Samsung Electronics on Tuesday unveiled a security solution with the highest level of protection, eyeing the growing non-contact services market. The standalone turnkey security solution is comprised of a secure element chip and enhanced security software that offers protection for tasks such as booting, isolated storage, mobile payment and other applications. Smart device makers will not need to develop their own security programs if the devices are equipped with the Samsung solution, the co

South Korean air carriers suffering from the impact of COVID-19 outbreak plan to gradually relaunch their international routes from next month but worries linger over prospects of a business recovery, according to industry sources Tuesday. Low-cost carrier Jin Air said Tuesday that it is resuming five international routes including Incheon-Bangkok, Incheon-Hanoi, Incheon-Taipei, Incheon-Narita and Incheon-Osaka from next month. It comes two months after it suspended the routes over the virus p

The market capitalization of large South Korean companies was hugely affected by the pandemic, with 89 of the nation’s top 100 by market value changing their rankings, according to latest data Tuesday. Local corporate tracker Korea CXO Institute surveyed changes in the rankings of the top 100 companies in market capitalization between Jan. 2 and May 22. According to the survey, the market cap of the top 100 companies in Korea stood at 1,082 trillion won ($876 billion) on May 22, an 8.5

This weekend, Samsung Electronics will conduct its first-ever online aptitude test for entry-level job applicants, due to the coronavirus pandemic, the company said Tuesday. Known as Global Samsung Aptitude Test or GSAT, the exam is required for all applicants who have passed document screening. The test used to take place physically at middle and high schools during weekends. On Tuesday, the company sent kits needed for the first online test via mail. The kits included a cover for an ide

China, the world’s largest television market, has suffered a sharp drop in shipments in the first quarter upon the COVID-19 pandemic, data showed Monday. According to Omdia, around 9,387,600 TV sets were shipped to retailers in China, dropping below the 10 million mark for the first time in nine years. The decline rate in TV shipments was 23.6 percent for China, 13.6 percent for West Europe, 8.5 percent for North America and 8 percent for Asia. Chinese TV manufacturers largely depend

Global video streaming platform Netflix Inc. is estimated to have brought in record-high paid subscriptions in April amid the coronavirus pandemic, industry data showed Tuesday. An estimated 2 million paid viewers in South Korea presumably paid 43.9 billion won ($35.5 million) for subscriptions last month, up 21 percent from 36.2 billion won in March, according to the data from industry tracker WiseApp. The number of South Korean subscribers to the US platform has gradually increased from 28

Kia Motors Corp., South Korea's second-largest carmaker, said Tuesday that its plant in Mexico will restart production this week, marking the resumption of operations at all of South Korea's overseas auto plants. The resumption scheduled for Tuesday (Mexico time) comes after Kia Motors put in place all requirements meant to stem the spread of the new coronavirus, a Hyundai spokesman said over the phone. All manufacturers in Mexico are required to check the temperatures of workers, give them

South Korea has banned the production and sale of 31 diabetes drugs with a substance that may pose cancer risks, although the drugs do not pose serious health risks, the country's public health agency said Tuesday. The drugs are metformin-based medication, with 257 other diabetes drugs also being checked for the substance, the Ministry of Food and Drug Safety said. "Of the drugs checked, the 31 had above the permitted level of N-Nitrosodimethylamine (NDMA)," the ministry said. The

South Korean mobile games have gained huge popularity in overseas markets partly on the back of the coronavirus pandemic that has confined more people to their homes, industry data showed Tuesday. Global mobile game usage shot up 20 percent in the first quarter of this year compared with a year earlier, data from app analytics firm App Annie showed. Global app downloads also rose 15 percent on-year during the cited period. Separate data from Nielsen showed that the average time spent gaming i

　South Korea announced a long-term plan to spur a shift toward renewable power sources away from fossil fuels and nuclear energy. 　The draft plan for the nation’s ninth basic energy policy for the years 2020-2034 calls for raising the share of renewable energy out of its electricity generation to 40 percent by 2034 from the current 15.1 percent. 　Power plants fired by liquefied natural gas (LNG) will take up 31 percent of the total from the present 32.3 percent. 　Drawn up by a worki

South Korea's telecommunications market dominated by three major firms lacks competition and needs to improve its structure to provide better services to consumers, a state-run think tank said Tuesday. The Korea Information Society Development Institute (KISDI) said although competition in the local telecom market, viewed as an oligopoly, has grown over the years, it still appears to be "insufficient." "The market share and concentration ratio of the country's top telecom ope

  Korea's top air carrier Korean Air Lines Co. decided Monday to offer 300 billion won ($242 million) worth of new shares as collateral to receive fresh financial support from creditor banks as it seeks to tide over a liquidity crunch. In April, the Korea Development Bank (KDB) and the Export-Import Bank of Korea (Exim Bank) decided to extend 1.2 trillion won in liquidity to the country's flag carrier hit by the new coronavirus pandemic. Korean Air and its holding company Hanjin KAL Corp.

   South Korean duty-free stores saw their sales drop sharply below the 1 trillion-won ($804 million) mark in April, feeling the pinch of the fallout from the new coronavirus, industry data showed Tuesday. Combined sales of local duty-free shops shrank 9.2 percent on-month to 986.7 billion won last month, according to the data from the Korea Duty Free Shops Association. The number halved from January, the data showed. The number of visitors to duty-free outlets came to around 354,00

Heavy machinery and power equipment-focused Doosan Group is seeking to ease its severe credit squeeze stemming from its flagship Doosan Heavy Industries & Construction Co. by coming up with a self-rescue plan that centers on sales of assets.  The country's 15th-largest conglomerate said late last month that it will push ahead with a plan to sell its shares and non-core assets in a bid to secure more than 3 trillion won ($2.4 billion) in cash. At the request of its creditors, includ

They may look like Bluetooth neckband headsets, but Linkflow’s FITT360 and NEXX360 are cameras that allow users to capture 360-degree shots of their surroundings. FITT360 and NEXX360 each have four cameras which constantly take photos and instantaneously process them into 360-degree videos. This camera concept was born out of founder Kim Yong-kuk’s romantic desire to capture the beautiful scenery of his honeymoon in Hawaii in all its glory.  Kim, who had at that point had