Shares of Samsung Electronics surged to a two-year high after the Korean tech giant posted third-quarter earnings guidance that beat analysts’ estimates. Customers try out Samsung devices at a store near the company`s headquarters in Seocho-dong, southern Seoul, on Wednesday. YonhapThe company estimated its third-quarter profit rose almost 80 percent on-year to 7.3 trillion won ($6.3 billion) from 4.06 trillion won, its first quarterly profit gain in two years and the biggest since the first qua

Technology Oct. 7, 2015

Samsung Group is gearing up to relocate key affiliates as part of its business restructuring that has continued for its crucial leadership transition to a new generation.The nation’s largest conglomerate has gathered its key affiliates into its fancy headquarters complex, consisting of three sky-scrapers, in Seocho-dong, Seoul, since 2008.  According to industry sources Monday, Samsung Electronics, the group’s crown jewel, is considering moving its marketing and planning divisions to Suwon, Gyeo

Technology Oct. 5, 2015

LG Chem said Sunday it would supply lithium-ion batteries for Yamaha Motors’ new golf carts by 2016. Yamaha, a Japanese manufacturer of engines and electric motors, is also one of the top golf cart makers globally. An LG battery cell of 5.5 kilowatt-hours and 74 ampere hours has cut the weight in half while doubling battery life, compared to existing lead-acid batteries. They can be used for up to five years without maintenance unlike lead-acid batteries that require maintenance once in two year

Technology Oct. 4, 2015

Samsung Electronics, the world’s largest TV maker, said Saturday it doesn’t cheat on TV energy efficiency tests, responding to a news report that its TVs appear more energy efficient under test conditions than in everyday use. Tests conducted by ComplianceTV, a testing group funded by the European Union, has recently found the discrepancy, U.K.'s Guardian reported Thursday.According to the report, the European Commission was also considering investigating allegations of cheating the tests even t

Technology Oct. 4, 2015

LG Electronics on Thursday took the wraps off a new premium smartphone that touts brand-new features such as a second screen and dual cameras. The V10 is the first in a new line of Android smartphones from the Korean tech giant since LG’s mobile chief Cho Juno took office in December last year. The new phone comes as the company’s mobile business unit continues to suffer from sluggish sales in a crowded market dominated by Samsung and Apple.  “We can no longer focus only on the sales figures,” s

Technology Oct. 1, 2015

Japan’s parliament early Saturday approved contentious legislation that enhances the role of the country‘s military by loosening post-World War II constraints, after the ruling bloc defeated opposition parties’ last-ditch effort to block a vote.The upper house’s approval makes the legislation into law, reinterpreting Japan’s constitution and fundamentally changing the way it uses its military. Opponents say it violates Japan‘s constitution and puts the country at risk of becoming embroiled in U.

International Sept. 19, 2015

Diverse factors are considered when people choose a home. Not just house prices but also schools, hospitals and big supermarkets near the neighborhood. And then, there is another crucial factor in Korea -- a McDonald’s outlet. Workers sort out parcels at a warehouse in Osan, Gyeonggi Province, Friday, ahead of Chuseok next week. YonhapThe U.S. hamburger chain started a home delivery service here in 2007 -- when McDelivery was still in its infancy worldwide. Currently, some 320 out of its almost

Industry Sept. 18, 2015

Thanks to the unique “Ppalli Ppalli (hurry, hurry)” culture and one of the best logistics networks in the world, Korea’s delivery industry is thriving, with its range widening and services getting even more specific. From garments and books to groceries and even breast milk, nearly everything can be delivered for a bargain, and the time has reduced to nearly the blink of an eye, offering real-time services. Anything you wantThe most iconic item in the delivery market is food. Whether you call fo

Industry Sept. 18, 2015

Drones are widely expected to become a game-changer in the future delivery market. Tech firms like Amazon, Google and Alibaba have announced their intentions to use drones for delivery in recent years, and are working on pilot programs. German logistics giant DHL was the first to start a regular drone delivery service, under the project name Parcelcopter 2.0, operating since September last year.  Even though drones are all the rage globally, Korea -- the second nation to develop its own unmanned

Industry Sept. 18, 2015

People in Korea have long enjoyed convenient food delivery services, ordering in almost all types of food from burgers and fried chicken to jajangmyeon (black bean noodles) and pig’s trotters. Combined with mobile technology, the food delivery services are gaining further traction as more start-ups come up with applications catering to the different tastes of customers and attracting investments.Baedal Minjok, the largest food delivery app here with its monthly users standing at 2.7 million in J

Industry Sept. 18, 2015

A young man hitting the road on a high-speed motorcycle is the typical image of delivery drivers here, but recently Korean consumers’ growing demands for safer services has been changing the scene.  Park Jae-yeol, 69, delivers some 180 packages spread over three days each week to his apartment neighbors in Eungam-dong, Seoul, using an electric handcart. He is one of some 470 senior deliverymen, aged over 60, working for the country’s largest logistics firm CJ Korea Express.“For the firm, the ‘Si

Industry Sept. 18, 2015