For 35-year-old office worker Kim Seong-soo, carrying a wallet loaded with cash or plastic is a thing of the past.  In Pangyo Techno Valley, where he works, he can easily buy a cup of coffee and get a haircut without any cash or cards -- as long as he brings his phone.The tech cluster, located south of Seoul in Seongnam, Gyeonggi Province, is often called the South Korean equivalent of California’s Silicon Valley. To access any service in the area, all Kim needs to do is place his pho

Technology Aug. 16, 2019

In light of the aggravating trade dispute between South Korea and Japan, a report showed Wednesday that significant revenue gaps remain in most industrial sectors between the two countries. According to Seoul-based market research firm CEO Score’s survey on highest-grossing companies across 15 sectors as of last year, the revenue of Korea’s top three companies was only half of that of their Japanese competitors. In the business categories ranging from semiconductors to telecommunicat

Industry Aug. 14, 2019

South Korean defense and aerospace company LIG Nex1 chief Kim Ji-chan received the government’s top award for his contribution to the country’s defense industry development, the company said Wednesday. During a ceremony held at the Defense Acquisition Program Administration, Kim was awarded the Order of Industrial Service Merit, also known as “Silver Tower,” the country’s second-highest decoration for a businessperson. He was recognized for his decades-long efforts

Industry Aug. 14, 2019

When Korea was under Japan’s colonial rule from 1910 to 1945, many Koreans lost their houses and land to the Japanese. A significant portion of Korean property was forcefully taken by the Japanese military and sold cheaply to its residents.The fledging Korean government, established in 1948, pledged to retrieve the property from the Japanese as promptly as possible. However, some has still not been returned to the government. With Korea ratcheting up pressure on Japan amid an escalating tr

Industry Aug. 14, 2019

　With artificial intelligence transforming industries and businesses, South Korean companies are embracing the technology in their recruiting processes. 　Ranging from tech companies to financial firms, the country’s popular employers have increased the use of AI-powered recruitment robots in determining employees’ job qualifications and personal characteristics. 　One of the latest companies to join the fray was major mobile carrier KT. For its recruitment slated for later this year,

Technology Aug. 13, 2019

In a rare case of collaboration among rivals, South Korea’s three mobile carriers  jointly introduced an advanced version of an integrated messaging service Tuesday to compete with the country’s top messenger app, KakaoTalk. 　According to SK Telecom, KT and LG Uplus, Chatting Plus is now available to mobile subscribers with all three carriers -- but only for Android phones such as the Samsung Galaxy S10 5G. 　Thanks to Rich Communications Services technology, users can

Technology Aug. 13, 2019

　South Korean mobility company VCNC said Monday that it was expanding its popular van-sharing business, Tada, by introducing a new ride-hailing service for corporate customers.  　According to the company, the new service, “Tada Business,” is to be available on a trial basis until it officially kicks off in October. Once they register through the Tada app, company executives and staff members can use the Tada service in the same way as other customers, the company said. 　To provi

Business Aug. 12, 2019

　As an increasing number of content creators in South Korea use advanced digital technology to establish independent broadcasting platforms, the country’s major broadcasters are suffering financially, data showed Sunday.　According to Rep. Yoon Sang-jin of the main opposition Liberty Korea Party, Korean Broadcasting Systems reported an operating loss of 65.5 billion won ($53.9 million) for the first half of this year, as compared with 53 billion won from a year earlier. 　The decreased opera

Industry Aug. 11, 2019

South Korea’s largest mobile messenger app operator Kakao said Thursday its second-quarter operating profit surged 47 percent on-year, as it benefited from new businesses and contents. The company’s operating profit reached 40.5 billion won ($33.4 million) in the April-June period on a consolidated basis, compared to 27.7 billion won a year earlier.As its sales rose 25 percent on-year to reach 733 billion won, Kakao attributed the latest outcome to increased profit from its messenger

Technology Aug. 8, 2019

 　Four months after South Korea commercially launched the fifth-generation cellular network, the number of 5G subscribers here has surpassed 2 million as of this week, amid growing competition among major mobile carriers. 　According to industry data, the country’s three major carriers -- SK Telecom, KT, and LG Uplus -- reached combined subscribers of 2.01 million Tuesday, about two months after they topped the 1 million threshold in June. 　Growth is expected to further accelerate when

Technology Aug. 8, 2019

　South Korean pharmaceutical giant Yuhan  has established a subsidiary in Australia to expand its global clinical network and drug development pipelines. 　The subsidiary, Yuhan ANZ, was launched in June. Some 2 billion won ($1.6 million) was reportedly invested for the project. 　The company said Australia is one of the countries with bright prospects for the pharmaceutical market, given its increasing demand for medical products. 　“Launching a subsidiary in Australia is a part of our

Industry Aug. 7, 2019

　With Japanese Prime Minister Shinzo Abe’s Cabinet removing South Korea from its list of trusted export destinations last week, attention has been drawn to what materials will become subject to import restrictions.　According to the Korea Strategic Institute, which oversees management of strategic goods for the Korean government, 159 materials were selected as items of concern to be subject to the Japanese restrictions for security reasons. 　Among those materials that Japan claimed could be

Economy Aug. 6, 2019

Seeking to introduce a series of advanced mobile payment services targeting the offline market this year, tech companies are up for heated competition over the smartphone-based payment market here.Dominant Korean internet portal Naver said last month that it would soon launch a mobile payment system available at local stores and restaurants. Combined with its incumbent Naver Pay mobile payment platform, offline service “Table Order” is expected to launch in the third quarter of this

Technology Aug. 4, 2019

　South Korean information technology firm LG CNS said Thursday it will install an artificial intelligence-based X-ray analysis system at a local public health center to offer patients speedier medical assessments. 　Starting from late September, the AI-based X-ray assessment will be brought to a public medical facility in the Eunpyeong district of Seoul. The system is expected to help doctors and patients receive accurate X-ray images within 20 seconds, LG CNS added. 　According to the IT solution

Technology Aug. 1, 2019

   　Ranging from internet companies to manufacturing-focused conglomerates, Korean companies have been rolling out series of blockchain-based business plans. 　The country’s two leading online service providers, Naver and Kakao, have launched their own blockchain ledgers and digital currencies. Samsung Electronics has introduced a blockchain-powered wallet, where users can store cryptocurrencies to purchase apps at its flagship Galaxy S10 phones. 　But, in the eyes of Korea&rs

Technology July 30, 2019