[Herald Interview] ‘Samsung to be biggest beneficiary of Bitcoin market’

DAEJEON ― A leading Bitcoin organization founder said Samsung Electronics, a chipmaking powerhouse, will likely benefit the most as the global market for the digital currency Bitcoin grows further down the road. “At least half a billion U.S. dollars, up from $10 million two years ago, will be spent on purchasing Bitcoin mining systems (built using highly efficient chips) worldwide next year or in 18 months,” said Peter Vessenes, chairman of the Bitcoin Foundation, a U.S. organization committed t

Nov. 12, 2014

Adobe cloud services aim to help small firms market digital content

Adobe Systems Asia president Paul Robson introduces the company’s cloud platforms in Seoul on Wednesday. (Adobe Systems)Adobe Systems seeks to help South Korean entrepreneurs and small and medium enterprises make a complete transition from analog to digital in the way they produce and market content through its integrated platforms.The multimedia software company, which is renowned for its creative applications such as Photoshop and Flash, has two platforms ― Adobe Creative Cloud and Adobe Marke

Nov. 12, 2014

Samsung Electronics to build 2nd smartphone plant in Vietnam

Samsung Electronics has been approved by the Vietnamese government to invest $3 billion to build a smartphone manufacturing center in the Southeast Asian country, according to the tech giant and local news outlets.The new factory will be built in Thai Nguyen province, north of Vietnam’s capital Hanoi, where the South Korean tech conglomerate has been operating its first smartphone plant in the country since last March.Samsung Electronics invested $2 billion to build the first smartphone factory,

Nov. 11, 2014

Lee may have to wait for promotion

Samsung Group, South Korea’s largest conglomerate, will reportedly downsize the number of its executives and at its key affiliates, including Samsung Electronics, to make the companies leaner and more responsive to changes in the business climate.Lee Jay-yong, the vice chairman of the tech giant, is unlikely to be promoted as the chairman next month when the group announces its annual executive reshuffles, several news reports said.Lee Jay-yong. (Korea Herald file photo)Samsung Group said it had

Nov. 10, 2014

Game designer 4:33 teams with Tencent, Line

4:33 Creative Lab, a top South Korean mobile game designer, has joined hands with two of the world’s largest mobile messenger firms, Tencent and Line Corp., in its effort to foray into the international market. Announcing that it had successfully attracted funds from the mobile messenger operators, the Seoul-based mobile game company said Monday that it would become a global powerhouse in the game designing market. “With the latest investment, 4:33 has secured reliable partners, Tencent and Line

Nov. 10, 2014

Daum Kakao posts loss on merger costs

Daum Kakao said Friday that it posted a net loss of 6.3 billion won ($6 million) in the third quarter of this year due to one-time expenses incurred from the merger between Kakao and Daum Communications.Asset revaluation of its subsidiaries and commission payments to M&A brokers following the merger had cost the company 51.7 billion won after taxes. The costs also included account receivables from sales of Lycos, an overseas search engine that Daum acquired in 2004, the company said.The merger e

Nov. 7, 2014

Samsung, LG to face Chinese challenge in TV market: analysts

South Korean display and TV producers, including Samsung Electronics and LG Electronics, which maintain a firm grip on the global market, will face daunting challenges from Chinese rivals in the coming years, according to market analysts. “Chinese panel manufacturers are making aggressive investments including building new factories. A competitive edge built in the Chinese panel industry will also boost the Chinese TV businesses,” said Jusy Hong, principal analyst of market research institute IH

Nov. 7, 2014

Galaxy S6 will be ‘dual edged’: analyst

Samsung Electronics’ next flagship smartphone, the Galaxy S6, will sport a “dual-edge” display, according to an analyst.“The Galaxy S6 to be released next year will feature a ‘dual-edged’ screen which is curved on the right and left sides,” said Jerry Kang, senior analyst of IHD Technology, at the IHS Display Analyst Conference Thursday. The company had been well aware of possible complaints about the curved display featured only on the right hand side of the Galaxy Note Edge before the release

Nov. 6, 2014

Mobile messengers seek growth through PCs

Mobile messengers have been all the rage ever since the advent of smartphones while PC messengers, on the other hand, have gone downhill. South Korean mobile messenger operators, however, are turning to PCs to complement their existing mobile services and generate additional profit.VCNC, which operates Between, a mobile messenger for couples, is the latest South Korean mobile messenger firm to roll out a PC version of a mobile messaging app.“The PC application aims to capture the eight-hour peri

Nov. 5, 2014

[Herald Interview] ‘Korea needs to clarify data transfer rules’

South Korea is facing a conflict over whether to further ease domestic restrictions to allow financial companies, especially foreign entities, to transfer customers’ information overseas for processing at data centers operated by their global headquarters or third parties.The current regulation restricts offshore data processing and outsourcing without prior consent from the country’s financial authority due to privacy and security issues.Financial and legal experts said that relaxing the rules

Nov. 5, 2014

Beyond just lighting

Would you be willing to pony up $15 for an ultraefficient light-emitting diode bulb, especially if these so-called smart bulbs also played music and served as a home fire-detection and security system? This year has been a challenging one for the leading suppliers of lighting products, with quarterly lamp and luminaire revenues falling for most traditional technology suppliers. Many LED suppliers hope to reverse their fortunes as they strive to attract new customers to pay a premium by offering

Nov. 5, 2014