LG CNS, a South Korean system integrator, said Wednesday that it has developed a mobile payment system that enables users to easily settle their bills without downloading complex software and going through an identification certification process.The company’s “MPay,” which will be integrated with Korea’s most-used mobile messenger Kakao Talk, allows users to just type in their passwords for financial transactions of over 300,000 won ($295).  An LG CNS employee introduces the MPay mobile payment

Technology Aug. 27, 2014

Tong Yang Life Insurance said Tuesday that it had launched a new insurance product with low monthly premiums, simplified policies and expanded coverage for children.It said the life insurance would not only have inexpensive fees ranging from 30,000 won to 50,000 won ($30 to $49) to cover basic services such as medical treatment and hospitalization, but would also provide consumers with additional coverage options such as outpatient or emergency treatment. A model holds up a sign promoting a spec

Aug. 26, 2014

KT, South Korea’s second-largest mobile carrier, said Tuesday that it will launch an ultrahigh-definition Internet Protocol TV service next month, enabling consumers to enjoy not only sharper-quality media content but faster broadcasting connectivity.The service, called Olleh GiGA UHD TV, will come with a set-top box that can connect to any kind of TV, including ones with cathode-ray tubes, and allows consumers to watch UHD content with resolution four times higher than high definition and 24 ti

Technology Aug. 26, 2014

Ever wondered how properties are divided and borders are set?Ever asked who those people are standing in the middle of the road with a tripod looking as though they are taking a picture?Land surveys, measurements and management have been led by Korea Cadastral Survey Corp. in South Korea for over 100 years.With some 4,000 experts in geospatial science and technology, the quasi-government entity known as LX, which stands for Land Expert, aims to make a second leap into the Information Age.“We wil

Technology Aug. 24, 2014

The Korea Communications Commission on Thursday imposed fines of some 58 billion won ($57 million) against the country’s three mobile carriers for offering illegal subsidies to smartphone buyers.South Korea’s telecommunication regulator held an internal meeting presided over by KCC chairman Choi Sung-joon, and decided to slap SK Telecom with 37.1 billion in penalties, KT with 10.8 billion won and LG Uplus with 10.6 billion won.The three telecoms were fined for misconduct in giving away subsidies

Technology Aug. 21, 2014

LG Chem said Wednesday that it had clinched a deal to supply lithium-ion batteries to Germany-based premium automaker Audi for its next-generation electric automobiles.The materials and battery giant said the deal could pave the way for the company to supply its batteries to other auto units of Volkswagen Group as some share automobile platforms to manufacture cars.Its batteries, for instance, could be used in the Audi A3 E-Tron and Volkswagen e-Golf as they share the same platform for the hatch

Technology Aug. 20, 2014

In the blockbuster sleeper hit “Edge of Tomorrow,” soldiers wear full-body robotic armor to defend their world against alien invaders.They may look ineffective in those heavy-metal suits, but the wearables boost their mobility and maneuverability to rapidly combat the creatures.The wearable technology portrayed in the sci-fi war movie will soon become real and make its way into every part of daily life, said a robotics professor who developed South Korea’s first exoskeleton.The U.S., for instanc

Technology Aug. 20, 2014

Debate over whether a lower interest rate will help or winder for the economy is heating up, following the Bank of Korea’s first rate cut in 15 months last week. The Financial Supervisory Service, South Korea's financial regulator, said Monday that a lower base rate would reduce the burden on households and corporations trying to pay back their bank loans, contrary to growing market concerns that it could further worsen their finances.The FSS data showed that the central bank’s benchmark rate cu

Aug. 18, 2014

LG Innotek said Thursday that it has launched a system to evaluate whether its suppliers are using minerals from international conflict zones in their materials and parts manufacturing.This is part of efforts to boost risk management following increased regulations against LG Innotek’s customers listed on the U.S. stock market, in which the Securities and Exchange Commission requires them to disclose whether they have used conflict minerals in their products.The SEC imposes a penalty, including

Technology Aug. 14, 2014

The future has always been uncertain. And with the rapid advancements in technology, it is even harder to predict. This is why Lee Kwang-hyung, head of KAIST’s Graduate School of Future Strategy, called for the development of new scientific and technological skills to enable the next generation to think creatively by converging their knowledge in various fields.Through such “convergent thinking,” people and businesses can better picture the future as it becomes more complex and sophisticated, he

Technology Aug. 13, 2014

James Dator is dubbed as one of the inventors of futures studies, but what he has tried to do for the past 40 years is to persuade people that the future cannot be predicted.Instead he found that all images of the future can be clustered into four categories, which he calls continued growth, collapse, disciplined society, and transformation.In an interview with The Korea Herald, the futurologist warned against the dangers of sticking to the dominant image of continued growth, a view based on the

Technology Aug. 13, 2014