The Korea Herald

Goldman Sachs invests in firm behind Korean food delivery service app

Nov 27, 2014

Woowa Brothers, the operator of South Korea’s largest mobile food ordering and delivery service app, Baedal Minjok, said Thursday it has raised 40 billion won ($36 million) from U.S. investment bank Goldman Sachs in a new funding round.The investment bank said it will have additional funding plans for the Korean startups, which are based on an innovative idea, to help it beef up marketing efforts and increase its footing in the global markets. “With the new round of investment, Woowa Brothers wi
LG Electronics replaces mobile head to tighten grip

Nov 27, 2014

LG Electronics Inc., South Korea's home appliance and smartphone maker, on Thursday replaced the head of its mobile division with the marketing chief of its parent company in a reshuffle aimed at further pushing the handset business that has recently gained steam after a slowdown. Cho Juno, director and chief operating officer at LG Corp., the de facto holding company of LG Electronics, will take the helm of the mobile communications department, succeeding Park Jong-seok, the company said.Par
LG Electronics replaces mobile head to tighten grip

Nov 27, 2014

LG Electronics Inc., South Korea's home appliance and smartphone maker, on Thursday replaced the head of its mobile division with the marketing chief of its parent company in a reshuffle aimed at further pushing the handset business that has recently gained steam after a slowdown. Cho Juno, director and chief operating officer at LG Corp., the de facto holding company of LG Electronics, will take the helm of the mobile communications department, succeeding Park Jong-seok, the company said.
Watchdog seeks criminal charges against mobile carriers for handset subsidy violations

Nov 27, 2014

South Korea's communications watchdog said Thursday it will seek criminal charges against local mobile carriers for violating the new handset subsidy payment law that caused problems for buyers of Apple Inc.'s new iPhone 6. The Korea Communications Commission (KCC) said after a meeting that it is also considering referring the executives of the three mobile carriers to the prosecution to hold them responsible for the illegal subsidies. The move comes weeks after the KCC warned in early Nove
S. Korean food delivery app draws 40 bln won from Goldman Sachs

Nov 27, 2014

A South Korean food delivery app on Thursday said it has attracted a 40 billion won (US$36.31 million) investment from U.S. financial firm Goldman Sachs as it pushes to expand business overseas. "With the investment, we can now strengthen our standing in the industry and put our overseas expansion into full swing," said Kim Bong-jin, the founder of the app "Baedal ui Minjok," which roughly translates to "The people of delivery" in English. Goldman Sachs officials said the food-ordering progr
Samsung deal boosts Hanwha’s core businesses

Nov 26, 2014

Hanwha Group’s acquisition of Samsung Group’s petrochemical and defense units will further boost Hanwha’s core businesses as it will be able to generate synergy with the purchased assets, industry sources and analysts said.The 2 trillion won ($1.8 billion) deal, which is said to be a “win-win,” has enabled Samsung to move forward in realigning its units to focus on technology, finance, infrastructure and content businesses under the future leadership of Lee Jay-yong and his two sisters.Analysts
Samsung Electronics restructuring in the offing

Nov 26, 2014

Yoon Boo-keun, Roh Tae-moon mooted as next-generation leaders
Samsung releases new smart camera

Nov 26, 2014

Samsung Electronics Co., South Korea's tech bellwether, rolled out a new Android-based mirrorless camera Wednesday, the latest to join the premium shooter lineup. The NX1 has a 28 megapixel resolution, the highest in a commercial camera with a Back Side Illuminated (BSI) sensor, allowing a clearer and more natural photo shooting in the dark. The camera features built-in Wi-Fi that enables users to share images with one another via social networking services (SNS). It provides an interchang
LG Electronics keeps 3rd place in global smartphone market

Nov 26, 2014

LG Electronics Inc., South Korea's No. 2 smartphone maker, has retained its third place in market share for a fourth consecutive quarter ending in September, data showed Wednesday, largely due to robust sales of its marque G3. Its global market share by revenue stood at 5.4 percent in the third quarter, up from 4.8 percent three months earlier, recent data by Strategic Analytics showed. LG has climbed from 4.1 percent in the last quarter of 2013 and 4.2 percent in the first quarter of this ye
S. Korea ranked No. 2 in ICT development

Nov 25, 2014

South Korea ranked No. 2 in development of its information and communications technologies (ICT), a U.N. agency said Tuesday, giving up its first place to Denmark.The International Telecommunications Union (ITU) said Asia's fourth-largest economy ranked second among 166 countries surveyed.It marked the first time for South Korea to miss the top spot since 2010. Sweden came in at third, followed by Iceland, Britain, Norway, the Netherlands and Finland. Hong Kong and Luxembourg also made the top
Samsung showcases eye-tracking mouse for disabled

Nov 25, 2014

South Korea's tech giant Samsung Electronics Co. on Tuesday showcased a mouse for disabled people that tracks the movements of the eyes. Dubbed EYECAN+, the device allows users to type and perform other functions just by using their eyes. It is an upgraded version of Samsung's previous eye-tracking mouse that had to be worn like glasses. "EYECAN+ requires the user to be situated between 60cm and 70cm from the monitor, and does not require the user to be in any specific position, as it can be
UPS, Korea Post offer premium service for college applicants

Nov 24, 2014

UPS Korea said Monday that together with Korea Post, the country’s state-run postal service, it will offer a premium international mail service for those applying to overseas universities until Feb. 27 next year.UPS and Korea Post, which have provided a premium express mail service for college applicants for the past two years, said they will use the global logistics network of UPS to ensure rapid deliveries of Koreans’ admission applications to some 220 countries, including the U.S. and the U.K
No. of S. Korean patents increases, but quality declines: report

Nov 23, 2014

The number of South Korean patents has risen sharply in the past four years, but the overall quality of the patents has declined, a government report showed Sunday.According to the Ministry of Science, ICT and Future Planning and the Korea Institute of S&T Evaluation and Planning (KISTEP), the number of patents registered in the country reached 14,151 in 2013, up 207 percent from 4,599 in 2009.The number of overseas patents secured by locals stood at 1,270 last year, up from 675 tallied four yea
Samsung Electronics loses market share in mobile phones, TVs

Nov 23, 2014

Samsung Electronics Co.'s global presence in mobile phones and high-end TVs declined in the third quarter while its market share in DRAMs and displays rose, industry data showed Sunday.Analysis of quarterly reports released by the tech company showed Samsung's market share in the IT mobile sector dipping 1 percentage point to 23.9 percent in the July-September period compared to the first half of this year.The numbers based on findings by Strategy Analytics, a global research and consulting firm
[Herald Interview] Blueside aims to take games mobile

Nov 21, 2014

Long-awaited ‘Kingdom Under Fire 2’ to be launched next summer