South Korea's three mobile carriers -- SK Telecom Co., KT Corp., and LG Uplus Corp. -- said Saturday they began taking preorders for Samsung Electronics Co.'s latest Galaxy Note 7, which is expected to hit the local market later this month.South Korean customers can preorder the smartphone on the operators' web sites. Preorders for the newest Galaxy phablet can also be made at the mobile carriers' local retail stores.The Galaxy Note 7 with 64GB of capacity is priced at around 988,900 won (US$880

Technology Aug. 6, 2016

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

The Korean economy has hit a wall. Conventional management methods have run their course. Aging systems, where corporate owners run their businesses with employees accustomed to their ironclad control, no longer work and are making it difficult to find new opportunities and growth in this digital age.This is where Christopher Han comes in with SAP Design & Co-Innovation Center in Pangyo.Christopher Han, vice president of Design & Co-Innovation Center (Park Hyun-koo/The Korea Herald)The DCC chief

Business July 15, 2016

[THE INVESTOR] Faced with economic challenges from slow growth, market restructuring and an aging population, China is expected to negatively affect the prospects of the Korean economy in the mid to short term, said Brian Jackson, a senior economist at IHS, a global business analytics provider. “China’s slowing growth by itself is a negative for Korea, given Korea is exposed to Chinese domestic demand, supply chains, and the same global factor impacting China – sharply slower growth in global tr

July 11, 2016

Fiscal policymakers of South Korea and the U.S. reaffirmed their strategic alliance against the potential threat from North Korea using the international financial system.In the first meeting between the finance chiefs of the two countries in Seoul on Friday since the G20 summit in 2010, U.S. Treasury Secretary Jacob Lew said that two sides will continue to collaborate in dealing with and resolving any financial matters concerning the North.Lew’s visit to Seoul comes after the U.S. Treasury Depa

June 3, 2016

CAIRO (AP) — An EgyptAir flight from Paris to Cairo with 66 passengers and crew on board crashed in the Mediterranean Sea off the Greek island of Crete early Thursday morning, Egyptian and Greek officials said. A frosted glass partition is seen at the EgyptAir counter at Charles de Gaulle Airport outside Paris, France, Thursday, May 19, 2016. EgyptAir said a flight from Paris to Cairo disappeared from radar early Thursday morning. (AP)Egyptian Prime Minister Sherif Ismail said it was too early t

World News May 19, 2016

South Korean retail giant Lotte Group's hotel unit said Thursday it will go public on the KOSPI market on June 29, which is expected to fetch over 5 trillion won ($4.19 billion) to mark as the nation's largest-ever initial public offering.Hotel Lotte Co. said in a regulatory filing that it will offer 47.85 million shares at a range between 97,000 won to 120,000 won per share. Hotel Lotte (Yonhap)The offering is estimated to be around 4.6 trillion to 5.7 trillion won, and its medium range of pric

May 19, 2016

South Korea’s Deputy Prime Minister and Finance Minister Yoo Il-ho said that the government will seek to host annual conferences for the Asian Infrastructure Investment Bank in 2017 and the African Development Bank in 2018.In a meeting with economic-related ministers in Seoul on Thursday, Finance Minister Yoo said this comes as Asia’s fourth-largest economy seeks to expand its presence in international aid and development financing. Finance Minister Yoo Il-ho (Yonhap)“Korea needs to further expa

May 12, 2016

Korea is expected to launch a task force team consisting of officials from finance and regulatory agencies to exchange opinions and discuss ways to increase the capital base of state-run policy banks for massive restructuring of cash-strapped shipping and shipbuilding companies.This comes as the Financial Services Commission, the financial regulatory policymaking body, unveiled its initial plan to launch creditor-led debt restructuring last week, citing the need to increase capital buffers of th

May 1, 2016

The U.S. inclusion of Korea in the foreign exchange monitor list will not affect Seoul’s monetary policy, Korean economic policymakers said Sunday. “As Korea avoided the manipulator designation, there won’t be any significant changes in the foreign exchange polices,” Finance Minister Yoo Il-ho was quoted as saying. Finance Minister Yoo Il-ho (Yonhap)“Although Korea is included on the monitoring list, this always happens with the U.S. department. There will be no changes (in the country’s policie

May 1, 2016

South Korea’s Finance Minister Yoo Il-ho has called for rapid and aggressive restructuring of companies under heavy debts to ensure that this does not negatively affect the capital market and household consumption.In an economic-related ministerial meeting on Thursday, the finance minister also urged other officials to draw up countermeasures and support mechanisms against the expected massive layoffs from companies that are about to go through creditor-led debt reduction. He urged agencies to i

April 28, 2016

The Korean government will accelerate fiscal reforms to better manage its tax revenue and budget through efficient capital allocation and planning as a means to boost its preparedness against slower growth and higher national debt.(Yonhap)In a meeting presided over by President Park Geun-hye at Cheong Wa Dae on Friday, the government will seek stronger fiscal discipline to ensure that its taxpayer money will not be wasted in the face of growing economic uncertainties.The Ministry of Finance said

April 22, 2016