In cooperation with mobile carrier SK Telecom, Korea Exchange Bank opened its first “smart bank” branch at Seoul Square in Namdaemun, Seoul, on Tuesday.The paperless bank uses an electronic documentation system, multi-financial service machine and video counseling with bank clerks, SK Telecom said. Dubbed the “Q’Plex Seoul Square Branch,” the bank’s “Smart Branch Device” is a banking machine equipped with the latest information and communication technologies, with which customers can process som

Technology Dec. 11, 2012

Apple may have turned Samsung into Frankenstein’s monster by entrusting it with the supply of iPhone components, a former employee of Apple’s strategy unit contended in a blog posting on Dec. 7. James Allworth, present fellow at the Forum for Growth and Innovation at Harvard Business School, said that Apple’s expensive, risky patent war against the South Korean handset maker was not the solution to end the dispute. Allworth wrote in his Asymco posting, “The problem that Apple is facing right now

Technology Dec. 10, 2012

Mobile carrier KT said Monday that its executive vice president Lee Gil-joo was named the chairman of KT Cultural Foundation.Having served in KT’s public communications unit for 27 years, Lee, 57, took office as the foundation’s chairman on the same day. The communications expert will significantly expand the foundation’s scope of public communications, KT said. “I will make the most of my experience in communications at KT to promote the foundation’s values, and ultimately to set a milestone to

Dec. 10, 2012

World experts have given a positive note on Korea’s water management system, expecting that the country’s hydro-related tech will be benchmarked worldwide. Their views were vented when the nation hosted the 2012 World River Forum in Daegu in September, where top officials from 12 countries and six international organizations attended to learn Korea’s advanced hydro technology. The global river forum was co-hosted by the Ministry of Land, Transport and Maritime Affairs and the Office of National

Dec. 6, 2012

Pakistani President Asif Ali Zardari has been active in meeting with Korean heads of banking, energy and construction businesses to secure more investment to Pakistan during his stay here.The Pakistani president had meetings on Wednesday with leaders of GS Engineering & Construction Corp., Doosan Group, Daelim Industrial Co., KCC Corp. and Sambu Construction Industrial Co. to encourage them to participate in major projects in Pakistan, industry sources said. In a meeting with Doosan Group chairm

Dec. 5, 2012

As the smartphone has become a necessity regardless of gender, mobile games have successfully pegged the female gaming culture now prevalent among working women. “In the past when online games were dominant, excellent female gamers would be stigmatized as game-addicted hermits,” said NHN Hangame spokesman Hwang Hyun-don, saying that female gamers had unfairly suffered from a negative, androgynous image. “Nowadays, all men and women can play games without damaging their personal image and style.”

Technology Dec. 5, 2012

The prolonged economic slump at home and abroad is prompting consumers, companies and government organizations to tighten their belts. But card spending overseas appears to be going against the trend.According to data from the Bank of Korea, the nation’s overseas credit card payments in the third quarter amounted to about $2.37 billion, setting a new record. BOK officials attributed the overseas card spending increase to the rise in the number of Korean visitors to foreign countries. In the peri

Dec. 2, 2012

The trend in online marketing is fast shifting into mobile advertisements, as smartphones have become a necessity for Koreans, according to financial investment industry data. The shift comes as the number of smartphone users in Korea surpassed 30 million. This year’s mobile ad business is expected to reach about 204 billion won ($190 million), about 107 times more than two years ago, when it was just 1.9 billion won. Hanwha Investment & Securities Co. expects that the mobile ad market will keep

Technology Nov. 29, 2012

The average Korean has spent about 73,000 won ($67) per year on average in buying “Lotto,” the best-selling lottery ticket issued by the nation’s largest lottery operator Nanum Lotto, the Ministry of Strategy and Finance said on Monday. Fluctuations in the sales history of the national lottery meet the unspoken rule that Lotto is a hidden barometer for the nation’s real economy.Celebrating the 10th anniversary of foundation, Nanum Lotto was first issued in December 2002, when its average annual

Industry Nov. 26, 2012