The Korea Herald

Intel eyes supply deal with Apple

Intel is again seeking to partner with Apple to supply its mobile communication chips for future iPhones.Most of Apple’s smartphones have used chips from Qualcomm.“Chances are high that global smartphone makers such as Apple and LG Electronics will use Intel’s baseband chips in their products down the road,” said Lee Hee-sung, the president of Intel Korea, at a press meeting on Thursday. Intel Korea president Lee Hee-sung introduces new chips for data servers at a press conference in Seoul on Th

Technology Sept. 11, 2014

Hyundai Motor chairman stresses localization to win new markets

The head of South Korea’s biggest automaker, Hyundai Motor Group, emphasized localization to win over new overseas markets as he toured company plants in India and Turkey that have undergone a shift in focus.“The greatest competitiveness comes from localization,” Chung Mong-koo was quoted as saying in company press releases. “The plants in India and Turkey should win over new markets in India, the Middle East and Africa as the two pillars in localization,” he said. Hyundai Motor Group chairman C

Industry Sept. 10, 2014

Hyundai Motor chairman stresses localization to win new markets

LG Uplus to sell iPhones for first time

LG Uplus Corp., South Korea’s No. 3 mobile carrier, will sell Apple Inc.’s latest iPhones in South Korea along with its bigger rivals SK Telecom Co. and KT, industry sources said Wednesday, marking the first time for LG Uplus to distribute Apple products here. Apple on Wednesday released the 4.7-inch iPhone 6 and 5.5-inch iPhone 6 Plus, which are 6.9 mm and 7.1 mm thick, respectively. While the devices are set to be available starting Sept. 19, the launch schedule for the South Korean market has

Technology Sept. 10, 2014

Samsung Electronics’ market cap falls below 200tr won

Samsung Electronics, South Korea’s leading tech giant, saw its market capitalization fall below the 200 trillion won ($195.1 billion) mark for the first time in two years, data showed Wednesday, as its mainstay mobile unit continued to suffer amid the rise of Chinese rivals. Samsung’s market cap came to 198.34 trillion won on Sept. 2, falling below the 200 trillion won mark for the first time since Sept. 7, 2012. While it managed to return to 200.5 trillion won on Thursday, it slipped back to 19

Technology Sept. 10, 2014

Brokerages cut 10% of jobs amid slump

South Korean securities companies have slashed more than 10 percent of their payrolls and shut down over 200 offices at home and abroad over the past year amid a prolonged economic slump, data showed Wednesday.As of end-June, the nation’s top 28 brokerage houses by revenue had a combined 33,091 workers, down 10.3 percent from a year earlier, according to the data by Chaebul.com, which tracks the country’s family-run conglomerates, known as chaebol.The securities firms had a total of 1,344 domest

Sept. 10, 2014

Foreign investment center to open for Gaesong park

A foreign investment support center for an inter-Korean industrial park will be opened this week as part of efforts to help internationalize the joint project, Seoul officials said Wednesday.The center, to be opened on Friday and put under the administrative support agency for the Gaesong Industrial Complex, will be tasked with publicizing the industrial zone overseas and providing consultative services to prospective foreign investors, the unification ministry said.“The support center will prov

Industry Sept. 10, 2014

ITU preparation in full gear

With less than 40 days until the ITU Plenipotentiary Conference in Busan next month, South Korea’s preparatory committee under the Ministry of Science, ICT and Future Planning is making all-out efforts to promote the landmark meeting.Through social networks, online games, outdoor advertising banners and Web cartoons, it seeks to introduce the ITU and increase public participation.Korea’s ICT Ministry is partnering with other government agencies to run its public relations campaign with hopes of

Technology Sept. 10, 2014

Korea to enhance car emissions regulation

South Korea said Wednesday that it will strengthen vehicle emissions control by 2020 in order to meet global standards for greenhouse gas reduction targets. The Ministry of Environment and the Ministry of Trade, Industry and Energy will lower the carbon dioxide emissions target to 97 grams per kilometer for the 2016-2020 period, from the 140 grams per kilometer target for the 2012-2015 span.In terms of fuel consumption, the 2020 target is equivalent to 24.3 kilometers per liter, compared with th

