Samsung Galaxy Note 7 to feature 64GB memory only

[THE INVESTOR] Samsung Electronics is expected to release the upcoming Galaxy Note 7 with a 64-gigabyte internal storage capacity only, ditching its existing marketing strategy of offering two storage options. According to industry sources, Samsung has decided to do so considering the latest trend of bigger smartphone storage as mobile users are increasingly enjoying multimedia functions, including high-resolution photos and videos. Its predecessor Galaxy Note 5 came with 32GB and 64GB memory op

July 20, 2016

Samsung to offer 12,500 Galaxy S7 Edge phones to all Olympic athletes

[THE INVESTOR] Samsung Electronics said on July 19 it will offer 12,500 Galaxy S7 Edge smartphones to all athletes participating in the upcoming Summer Olympics in Rio de Janerio, Brazil. The phone model to be offered is the company’s latest Olympics-themed Galaxy S7 Edge. It will be offered together with the Gear Icon X, the new wireless Bluetooth earbuds. The total amount is estimated at about 15 billion won (US$13 million). Samsung’s Olympics-themed Galaxy S7 EdgeDuring the 2014 Sochi Winter

July 20, 2016

LG Display doubles 65-inch OLED panel production in Q2

[THE INVESTOR] LG Display, the display-making unit of LG Group, has almost doubled production of its 65-inch organic light-emitting diode panels in the second quarter as more TV manufacturers are adopting the larger OLED display. According to UBI Research, a local research firm specialized in OLED, the company shipped a combined140,000 OLED panels in the April-June period. Of them, the 65-inch panel made up 28,000 units, doubling from some 14,000 units in the first quarter. The increased shipmen

July 20, 2016

SKT bets big on connected car platform

[THE INVESTOR] Following its failed attempt to take over cable firm CJ HelloVision earlier this week, network carrier SK Telecom said that it would instead put more focus on the connected car solutions business. The company made its car navigation app T-map available to all mobile subscribers of its rivals KT and LG Uplus on July 19.KT and LG Uplus subscribers can now use the app for free. T-map boasts 18 million subscribers, among which around 8 million use it on a monthly basis.“The decision t

July 19, 2016

Committee for UHD broadcasting launched in Korea

[THE INVESTOR] The Korea Communications Commission, the state media regulator, said that a preparation committee for starting ultra-high definition broadcasting in Korea was launched on July 19.The committee consists of 14 members from the government agencies, TV makers, research institutes, and academia, including the Ministry of Science, ICT and Future Planning, Samsung Electronics, and LG Electronics.Lee Ki-joo, a standing committee member of the KCC, and Second ICT Vice Minister Choi Jae-yoo

July 19, 2016

SK Telecom, CAT to set up JV for Thai e-payment market

[THE INVESTOR] SK Telecom will join hands with Thailand’s CAT Telecom and enter the Southeastern country’s electronic payment market, Thai daily The Nation reported on July 19. Surapant Meknavin, acting president of the public enterprise, acknowledged that the two telecom operators will set up a joint venture to provide an e-payment gateway service. SK Telecom will own 51 percent of the JV, reportedly named Tree Pay, with registered capital of 200 million baht (US$5.72 million). Scheduled to be

July 19, 2016

Korea to invest W12.5b in ‘soft robots’

[THE INVESTOR] The Ministry of Science, ICT and Future Planning said July 19 that the ministry will invest a total of 12.5 billion won (US$11 million) in the field of bio-inspired robotics, often called “soft robotics,” over the next seven years. Soft robots are highly flexible and look like sea creatures. The research aims to build machines that handle tasks impossible with traditionally designed robots. A stingray-shaped bio hybrid robot (left), a joint research project of Korea’s Sogang Unive

July 19, 2016

[EXCLUSIVE] Samsung to adopt loyalty rewards program for Samsung Pay users

[THE INVESTOR] Samsung Electronics is seeking to lure more users to its mobile payment service Samsung Pay with a new loyalty rewards program, tentatively called Samsung Pay Rewards, industry sources said on July 19. The Korean tech giant has been pouring resources into expanding Samsung Pay’s presence globally, which it believes is crucial for its device sales. Since its launch in August 2015, the number of subscribers has reached 2.5 million globally, with the total transaction volume surpassi

