Red ginseng health supplement brand CheongKwanJang of Korea Ginseng Corp. said Monday it has collaborated with Spain’s renowned chocolate and nougat brand Vicens.The products, released last month, are the result of a partnership between the 120-year-old South Korean firm and Vicens -- with 250 years of tradition -- to introduce six different chocolate types featuring red ginseng. Vicens has been making chocolates and turrons (nougats) since its establishment in 1775. The latest collaborati

Industry Jan. 20, 2020

The Seoul High Court said it will take into account the effectiveness of a new internal compliance committee at Samsung Electronics in its ruling on Samsung heir Lee Jae-yong’s jail term, during the fourth hearing of Lee’s retrial on Friday.  The court said it will designate third-party experts to check on the implementation of compliance rules at Samsung, and only successful results will be considered in its decision on the length of imprisonment for Lee in the bribery case inv

Industry Jan. 17, 2020

Samsung Electronics’ de facto leader Lee Jae-yong on Friday appeared at the Seoul High Court with his lawyers to attend the fourth hearing of the retrial on Lee’s bribery scandal involving former President Park Geun-hye. Lee remained silent on questions asked by reporters on the scene. At the entrance to the Seoul High Court, a group of people from local labor unions demonstrated in support of more jail time for Lee. For this hearing, Samsung tried to bring CJ Group Chairman Sohn Kyu

Industry Jan. 17, 2020

The Ministry of Science and ICT said fostering the industries of data, network and artificial intelligence will be a priority this year in its annual policy briefing to President Moon Jae-in on Thursday. This year, the ICT Ministry will control some 24 trillion won ($20.7 billion) for its research and development budget, an increase by about 18 percent from 2019, it said in the presentation held at Daedeok Innopolis, an R&D complex in Daejeon. The budget will be spent in sectors with growing

Technology Jan. 16, 2020

South Korea’s antitrust regulator said Wednesday that Netflix would make changes in their terms of use that are deemed unfair, including changing subscription plans and prices without consent, in accordance with instructions it made to the company. The company’s revised terms of use will take effect starting on Jan. 20. This is the first time the government has ordered such changes to be made by a global over-the-top streaming service.The Fair Trade Commission also signaled that it w

Industry Jan. 15, 2020

Ride-hailing platform Macaron Taxi’s operator KST Mobility said Wednesday it has received additional 5 billion won ($4.3 million) investment from NHN, capping the initial 18-billion-won investment required for its app-based service.  The two firms also agreed to collaborate on adding new services to the platform for user convenience, starting with NHN’s online payment system Payco.KST Mobility started its test run of the platform, titled “Series A,” in February last

Industry Jan. 15, 2020

The world’s biggest boy band from South Korea has teamed up with internationally acclaimed artists and curators to hold joint exhibitions around the globe. Titled “Connect, BTS,” the band’s latest project involved collaborating with artists and curators to showcase artworks that are in line with the boy band’s philosophy, which stresses on diversity and supports those who are marginalized. A total of 22 international artists have joined the event dire

Arts & Design Jan. 14, 2020

Samsung announced Tuesday that it will acquire TeleWorld Solutions, a Virginia-based network service provider. TWS specializes in providing network designs, installations, testing and optimized solutions to mobile service and cable operators as well as original equipment manufacturers. With the latest deal with TWS, Samsung Electronics is expected to increase its presence in the network infrastructure market as an end-to-end service provider.The South Korean company has been supplying netwo

Industry Jan. 14, 2020

KT and the Samsung Medical Center announced on Tuesday that they have started an official test-run of 5G-powered medical solutions designed to enhance health care. During a press conference held Monday at the Samsung Medical Center in southern Seoul, the two companies introduced several applications that make use of the 5G network throughout the hospital complex.The RAN-based 5G network at the tertiary hospital makes certain procedures possible at lower cost, when compared with the cost of

Technology Jan. 14, 2020

SK Telecom said Monday it has initiated a group of multinational mobile carriers to cooperate on the development of a pan-national 5G network environment in the Asia-Pacific region. The six entities joining the group -- titled Bridge Alliance -- include South Korea’s SKT, Singapore Telecommunications, Hong Kong Telecom, PCCW, Globe Telecom Philippines and Taiwan Mobile. The South Korean mobile carrier’s recent initiative comes as part of its efforts to take the lead in multiaccess ed

Technology Jan. 14, 2020

Blue chip Samsung Electronics, listed on South Korea’s main bourse Kospi, hit a record high last week pulling its market cap to the top 20 global list.The tech giant is expected to extend its winning streak on a widely optimistic forecast of its 2020 performance on the back of the recovering semiconductor market, according to industry sources.According to Bloomberg’s data, the total market valuation of Samsung as of Thursday last week came at $301.6 billion, the 18th-highest worldwid

Industry Jan. 12, 2020

An exhibit in Seoul until March 1 guides you through 2,000-year-old artifacts, ranging from iron armors and swords to pottery and accessories like gold crowns.The National Museum is holding an exhibition on Gaya, an ancient confederacy of small city-states in the central-southern region of the Korean Peninsula from AD 42-562.Under the title of “Gaya Spirit -- Iron and Tune,” the exhibition displays some 2,600 artifacts from 31 institutions here and abroad, including the Tokyo Nationa

Arts & Design Jan. 10, 2020

SK Telecom CEO Park Jung-ho said the company will face major changes down the road including a name change, during a press conference on the sidelines of the Consumer Electronics Show in Las Vegas, Wednesday. According to Park, the company is targeting initial public offerings for some of its affiliates in the near future. If possible, a name change could also be considered. The mobile carrier aims to expand its cooperation in the field of artificial intelligence with local and global businesses

Technology Jan. 9, 2020

South Korean mobile carrier SK Telecom said Tuesday it has signed a memorandum of agreement with Hong Kong-based all-electric vehicle brand Byton to cooperate on next-generation mobility. The two companies signed an MOU at the Consumer Electronics Show in Las Vegas, the world’s largest annual tech show that is currently underway.Last year, Byton’s parent company, Future Mobility, signed a deal with Korea’s Myongshin to build electric sport utility vehicles in Korea -- with

Technology Jan. 8, 2020

Samsung Electronics is planning on commercializing a new robot in June or July this year, said Kim Hyun-suk, chief executive officer of Samsung’s consumer electronics division.  During a press conference held Tuesday at Caesars Palace in Las Vegas, Kim said the new robot would be the third or fourth Project Prism product. Project Prism is the company’s personalized electronics platform. For wider access, the price of the robot will be similar to that of a large washing machine f

Technology Jan. 8, 2020