South Korean internet giant Naver on Thursday reported that its third-quarter revenue surged 20.5 percent on-year to reach 1.01 trillion won ($890 million), led by growing sales from its overseas and mobile businesses. 　It is the first time ever that Naver’s quarterly earning has surpassed 1 trillion won, the company said in a regulatory filing. In the July-September period, Naver’s operating profit surged 27.6 percent from a year earlier to 282.3 billion won. Its consolidated net profit came in

Lee Jae-yong, vice chairman of Samsung Electronics, is set to join the boardroom responsible for the management of the South Korean tech giant after a shareholders’ vote Thursday morning. Shareholders attending the meeting scheduled to be held at 10 a.m. in Seoul will be asked to vote on appointing Lee, the only son of Samsung chairman Lee Kun-hee, by a show of hands. The bill is expected to be passed smoothly, as the majority of investors in and out of the country have already expressed their a

Samsung Display is betting on panels for virtual reality and augmented reality to further expand its presence in the mobile OLED market, its top engineer said at a display seminar on Wednesday. “We are expecting the mobile OLED market to grow thanks to the advent of new applications such as virtual reality and augmented reality,” Park Won-sang, Samsung Display’s principal engineer, said at the International Meeting on Information Display held in Seoul. He said the shipment of virtual reality dev

As Samsung Electronics Vice Chairman Lee Jae-yong becomes a board member, taking greater control of the South Korean tech giant, he shoulders a daunting task -- ensuring the future sustainability of Samsung Group.　The world’s biggest maker of smartphones and chips is seeking leadership in new, promising industries that could supplement -- or even replace -- its flagship electronics business which is facing tough market competition and stagnant growth.　Continuing along the path laid out by his ai

Samsung Electronics Co. said Wednesday it will launch its mobile payment service, Samsung Pay, in Russia, Thailand and Malaysia later this year, bringing the service to a total of 10 countries. The South Korean tech giant said it will form a partnership with Mastercard to offer a simplified online payment and express checkout solution through its digital payment service Masterpass, starting early next year.Samsung announced the plan at Money 20/20, a major fintech conference, held in Las Vegas.

South Korea and France will invest a combined 3 billion won ($2.65 million) in the coming three years to develop self-driving technology, the trade minister here said Wednesday.In a Seoul forum, the two sides agreed on the project to jointly study traffic jam assistant technology, which helps a car drive itself in traffic-jam conditions, according to the Ministry of Trade, Industry and Energy.Each country will fund 500 million won every year over the next three years, it added.Leading auto compa

Leading technology companies gathered for South Korea's major electronics show on Wednesday to showcase their smart gadgets, consumer electronics, mobile applications and smart electric vehicles.Hosted by the Ministry of Trade, Industry and Energy, the 47th Korea Electronics Show 2016 kicked off at COEX in southern Seoul to run until Saturday, presenting 1,500 booths for 500 companies at home and abroad.  Visitors play games at a gaming zone at Korea Electronics Show 2016 held at COEX in Seoul o

Apple’s iPhone 7 and LG Electronics’ V20 have taken a sizable portion of the Korean smartphone market since their recent launches, which came on the heels of Samsung’s production halt of the Galaxy Note 7.The market is expected to see a continuous inflow of undecided customers as Samsung Electronics plans to urge remaining Note 7 owners to change their fire-prone devices.Since the iPhone 7 was first rolled out on Friday, around 62,000 consumers changed their telecom operators, according to the K

Sales of Apple’s iPhone 7 and iPhone 7 Plus began in South Korea on Friday, amid high expectations that the US tech giant could reap added success here in the absence of Samsung Electronics’ Galaxy Note 7. 　　Apple officially launched its latest iPhone series through Korea’s three major mobile carriers SK Telecom, KT and LG Uplus as well as local Apple retailer Frisbee, with sales starting from 8 a.m. on Friday.　Korea has long been a tough market for Apple, as Samsung has maintained its undispute