SKT’s IoT network system to spur new services including off-site monitoring of manholes and light posts as well as tracking down lost pets and cell phones

South Korea’s antitrust regulator has concluded its review of the controversial merger between SK Telecom and CJ HelloVision, ending seven months of assessments on the possibility of the deal impeding fair market competition, according to industry sources Monday.The Fair Trade Commission has reportedly sent its report to SK Telecom, they said without elaborating. The state-run regulatory body will also send the review to the Korea Communications Commission and the Ministry of Science, ICT and Fu

[THE INVESTOR] Korea’s top battery makers Samsung SDI and LG Chem have lost market shares in the US electric vehicle market due to robust sales of EVs powered by their Japanese rivals. According to industry data, the Korean duo made up a combined 23 percent of market shares in the US in May, down from 35 percent in April. In the meantime, Japanese companies saw their market shares soar from 65 percent to 87 percent. Most of the top-selling EVs of the month were powered by Japanese-made batteries

[THE INVESTOR] Samsung Electronics’ European sales proportion of its entire revenue has been on a downward trend in recent years, according to the tech giant’s sustainability report on July 3. Samsung earned 38.6 trillion won (US$33.6 billion) in 2015, which takes up 19 percent of the firm’s overall revenue, at 200.7 trillion won, in the European region, including countries belonging to the Commonwealth of Independent States.Participants in the Samsung Europe Forum, a showcase event held in Mona

[THE INVESTOR] LG Electronics will reportedly cease its auto engineering business this year.　The tech giant has been running the business for the past 10 years, designing and manufacturing car frames for carmakers.　Car companies in emerging nations including Indonesia and India are major customers of the Korean firm. The move is said to be aimed at quelling rumors that the company would jump into the automobile business in earnest. 　Having set up a vehicle component division in 2013 after mergin

[THE INVESTOR] Samsung Electronics has helped build smart factories for 105 small and medium enterprises during the first half of the year, the company said July 4.Starting with support to 120 SMEs in North Gyeongsang Province last year, the electronics company has accelerated its steps to build smart factories in other regions including Gyeonggi Province, Jeolla provinces and Chungcheong Province, with the total number currently reaching 225.  Saehan TungstenThe tech giant said it aims to sprea

[THE INVESTOR] LG Electronics unveiled OLED TVs systematically adjusted for the hospitality industry at a global expo, the company’s spokesperson said on July 4. The organic light-emitting diode manufacturer recently displayed its hotel TV models, 55- and 65-inch class televisions at the 2016 Hospitality Industry Technology Exposition & Conference held in New Orleans. The razor sharp design combined with its high definition picture quality, supported fully by LG’s OLED technology is set to provi

[THE INVESTOR] LG Electronics will reportedly cease its auto engineering business this year.The tech giant has been running the business for the past 10 years, designing and manufacturing car frames for carmakers.Car companies in emerging nations including Indonesia and India are major customers of the Korean firm. LG Electronics’ lightweight vehicle frame / LG Electronics　The move is said to be aimed at quelling rumors that the company would jump into the automobile business in earnest. Having

[THE INVESTOR] Samsung Electronics’ sales in China continued its downward spiral for the third consecutive year in 2015, according to a report released by the tech giant on July 3.The annual revenue in the Chinese market continued to decrease from 40.1 trillion won (US$34.9 billion) in 2013, 33 trillion won in 2014 and 31 trillion won in 2015, according to its sustainability report 2016, an annual report that provides information on the firm’s performance on economic, environmental, and social f

[THE INVESTOR] LG Electronics is expected to announce its second-quarter earnings guidance on July 8. Local analysts estimate the company’s operating profit to stand at about 594.7 billion won (US$517 million). The Korean tech giant started releasing its quarterly earnings guidance since the first quarter this year. LG Electronics’ Seoul headquartersAnalyst say that despite the lukewarm sales of its flagship smartphone G5, the company’s robust TV and appliance sales could make up for the operati

[THE INVESTOR] Samsung Electronics, which has continued streamlining its workforce on its home turf, reduced more than 10,000 employees in the all-important Chinese market last year, according to its recent sustainability report. According to the report published on July 3, a total of 325,677 people worked at the Korean tech giant last year globally, compared to 319,208 workers in 2014. Only Southeast Asia and Japan saw their employee numbers increase over the past year. Especially in Southeast

[THE INVESTOR] Tech giant Samsung Electronics will release its earnings for the April-June quarter on July 7.All eyes are now on whether its operating profit crosses the 8-trillion-won (US$6.9 billion) threshold for the first time in two years. The firm earned 8.5 trillion won in the first quarter of 2014.Samsung posted more than 8 trillion won of operating income for the seventh consecutive quarter since the third quarter of 2012. Its operating profit reached its peak in the third quarter of 20

Korea had the highest average Internet connection speed in the world in the first quarter of this year, according to a report by Akamai Technologies, a content delivery network provider headquartered in the U.S. The report released Friday showed that in the first quarter of the year, Korea had four times faster average Internet speed at 29 megabits per second, an 8.6 percent increase over the previous quarter. It was followed by Norway, Sweden, Hong Kong and Switzerland. The world average was 6.

 [THE INVESTOR] Mobile messenger operator Kakao has opened its flagship store for character products based on its mobile stickers, called Kakao Friends, in the posh Gangnam district, Seoul, aiming to expand its clout in the mobile world into the retail realm.Despite the heavy rain in Seoul on Saturday, more than a thousand people formed a snaking line in front of the store on the opening day of the Kakao Friends Flagship Store.Kakao`s flagship store in Gangnam. KakaoAs Kakao ran a series of prom

LG Chem CEO and vice chairman Park Jin-soo meets with participants Friday at its recruiting event held in Tokyo‘s New Otani Hotel, where Park shares the company’s vision with around 40 students invited from Japan’s top 10 universities. (LG Chem)