Ericsson-LG demonstrated the next-generation network 5G on Thursday. It marked the first time that the network equipment manufacturer had showcased the network in Korea. The 5G network equipment used for the demonstration offered a peak download speed of 26 gigabit per second, around 350 times faster than the current Long-Term Evolution network. “I feel proud of the Ericsson-LG researchers at the Anyang R&D center who are contributing to achieving technical innovation for both Korean and global

President Park Geun-hye vowed Thursday to innovate Korea's research and development (R&D) system, stressing the country's prowess in science and technology is the key to staying ahead of the competition. Park made the latest pledge as Korea is finding itself "sandwiched" between intense competition with advanced countries and challenges by emerging economies that have managed to bridge the technology gap to a considerable extent  President Park Geun-hye (Yonhap)A weaker Japanese yen and China's

Kakao Corp., the operator of South Korea's top mobile messenger KakaoTalk, said Thursday its first-quarter net profit plunged 64.5 percent, as its advertisement business suffered falling seasonal demand and it spent big on new businesses.Net profit reached 10.9 billion won ($9.3 million) in the January-March period, compared with 30.8 billion won the previous year, the company said in a regulatory filing. Operating income also dropped 47.7 percent on-year to 21 billion won, while sales rose 3.5

LG Electronics on Wednesday launched a new CordZero vacuum cleaner with a wet mop function. After the front motor sweeps dirt, a mopping kit dampens a cleaning pad and wipes the floor. The cleaner is priced at 429,000 won ($366). (LG Electronics)

South Korean network operator KT has formed an alliance with global network equipment firms including Samsung Electronics and Nokia to jointly roll out technology standards and services of the next-generation network 5G for the 2018 Pyeongchang Winter Olympics.The network operator said Wednesday that the company and its partners have launched the strategic alliance, dubbed KT 5G Development Forum, though which participants will develop mobile devices and network systems running on the 5G network

Microsoft is hoping to expand its presence in the nation’s nascent but fast-growing cloud service market, launching two data centers here by 2017. Its Korean operations said its two centers in Seoul and Busan will be operated from September 2017. The company did not specify the location and size of the facilities, citing privacy of corporate clients.  Microsoft Korea CEO Alfred Koh speaks at a press conference in Seoul on Wednesday. (Microsoft Korea)“We had some limitations in meeting local dema

A sales person poses with Apple’s iPhone SE at a retail store of SK Telecom on Tuesday. The 4-inch screen iPhone went on sale in Korea on the day through local telecom carriers and retailers. Prices start from 569,800 won ($485) for the basic 16G model. (Yonhap)

LG Electronics’ mobile communications division has decided to carry out a sizeable personnel reshuffle after months of operating losses. “We need to change the way we work to move faster and lighter,” the company’s CEO and mobile chief Cho Juno said in an email message to employees Monday.                                       LG Electronics CEO Cho Juno“Other business divisions also need people from MC (mobile communications). We will continue to reshuffle personnel.”The reshuffle plan comes af

SK Holdings C&C, the information technology services unit of SK Group, said Monday it has teamed up with IBM to launch the Korean version of the U.S. tech giant’s artificial intelligence system Watson early next year. The two companies plan to develop a set of new application programming interfaces within the year that will allow Watson to understand Korean and communicate in Korean. Even after the service launch planned next year, the system will continue to learn Korean upon almost five years

LG Electronics said Monday its clothing care system LG Styler saw monthly sales double in China in the first five months of this year compared to the previous year. The company did not provide specific sales figures. The Styler is a steam closet designed to refresh clothes without washing or ironing them. It doesn’t use chemical detergents, but instead uses steam to deodorize fabrics. The moving hangers shake the wrinkles from the steamed garments.  Customers check out an LG Styler at a shop in

After nearly two years since he was first hospitalized, Samsung Electronics chairman Lee Kun-hee’s health is said to be stable currently. Even though the company does not reply to media inquiries about the chairman’s health, industry watchers assume that he is in stable condition but shows no sign of improving.  Samsung Electronics chairman Lee Kun-hee (Yonhap)“The chairman’s health is his private issue. We do not comment on it,” said a Samsung spokesperson, declining to be named. The Samsung pa

Samsung Electronics has recently set up a new task force to develop chips for self-driving cars, a local news daily reported Sunday. The decision came almost six months after the Korean tech giant launched a new separate team for automotive parts late last year under its chip business division. Citing unnamed sources, the daily said the task force consists of researchers from the chip division’s system LSI unit that produces non-memory chips for mobile application processors and image sensors fo

Market watchers forecast LG would see new heyday with G5

 Tech firm LG Electronics rolled out a massage chair featuring 10 different massage settings and a sleek design to commemorate the month of family in May on Thursday. (LGE)