CARD ISSUERS GET SMART -- Samsung Electronics said Tuesday that it would collaborate with 10 credit card companies to nurture the Samsung Pay mobile payment service. Executives from the tech giant and the card firms, including KB Kookmin Card, Woori Card and Samsung Card, pose at a meeting to map out ways to work together on the mobile payment system in Seoul, Tuesday. (Samsung Electronics)

Technology Aug. 18, 2015

SK Group is considering pouring about 46 trillion won ($38 billion) over the next few years to expand the production facilities of its chipmaking unit SK hynix, officials said Monday.The large-scale investment move came after group chairman Chey Tae-won returned to management after being released from jail following a special presidential pardon last week.Before presiding over a meeting with CEOs across group affiliates on Monday, Chey said, “I will have to move quickly and make on-site visits.”

Technology Aug. 17, 2015

South Korea’s top display-maker LG Display said Monday it would invest 10 trillion won ($8.5 billion) in OLED production by 2018, pledging a strategic shift to focus on the still nascent but lucrative display technology.The new investment plan was announced as part of the 20th anniversary of its LCD production at its plant in Paju, Gyeonggi Province. During the ceremony, LG Display CEO Han Sang-beom hinted at pouring considerable resources into OLED in the coming years, pinpointing the latest di

Technology Aug. 17, 2015

South Korea’s largest conglomerate, Samsung Group, said Monday it would create about 30,000 new jobs for young workers over the next two years.For this, Samsung will make investments worth around 100 billion won ($84.5 million) to provide vocational and educational opportunities, the officials said. Samsung Group`s headquarters in Seoul. (Yonhap)Samsung’s move is in line with the government’s efforts to improve the youth job market.“Samsung will fulfill its responsibility to society by contribut

Technology Aug. 17, 2015

South Korea’s leading fingerprint scanner maker CrucialTec said Monday that its fingerprint module business would continue to gain traction during the rest of this year thanks mainly to the burgeoning Chinese biometrics market. The Pangyo-headquartered firm said in its regulatory filing it would rake in around 285 billion won ($240 million) in revenue in the latter half of this year, up 280 percent compared to the same period last year. CrucialTec CEO Charles Ahn poses with fingerprint modules a

Technology Aug. 17, 2015

LG EYES MIDDLE EAST MARKET -- South Korean tech giant LG Electronics said Monday it would step up its marketing efforts, targeting the high-end segment of the Middle Eastern market. The company has recently opened a premium retail store in Jordan following those in Iran and Lebanon, which were launched in the first half this year. (LGE) LG EYES MIDDLE EAST MARKET -- South Korean tech giant LG Electronics said Monday it would step up its marketing efforts, targeting the high-end segment of the Mi

Technology Aug. 17, 2015

KT RUNS PROMOTION FOR NEW GALAXYS -- South Korea’s leading mobile carrier KT launches experience zones for Samsung Electronics’ new phablets -- Galaxy Note 5 and Galaxy S6 Edge Plus -- at its retail stores across the nation on Monday. (KT)

Technology Aug. 17, 2015

The nation's top two battery-makers LG Chem and Samsung SDI said Thursday that they would work together with German luxury carmaker Audi to develop battery-powered sports utility vehicles that could travel up to 500 kilometers on a single charge. Releasing separate announcements on the day, the two firms said they would supply batteries for Audi’s next-generation electric cars.“The partnership on Audi’s new project for EVs indicates the firm’s leadership in the EV battery market has been recogni

Business Aug. 13, 2015

　Leading IT solutions developer SAP Korea said Thursday it would step up efforts to develop systems that can bring positive changes to sports and health care industries.　Holding the “Hyper Connected Healthcare Conference in Seoul,” the company offered visions to deploy big data and cloud technologies in the two sectors.　“The advancement in Internet of Things technologies has brought innovations in multiple industries and fields,” said Hyoung Won-joon, managing director of the Korean office of SA

Technology Aug. 13, 2015

　President Park Geun-hye granted special pardons Thursday to 14 convicted businessmen including SK Group chairman Chey Tae-won and some 6,500 people to mark the 70th anniversary of Korea’s Liberation Day on Aug. 15.　The Liberation Day pardons for the high-profile business tycoons are aimed at propping up the sagging economy, hit hard by the outbreak of the Middle East respiratory syndrome, and a protracted slump in exports.　“I have decided to grant special pardons in order to help forge national

Industry Aug. 13, 2015

    A number of trade shows, festivals, and conferences are held every year in a wide range of business sectors in South Korea. However, not a single event brings music, film and tech industries all together under one roof. That is going to change soon.　The +822 Summit conference -- to be held from Oct. 28 to 30 at Dongdaemun Design Plaza, an exhibition and cultural center in Seoul -- will serve not only as a cross-industry networking platform, but also as a bridge that links global investors an

Technology Aug. 12, 2015

From electronics makers to automotive manufacturers, businesses from more diverse backgrounds are jumping in the Internet of Things sector utilizing the fast network infrastructure. Hans Vestberg, president and chief executive of ICT infrastructure developer Ericsson, said that such increasing participation of different market players would create a bigger “opportunity” down the road. Ericsson CEO Hans Vestberg (right) and Arun Bansal, head of the Swedish firm’s business unit radio division atte

Technology Aug. 12, 2015

Payment system developer Pocket Mobile has won an award at this year’s Red Dot Award for its mobile ordering system Pocket Order.The Red Dot Award is one of the world’s most influential design product competitions, along with the iF Design Award and the IDEA awards. Mobile ordering solution Pocket Order. 　(Pocket Mobile)The start-up won a prize in the Communication Design segment, which recognizes innovative product designs and concepts in a wide range of fields including game design, online com

Technology Aug. 12, 2015

Tech giant Samsung Electronics said Tuesday it has successfully mass-produced a 256Gb vertical NAND flash memory for the first time in the world.The new vertical NAND, or V-NAND, flash chip stacks 48 layers of memory cells and is used for solid state drives, an advanced storage system for laptops and data servers. Samsung Electronics` 48-layer 256Gb vertical NAND flash memory. (Samsung)“With the introduction of our third generation V-NAND flash memory to the global market, we can now provide the

Technology Aug. 11, 2015

IT solutions developer SK Planet’s online payment service Syrup Pay is gaining traction as it saw transactions executed through the system increase fourfold since its launch in April.The total amount of transactions processed on Syrup Pay crossed the 60 billion won ($51.4 million) mark this month, up from 5 billion won recorded during the first month of its operations, according to SK Planet on Monday. IT solutions developer SK Planet said Monday that transactions processed on online payment sys

Technology Aug. 10, 2015