Representatives from a consortium of prospective buyers met with the chief of Pantech Co. on Wednesday to discuss its bid for the embattled handset maker, industry sources said, accelerating its move to conclude the deal.The officials from the consortium, led by optical manufacturer Optis, visited Pantech's headquarters in Seoul and had a meeting with President Lee Joon-woo and other executives to talk about their proposed 40 billion won ($35.7 million) takeover bid, the sources familiar with th

Pantech, South Korea’s troubled No. 3 smartphone-maker, is hoping to find a new owner before filing for bankruptcy. The Seoul Central District Court said Tuesday that a local consortium, led by optical manufacturer Optis, has signed a memorandum of understanding with Pantech, with the two sides set to complete the deal by July 17. The consortium plans to start its own inspection into the company and to finalize the acquisition process. Pantech, which has suffered from sluggish device sales, was

Thales, Europe’s largest defense electronics company, will decide on the sale of its 50 percent stake in Samsung Thales one year after its new owner Hanwha Group completes the acquisition process later this month. Samsung Techwin, which owns the remaining 50 percent of stakes in the joint venture, said in a regulatory filing Tuesday it has inked an option deal with Thales.Under the agreement, Thales has a put option that allows it the right to sell the shares, while Samsung Techwin is given a ca

Daum Kakao, the operator of South Korea’s No. 1 mobile messenger KakaoTalk, said Tuesday it has launched a new video call feature for its popular app service that allows users to chat face-to-face with their KakaoTalk friends. With Wi-Fi connections, users can make unlimited video calls regardless of their smartphone operating system ― be it Google Android or Apple iOS. KakaoTalk now offers texting, voice and video call services. “We hope the inclusion of video call will enhance intimacy among f

LG CNS, South Korea’s leading systems integration developer, said Sunday it would beef up its efforts to increase its footing in the U.S. energy market with its capabilities in information technology solutions.The energy storage system market has emerged as a future-promising energy business segment as more corporations begin to pay attention to how to save on energy bills and run their businesses more efficiently. As companies need different energy storage systems to meet their needs, the deman

South Korea's tech giant Samsung Electronics Co. said Thursday it has emerged as the top holder of standard-essential patents related to long-term evolution and LTE-Advanced technologies.  Citing data compiled by the Taiwan-based Intellectual Property Office, Samsung said it took up 17 percent of the world's standard essential LTE-related patents, outpacing major global rivals.  Standard-essential patents refer to major technologies that are vital in producing standardized products.  "Samsung's

The Ministry of Science, ICT and Future Planning on Wednesday unveiled a three-year plan for information security in the coming Internet of Things era that connects all mobile and electronic devices through the Web. The government also plans to support the development of key technologies as part of its efforts to nurture related industries as the next growth engines. Under the plan, the ministry will offer a set of guidelines to be used for the whole process of production, distribution and maint