with some 1,500 hair salons nationwide and plans to add an additional 2,500 shops by the end of this year. Users are required to preregister their credit and debit cards and make reservations and payments simply by typing i

July 12, 2016

Tencent to hold start-up competition in Korea

[THE INVESTOR] China’s Internet giant Tencent is seeking to nurture competitive Korean start-ups as it plans to hold a global start-up competition event in Korea in the latter half of this year. The company said on July 12 it will hold the event -- the first of its kind -- in four countries, including Korea, China, India and the US. Regional winners will be selected through semifinals to compete for the global championship title. In Korea, three teams will be named to participate in the final co

July 12, 2016

Nexon’s mobile game ‘HIT’ downloads exceed 1 million

[THE INVESTOR] South Korean online game firm Nexon’s global version of mobile role-playing game “HIT” is garnering popularity worldwide with the number of downloads exceeding 1 million, the company said on July 12.The game, released in 140 countries on July 7, supports 10 languages, including Thai and Cantonese, and it has made the top 10 list for paid mobile apps on Apple’s App Store in Thailand, Hong Kong, and Taiwan -- fifth, sixth and seventh, respectively.“Utilizing game designing tool Unre

July 12, 2016

Kakao releases hair salon-booking app

KaKao Corp., the operator of South Korea's top mobile messenger, rolled out a salon-booking application on Tuesday as part of its expansion into various online and offline services.Kakao Hairshop currently partners with 1,500 hair salons across the country and plans to add 2,500 more shops by the end of the year, Kakao said. Users are required to preregister their credit and debit cards and make reservations and payments simply by typing in their passwords, the company said.  "Kakao Hairshop wil

July 12, 2016

Samsung SDI likely to make loss in second half

Korea’s top battery maker Samsung SDI is likely to make a loss throughout the year due to continued loss from its car battery segment despite the strong sales of Samsung Electronics’ Galaxy S7, according to analysts Tuesday. According to market watchers, the latest quarterly earnings of Samsung SDI, which posted 700 billion won ($606 million) in operating loss in the first quarter, is expected to see another deficit of 30 billion won in the latest quarter. Also, the company may not turn around t

July 12, 2016

Korea’s IoT market to surge to W17tr by 2020

[THE INVESTOR] Korea’s market for Internet of Things services is expected to surge from the current 3.3 trillion won (US$ 3 billion) to 17.1 trillion won by 2020, a think tank predicted on July 12. The forecast means the nation’s IoT market will grow at an annual average of 38.5 percent in the next five years, outpacing 28.8 percent of the global market. Samsung ElectronicsHyundai Research Institute pinpointed smart home, smart city and smart car as top three promising industries in an era of th

July 12, 2016

Oculus Rift poised to debut in Korea

[THE INVESTOR] US tech firm Oculus has filed an application to receive a mandatory radio wave certification for its virtual reality headset in South Korea, an apparent move to release the VR device here soon. Oculus, owned by Facebook, excluded South Korea from the list of the global markets where its VR device went on sale in January. Oculus’ virtual reality headsetThe Gear VR, developed together by Samsung Electronics and Oculus, has been ruling the domestic market so far.The US VR firm has al

July 12, 2016

Concerns grow over brain drain to China

[THE INVESTOR] Concerns are growing over brain drain within technology-intensive industries such as display and semiconductor as talented workers are leaving the country for new opportunities, mostly for China. A significant portion of highly trained tech talents are finding jobs at Chinese runner-ups that are willing to spend big to attract them. According to industry sources, Chines chipmakers are offering almost tenfold increase in current salary. One of the most high-profile moves is Kim Woo

July 12, 2016

LG Display upbeat on growing demand for OLED

[THE INVESTOR] LG Display’s initiative to grow the organic light-emitting diode display market is gaining steam as more television manufacturers are joining the fray for the high-end TVs featuring self-illuminating OLED panels.Companies like Skyworths, Changhong, Konga, Hisense, Vestel, Panasonic, and LG Electronics are reportedly global TV companies that employ LGD’s OLED panels. More will jump on the bandwagon, according to the Seoul-headquartered display firm.LG Display’s OLED display“The com

July 12, 2016

Gamevil’s ‘Kingdom of War’ makes global debut

[THE INVESTOR] Korean mobile game publisher Gamevil announced on July 12 that its popular role-playing game “Kingdom of War” has made its global debut on the day. It is a strategy game based on a medieval fantasy world in which the mercenary characters of 52 species appear.Gamevil expects a positive market response as it has gained recognition after releasing a teaser trailer and pre-booking events. It said it has heavily invested on a robust development and global live service. By Yun Jeong-hye

July 12, 2016

German firm to release OLED TV

German TV maker Loewe Technologies GmbH will roll out its first organic light-emitting diode TV later this year to tap into the premium market dominated by South Korea's LG Electronics Co.Loewe's OLED TV, called "bild 7," will be available in the European market starting September in 55 and 65 inches for 4,990 and 6,990 euros ($7,740)), respectively, industry sources said Tuesday.The sources said the German TV manufacturer made no mention of the High Dynamic Range technology but that it is likel

July 12, 2016

Samsung's future technology centers on AI, IoT

South Korea's top conglomerate Samsung Group said Tuesday that its future technology will center on artificial intelligence and the Internet of Things.Of 32 research projects spearheaded by the group between 2014 and 2016 which are aimed at accelerating technology innovation, six were related to AI, the company said. The move comes amid heightened public interest in AI following the high-profile matches between Google's AI program AlphaGo and South Korean Go champ Lee Se-dol earlier this year. S

July 12, 2016

Samsung widens gap with rivals on NAND flash memory

[THE INVESTOR] Tech giant Samsung Electronics saw its NAND flash memory sales hit an all-time high in the January-March period, according to a market report.The Korean company earned US$2.62 billion in revenue in the first quarter, up 3.1 percent from the fourth quarter last year, according to a recent report released by IHS, a market research firm. Samsung Electronics’ 3-D NAND flash memory chip.  Samsung ElectronicsIts market share in the global NAND flash memory sector came in at 42.6 percent

July 12, 2016

Korea, Switzerland to discuss science cooperation

 South Korea said Tuesday it will hold talks with Switzerland in Seoul this week on promoting bilateral cooperation in three main fields - basic science, industrial technology and life science.The fourth meeting of a related joint committee, slated for Wednesday, coincides with a Seoul trip by Swiss President Johann Schneider-Ammann for a summit with President Park Geun-hye.The two nations signed an accord on science and technology partnerships in 2008 and launched the committee a year later.Pho

July 12, 2016

Samsung expands presence in NAND flash market

South Korea's tech giant Samsung Electronics Co. basked in a record share of the global NAND flash market in the first quarter of the year, data showed Tuesday.Samsung's share came to 42.6 percent of the global DRAM market in terms of sales during the January-March period, up 0.6 percentage point from the previous quarter, according to the data compiled by industry tracker IHS Inc. The company logged $2.61 billion in global sales, also up 3.1 percent from the same period a year earlier.NAND flas

July 12, 2016

CJHV, SKB submit reports to convince FTC of M&A

[THE INVESTOR] Cable TV network operator CJ HelloVision and IPTV firm SK Broadband submitted follow-up reports to the antitrust watchdog after its recent rejection of their merger and acquisition deal.The two companies refused to provide any details of the report, but they are said to have claimed the feasibility of the planned M&A deal.The Fair Trade Commission had opposed the proposed M&A plan on the grounds that the combined business entity will become a dominant player in the pay TV market a

July 11, 2016