Samsung Serif TV launched in US market

[THE INVESTOR] Samsung Electronics officially introduced its Serif TV models in the US market on July 13, in collaboration with New York City’s landmark gallery Museum of Modern Arts. Designed by France’s Ronan and Erwan Bouroullec, the model takes its design and name after the shape of the alphabet “I” in the “Serif” font. Due to its stylish qualities, MoMA has uncharacteristically lent its venues for the launch event and will continue to offer support by displaying it in its stores.Samsung Ser

July 14, 2016

LINE’s IPO 25 times oversubscribed

[THE INVESTOR] LINE Corp.’s simultaneous initial public offerings in Japan and the US this week were nearly 25 times oversubscribed with deposits totaling 2.77 trillion yen (US$2.66 billion), according to lead managers of the dual stock listings on July 14. LINE, operator of its namesake immensely popular mobile messaging app, will make its stock debut on the New York Stock Exchange on July 14 and Tokyo Stock Exchange the next day. Naver board chairman Lee Hae-jinReflecting keen interest among i

July 14, 2016

Samsung SDS invests in Darktrace, Blocko

[THE INVESTOR] Samsung SDS, the IT solutions unit of Samsung Group, said on July 14 it has recently decided to invest into UK-based security solutions developer Darktrace and Korean blockchain venture Blocko. “With the latest investments, we aim to carry out diverse ICT projects,” the company said in a statement. “We will strengthen our security solutions and services through Darktrace’s next-generation security solutions, while with Blocko we will apply blockchain technology to diverse areas su

July 14, 2016

Samsung increases presence in global chip foundry sector

[THE INVESTOR] Samsung Electronics outran other global integrated device manufacturers in the semiconductor foundry sector in the Jan.-March period in terms of sales, according to market research firm IHS on July 13.The Korean chip company’s foundry business is forecast to have earned $613 million in sales in the first quarter, the largest among the global device manufacturers. The figure is three times more than that of runner-up Micron, which made $198 million.Samsung Electronics’ mobile appli

July 14, 2016

Netmarble Games to release ‘Soul King’ worldwide

[THE INVESTOR] Netmarble Games, a South Korean game producer, said on July 13 that it will release “Soul King,” a comedic mobile role playing game, in 154 countries including Japan and North America.The game provides about 370 characters, and players take missions to defeat evil at each level to protect the Kingdom of Dune. The game was released in South Korea on June 15. Established in 2000, the firm was ranked eighth in global mobile game revenue last year, according to the company’s website. 

July 13, 2016

Woowa Brothers vows to risk operating loss for growth

[THE INVESTOR] Woowa Brothers, the operator of food delivery app Baedal Minjok, said July 13 that the company returned to profit in the first half of this year after suffering an operating loss for two years.The Korean start-up posted 900 million won (US$750,000) operating profit during the half year with its sales coming in at 34.9 billion won. The company attributed the operating profit in the first half to reduced marketing costs and surging orders. In May, the total number of monthly deliver

July 13, 2016

LG Display chief dismisses immediate withdrawal from LCD biz

[THE INVESTOR] LG Display vice chairman and president Han Sang-beom on July 12 dismissed the possibility that the company would withdraw any time soon from the liquid-crystal display business where Chinese rivals are fast securing a footing with cheaper panels. “It is unavoidable for us to stick to LCD for now. We wouldn’t seek to withdraw from the market like our rival (Samsung Display),” Han told reporters at the company’s manufacturing plant in Paju, Gyeonggi Province. LG Display vice chairma

July 13, 2016

Korea renews investments in display, semiconductor industries

[THE INVESTOR] The Korean government is renewing its commitment to the display and semiconductor sectors where Chinese players are fast catching up with their Korean rivals.Korea has reduced related government budgets as Korean companies such as Samsung Electronics, SK hynix and LG Display became top players in the fields. Samsung Electronics’ semiconductor plant in Xian, ChinaDuring the years, Chinese companies have grown rapidly largely boosted by their government’s full support. The governmen

July 13, 2016

Samsung chief hints at upgraded 'note' functions for Galaxy Note 7

[THE INVESTOR] Samsung Electronics president and mobile chief Koh Dong-jin on July 13 showed confidence about the company’s upcoming launch of the Galaxy Note 7 on Aug. 2.“We have improved ‘note’ functions this time, upgrading software for user convenience,” Koh told reporters in Seoul. Samsung Electronics mobile chief Koh Dong-jin speaks at the Galaxy S7 unpack event held in Barcelona in February.He is scheduled to take the stage to unveil the new Note phablet at an unpack event in New York. Si

July 13, 2016

SK Holdings C&C to develop robot solutions

[THE INVESTOR] SK Holdings C&C, a data services firm, said July 13 that it would work with a local robot company to develop new robot solutions utilizing up-to-date artificial intelligence and cloud computing technologies.Signing a partnership deal on the day at its headquarters in Bundang, the C&C and Robocare vowed to collaborate to develop the robot solutions.The C&C will deploy its AI, big data and cloud computing technologies for the joint project while the local robot maker will make use o

July 13, 2016

LG Innotek to build new plant in Vietnam under pressure from Apple: report

[THE INVESTOR] Electronic components producer LG Innotek has recently decided to build a camera module plant in Vietnam, reportedly pushed by Apple to reduce supply prices. According to news reports, the Korean firm plans to build a new camera module plant in Haiphong City, Vietnam, with the full capacity operation scheduled to start from 2018. LG Innotek’s camera modules. LG Innotek“Apple has requested LG Innotek to newly establish a camera module plant in Vietnam where labor cost is much cheap

July 13, 2016

Samsung to withdraw W7.6tr Saemangeum investment plan: report

[THE INVESTOR] Samsung Group is expected to announce the official withdrawal of its 7.6 trillion won (US$6.60 million) investment proposal in the Saemangeum development project this month, the Seoul Shinmun reported on July 13. Saemangeum is an area comprising reclaimed tidal land situated on the southwest coast of Korea. Currently, it is being developed as a free trade and economic zone. A rendering of the Saemangeum free trade zoneThe news daily said Samsung’s withdrawal could deal a huge blow

July 13, 2016

KT teams up with Samsung, Warner Bros to promote HDR tech

[THE INVESTOR] South Korean network operator KT has joined hands with tech giant Samsung Electronics and media content producer Warner Bros. Home Entertainment to commercialize high-dynamic-range imaging -- a next-generation video technology that produces more dynamic images.During a media event on July 12 in Seoul, KT unveiled a lineup of services and products utilizing HDR. Yoo Hee-kwan, KT’s head of media business, introduces the firm’s HDR services at the press meeting in Seoul on July 12. K

July 13, 2016

Xiaomi CEO to meet Samsung executives on components

[THE INVESTOR] Xiaomi founder and chief executive Lei Jun is expected to visit Seoul this week to have a meeting with Samsung Electronics executives possibly on components partnership, industry sources said on July 13. This is the first time that the chief of the hot-selling Chinese smartphone-maker is visiting Korea, home turf of its archrival Samsung.Xiaomi founder and CEO Lei JunAccording to sources, the CEO will meet Jeon Young-hyun, president of Samsung’s memory chip business division who o

July 13, 2016

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