Samsung to release Q2 operating profit on July 7

[THE INVESTOR] Tech giant Samsung Electronics will release its earnings for the April-June quarter on July 7.All eyes are now on whether its operating profit crosses the 8-trillion-won (US$6.9 billion) threshold for the first time in two years. The firm earned 8.5 trillion won in the first quarter of 2014.Samsung posted more than 8 trillion won of operating income for the seventh consecutive quarter since the third quarter of 2012. Its operating profit reached its peak in the third quarter of 20

July 4, 2016

Kakao opens flagship store for mobile characters in Gangnam

 [THE INVESTOR] Mobile messenger operator Kakao has opened its flagship store for character products based on its mobile stickers, called Kakao Friends, in the posh Gangnam district, Seoul, aiming to expand its clout in the mobile world into the retail realm.Despite the heavy rain in Seoul on Saturday, more than a thousand people formed a snaking line in front of the store on the opening day of the Kakao Friends Flagship Store.Kakao`s flagship store in Gangnam. KakaoAs Kakao ran a series of prom

July 3, 2016

Kakao launches KakaoGames for global push

[THE INVESTOR] Internet giant Kakao on July 1 announced the official launch of its renamed game unit KakaoGames following its shareholders’ approval the day before. The company said the branding renewal comes in order to elevate its global awareness and improve operational efficiency overall. The company aims, among other things, to expand its presence in the global market. Unlike its cross-town rival Naver that earns more than 35 percent of sales from overseas markets, Kakao has almost no prese

July 1, 2016

Korea tops average Internet speed worldwide: report

[THE INVESTOR] Korea has the highest average Internet connection speed in the world, according to a report by Akamai Technologies, a content delivery network provider headquartered in the US. The organization’s quarterly report, “State of the Internet,” showed that in the first quarter of the year Korea has four times faster average Internet speed at 29 Mbps, an 8.6 percent increase over the previous quarter. It was followed by Norway, Sweden, Hong Kong and Switzerland. The world average was 6.3

July 1, 2016

Qualcomm IT tour held for Korean engineering students

[THE INVESTOR] Qualcomm Korea held the 14th Qualcomm IT Tour for engineering students in Korea and invited them to its American headquarters as part of it efforts to update them on cutting-edge wireless technologies, the company said on June 30. A total of 25 Korean engineering students had a chance to meet with engineers and management from the firm and learn about the company’s mobile technologies.They also had a presentation in the presence of Derek Aberle, president of the company, and discu

June 30, 2016

SKT to develop 5G technologies with Deutsche Telekom, Ericsson

[THE INVESTOR] Korea leading network operator SK Telecom has signed a memorandum of understanding with Deutsche Telekom and Ericsson to develop core technologies for the next-generation network, or 5G.Through the partnership, the three will conduct trial tests of key 5G technologies including network functions virtualization(NFV), software-defined telecommunications infrastructure(SDTI), and distributed cloud, all of which will provide optimized end-user experiences, SKT said on June 30.The Kore

June 30, 2016

Google Maps told to censor defense facilities for full services in Korea

[THE INVESTOR] Korea’s Defense Minister Han Min-koo said Google Maps will be allowed to offer full services in the nation only if it censors core security facilities on its digital map.Earlier this month, the US Internet giant requested permission from the Ministry of Land, Infrastructure and Transport to get access to South Korea’s geographical data in a bid to make its flagship online maps’ services, such as the zoomed-in view of the satellite images, fully available in Korea.It was Google’s l

June 30, 2016

KT Music wins award for Asia’s best mobile music app

[THE INVESTOR] Network operator KT said June 30 that mobile on-demand music app genie, operated by its subsidiary KT Music, received an award at the Mobile World Congress in Shanghai, an annual mobile trade show.GSMA, the organizer of the mobile trade show, evaluated mobile music apps in Asia, and KT Music’s app received top scores in a range of categories including user experience, quality of content, and technology advancement. KT Music’s virtual reality music streaming platform genie VR. KT M

June 30, 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

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

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

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

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