Local carriers look to take share of global market expected to reach $44.2b in 2013Korea’s telecom carriers are jumping on the cloud computing market to meet growing demand for software, platform and data storage in service. SK Telecom Co., Korea’s top wireless carrier, said Monday it will open a cloud service center that will allow small and mid-sized firms to use high-capacity computing resource

Industry Jan. 17, 2011

Hyundai Oilbank Co. has recently completed the construction of its second heavy oil upgrading plant as local refineries are racing to get an edge in the high value-added market.The country’s smallest refiner said on Sunday the new facility located in Daesan, South Chungcheong Province, will enter full operation in mid-May after a four-month test run. The company has invested 2.6 trillion won ($2.3

Industry Jan. 16, 2011

Nation’s biggest mobile carrier also plans to release up to five tablet PCsSK Telecom Co., Korea’s No. 1 mobile operator, said on Thursday it plans to roll out around 30 new smartphones and up to five tablet computers this year, aiming to lead the rapidly evolving market of smart devices.Its new smartphone lineup includes LG Electronics’ Optimus 2X, Samsung Electronics’ Personal Media Phone, Motor

Industry Jan. 14, 2011

Samsung Group, Korea’s top conglomerate, said Thursday it has launched an English blog to boost communications with users around the world. The Samsung Village (www.samsungvillage.com) is designed to introduce the group’s history and business, and offer open forums where local and foreign visitors can share their views and opinions about news and human interest stories, the group said.“Digital med

Industry Jan. 13, 2011

Lotte, Shinsegae, Hyundai speed up expansion of Internet, mobile businessesKorea’s large retailers are gearing up for intensifying competition online as virtual marketplaces grow on the back of popular mobile computing and social media.Lotte Shopping, Shinsegae Group and Hyundai Department Store are strengthening their Internet and mobile business operations with plans to open new shops, broaden p

Industry Jan. 13, 2011

Ha focuses on speed, openness and collaborationSK Telecom Co., the nation’s top mobile carrier, will speed up its transition to the next-generation network and boost cooperation with application developers and suppliers, its new chief executive said on Wednesday.In his first news conference since taking office on Jan. 1, Ha Sung-min, 54, unveiled a new management strategy focused on speed, opennes

Industry Jan. 13, 2011

After a year of fiery growth, micro-blogging site Twitter is seeing a sharp drop in traffic in Korea while social networking hotspot Facebook continues to grow, figures show. According to Internet market research firm KoreanClick on Monday, Twitter’s page views in the last week of 2010 fell to about 25 million from nearly 45 million three months ago. The number of unique visitors ― people who visi

Industry Jan. 11, 2011

  Samsung chairman pledges investment, mutual growthSamsung Electronics chairman Lee Kun-hee reiterated his commitment to aggressive investment and mutual growth with suppliers in his New Year address Monday.      Lee Kun-heeIn a speech at a ceremony with about 1,200 executives in Seoul, Lee emphasized the importance of future growth engine businesses. “Ten years from now will be the challenge per

Industry Jan. 4, 2011

Samsung Electronics has sold more than 10 million units of its Galaxy S smartphone worldwide since its debut in June, the company said Monday.Four million were sold in North America, 2.5 million in Europe and 2.2 million in Korea.The figure is nearly twice the number of smartphones it sold in 2009. The world’s second-largest handset maker said the Galaxy S’ popularity is growing at a fast pace. It

Industry Jan. 3, 2011