The Korea Herald

KakaoTaxi calls hit 5 million mark

Daum Kakao, South Korea’s leading search engine, said Monday its taxi app KakaoTaxi had received more than 5 million calls since its introduction in March. According to the company, the nationwide service has 110,000 drivers and daily calls for taxis have hit 150,000 per day. The smartphone-based taxi-hailing app was launched on March 31 after its U.S. rival Uber suspended its budget services due to resistance from local governments and taxi drivers. Unlike Uber which uses unlicensed, crowd-sour

Technology July 6, 2015

SK C&C builds Bangladesh’s e-government network

SK C&C, South Korea’s IT service provider, said Monday it recently completed Bangladesh’s online national network system, paving the way to expand the country’s e-government services. The company, an affiliate of SK Group, secured the 32 billion won ($29 million) project in 2012, which aims to connect 368 websites of the central government and public organizations through a single Internet-based network. In Bangladesh, public information used to be managed separately across local governments, bu

Technology July 6, 2015

LG Display to produce world’s thinnest touch screen for laptops

LG Display said Monday it would start mass producing the world’s thinnest full LCD touch screen for laptops, which combines the LCD and touch sensor and allows slimmer device design, from later this year.Unlike existing “add-on” touch screen technology that puts a touch panel as an extra layer on the LCD panel, the company’s Advanced In-cell Touch or AIT technology has the touch sensor layer embedded in the LCD. The in-cell type display, which doesn’t require additional cover glass, not only red

Technology July 6, 2015

LG Display to produce world’s thinnest touch screen for laptops

Samsung C&T hits back at ISS merger report

Samsung C&T on Sunday rebuffed a report by global shareholder adviser Institutional Shareholder Services that recommended its shareholders to oppose the proposed merger with Cheil Industries, the de facto holding company of Samsung Group. Samsung’s construction and trading unit said it was concerned that the report would mislead investors. “Despite the projection of a 22.6 percent stock plunge in the case of a merger failure, the ISS report recommended Samsung C&T shareholders to vote against th

Industry July 5, 2015

Samsung C&T hits back at ISS merger report

Samsung unveils measures to aid farming, tourism

Samsung Group on Thursday unveiled a set of new measures to support farming households and the tourism industry, both hit hard by a record drought and the outbreak of Middle East respiratory syndrome. The plans come after Samsung Electronics vice chairman Lee Jay-yong, the de facto leader of South Korea’s largest conglomerate, apologized last week for mishandling the MERS outbreak at a group-affiliated hospital. As part of the new plans, Samsung will purchase merchandise coupons worth 30 billion

Technology July 2, 2015

Court ruling boosts chances of Samsung merger

The headquarters of Samsung C&T in southern Seoul YonhapA South Korean court on Wednesday rejected an injunction request by U.S. hedge fund Elliott Associates to block a proposed merger of two Samsung Group affiliates, paving the way for the deal proceedings crucial for the group’s leadership transition. Elliott, the third-largest shareholder of Samsung C&T, the group’s construction and trading unit, filed two injunctions early this month, asking the court to stop a shareholder vote on July 17 o

Industry July 1, 2015

Court ruling boosts chances of Samsung merger

[Photo News] LG Global Challenger

LG Group chairman Koo Bon-moo (left) delivers the emblem of LG Global Challenger, a fully funded overseas study and exploration program for college students, to student representatives at the group’s headquarters in Yeouido-dong, western Seoul, on Wednesday. This year’s program has selected 140 students of 35 teams. LG Group　

Technology July 1, 2015

Qualcomm to pump W100b into Korean tech start-ups

Qualcomm, the U.S. chipmaker, said Wednesday it would invest up to 100 billion won ($90 million) in Korean technology start-ups in a move to help foster innovation and entrepreneurship in the Korean economy. The announcement was made when executive chairman Paul Jacobs visited Korea this week to celebrate the company’s 30th anniversary and 25 years of strong relations with Korea. The company said it intends to expand its involvement in the Korean start-up scene with both direct and indirect inve

Technology July 1, 2015

Qualcomm to pump W100b into Korean tech start-ups

[Photo News] Seoul-Qualcomm partnership

Technology June 30, 2015

[Photo News] Miele 10th anniversary in Korea

Technology June 30, 2015

Samsung Electronics to offer two-year maternity leave

Samsung Electronics said Tuesday it will start a new paid leave system from July, including a two-year maternity leave. Under the scheme, the Korean tech giant will extend the length of maternity leave to two years from the current legally-binding one year. Still, maternity payments will remain the same, as only the first year is to be compensated, the company said. In Korea, a two-year maternity leave is rarely seen except for some special jobs, such as for flight attendants. Samsung has bolst

Technology June 30, 2015

Shareholders approve merger of 2 SK firms

Shareholders of SK Holdings and SK C&C on Friday approved the proposed merger between the two companies, paving the way for SK Group, the nation’s third-largest conglomerate, to streamline its business structure and reportedly strengthen the influence of the de facto owner family that includes group chairman Chey Tae-won. Following the approval, a new entity ― retaining the name SK Holdings ― is set to be launched on Aug. 1. Its asset value is estimated to reach 13.2 trillion won ($12 billion).

Industry June 26, 2015

Jejudo to promote IT, tourism

The South Korean government on Friday opened its 13th creative economy center on Jejudo Island, with aims to transform the southernmost resort island into an IT and tourism accelerator.A 156.9 billion won ($140 million) fund will also be set up to support related projects, including nurturing start-ups and venture firms, through the Jeju Center for Creative Economy and Innovation.Daum Kakao, the Korean search giant headquartered on the island, will help create collaborative working space for tec

Technology June 26, 2015

Elliott aims to exert votes by proxy to fight Samsung's merger bid

U.S. hedge fund Elliott Management said Wednesday it hopes minority shareholders will give their proxy votes to the fund for its fight against Samsung Group‘s move to merge two key units.Samsung C&T Corp., the construction arm of South Korea’s top conglomerate, Samsung Group, has been embroiled in a legal battle with Elliott since early this month as the fund voiced its opposition to an 8.9 trillion won ($8.09 billion) takeover offer by Cheil Industries Inc., the de facto holding firm of the con

Industry June 24, 2015

[Newsmaker] U.S. retailers pull Confederate flag

WASHINGTON -- Walmart and Amazon will no longer stock merchandise bearing the Confederate flag after the Charleston church massacre, in a growing movement against what critics say is a symbol of racism in the American South.The retail giants were joined by eBay, Sears and Kmart and follows calls from South Carolina state governor Nikki Haley to remove the controversial flag from the grounds of the state capital following protests at the weekend.Civil rights activists have long pushed for the fla

World News June 24, 2015

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