Security robots to guard 2018 PyeongChang Winter Games

South Korea will use security guard robots to reinforce safety in and around Olympic stadiums and venues during the 2018 PyeongChang Winter Games, the government said Monday. The Ministry of Trade, Industry and Energy said it has launched a robot support team led by Oh Joon-ho, a professor of the Korea Advanced Institute of Science and Technology.The team will draw up a comprehensive plan on the use of security guard robots by next month in the run-up to the winter games scheduled in February 20

July 11, 2016

Samsung TVs to benefit from toughened EU rules

[THE INVESTOR] Samsung Electronics, the sole producer of cadmium-free quantum-dot TVs, is expected to benefit from European Union’s planned ban on TVs containing the carcinogen metal. According to Korea Trade-Investment Promotion Agency on July 10, EU is mulling to ban sales of quantum-dot TVs containing cadmium from early next year. The final decision will be made later this month after a public hearing. Samsung’s SUHD quantum-dot TVQuantum dots are tiny particles that emit a different color of

July 11, 2016

Korea approves CHA University's embryonic stem cell research

South Korea has approved CHA University's embryonic stem cell research seven years after it submitted the plan, on condition that it abides by high ethical standards, the government said Monday. The Ministry of Health and Welfare said it allowed the research team led by Prof. Lee Dong-ryul to use 600 egg cells in the next five years for the purpose of developing rare disease treatments. The ministry said the conditional approval requires the research team to abide by regulations on collection of

July 11, 2016

Panasonic dismisses Samsung, LG as viable suppliers for Tesla

[THE INVESTOR] Korean firms Samsung SDI and LG Chem are unlikely to supply batteries for US-based Telsa’s electric cars any time soon, as Panasonic will continue being the exclusive supplier, according to an executive at the Japanese firm.Kenji Tamura, the head of Panasonic’s energy business, said in a recent interview with Japanese reporters that he is “confident,” that Panasonic would keep the exclusive contract with the US partner.Tesla Model 3This is because as Panasonic, the sole battery su

July 11, 2016

LINE sets IPO price at 3,300 yen

[THE INVESTOR] LINE Corp. has set the price for its initial public offering at the top of its marketing range to raise up to 132.8 billion yen (US$1.3 billion), the company said in a regulatory filing on July 11 in Tokyo. The immensely popular mobile messaging service, owned by Korean Internet giant Naver, will sell 35 million shares at 3,300 yen per share. Another 5.25 million shares also will be sold through a so-called greenshoe option allowing it to increase the amount of stock sold. The com

July 11, 2016

Samsung reaches agreement with Shinsegae on mobile payment services

[THE INVESTOR] Although Samsung Electronics has touted its mobile payment solution Samsung Pay as a universal payment platform available both online and offline, it had a major setback as it was unavailable at the stores run by South Korea’s largest retail firm Shinsegae.Things will likely change soon as the two have reportedly reach an agreement.Samsung Electronics’ mobile payment solution Samsung Pay. Samsung Electronics“After lengthy negotiations, the two companies have been able to find midd

July 11, 2016

Samsung SDS sets up logistics JV with Thailand’s Acutech

[THE INVESETOR] Samsung SDS, the IT solutions and logistics unit of Samsung Group, said on July 11 it has agreed with Thailand’s Acutech to set up a joint venture to expand its presence in the soaring Southeast Asian logistics market. Acutech, established in 1987, is Thailand’s largest logistics company whose key clients include electronics, automotive parts and food makers. Samsung SDS headquarters in Jamsil, southern SeoulTaking advantage of Acutech’s client base in the region, Samsung SDS pla

July 11, 2016

New start-up center to support foreign businesses

[THE INVESTOR] A new start-up center funded by the Seoul Metropolitan Government will help expats grow their businesses by assisting them in developing globally.The Seoul Global Startup Center in Yongsan-gu is the first government-subsidized scheme to provide seed funding mainly for foreigners through an incubation program in Korea. Seoul GSC’s five-month incubation program will provide 10 million won ($8,656) in seed funding to successful applicants.Each team will also receive a 24-hour office

July 11, 2016

SK-CJ deal collapse spells doom for cable TV market

The state antitrust watchdog Fair Trade Commission’s preliminary decision to oppose the proposed merger and acquisition plan between IPTV operator SK Broadband and cable TV operator CJ HelloVision has left the two companies as well as the cable TV and media content sectors in trouble.The 50 billion-won ($43 million) investment plan of the merged business entity in nurturing media content businesses, promised by network operator SK Telecom, the parent firm of SKB, has now seemingly hit the buffer

