New tech complex to be built in Ilsan by 2020

[THE INVESTOR] Gyeonggi Province on June 29 announced the construction of a new tech complex, tentatively called “North Gyeonggi Techno Valley,” in Ilsan, Goyang City, to attract some 1,900 tech companies from 2020. The new facility is the fourth of its kind to be built in the province, following two in Pangyo and one in Gwanggyo. “The Pangyo Techno Valley has exceeded 70 trillion won (US$60 billion) in revenue last year with some 72,000 jobs being created. Its success story will be revived at t

June 29, 2016

[DECODED] Naver, the new king of journalism

[THE INVESTOR] In the years since its foundation, Naver has become far more than a search engine. It has grown into a giant that dominates Korea’s online services. Naver portal’s news service -- which displays news articles from most online and traditional media outlets in one place -- has become the main source of news for many.As Naver’s clout grew, so did its influence over local news outlets. Naver NewsstandSince March, Naver and Daum introduced the Committee for Evaluation of News Partnersh

June 29, 2016

LG tops US$2,000-plus premium TV sales in Q1: IHS

[THE INVESTOR] LG Electronics topped high-end TV sales in the first quarter, with its global market share exceeding a record 39.4 percent. According to the market research firm IHS, the Korean tech giant logged US$273.9 million in US$2,000-plus TV sales in the January-March period. The ratio of operating profit to net sales also soared to 10 percent, which compares to an industry average of 5 percent. Industry watchers say the current sales momentum is expected to continue in the second quarter.

June 29, 2016

Samsung develops key technology for compact 5G equipment and devices

[THE INVESTOR] Tech giant Samsung Electronics said June 29 that it has developed a small-sized antenna and a power amplifier that will accelerate the research and development and commercialization of 5G network devices.The new network technologies can be applied to both 5G base stations and end-user devices which utilize 28 gigahertz millimeter wave (mmWave) spectrum. The mmWave frequencies are expected to be one of the primary enablers of next-generation networks, according to Samsung.“This ach

June 29, 2016

SK Telecom, Ericsson demonstrate 5G network platform

[THE INVESTOR] Korea’s leading network operator SK Telecom said June 29 that the company and network equipment firm Ericsson have demonstrated a network infrastructure platform, dubbed software-define telecommunications infrastructure, in Korea for the first time in the world.The SDTI platform allows mobile network infrastructure components, including CPUs, memory chips and storage devices, to be disaggregated and recomposed together to provide the optimal level of infrastructure scale for vario

June 29, 2016

China’s Neusoft chair seeks partnership with Korean EV battery makers

[THE INVESTOR] Neusoft Corp. chairman Liu Jiren is seeking partnerships with Korean battery makers as it renews commitment to the futuristic electric vehicle battery business as its growth engine. “We are looking at the EV battery business as one of our new growth engine businesses,” he said in a recent interview with local paper on June 28. Neusoft Corp. chairman Liu Jiren.He hinted the company could seek partnership with Korean battery makers such as Samsung SDI and LG Chem, the leading player

June 29, 2016

Pantech to launch first smartphone under new ownership

[THE INVESTOR] Pantech, the nation’s No. 3 handset-maker, will launch its latest smartphone IM-100 on June 30, the first launch since its Vega Pop-up Note phablet in November 2014. The new phone, whose price starts at 449,900 won (US$386), is a budget smartphone that boasts 7-millimeter thickness and weighs 130 grams. It features Qualcomm’s Snapdragon 430 processor and LG Display’s display screen. Pantech’s new budget smartphone IM-100 and the wireless charger Stone.One of the key features inclu

June 29, 2016

China Unicom to invest in Korean start-ups

[THE INVESTOR] Network operator SK Telecom said June 29 that a leading Chinese telecommunications firm has decided to invest in two Korean start-ups, which had participated in a start-up program run by the Korean telecom firm.SKT said the two start-ups -- Wisejet and Ezbelle -- have secured 900 million won ($769,500) of funding, respectively, from China Unicom, the second largest telecom firm in China. Jang Dong-hyun(second from left), the chief executive of SK Telecom, looks at products made by

June 29, 2016

Kakao Driver service fees slashed after user complaints

[THE INVESTOR] Internet giant Kakao plans to lower the service fees for its brand new chauffer service app called Kakao Driver next month amid user complaints about the expensive pricing. In a statement on June 27, the company said it will lower the current 15,000 won (US$13) basic fee to 12,000 won in major cities and to 10,000 won in other provincial areas. The service fee in the metropolitan area will remain the same. The fee cuts come as Kakao struggles to increase profits in its fast-expand

June 29, 2016

Samsung SDS, SAP to jointly develop cloud solutions for corporate customers

[THE INVESTOR] IT solutions firm Samsung SDS said on June 29 that it would join forces with German software firm SAP to develop cloud systems for businesses.The two companies signed a memorandum of understanding for the partnership at its head office in Seoul on June 29.“We are proud to announce our partnership with Samsung SDS in enterprise cloud, one of SAP’s core services,” said Bernd Leukert, member of SAP’s products & innovations unit.Chung Yoo-sung (left), president and CEO of Samsung SDS,

June 29, 2016

SK Holdings C&C, Siemens team up for smart factory tech

[THE INVESTOR] Korean IT solutions firm SK Holdings C&C and German industrial giant Siemens have teamed up to develop technologies and business models for smart factory. In a memorandum of understanding signed on June 29, the two companies agreed to develop information and communications technologies that improve efficiency and lower costs at manufacturing factories. From left are SK C&C smart factory business chief Park Jong-tae, Siemens’ head of business development industrial automation OEM m

June 29, 2016

Uber CEO declines again to stand trial in Seoul

[THE INVESTOR] Uber’s cofounder and CEO Travis Kalanick has again asked a Seoul court to postpone a trial slated for June 29 over the company's illegal taxi-hailing service that was suspended here in 2014. The Uber chief was expected to appear at the Seoul Central District Court in southern Seoul after he was indicted on the charges. His legal represntative, the nation's top law firm Kim & Chang, had asked the court to designate a hearing date earlier this month. Established in 2009, Uber entere

June 29, 2016