Samsung SDS Co. said Tuesday it will expand its partnerships with various industrial players to facilitate the convergence of its enterprise blockchain platform with other technologies and increase utlization.The IT service subsidiary of Samsung Electronics Co. has been developing cloud-based blockchain technologies for use in the manufacturing, logistics, public sector, finance and health care sectors.  Samsung SDS said it has been working with local hospitals, insurance companies and digi

South Korea’s internet giant Naver said Monday it has introduced a mobile payment system that can be used at stores in Japan, a move that the company said could help Koreans traveling there have a better shopping experience.According to the firm, its users can purchase items in Japan via its own mobile payment service Naver Pay. Using the tool called Cross-Border service, the users can carry out electronic payments by swiping a QR code with mobile devices.  The service is available at

Lee highlights auto parts, 5G and open innovation with outside partners for new businesses

The chief of South Korea’s second-largest retailer Homeplus recently sent out a hand-written letter to employees encouraging them to face the new challenges head-on and strive to become “new best,” the company said Monday.CEO Im Il-soon has been leading the retail chain giant since October 2017.“I am certain that despite the cutthroat competition we can stand as a new force in the retail sector with our hard work. Because we will maximize our excellent distribution capaci

Participants pose in a ceremony to deliver a scholarship worth 100 million won ($84,300) in the name of the late CEO of Incheon International Airport Corporation, Lee Chae-wook, Friday at the auditorium of the Haneul Academy. The donation was made upon the wish of Lee, who passed away in March this year at 73. Haneul Academy, a private high school located in Incheon, opened in 2011 based on 50 billion won in subsidies from IIAC during the time Lee was heading the airport corporation, as par

The following is a transcript of a speech by Korea Forest Service Minister Kim Jae-hyun at the opening of the Asia-Pacific Forestry Week in Songdo, Incheon, on Monday. -- Ed.I would like to sincerely welcome all of you to Asia-Pacific Forestry Week 2019.I am very delighted to invite you all and discuss forest issues in Incheon in June, when verdant greenery reaches its peak. There is a saying that “humans have been living with forests.” But I would like to rephrase it a lit

Samsung Display maintained its top position in the global smartphone display market in the first quarter as more handset makers adopted OLED panels for their premium products, according to the data by IHS Markit.Samsung Display delivered $3.4 billion worth of smartphone displays in the first three months of this year, taking up 40.2 percent of the total market share.Japan Display Inc. was a distant second player with a 12.3 percent share, and China’s BOE came in third with 11.9 percent. Wh

Korea Forest Service hosts 5-day event to share South Korea‘s sustainable forest management, global projects

The 2019 Herald Business 氣 UP Forum on Monday called for bold innovations in the manufacturing and service sectors, and business buoyance through the governmental regulatory sandbox. South Korean Prime Minister Lee Nak-yeon and Herald Corp. CEO Kwon Chung-won gave welcoming remarks at the forum that was held at the Korea Chamber of Commerce and Industry.This is the third year the Herald Business, a Korea Herald sister company, is holding the 氣 UP Forum. The name is a play on words that construct

Five cryptocurrency exchanges have changed their terms of service in a way that they can be liable for problems caused by potential cyberattacks or system malfunctions, even if operators are not willfully or grossly negligent, South Korea's antitrust regulator said Monday. The Fair Trade Commission said Bithumb and four other cryptocurrency exchanges made the changes after receiving the corrective recommendation from the FTC in April last year.The cryptocurrency exchanges had said in their terms

South Korea's health care and cosmetics exports surged to $14.6 billion last year, helped by solid demand, the Ministry of Health and Welfare said Monday.Outbound shipments of drugs, medical equipment and makeup products jumped 19.4 percent from the previous year, with the annual average growth rate for the past five years hitting 21 percent, according to the ministry. Of the total, cosmetics accounted for $6.3 billion followed by drugs and medical equipment at $4.7 billion and $3.6 billion, res

Lucrative deal adds momentum to asset manager’s diversified alternative investments

Four out of 10 vehicles sold in South Korea from January to May were sport utility vehicles, reflecting growing demand for recreational vehicles, industry sales data showed Monday. In the first five months, domestic and imported carmakers sold 612,043 vehicles, with SUVs accounting for 42 percent, according to data from the Korea Automobile Manufacturers Association and the Korea Automobile Importers and Distributors Association. "The ratio of SUVs in overall passenger car sales is expected

McDonald’s Korea said Monday that it is recruiting 120 administrative managers who will work at its some 420 restaurants nationwide.According to the fast-food chain, applicants will go through the document screening, interview and practical assessment in a restaurant environment. Successful candidates will take training course as trainees and will be dispatched to stores from August. The new managers will be given opportunities for promotion to general manager of the store or regional

Samsung Display Co. maintained its dominant position in the global smartphone display market in the first quarter as more handset makers adopted OLED panels for their premium products, a market researcher said Monday. The display making unit of Samsung Electronics shipped $3.4 billion worth of smartphone displays in the January-March period, accounting for 40.2 percent of the total market share, according to the data by IHS Markit.  The Korean firm's market share shed 6.6 percentage points