South Korea’s 5G equipment providers could grow in the near future, as the demand for network infrastructure is anticipated to increase worldwide at a steady pace, according to local financial reports. The earnings of 5G equipment companies here could regain momentum down the road as global telecom firms seek to raise their capital expenditure on 5G infrastructure.  The improved prospects of Samsung Electronics, the major provider of telecom equipment here, will also lead to earnin

The webcomic unit of Korea’s largest internet portal operator Naver is ramping up efforts to attract more foreign users, launching services in French and Spanish recently. Naver Webtoon, also known as Line Webtoon in the United States, is a Korean web comic platform.  The online cartoon service is increasing efforts to increase its foothold in the global market. The company added Spanish on Nov. 22 and French on Dec. 19, while continuing its existing service in Engl

Japan was the trade partner with which South Korea posted the largest deficit in 2019, keeping the top spot for the fifth year in a row, according to data by Korea International Trade Association released Sunday. Last year, the trade deficit with Japan stood at $19.16 billion, recording the biggest among other trade partners. However, the figure was a significant improvement from a $28.31 billion deficit in 2017. It also marked the smallest deficit in 16 years due to the decreased trade volum

Sales of face masks surge, people rush to prepare against infectious disease

South Korean electronics giant Samsung Electronics Co. had the third-largest market share in India's smartphone market in the fourth quarter last year, slipping down a notch as Chinese products expanded their presence, data showed Monday. Samsung accounted for 19 percent of the Indian smartphone market in the October-December period, down 1 percentage point from a year earlier, according to the data compiled by industry tracker Counterpoint Research. The South Korean tech giant, which used to

South Koreans in their 30s made up the biggest customer group for foreign cars here last year, according to industry data on Monday.  Data from the Korea Automobile Importers & Distributors Association showed that in 2019, a total of 153,677 units of foreign cars were bought by individuals.  Of the number, 50,645 vehicles, or 33 percent, were purchased by those in their 30s, followed by those in their 40s (31 percent), 50s (19.6 percent), 60s (8 percent), 20s (5.8 percent) and 7

Ending a legal fight that lasted over five years, South Korea's top court said Monday it has reaffirmed a lower court's ruling accepting a divorce claim filed by Lee Boo-jin, the eldest daughter of the family that owns Samsung. The Supreme Court upheld the lower court's decision that ordered the Hotel Shilla chief to pay 14.1 billion won ($12.1 million) in an asset split to her estranged husband, Im Woo-jae. The court granted parental rights and custody of their only child to Lee. Lee and Im

Hyundai Motor Co. said Saturday it will produce hydrogen fuel-cell electric commercial vehicles in its Chinese plant to make inroads into the local electric vehicle market.In the China EV100 Forum held in Beijing from Jan. 10-12, Executive Vice President Lee In-cheon, head of Hyundai‘s Commercial Vehicle Business Division, unveiled the plan. In August last year, the Hyundai executive said the hydrogen commercial car production plan will begin in 2023 if the company makes the decision. Sich

Naver Corp., South Korea's top internet portal operator, is witnessing a growth in its webcomic business, which will eventually improve its earnings, industry sources said Friday.  Naver Webtoon, more commonly known as Line Webtoon in the United States, is home to a plethora of creator-owned content, ranging from romance to fantasy.In particular, Naver Webtoon is showing marked growth in the United States after entering the market in 2014.The number of its monthly active users, or MAUs, sur

Fitch Ratings, a global credit ratings firm, said Friday companies involved in the tourism business will bear the brunt of the spreading Wuhan coronavirus if the scale of the virus outbreak increases substantially. "The global airlines, gaming, lodging and leisure sectors are vulnerable to pandemics that influence consumer behavior.Operational disruptions caused by idiosyncratic events, including disease outbreaks, are a perennial risk faced by these sectors," Fitch said in a statement

Samsung Electronics created an in-house technology platform unit and named a new chief for its home appliance business in the company's latest reshuffle, corporate sources here said Thursday. Samsung combined its in-house tech units related with artificial intelligence, internet of things and big data solutions to set up a new tech group, tentatively named "next-generation platform center," according to the company officials.  The center will be headed by Chung Eui-suk, an executi

SK Group Chairman Chey Tae-won promoted the need to upgrade measurements of social value creation during his speech at the World Economic Forum that is underway in Davos, Switzerland, the firm said Thursday.“It is not an option but an obligation to change the goals and systems of corporate management from the interests of shareholders to those of stakeholders,” he said in a panel session held under the theme of “Stakeholder Capitalism in the Asian Century” at the Davos Co

The road to Hyundai Motor Group Executive Vice Chairman Chung Euisun reigning over the nation’s largest automobile giant is predicted to be less bumpy as activist hedge fund Elliott, which had put the brakes on his succession plans, recently sold all its stakes in Hyundai Motor companies. According to the industry, Elliott sold its stakes of 2.9 percent of Hyundai Motor, 2.1 percent of Kia Motors and 2.6 percent of Hyundai Mobis as of Wednesday. Elliott’s departure is expected to giv

Following a recent change in regulations limiting tenures of outside directors, South Korea companies are scurrying to scout new members ahead of their general shareholders meetings in March.Citing a need to reinforce shareholders’ rights and institutional investors, the Cabinet approved on Tuesday revisions to the enforcement decrees of the Commercial Act, Capital Market Act and National Pension Act.To secure independency of outside board directors, the revised rule limits people who have

Eyes on KCGI, Bando Construction, Kakao to see if they back Cho Won-tae or Cho Hyun-ah