Google’s YouTube is about to lose its luster in South Korea as it failed to seal a deal with domestic broadcasting companies to provide Korean content.The two sides were unable to narrow their differences over profit-sharing and content management. Smart Media Rep, a broadcasters’ alliance launched by TV networks MBC and SBS, demanded that Google share more value generated from the group’s content on YouTube, given that they were pouring more resources into creating videos amid rising production

Technology Nov. 30, 2014

The shaky economic recovery around the world is eroding profitability for Asian insurers, prompting them to take on more investment risk, particularly in private asset classes, to improve yield. This transition requires insurers to step outside their comfort zone at a time when resources are already stretched by increasingly demanding regulatory requirements.BlackRock commissioned the Economist Intelligence Unit to gauge how insurers were responding to the pressure on their fixed income portfoli

Nov. 30, 2014

LG Group, the nation’s fourth-largest conglomerate, said Thursday that it had conducted its annual executive reshuffle and appointed LG Electronics home entertainment president Ha Hyun-hwoi as LG Corp. president.Ha’s new role at LG Corp., the holding company of the group, will include serving as deputy for LG Group chairman Koo Bon-moo. Ha has headed LG Electronics’ home entertainment unit since early this year, and has been credited with launching the tech giant’s strategic products such as nex

Technology Nov. 27, 2014

Hanwha Group’s acquisition of Samsung Group’s petrochemical and defense units will further boost Hanwha’s core businesses as it will be able to generate synergy with the purchased assets, industry sources and analysts said.The 2 trillion won ($1.8 billion) deal, which is said to be a “win-win,” has enabled Samsung to move forward in realigning its units to focus on technology, finance, infrastructure and content businesses under the future leadership of Lee Jay-yong and his two sisters.Analysts

Technology Nov. 26, 2014

The wind of change is about to blow through Samsung Electronics, especially its once vital but now lackluster mobile unit, early next month as it seeks to revitalize its ailing tech business.Restructuring has become inevitable for South Korea’s largest company, which has been facing falling profitability amid increased competition from Chinese manufacturers.Some industry watchers forecast the reshuffling could come as early as next week. The company appears to be considering not only downsizing

Technology Nov. 26, 2014

BUSAN ― Blueside, a South Korean game company, said that its next strategic move would be developing games for mobile devices next year after the anticipated release of “Kingdom Under Fire 2” for Sony PlayStation 4 and PCs.Lee Sang-youn, CEO and producer of Blueside, said that the company ultimately seeks to make games that can be played on multiple platforms such as consoles, PCs and mobiles.Given its strength in developing games for consoles and PCs, the company has the capability to create “u

Technology Nov. 21, 2014

BUSAN ― South Korea used to be a playground exclusively for domestic game developers and publishers, with little room for outsiders to penetrate the heavily-fortified industry.But this year, foreign enterprises ― big and small ― are taking a crack at the market hoping to attract the sophisticated Korean players with their unique game content and hardware.Facebook’s Oculus VR, a virtual reality headset maker, which is participating at the G-Star game convention, said Korea offers an opportunity f

Technology Nov. 20, 2014

BUSAN ― This year’s G-Star, South Korea’s biggest game convention, will be all about mobile games specifically targeting players overseas.With the domestic market facing saturation as smartphones and network capacity have reached their current limits, a slew of both traditional PC online and start-up game developers and publishers are expected to promote their content, especially for users in emerging markets, industry sources said.New concept virtual reality games and games from China will be a

Technology Nov. 19, 2014

Lee Jay-yong, vice chairman of Samsung Electronics, became the richest third-generation business tycoon in South Korea in terms of stock value, thanks to the initial public offering of Samsung SDS last Friday.The Samsung heir apparent Lee’s equities were valued at almost 3.9 trillion won after taking his 11.25 percent ownership in Samsung SDS into account, according to Chaebul.com, an online information provider of Korea’s family-run conglomerates.Samsung SDS, the group’s IT solutions developer,

Industry Nov. 16, 2014

Samsung Gear VRTop handset maker Samsung Electronics said Thursday it plans to roll out its first virtual reality headset in the U.S. market in December, gradually expanding into other countries.The device, first showcased in August, provides 360 degree rotating view, creating a lifelike experience for users. It is currently linked to the Galaxy Note 4 through a micro-USB. “Not only will Gear VR provide a vivid entertainment experience for users, it can also be applied to automobile or aircraft

Technology Nov. 13, 2014