July 19, 2016

Nexon to release ‘Chaos Chronicle’ in 136 countries next month

[THE INVESTOR] Nexon will release its new mobile role-playing game “Chaos Chronicle” in 136 countries, it announced on July 16. China was not included in the list. Developed by Wing Studio, this horizontal scroll game collects and nurtures 103 heroes into the strongest team, and is available in eight languages including Korean, English, Japanese, and Thai.NexonIn advance to the official release, pre-registration is available at the game’s website https://ccc.nexon.com until Aug. 3. All the regis

July 19, 2016

Naver’s online platform beckons illustrators

[THE INVESTOR] Grafolio, Naver’s online platform for creative contents, will host a Global Storypic Challenge to discover illustrators from around the world, it announced on July 19. Applicants are required to choose a theme on their own and upload an illustrated story, with more than 20 episodes, on Grafolio by Sept. 18. A total of 10 creators will be selected to post their works on the official pages and receive US$10,000 each to support their creative activities. Grafolio offers services in e

July 19, 2016

Kakao, K Cube Venture to invest W30b in emerging game start-up

[THE INVESTOR] Mobile messenger operator Kakao and K Cube Venture, an early-stage venture capital, will jointly invest 30 billion won ($26.4 million) in Shiftup, a game company.Shiftup was established by art director Kim Hyeong-tae, who participated as an art director in the development of mobile game “Blade & Soul.” The game start-up has recently received the limelight with a hit trailer for mobile game “Destiny Child” which it is currently developing with game firm Nextfloor. Well-known illust

July 19, 2016

Kakao invests in POS system developer

[THE INVESTOR] Mobile messenger operator Kakao said July 19 that it has acquired 20 percent of start-up CNT Tech, which develops systems that receive orders from customers and transfer them to POS systems at the nearby stores.The start-up has also developed its own POS system which is compatible with any network environment and can be utilized for any business in an easy manner, the mobile messenger firm said.The 10-year old start-up which has built up its expertise in e-commerce and POS sector

July 19, 2016

LG Electronics launches W40m OLED TV

[THE INVESTOR] LG Electronics on July 19 unveiled a new 77-inch organic light-emitting diode TV with a hefty price tag of 40 million won (US$35,000), the latest model of its ultra-premium Signature brand that was launched in March. LG said it plans to launch the newest TV in phases in other markets such as North America, Europe and Asia with aims to strengthen its leadership in the premium TV market. LG Electronics' new 77-inch organic light-emitting diode TV / LG ElectronicsThe highest-priced O

July 19, 2016

Korea’s first generation start-up entrepreneur acquires Cyworld

[THE INVESTOR] Jeon Je-wan, a Korean first generation start-up entrepreneur, has acquired Cyworld, a social networking service considered a trailblazer in the SNS sector in Korea.Cyworld said on July 19 that Jeon, the head of streaming service Air, has recently taken over the firm after acquiring 100 percent stake in the company previously held by 29 shareholders. The exact cost of the takeover deal was not revealed, but it is estimated to be less than 1 billion won ($881,000).Jeon founded Web p

July 19, 2016

Korean mobile users more engaged on Facebook than Kakao Story

[THE INVESTOR] Korean mobile users spend more time on Facebook than any other social network services here, including the most popular Kakao Story. According to a recent survey by local market research firm WiseApp, Facebook users here spend a combined 5 billion minutes per month, which compares to 1.2 billion minutes of Kakao Story and 1.7 billion minutes of Band that is owned by Naver. The firm conducted the survey on 14,439 Android smartphone users in June. The number of Facebook users in Kor

July 19, 2016

German TV firm Metz to adopt LG Display’s OLED panels

[THE INVESTOR] LG Display has added a new customer for its organic light-emitting diode display -- German-based TV manufacturer Metz TV.Metz -- owned by Chinese TV maker Skyworth -- will reportedly become LG’s 10th client for OLED panels. The German firm recently said that it would roll out an ultra-high definition OLED TV in September 2016, supporting high-dynamic-range -- a video solution for improving brightness and contrast levels. LG Display’s OLED display. LG DisplayThe Korean display firm

July 19, 2016