A senior executive at Samsung Electronics Co. said Wednesday that the Samsung DeX, a desktop extension and other features for its high-end smartphone, the Galaxy S8, will play key roles in providing users with experiences beyond the boundaries of handsets.First showcased with the Galaxy S8 smartphone, the Samsung DeX, or Desktop Extension, allows users to utilize smartphones like a personal computer by connecting it to a monitor. (Yonhap)Samsung also unveiled Bixby, a voice support program power

Technology May 24, 2017

The main corporate sponsor of an LPGA major championship announced Wednesday it will hold an open tryout for South Korean players this summer, with the winner earning an opportunity to compete with the best in women's golf.Evian, the French water brand and the title sponsor of the Evian Championship, said the two preliminary stroke-play rounds of the Evian Challenge will take place at 360°Country Club in Yeoju, some 100 kilometers south of Seoul, on June 26 and again on July 31. (Yonhap)The top

Golf May 24, 2017

South Korea's small and medium-sized enterprises  rank near the bottom in their ability to recognize entrepreneurial opportunities and worry too much about failing, a report from the Organization for Economic Cooperation and Development said Wednesday.The report, "Small, Medium, Strong Trends in SME Performance and Business Conditions," looks at the policies of the 34 member states to identify those that stimulate SMEs and entrepreneurship. (Yonhap)SMEs account for 60 percent of total employment

Industry May 24, 2017

South Korea and other major IT countries gathered in Tokyo on Wednesday to discuss the fifth-generation network ecosystem at an international event, Seoul's ICT ministry said.The Global 5G event, the third of its kind, brought together nearly 500 people from the five countries -- South Korea, Japan, the United States, China and the EU -- representing the government, academia and tech industry, according to the Ministry of Science, ICT and Future Planning.  (Yonhap)The two-day event offers partic

Technology May 24, 2017

The ratio of South Korea's short-term foreign debt to its foreign reserves hit the highest level in more than a year in the first quarter on increased foreign investment in local bonds, data showed Wednesday.The country's short-term external debt -- with a maturity of one year or less -- totaled $115.4 billion as of the end of March, up $10.2 billion from three months earlier, according to the data by the Bank of Korea. The end-March figure accounted for 28.4 percent of the country's total exter

Economy May 24, 2017

NC Dinos' right-hander Lim Chang-min has been the steadiest closer in South Korean baseball this year, but don't bother asking him how he's getting it done.In 21 appearances, Lim has 14 saves to lead the Korea Baseball Organization. The 31-year-old also boasts a 1.17 ERA, second only to Kim Jae-yoon of the KT Wiz, who has yet to give up an earned run in 12 2/3 innings. In this file photo taken on March 31, 2017, Lim Chang-min (R), closer for the NC Dinos, high-fives his catcher Kim Tae-gun after

Baseball May 24, 2017

South Korean shares traded higher late Wednesday morning, set to close at a fresh record high, as individual buyers scooped up market heavyweights amid upward momentum, analysts said.The benchmark Korea Composite Stock Price Index gained 4.52 points, or 0.2 percent, to 2,316.26 as of 11:20 a.m.Large caps on the Seoul bourse were largely mixed.Market behemoth Samsung Electronics remained unchanged after opening higher as investors tried to cash in recent gains. Its smaller rival LG Electronics, m

Market May 24, 2017

The government will release its egg and poultry stock early next month to stabilize prices soaring again, the agriculture ministry said Wednesday.Depending on price moves, up to 5 million eggs will be released for two weeks at a price 30 percent lower than the market, according to officials at the Ministry of Agriculture, Food and Rural Affairs. For poultry meat, the government will put in 2,100 tons from May 31, an amount equal to one to two days of domestic consumption. The meat will be sold 5

Industry May 24, 2017

LG Electronics Inc. said Wednesday it plans to officially launch its own mobile payment tool in South Korea next month that is comparable to Samsung Electronics Co.'s Samsung Pay.During the World IT Show 2017 exhibition currently under way in Seoul, the South Korean tech giant showcased LG Pay, which adopted the Wireless Magnetic Communication technology. Samsung Pay is equipped with the Magnetic Secure Transmission technology. (Yonhap)Both payment tools allow people to make payments by touching

Technology May 24, 2017

South Korean stocks opened higher Wednesday, taking a cue from overnight gains on Wall Street.The benchmark Korea Composite Stock Price Index added 9.28 points, or 0.4 percent, to 2,321.02 in the first 15 minutes of trading.On Tuesday, US stocks rose to post a four-day winning streak.The Dow Jones industrial average was up 0.21 percent, to 20,937.91 and the Nasdaq Composite Index gained 0.08 percent, to 6,138.71.  Large caps on the Seoul bourse were mostly bullish, with tech and medical sha

Market May 24, 2017

Japanese tech giant Toshiba Corp.'s efforts to sell its memory business will eventually benefit South Korean industry players as the move can be considered an opportunity for them to expand their market shares, a report said Wednesday."As Toshiba will be put off in making investments in the 3-D NAND flash sector, there will be a shortage in supply that can become more serious," said Choi Do-yeon, a researcher at Shinhan Investment. "This will lead to expanded investment opportunities for Samsung

Industry May 24, 2017

Moody’s Investors Service cut its rating on China’s debt, saying that the outlook for the country’s financial strength will worsen as debt rises and economic growth slows.Moody’s reduced the rating to A1 from Aa3 and changed the outlook to stable from negative, the company said in a statement on Wednesday. The offshore yuan extended losses after Moody’s downgrade, weakening 0.12 percent to 6.8889 per dollar as of 8:24 a.m. in Shanghai.President Xi Jinping and o

Economy May 24, 2017

South Koreans' overseas stock investment has jumped nearly 40 percent in 2017 from a year ago, data showed Wednesday, as retail investors apparently turn to foreign markets amid a domestic rally dominated by large caps.According to the data by the Korea Securities Depository, local investors' direct transactions of stocks traded overseas came to $6.32 billion as of Friday, up 39.9 percent from the same period a year earlier.The balance of foreign-traded stocks deposited at the clearing agency th

Market May 24, 2017

South Korea's growing household debt and geopolitical risks are two major systemic risks facing the country's financial system, a survey showed Wednesday.Household debt topped the list of key systemic risks cited by market watchers at 85 percent, compared to 70 percent in October, according to the semi-annual survey conducted by the Bank of Korea. South Korea's household debt reached a record high of 1,359.7 trillion won ($1,214 billion) at the end of the first quarter, according to data compile

Economy May 24, 2017

North Korea claimed Wednesday that the US is seeking to "suffocate" the North as it finds faults with normal economic cooperation over a recently opened ferry service between the North and Russia.Last Thursday, a North Korean ferry named the Mangyongbong kicked off a trial service which links North Korea's port of Rajin and Russia's far-eastern port city of Vladivostok amid tightened United Nations sanctions. (Yonhap)A spokesman at North Korea's foreign ministry claimed that the ferry service is

North Korea May 24, 2017