[THE INVESTOR] LG CNS, the IT solutions unit of LG Group, is renewing its commitment to creating a smart firm complex in Saemangeum, North Jeolla Province, amid fierce resistance from farmers in the adjoining areas. “It is true we are having problems in carrying out the project due to resistance from farmers’ group. But we have no plan to withdraw the project,” an LG CNS official was quoted as saying by a local news outlet on Aug. 10. The rendering image of LG CNS’ smart farm complex, called Sma

Aug. 10, 2016

[THE INVESTOR] Nexon, South Korea's largest gaming company, posted a 42 percent plunge in its second-quarter net profit from a year ago largely due to the strong Japanese yen. Nexon Japan, which is listed on the Tokyo bourse, said net profit decreased to 7.56 billion yen (US$750,000) during the April-June period on year. The Japanese unit holds a 100 percent stake in Nexon Korea.Revenue was also down 11 percent to 38.12 billion yen. The company said without considering the unfavorable foreign ex

Aug. 10, 2016

[THE INVESTOR] Jaguar Land Rover Korea, the Korean unit of the UK luxury carmaker, is considering legal action against Ticket Monster, a local daily-deal site that recently sold 20 Jaguar cars on its online website. “We are selling cars in Korea through nine official dealers only. We have never discussed selling cars through a social commerce site,” said an official of Jaguar Land Rover Korea. “We are considering legal action for damage to our brand value and image and consumer confusion.” Jagua

Aug. 10, 2016

[THE INVESTOR] SK Group, the nation’s third-largest conglomerate, is considering selling off its money-losing solar power business that has been conducted by its semiconductor and display material unit SKC Solmics. SKC Solmics confirmed the sell-off plan in a regulatory filing on Aug. 9. SK Group headquartersIndustry watchers predict the company could sell the business to a third party or just withdraw from the market. SKC Solmics entered the solar power market in 2010, producing wafers for sola

Aug. 9, 2016

[THE INVESTOR] Korean Internet giant Naver on Aug. 9 launched its new translation app Papago that offers services in four languages, including Korean, Japanese, Chinese and English. The app translates text, speech and images into the target language. Words with several meanings come with related images to prevent mistranslation. The app is currently available on the Android OS only and is scheduled to launch its Apple iOS version in September. “We will take on global rivals with our own artifici

Aug. 9, 2016

[THE INVESTOR] Seoul Semiconductor, the nation’s leading light-emitting diode maker, is investing US$300 million in Vietnam to build a new LED and chip plant there. According to industry sources on Aug. 9, the company recently got approval from the regional government for the construction.The new plant will be located on a 75,000 square-meter site in the northern province of Ha Nam by 2019. About 3,000 people are expected to be hired.  Seoul Semiconductor headquarters.The company said it aims to

Aug. 9, 2016

[THE INVESTOR] Samsung Electronics’ Galaxy Note 7 will hit the European market next month after a yearlong hiatus. According to industry sources on Aug. 9, the new Note phablet will be launched in Europe on Sept. 2, with the preorders starting from Aug. 16. Samsung skipped Europe for the predecessor Note 5 launch last year to focus more on key markets such as Asia and the US for the bigger-screen phone. Samsung’s mobile business chief Koh Dong-jin poses with the Galaxy Note 7 during an unpack ev

Aug. 9, 2016

[THE INVESTOR] Samsung Electronics’ new smartphone Galaxy Note 7 saw more than 200,000 preorders over the past two days, double that of its S7 sibling, industry data showed on Aug. 9. The preorder figure is the highest-ever for a Galaxy phone. The latest Note, unveiled on Aug. 2, boasts diverse new features such as an iris scanner for unlocking the handset, a curved screen, waterproof and upgraded pen functions.  Samsung Galaxy Note 7Samsung’s aggressive marketing is also playing a role in attra

Aug. 9, 2016

[THE INVESTOR] Samsung Display, the display-making unit of  Samsung Electronics, is facing supply constraints amid soaring Chinese demand for its organic light-emitting diode panels. According to Taiwan-based Digi Times, China’s budget smartphone maker Oppo may fall short of its revised goal of shipping 90 to 100 million smartphones this year due to insufficient supply of OLED panels from Samsung.  Oppo R9 smartphone that uses Samsung Display’s OLED display screenThe newspaper added Oppo has alr

Aug. 8, 2016

[THE INVESTOR] Samsung Electronics is seeking partners to jointly develop nine key technologies such as fingerprint-proof coating, quick-charging and social network service analysis for its upcoming smartphones. Samsung Galaxy S7. Samsung is seeking partnership to prevent fingerprint smudges on touch-screen display and metal body.The company’s mobile business division recently announced the plan on Samsung’s website for global partnership management www.secbuy.com. It is the first time that the

Aug. 8, 2016

[THE INVESTOR] Tesla Motors, which is finalizing its entry plan into the Korean market possibly in November, is expected to see no benefits from the government’s consumer subsidies for electric vehicles. The Environment Ministry and provincial governments offer 12 million won (US$11,000) to 19 million won as subsidies for each EV purchase. But the benefits are given to a vehicle whose charging takes less than 10 hours with a 7 kilowatt-hour low-speed charger. Tesla Model STesla’s current two mod

Aug. 8, 2016

[THE INVESTOR] South Korea’s top mobile game provider Nexon and game maker Wingstudio have jointly launched "Chaos Chronicle," the latest role-playing game targetting mobile users in Asia, the companies said on Aug. 5.　　"Chaos Chronicle" is a 2D game and was initially designed to outcompete rival companies in Japan, known as the birthplace of 2D games, said Heo In-ho, ceo of Wingstudio.s. He also expressed confidence that the game will gain popularity in Asian countries where 2D games are favore

Aug. 5, 2016

[THE INVESTOR] Woongjin Foods is relaunching its own 815 Cola again after two failed attempts over the past decades. The company said on Aug. 5 it will reenter the nation’s 1 trillion won carbonate drink market with its refashioned 815 Cola and 815 Cider brands. The first Korea-made cola, named after the nation’s Liberation Day on Aug. 15, made its ambitious debut back in 1998 with an aim to take on the top two -- Coca-Cola and Pepsi. Its market share once soared to 13.7 percent. Woongjin Foods’

Aug. 5, 2016