July 10, 2016

Pantech scores early success with mid-tier smartphone

South Korean mobile phone-maker Pantech’s new mid-tier smartphone Sky IM-100 is selling quickly in the Korean market, with some 30,000 units sold since the model’s launch two weeks ago.　　About 7,000 units of the Sky IM-100 were preordered in June while daily sales since the model hit the market on June 30 have averaged 2,000 units, according to SK Telecom and KT, the two mobile service providers that are selling Pantech’s new budget smartphone here.Pantech’s Sky IM-100 (Pantech)　SKT and KT have

July 10, 2016

S Korea reports 7th confirmed case of Zika virus

 South Korea has confirmed its seventh Zika virus infection in a man who returned from Guatemala, Seoul health authorities said Sunday.The latest Zika patient was discovered nine days after the sixth case was confirmed here.The 52-year-old man, whose identity has been withheld, tested positive for the mosquito-borne virus after returning home from the Central American country Wednesday, the Korea Centers for Disease Control and Prevention said.The KCDC assured that the man shows no particular sy

July 10, 2016

Consumer Reports: Samsung phone not actually water resistant

NEW YORK (AP) – Consumer Reports says a Samsung phone that's advertised as being ``water resistant'' actually isn't.The problem appears limited to the Galaxy S7 Active, a rugged model available only through AT&T in the U.S. The standard S7 and S7 Edge models have the same claims on water resistance and passed tests.Consumer Reports, a non-profit organization that is well respected for its product testing, said Friday that it can't recommend the Active because it doesn't meet Samsung's own claims

July 8, 2016

LG Display to benefit from Samsung Display’s shutdown of LCD lines

 [THE INVESTOR] Seoul-based display maker LG Display will likely see its operating profit jump 26 percent to 419 billion won (US$361.6 million) in the July-September period this year thanks to a price increase of liquid-crystal display, according to an investment report.“The price of liquid-crystal displays will continue to be on an upward trend,” said Jeong Won-seok, an analyst from HI Investment & Securities, in his recent investment report, adding the operating income in the latter half would

July 8, 2016

LG Electronics eyes high-end market in Latin America

[THE INVESTOR] LG Electronics is seeking expansion in Central and South American markets for high-end home appliances. The company said on July 8 that it opened a four-day event introducing its new lineup in Cancun, Mexico. The event, titled InnoFest, opened on July 6, the company said. LG Electronics, which has been holding InnoFest events across the globe since February, plans to introduce a diverse range of new products in the region this year. The company plans to lead with its new Twin Wash

July 8, 2016

Samsung makes up 9% of China Mobile phones

[THE INVESTOR] Samsung Electronics phones made up 9 percent of smartphones used by 800 million China Mobile customers, China’s largest telecom carrier said in a recent report. The most favorite smartphone brand among China Mobile customers was Apple’s iPhone that made up 15 percent or some 120 million phones of the total. Together with Samsung, China’s Xiaomi and Huawei were ranked second with 9 percent market share, respectively. Samsung Galaxy S7 launch event held in ShanghaiChinese runner-ups

July 8, 2016

Operating-margin gap between Samsung, Apple likely to decline

[THE INVESTOR] The operating-margin gap between South Korean tech giant Samsung Electronics and California-based Apple is likely to reduce to a record low level in the April-June period. Samsung Electronics said in its earnings guidance for the three-month period that it posted 8.1 trillion won (US$7 billion) of operating income and 50 trillion won of revenue during the three months. Based on the estimated figures, the operating margin of the Korean firm will come in at 16.2 percent, the second

July 8, 2016

Samsung unveils Galaxy S7 Edge Olympic edition

Samsung Electronics Co. unveiled its limited edition Galaxy S7 Edge smartphone on Friday designed to celebrate the upcoming Rio Olympic Games.The South Korean tech giant said it will begin the sale of the special version in South Korea, Brazil, China, the United States and some other selected nations on July 18.Samsung is a long-time sponsor of the quadrennial global sports gala.The revelation of the special edition phone marks the official launch of its "global Rio 2016 Olympic Games campaign."

July 8, 2016