Industry Sept. 10, 2014

Bungie’s ‘Destiny’ video game soars at launch

The hotly anticipated video game “Destiny” soared at its launch, setting a trajectory intended to eclipse the blockbuster hit its makers had with “Halo.” “Destiny,” from Bungie studio, was the most preordered new video game franchise in history, according to publisher Activision. “Destiny is the game we’ve always wanted to make,” Bungie president Harold Ryan said in a launch release.“We’ve dreamed of this universe for years, so we couldn’t be more thrilled to swing open the doors and let fans sh

Technology Sept. 10, 2014

Bungie’s ‘Destiny’ video game soars at launch

[Newsmaker] Galaxy Note 4 gets mixed response

The Galaxy Note 4, Samsung Electronics’ all-new smartphone-tablet hybrid unveiled at the 2014 IFA in Berlin, has better display with a faster processing speed than its predecessor.It is thin and light. It has an S-pen. What else?The phablet looks much like the Note 3, except that it has a metal frame without the stitches on the back cover. The Note 3’s stitch design received poor reviews last year when it hit the market.The Note 4 seemingly turned out to be much ado about nothing.Lee Don-joo, Sa

Technology Sept. 4, 2014

[Newsmaker] Galaxy Note 4 gets mixed response

Former LG executive named Chang Sung CEO

Huh Young-hoHuh Young-ho, a former LG executive, has been named chief executive of Chang Sung, a metal materials manufacturer for the chip, shipbuilding and automotive industries, LG Innotek said Thursday.Huh had been with LG since 1977, beginning his career at LG Electronics, where he worked for 20 years in the company’s television manufacturing unit. He then became the CEO of LG Innotek in 2002, and spurred the development of indigenous IT materials of displays and optics.Huh’s major contribut

Technology Sept. 4, 2014

Former LG executive named Chang Sung CEO

Samsung Electronics on M&A spree

Samsung Electronics announced on Wednesday that it has acquired PrintOn, a Canada-based mobile printing solutions company, the latest on the tech giant’s growing list of acquisition deals.Samsung, which had been inactive in making deals compared with its competitors in Silicon Valley, has recently been aggressively buying a number of tech companies to fit with its mobile business.Samsung has bought about 10 companies since last year, including SmartThings, an open platform developer for connecte

Technology Sept. 3, 2014

Tech giants brace for smart watch war

LG G Watch R. (LG Electronics)With the novelty for owning smartphones slowly waning, global tech heavyweights are scrambling to get a grip on the next big thing in wearable technology converged with health care services.Samsung Electronics and LG Electronics are set for a fresh battle over smart watches, and will soon be joined by U.S. tech giant Apple later this year.LG and Samsung will officially unveil their new smart watches with innovative designs at IFA, the world’s leading trade show for

Technology Sept. 3, 2014

Korea’s consumer prices grow 1.4% in August

South Korea’s consumer prices grew at the slowest pace in four months in August due in part to the stabilization of farming goods prices, a government report showed Tuesday. The country’s consumer price index rose 1.4 percent last month from a year earlier, decelerating from July’s 1.6 percent gain. This marked the slowest growth pace since April, when consumer prices rose 1.5 percent. The price increase has remained in the 1 percent range since November, when it gained 1.2 percent from a year e

Sept. 2, 2014

Korea’s investments in foreign securities hit record in Q2

South Korea’s institutional investments in foreign securities surged to $90.3 billion as of end-June as asset managers and insurers increased their net buying, central bank data showed Tuesday.The outstanding value of foreign securities held by institutional investors rose by $10 billion in the April-June period, logging the biggest quarterly growth since the global financial crisis, according to the preliminary data by the Bank of Korea.Foreign securities include stocks, bonds and so-called Kor

Sept. 2, 2014

Articles by Park Hyung-ki