The structures of more than 90 percent of LG businesses will be transformed in environments powered by cloud computing systems by 2023, the conglomerate’s information and technology solution provider said. 　During a press conference held in Seoul on Friday, LG CNS said it will assume a “central role” in introducing cloud services across all LG business units. The company said it would provide a cloud services platform applicable to every LG unit by the first half of this year.　Stressing it was

　With South Korea and the US gearing up for the commercial rollout of their fifth-generation wireless networks next month, the countries’ smartphone manufacturers are scrambling to attract consumers by touting their functionalities. 　The starting players are Samsung Electronics, the world’s largest smartphone maker, which is betting on its advanced technologies, and Motorola, which is hoping that its high-tech functions and midrange pricing will help it leap out of its No. 8 position. 　Samsung E

Amid concerns growing over slowing demand for memory chips, SK hynix CEO Lee Seok-hee said Friday he would focus on strengthening the chipmaker’s fundamental competitiveness and improving the chip yield rate to cut production costs. “After an unprecedented boom for the past two years, we are expecting to face growing uncertainties in the global economy and slowing demand for memory chips,” the CEO told reporters after an annual shareholders meeting held at its headquarter in Icheon, Gyeonggi Pro

Global online social networking service Twitter Inc. aims to make more people participate in "public conversation" in South Korea, the company's chief said Friday."We believe public conversation influences and drives society," CEO Jack Patrick Dorsey told reporters in Seoul, adding that the company is focusing on making the platform healthier. Jack Dorsey, co-founder and chief executive of Twitter, speaks during an event at a Seoul hotel on March 22, 2019, to celebrate the platform`s 13th annive

Samsung Electronics announced Friday it will start selling the Galaxy S10 5G from April 5, to become the world’s first to launch a device for the fifth-generation telecommunications network. The company said the Galaxy 5G model will be available at Samsung outlets and its online mall as well as at shops of mobile carriers in Korea.  Models introduce Galaxy S10 5G at the MWC 2019 in February.The South Korean tech firm said it will not be taking preorders for the 5G model. Instead, it will run a p

South Korean tech firm LG Electronics said on March 21 its new flagship smartphone, the G8 ThinQ, will officially go on sale in the domestic market this week. 　The G8 ThinQ is priced at 897,600 won ($796) and will hit store shelves on March 22, and be available in the North American and European markets in the coming weeks. 　The price is slightly less expensive than the Samsung Galaxy S10e, the “budget model” of the tech giant‘s latest flagship phone that is priced at 899,800 won. 　The G8 featur

The EU's powerful anti-trust regulator slapped tech giant Google with a new fine on Wednesday over unfair competition, in Europe's latest salvo against Silicon Valley. (Yonhap)"Today the commission has fined Google 1.49 billion euros ($1.69 billion) for illegal misuse of its dominant position in the market for the brokering of online search adverts," EU Competition Commissioner Margrethe Vestager said.In its third major decision against the search engine behemoth, Brussels sanctioned Google's Ad

In the first shareholders meeting Wednesday since a 50:1 stock split in May last year, Samsung’s chief executives vowed better performance with technological leads in 5G and artificial intelligence, while some shareholders strongly lambasted the constantly low share price.Some 1,000 shareholders attended the meeting held at the Seocho headquarters of the conglomerate, which was attended by Vice Chairman Kim Ki-nam, Kim Hyun-suk, chief of Samsung’s consumer electronics division, and Koh Dong-jin,

South Korea’s leading mobile messenger operator, Kakao, is seeking to make inroads into the tourism industry after acquiring a local travel company. According to Kakao’s publicly filed 2018 financial audit report, it purchased a 28.9 percent stake in Tidesquare. The estimated value of the deal was 34.7 billion won ($30.7 million). Despite Kakao’s stake in Tidesquare being less than a majority, the travel company was listed as a subsidiary of Kakao. This is because the potential voting rights gra

Lower-than-expected Q1 estimates of Samsung, SK hynix overclouds chip-reliant economy

In response to Chinese panel makers’ latest moves to start producing large liquid crystal display panels, market analysts called on Korean display companies to speed up execution of their plans to switch existing LCD panel production lines to organic light-emitting diode panel lines at a conference held in Seoul on Tuesday. “In the long run, it is clear that LCD prices are going downhill -- with some quarterly ups and downs -- but Samsung Display and LG Display are still being cautious about shu

Concern persist among experts over government’s ‘hasty’ efforts to clinch the title of world’s first 5G service

LG Electronics CEO Jo Seong-jin recently conceded that as a newcomer in the mergers and acquisitions market in 2015, the firm had a tough time acquiring a stake in family-owned Austrian headlight maker ZKW Group. After years of negotiations, the tech giant and its holding firm LG Corp. were finally able to purchase shares worth 1.1 billion euros ($1.25 billion) in April 2018. It marked the largest acquisition in its 70-year history. Before that, it was focusing on research and development. (Hera

Sweden-based audio streaming platform Spotify is poised to enter the South Korean digital music market worth 1 trillion won ($880 billion), according to the Electronic Times on March 18. The local media report cited anonymous sources in the industry noting that the Swedish firm has initiated negotiations with copyright collectives to discuss the distribution rates of contents. Some Apple Korea employees have also already signed on to join Spotify Korea.  “The demand for K-pop mu

Tech giant seen moving fast to maintain lead on prediction of market recovery next year