The Korea Herald

Samsung Electronics' earnings expected to rebound in Q4

Sept 27, 2016

The global recall of the Galaxy Note 7 smartphones may cut Samsung Electronics' projected third-quarter operating profit by over 5 percent, but the global giant's earnings are expected to rebound in the fourth quarter, industry analysts said on Tuesday.A survey by financial information provider FnGuide showed that Samsung is expected to post an operating profit of 7.67 trillion won ($6.89 billion) for the third-quarter of this year, a fall of 5.3 percent from a pre-recall forecast. Before Samsun
Samsung, LG likely to see contracted earnings in Q3

Sept 26, 2016

South Korean tech giants Samsung Electronics and LG are likely to see contracted earnings in the third quarter due to sluggish smartphone sales, market analysts said Monday. Local financial data provider FnGuide recently set the market consensus for Samsung Electronics’ operating profit for the July-September period at 7.6 trillion won ($6.8 billion). The figure is a more than 8 percent fall from the same period last year and 1 trillion won below market expectations before reports of the Galaxy
KT acquires online ad agency N Search Marketing

Sept 26, 2016

KT Corp., South Korea's largest broadband Internet operator, said Monday it has acquired the nation's top online advertising agency N Search Marketing Corp.The acquisition paves the way for KT to make inroads into the growing market for search-based ads.KT and its online ad affiliate Nasmedia Corp. purchased a 100 percent stake in N Search Marketing from the ad agency's parent company Hahn & Company for 60 billion won ($54.1 million).KT owns a 33.3 percent stake in N Search Marketing, while Nasm
LG Uplus partners with Ssangyong, Tech Mahindra for connected cars

Sept 26, 2016

South Korean telecom company LG Uplus on Monday said that it has partnered with Ssangyong Motor and Tech Mahindra, the internet technology unit of Indian automaker Mahindra & Mahindra, for the development of new connected car technologies.　The three companies signed a memorandum of understanding in Seoul, agreeing to team up for the development of new platform technologies and network services for Ssangyong’s connected car business. L. Ravichandran, President & COO of Tech Mahindra (left); Yoon
More than half of Galaxy Note 7 owners get replacements in Korea

Sept 25, 2016

More than half of Galaxy Note 7 owners in South Korea have swapped their used phablets for new ones, six days after Samsung Electronics Co. began a replacement program as part of a global recall over battery problems, industry officials said Sunday. The number of Note 7 owners who have received replacements exceeded 200,000 as of Saturday, the officials said. About 429,000 Note 7s were said to have been sold in South Korea.Only 5 percent of Note 7 owners are said to have received a full refund,
LG Uplus sets sights on global expansion

Sept 25, 2016

LG Uplus to ramp up investment in AI, IoT
LG Chem aims to achieve W7tr in EV battery sales by 2020

Sept 25, 2016

South Korea’s battery and chemical company LG Chem said Sunday it set a goal of reaching 7 trillion won ($6.3 billion) in sales for electric vehicle batteries by 2020. The battery-maker also plans to start the construction of its EV plant in Poland this year, marking its third global presence after the US and China. “We aim to become the No. 1 electric car battery-maker by 2018 in terms of market position, technology and profitability by leading the EV market poised to grow,” said Lee Woong-beom
China begins reducing tariffs on 201 technology goods

Sept 25, 2016

China has begun reducing its tariffs on a range of technology goods imported from World Trade Organization members, South Korea's customs authorities confirmed Sunday. On Sept. 15, China started reducing import tariffs on 201 technology goods under the Information Technology Agreement of the WTO, according to the Korea Customs Service. China will eliminate import duties on the goods over the next three to seven years. The technology goods included TV cameras and set-top boxes for satellite TVs,
More than half of Galaxy Note 7 owners get replacements in Korea

Sept 25, 2016

More than half of Galaxy Note 7 owners in South Korea have swapped their used phablets for new ones, six days after Samsung Electronics Co. began a replacement program as part of a global recall over battery problems, industry officials said Sunday. The number of Note 7 owners who have received replacements exceeded 200,000 as of Saturday, the officials said. About 429,000 Note 7s were said to have been sold in South Korea.Only 5 percent of Note 7 owners are said to have received a full refund,
Battery problems persist in exchanged Samsung Galaxy Note 7

Sept 23, 2016

Samsung Electronics has been replacing its Galaxy Note 7 devices that have faulty batteries which might explode, but the new handset still has battery issues, according to a news report Friday. News channel YTN reported that a Galaxy Note 7 buyer, surnamed Choi, had received a new Note 7 through the tech firm’s recall program, which began on Sept. 19 in Korea. His new phone, however, had a battery that drained quickly, with its battery level dropping almost 1 percent every second. It also overhe
Samsung heir Lee Jae-yong ranks 18th on ‘Most Influential’ list

Sept 23, 2016

Samsung Electronics Vice Chairman Lee Jae-yong ranked 18th on Bloomberg’s annual list of the “50 Most Influential People in the World of Finance” published Thursday.　Bloomberg’s 50 Most Influential list -- now in its sixth edition -- highlights prominent figures who command the most power and influence over global financial markets, as chosen by Bloomberg’s senior reporters and editors worldwide.Lee made the Bloomberg list alongside other chiefs of major tech companies such as Tesla Motors co-fo
100 mln households to have HDR TVs by 2020: data

Sept 23, 2016

More than 100 million households in the world will have Ultra HD TVs equipped with the High Dynamic Range technology in five years, a U.S.-based industry tracker said Friday.A total of 107 million households with over 250 million viewers will watch shows on TVs using the latest technology, HDR, according to the Strategy Analytics.The HDR technology allows screens to deliver vivid displays by optimizing brightness depending on colors, boasting improved quality compared with previous Ultra HD TVs.
Smartphone shipment to China drops 27%

Sept 23, 2016

South Korean companies' exports of mobile handsets, including smartphones, to China dropped by more than 27 percent in the first eight months of the year from a year earlier amid the rising presence of Chinese rivals there, a report said Friday.According to the Institute for Information & Communications Technology Promotion, shipment of mobile handsets and related parts to the neighboring country reached $2.74 billion in the January-August period, down 27.2 percent from the same period last year
Samsung struggles to restore reputation amid false reports of Galaxy Note 7 fires

Sept 22, 2016

A string of false consumer allegations that their Galaxy Note 7 devices caught fire is dampening Samsung Electronics’ efforts to restore its reputation and consumer trust hurt by faulty batteries prone to potential explosions.Since announcing a worldwide recall of its new large-size smartphone earlier this month, the South Korean tech giant has received a total of 26 false reports of Galaxy Note 7 fires, the company said Wednesday. Samsung’s Galaxy Note 7 (Yonhap)For 12 of the 26 reported cases,
K-ICT Born2Global Center and its Members ⑪ WELT

Sept 22, 2016

Smart belt company WELT‘s Kickstarter campaign gains momentumOn Sept. 22, the startup company WELT announced that, having accumulated $70,000 as of Sept. 12, it had raised more than double its original crowdfunding goal for its independently developed smart belt. The smart belt is a wearable health care device that measures and helps users manage health indicators based on the abdominal area. WELT recently displayed the product at the IFA, an annual consumer electronics show held in Germany, whe