Kakao Taxi, South Korea’s most widely used taxi-hailing mobile app, is introducing a “paid option” that lets users call up taxis faster or immediately by paying an extra fee on top of the ride fare.　The move marks Kakao’s first attempt to monetize Kakao Taxi, which, despite amassing a large user base over the years, has yet to find a concrete business model for generating stable profits.　Kakao Mobility, which operates all of Kakao’s mobility services including Kakao Taxi under the collective Kak

Korea’s top science and technology university aims to become one of world’s top 10 universities by 2031

LG Electronics has opened its first premium brand shop in Kuwait as part of efforts to push its top-tier products in the Middle East, the company said Tuesday.The two-story, 433-square-meter store opened Sunday (local time) at the Rozanah Mall in Kuwait. The store features a premium experience zone displaying products such as those from the LG Signature line.Visitors to the store can browse and test out products such as LG’s premium organic light-emitting diode TVs, washing machines and refriger

Daewoo Electronics, a new subsidiary of South Korean midsize conglomerate Dayou Group, said Monday the company would enter new provinces in the Midwestern part of China with an aim to target the premium market there. It is the first overseas expansion for Daewoo Electronics since the firm was acquired by Dayou last month, using the group’s existing distribution network in China.Daewoo will provide its home appliances for large retailers in Sichuan, Hunan and Wuhan province, starting this year. T

The global semiconductor market is expected to grow at a faster-than-expected click this year thanks to rising demand for DRAMs and other chips, industry sources said Monday.With concerns over an oversupply in the second half of this year waning, more market trackers have revised up their growth projections for the world chip market this year, putting shares of chipmakers on an upward curve.According to the sources, a recent report from the World Semiconductor Trade Statistics has forecast globa

The South Korean smartphone market gave a tepid response to the release of the Samsung Galaxy S9 and S9+ smartphones, driving down expectation on the newest premium smartphones this year. According to the telecom industry, preorders of Galaxy S9 and S9+ devices made from Feb. 28 with subscriptions to one of three mobile carriers were estimated to near 180,000 units, reaching about 70 percent of the preorders of predecessors Galaxy S8 and S8+phones. Samsung is launching the S9 series more than a

Chilean project guarantees stable supply of lithium to Korean firms, officials say

Driven by surging demand for EV batteries, ESS, company expects W36tr in sales in 2020

Smart contracts based on blockchain technology can effectively prevent delays in payments for delivered goods and make it impossible to unilaterally alter original contracts, a local think tank said Sunday.The report by Korea Small Business Institute said blockchains can open new horizons for how small and medium enterprises conduct business with their larger contractors.Blockchain, often associated with cryptography and virtual currency, is considered an incorruptible digital ledger that can do

The first-day sales performance of Samsung Electronics Co.'s new flagship Galaxy S9 smartphones were around 70 percent of the previous series in South Korea, industry sources showed Saturday, reflecting the market's weaker-than-expected reaction.   According to the sources, 180,000 units of Galaxy S9 smartphones were distributed through the country's three mobile carriers on Friday, lower than the 260,000 units posted by the Galaxy S8 series. Samsung's new smartphone is currently available only

Miso CEO Victor Ching dreams of creating a cleaning business version of Uber

Samsung Bioepis, the new drug development arm of South Korea’s Samsung Group, has launched its Herceptin biosimilar in the UK through its local marketing partner MSD, becoming the first company to bring a cheaper copy of the blockbuster anticancer drug to Europe.　MSD, also known as Merck & Co. in North America, announced Thursday that Ontruzant, the first biosimilar copy of Roche’s breast cancer therapy Herceptin (trastuzumab), had begun sales in the UK. Biosimilars refer to cheaper, near-replic

ICHEON -- Human players handily beat robots with artificial intelligence (AI) in a curling game on Thursday, despite the machines demonstrating evolving skill levels.At a competition hosted by the Ministry of Science and ICT, two robots named Curly exhibited considerable skill in placing stones on target and showed the ability to formulate strategy.Two robots named Curly face off against a human team at a competition hosted by the Ministry of Science and ICT in Icheon Thursday. (Yonhap)The robot

Samsung SDS, the IT solutions and logistics service arm of South Korea’s Samsung Group, is seeking to outshine rivals in the global logistics business with its smart logistics platform that leverages artificial intelligence and blockchain technology to improve operational efficiency.　The company on Thursday shared the latest upgrades to it smart logistics platform Cello -- an end-to-end integrated logistics solution that handles logistics process from start to finish, including supply chain plan

Overall slowdown in smartphone market pulls down sales predictions