South Korea is seeking ways to levy a corporate tax on profits of global technology companies and other multinationals as early as next year in response to growing criticism of their tax avoidance structures. The diverted profits tax is more widely called the “Google tax,” as U.S. tech giants such as Google, Apple and Amazon earn a lot of money around the world, but collect nearly all of the profits in tax havens. “The rest of the world is considering the adoption of the ‘Google tax’ because the

Samsung Group has more recently focused considerable resources into the biotechnology business with aims to become a major force in the still nascent but lucrative market.The nation’s largest conglomerate is investing at least $2 billion in biopharmaceuticals, especially the soaring segment of biosimilars -- cheaper copied versions of branded drugs whose patent has expired. Samsung Biologics` production plant in Songdo, IncheonAnd two Samsung units -- Samsung Bioepis and Samsung Biologics -- are

Samsung Electronics, the crown jewel of Samsung Group, has been leading the nation’s technological innovation for decades. Amid enhanced economic uncertainties, the company pledges to fend off challenges through innovative new products and relentless research and development efforts.  Samsung Group`s headquarters buildings in Seocho-dong, southern SeoulThe company recently posted third-quarter earnings guidance that beat analysts’ estimates. The company estimated its profit rose almost 80 percen

Value-added network, or VAN, operators are resisting Hyundai Card’s recent decision not to pay sales slip fees for payments made by Samsung Pay, the Korean tech giant’s new mobile wallet service. VAN companies get paid for collecting credit card slips from merchants and inspecting illegal card use. They earn about 20 to 30 percent of the revenue from the process. But Hyundai Card, the nation’s second-biggest card issuer affiliated with Hyundai Motor Group, has recently decided to stop paying fee

OECD ministerial meeting, World Science and Technology Forum to kick off in Daejeon

SONY RELEASES WORKOUT GADGET-- Sony Korea launches smart sports gear Smart B-Trainer, featuring an MP3 player, gyroscope, GPS and heart rate sensor, in Seoul on Friday. (Sony)

EXPLORATION OF VIRTUAL REALITY TECH -- Choi Jin-sung (right), chief technology officer of SKT, and Leap Motion CEO Michael Buckwald pose after signing a partnership agreement in Seoul on Thursday. SK has sought a global partner to develop virtual reality multimedia services. (SKT)

LG Chem on Wednesday opened its first Chinese tech center aiming to respond more promptly to local demands in the all-important market.The two-story building with one basement is located at a 4,000 square-meter site in Guangzhou, the capital city of Guangdong Province in southern China. A total of 10 billion won ($8.8 million) was invested for the construction alone. Some 40 researchers, including those hired locally, will be working at the new facility to offer total solutions for product devel

South Korea’s leading energy solutions developer LG CNS said Thursday that it had completed the construction of two floating photovoltaic power plants in Otae and Jipyeong Reservoirs in Sangju, North Gyeongsang Province.The two floating solar power plants, each with 3 megawatts generating capacity, are the largest in terms of capacity of power generation. LG CNS‘s floating solar power plant on Otae Reservoir in Sangju, North Gyeongsang Province. (LG CNS)The solar panels cover around 64,000 squar

WALL-MOUNTED WASHER ENJOYS STEADY GROWTH -- Dongbu Daewoo Electronics said Thursday the accumulative sales of its wall-mounted front-loading washer Mini surpassed 100,000 units worldwide, posting more than 30 percent growth in sales every year since its release in 2012. (Dongbu Daewoo)

KT RECOGNIZED FOR WI-FI TECHNOLOGY -- South Korea’s leading mobile carrier KT said Thursday its kt wiz park, the home stadium for the kt wiz professional baseball team in Suwon City, won the Best High Density Wi-Fi Deployment in a Venue -- an award granted to a network operator achieving the best advances in venue deployments -- at the WiFi Industry Awards 2015 in San Jose, California, on Wednesday. The award event is organized by the Wireless Broadband Alliance, an industry organization to prom

GALAXY NOTE GLITTERS WITH NEW COLORS -- Samsung Electronics said Thursday it has added new color options -- silver titanium and gold pink -- for its premium phablet Galaxy Note 5 lineup. The mobile device now comes in five colors including white pearl, black sapphire and gold platinum. (Samsung)GALAXY NOTE GLITTERS WITH NEW COLORS -- Samsung Electronics said Thursday it has added new color options -- silver titanium and gold pink -- for its premium phablet Galaxy Note 5 lineup. The mobile device

Shakr powers portal giant’s video creator for global expansion