The emerging technology augmented reality is showing immense potential in the digital world especially after the success of “Pokemon Go,” a location-based AR mobile game.AR, in fact, is nothing new. But the game has brought the technology another step closer to reality, pushing companies and governments to commercialize AR by integrating it with unique content.In movies and science fiction, AR -- the incremental technology from virtual reality that can be further developed into holograms -- has

Technology July 29, 2016

(Yonhap)The South Korean government will expand through a legal revision its policy to provide more tax breaks for corporate research and development costs and employment as a means to develop the country’s next growth engines and boost job creation.The Finance Ministry announced Thursday it would have the high-income group and conglomerates pay more taxes while easing the tax burden on the low- and middle-income brackets and small businesses.“This is in line with efforts to run a reasonable and

July 28, 2016

[THE INVESTOR] The South Korean government will expand through a legal revision its policy to provide more tax breaks for corporate research and development costs and employment as a means to develop the country’s next growth engines and boost job creation.The Finance Ministry announced Thursday it would have the high-income group and conglomerates pay more taxes while easing the tax burden on the low- and middle-income brackets and small businesses. The Ministry of Strategy and Finance.“This is

July 28, 2016

South Korea’s consumer sentiment index rebounded toward its previous high over three months in July, as concerns over corporate restructuring and the Brexit vote both at home and abroad fell, following policy measures to cushion the economy from possible shocks.The consumer sentiment index stood at 101 this month, up 2 points from a month before, the Bank of Korea said Wednesday.Along with the April sentiment at 101, the July index marks the highest since December last year when it stood at 102.

July 27, 2016

[THE INVESTOR] Finance Minister Yoo Il-ho said Wednesday that the government will deal with the laborers of conglomerates under a creditor-led workout going on strike. In an economic-related ministerial meeting in Seoul on Wednesday, the finance minister said that he was concerned that some conglomerates’ workers are protesting when they should instead be working together to overcome the difficulties of restructuring ahead. Finance Minister Yoo Il-ho attends ministerial meeting on July 27. “They

July 27, 2016

Finance Minister Yoo Il-ho said Wednesday that the government will deal with the laborers of conglomerates under a creditor-led workout going on strike. In an economic-related ministerial meeting in Seoul on Wednesday, the finance minister said that he was concerned that some conglomerates’ workers are protesting when they should instead be working together to overcome the difficulties of restructuring ahead.“They are only making contractors and nonregular workers uneasy. Their act, which is onl

July 27, 2016

[THE INVESTOR] South Korea’s economy grew 0.7 percent in the second quarter of this year, remaining in zero percent growth territory for three straight fiscal quarters, according to the Bank of Korea on Tuesday.Even though the country’s second-quarter growth exceeded that of the first quarter when Asia’s fourth largest economy expanded merely 0.5 percent, Korea’s economy performed slightly better mostly due to improved domestic consumption backed by government policies.Other key drivers of growt

July 26, 2016

South Korea’s economy grew 0.7 percent in the second quarter of this year, remaining in zero percent growth territory for three straight fiscal quarters, according to the Bank of Korea on Tuesday.Even though the country’s second-quarter growth exceeded that of the first quarter when Asia’s fourth largest economy expanded merely 0.5 percent, Korea’s economy performed slightly better mostly due to improved domestic consumption backed by government policies.Other key drivers of growth such as gover

July 26, 2016

South Korea will extend its trading hours for its equities, derivatives, gold futures and foreign exchange markets from Aug. 1 to boost its financial market status in line with the Morgan Stanley Capital International standards.The Korea Exchange, the country’s quasi-independent stock market operator, said Sunday that the stock and bullion markets’ trading hours will be extended by 30 minutes, enabling investors to buy and sell them between 9 a.m. and 3:30 p.m. Foreign exchange brokers will also

July 24, 2016

[THE INVESTOR] Bank of Korea Gov. Lee Ju-yeol urged Korean banks to pay attention to asset quality in their balance sheets and manage them well amid a gloomy market outlook.In a meeting with bank executives on Thursday, the country’s top monetary policymaker said the ongoing restructuring of debt-laden shipping and shipbuilding companies as well as low interest rates are expected to weigh on banks’ profitability.Bank of Korea Gov. Lee ju-yeolThis calls for commercial banks to push efforts to mai

July 21, 2016

Bank of Korea Gov. Lee Ju-yeol urged Korean banks to pay attention to asset quality in their balance sheets and manage them well amid a gloomy market outlook.In a meeting with bank executives on Thursday, the country’s top monetary policymaker said the ongoing restructuring of debt-laden shipping and shipbuilding companies as well as low interest rates are expected to weigh on banks’ profitability.This calls for commercial banks to push efforts to maintain financial soundness.“Concerns are growi

July 21, 2016

[THE INVESTOR] The number of those in their 60s who got hired in the second quarter of this year exceeded those in their 20s for the first time in two years, according to Statistics Korea on on July 20.As life expectancy increases and employees seek to push back retirement as companies adopt a wage peak system, a growing number of elders are looking to either remain in the workforce as long as they can or try to reenter the labor market to further prepare for their postretirement.The number of t

July 20, 2016

The number of those in their 60s who got hired in the second quarter of this year exceeded those in their 20s for the first time in two years, according to Statistics Korea on Wednesday.As life expectancy increases and employees seek to push back retirement as companies adopt a wage peak system, a growing number of elders are looking to either remain in the workforce as long as they can or try to reenter the labor market to further prepare for their postretirement.The number of those employed in

July 20, 2016

Jeong Eun-bo, the vice chairman of the Financial Services Commission, said Wednesday that a task force will be set up to foster constant communication with foreign financial companies operating in the country and address their needs.This comes as the state financial regulator is concerned over an increasing number of foreign financial companies folding their businesses and exiting the Korean market amid a gloomy outlook and decreasing profitability.In a meeting with executives of foreign financi

July 20, 2016

[THE INVESTOR] Bank of Korea Gov. Lee Ju-yeol said Tuesday that the central bank will maintain its monetary easing to support the economy, but its policy alone is not enough to counter possible instability on growing economic uncertainties.In a conference on the monetary policies of small open economies, the country’s top monetary policymaker said that an effective mix of macroeconomic policies are needed to manage financial risks and carry out structural reform.“There are limits to facing multi

July 19, 2016

Bank of Korea Gov. Lee Ju-yeol said Tuesday that the central bank will maintain its monetary easing to support the economy, but its policy alone is not enough to counter possible instability on growing economic uncertainties.In a conference on the monetary policies of small open economies, the country’s top monetary policymaker said that an effective mix of macroeconomic policies are needed to manage financial risks and carry out structural reform.“There are limits to facing multiple economic ch

July 19, 2016

When the global consumer tech market thought smartphones had run dry and become a commodity, Samsung Electronics proved it wrong by announcing that its operating profit reached over 8 trillion won ($7.04 billion) for the first time in two years.Samsung’s stock prices have also reached historic highs. On July 14, it hit 1.5 million won for the first time in a year and four months. On July 18, it closed at 1.53 million won. Given that Samsung Electronics boasts the largest market capitalization, i

Technology July 18, 2016

[THE INVESTOR] When the global consumer tech market thought smartphones had run dry and become a commodity, Samsung Electronics proved it wrong by announcing that its operating profit reached over 8 trillion won for the first time in 2 years.Samsung Electronics' flagship store in Seocho-dong, southern SeoulSamsung's stock prices have also reached historic highs. On July 14, they hit 1.5 million won (US$1316) for the first time in a year and four months. On July 18, it closed at 1.53 million won.

July 18, 2016