Korea’s largest telecommunications firm, KT, has signed a deal with Chinese media titan Hengdian Group to jointly build a smart theme park in China, which will incorporate information technology and cultural content. Xu Wenrong (third from right), chairman of Hedingan Group, watches a live 3-D show with Yun Kyoung-lim (second from right), senior vice president of KT’s future convergence strategy office, at the Dongdaemun Design Plaza in Seoul on Monday. (KT)At a signing ceremony for a memorandum

DAEJEON ― The Daejeon Creative Economy Innovation Center, an institute run by SK Group to support start-ups, has become a hotbed of business creativity. Housed at KAIST, one of Korea’s most prestigious tech and science universities, the creative economy center was jointly established by Daejeon Metropolitan City, KAIST, and SK Group last October with an aim to nurture entrepreneurs and help fledgling businesses conduct research and development and commercialize their technology at home and abroa

Samsung Electronics’ Boeing business jet, the B737-700Samsung Group, which sold four business units to Hanwha Group in November, is considering buying back the jet planes and helicopters that are used by its owner family.Samsung said Friday that it hopes to acquire three planes and six helicopters, with a 5 percent stake owned by Samsung Techwin ― an aerospace parts producer that was sold to Hanwha as part of the 1.9 trillion won ($1.7 billion) package deal.Samsung Techwin has operated a team th

Strong sales of Apple’s iPhone 6 and Xiaomi’s low-end smartphones pushed Samsung Electronics, the world’s largest smartphone maker by sales volume, to record its weakest annual earnings in three years.The Korean tech giant said Thursday it posted an annual revenue of 206.2 trillion won with its operating profit standing at 25 trillion won, down by 10 percent and 11.8 percent respectively, from a year earlier. The sluggish sales of Samsung’s flagship smartphone, the Galaxy S5 which was released l

A battle has begun for control of NCSoft, the nation’s second-biggest game developer, as Nexon, its largest shareholder, has officially vowed to participate in its management. Nexon, the largest online game firm in South Korea, said Tuesday that it would shift from merely investing in NCSoft, the runner-up in the domestic market, to taking part in its management.“The company made the decision since it has found it difficult to swiftly respond to the rapidly changing IT industry with the previous

Along with Samsung, potent foreign players like Nokia and Huawei vie for remaining stake

LG CNS employees pose at the firm’s mentoring program for new workers. (LG CNS)LG CNS, one of Korea’s information technology solutions developers, said Wednesday that it has launched this year’s mentoring program between senior and junior employees. First started in 2006, the corporate mentoring programs have helped fresh employees adjust to their new workplace and build bonds with colleagues. “In order to become an IT expert, one should quickly adapt to the fast changing work environment,” said

Internet giant Naver, which is struggling to catch up in mobile businesses on its home turf, said Wednesday that it would push to secure its footing in the realm.“As many already know, and some statistics show, the Web portal Naver is not the leader in mobile services,” said Han Seong-sook, the general director of Naver’s service departments, at a press meeting in Seoul on Tuesday, admitting the company is currently facing immense difficulties due to the fast-changing business environment.  Han