The Korea Herald

Samsung to supply AMOLED display to Russia's Yota

Nov 13, 2014

Samsung Display Co. will supply its active mode organic light-emitting diode (AMOLED) display panels to Russia-based smartphone maker Yota Devices, industry sources said Thursday, in a bid to find new sources of business to fill in the sales fall to its key buyer Samsung Electronics.According to the sources, the YotaPhone 2, set to be released next month in Russia, will be equipped with the Samsung AMOLED display panel. The YotaPhone lineup has the industry's first dual-screen design, equipped w
Innovation forum talks sustainable growth

Nov 12, 2014

DAEJEON ― The Daejeon Global Innovation Forum, a global conference for innovation, kicked off Wednesday in Daejeon. The two-day global conference is expected to serve as a venue for 1,000 scholars, government officials and company executives to discuss innovation in the technology and science fields, and sustainable economic growth. “The forum will present practical solutions for a range of issues in pursuing innovation from how to establish better government policies through collaboration and c
[Herald Interview] ‘Samsung to be biggest beneficiary of Bitcoin market’

Nov 12, 2014

DAEJEON ― A leading Bitcoin organization founder said Samsung Electronics, a chipmaking powerhouse, will likely benefit the most as the global market for the digital currency Bitcoin grows further down the road. “At least half a billion U.S. dollars, up from $10 million two years ago, will be spent on purchasing Bitcoin mining systems (built using highly efficient chips) worldwide next year or in 18 months,” said Peter Vessenes, chairman of the Bitcoin Foundation, a U.S. organization committed t
Adobe cloud services aim to help small firms market digital content

Nov 12, 2014

Adobe Systems Asia president Paul Robson introduces the company’s cloud platforms in Seoul on Wednesday. (Adobe Systems)Adobe Systems seeks to help South Korean entrepreneurs and small and medium enterprises make a complete transition from analog to digital in the way they produce and market content through its integrated platforms.The multimedia software company, which is renowned for its creative applications such as Photoshop and Flash, has two platforms ― Adobe Creative Cloud and Adobe Marke
Yahoo to buy video-ad service BrightRoll for $640 million

Nov 12, 2014

Yahoo agreed to acquire video-advertising service BrightRoll for about $640 million in cash, adding marketing tools to drive chief executive officer Marissa Mayer’s turnaround effort. BrightRoll, one of Yahoo’s biggest deals under Mayer, is profitable and should exceed $100 million in revenue this year, the Web portal said in a statement Wednesday. Yahoo expects the purchase, which is subject to customary closing conditions, to boost earnings before certain items. The acquisition would help bols
LG Uplus eyes mobile banking

Nov 12, 2014

LG Uplus, South Korea’s smallest mobile carrier, plans to add a wire transfer service to its mobile payment tool as it tries to tighten its grip on the market against new rival Daum Kakao.The mobile carrier is pushing to complement Paynow, its mobile payment app currently limited to paying bills at a member store by tapping a cellphone onto the reader. The upgraded version of Paynow will allow an individual to send money to another person, with the tool to be further developed into having a full
LG Uplus preparing mobile banking service

Nov 12, 2014

LG Uplus Inc., South Korea's smallest mobile carrier, plans to add a wire transfer service to its mobile payment tool as it tries to tighten its grip on the market against new rival Daum Kakao Corp.The mobile carrier is pushing to complement Paynow, its mobile payment app currently limited to paying bills at a member store by tapping a cellphone onto the reader. The upgraded version of Paynow will allow an individual to send money to another person, with the tool to be further developed into hav
Samsung Electronics to build 2nd smartphone plant in Vietnam

Nov 11, 2014

Samsung Electronics has been approved by the Vietnamese government to invest $3 billion to build a smartphone manufacturing center in the Southeast Asian country, according to the tech giant and local news outlets.The new factory will be built in Thai Nguyen province, north of Vietnam’s capital Hanoi, where the South Korean tech conglomerate has been operating its first smartphone plant in the country since last March.Samsung Electronics invested $2 billion to build the first smartphone factory,
Lee may have to wait for promotion

Nov 10, 2014

Samsung Group, South Korea’s largest conglomerate, will reportedly downsize the number of its executives and at its key affiliates, including Samsung Electronics, to make the companies leaner and more responsive to changes in the business climate.Lee Jay-yong, the vice chairman of the tech giant, is unlikely to be promoted as the chairman next month when the group announces its annual executive reshuffles, several news reports said.Lee Jay-yong. (Korea Herald file photo)Samsung Group said it had
Game designer 4:33 teams with Tencent, Line

Nov 10, 2014

4:33 Creative Lab, a top South Korean mobile game designer, has joined hands with two of the world’s largest mobile messenger firms, Tencent and Line Corp., in its effort to foray into the international market. Announcing that it had successfully attracted funds from the mobile messenger operators, the Seoul-based mobile game company said Monday that it would become a global powerhouse in the game designing market. “With the latest investment, 4:33 has secured reliable partners, Tencent and Line
Daum Kakao posts loss on merger costs

Nov 7, 2014

Daum Kakao said Friday that it posted a net loss of 6.3 billion won ($6 million) in the third quarter of this year due to one-time expenses incurred from the merger between Kakao and Daum Communications.Asset revaluation of its subsidiaries and commission payments to M&A brokers following the merger had cost the company 51.7 billion won after taxes. The costs also included account receivables from sales of Lycos, an overseas search engine that Daum acquired in 2004, the company said.The merger e
Korea to help developing countries in spectrum management

Nov 7, 2014

South Korea and the International Telecommunications Union agreed on Friday to jointly support developing countries in setting up national spectrum management plans through two projects.South Korea will provide assistance to countries in the Caribbean in what will be the nation’s first ITU project in the Latin American region, the organization said.It also signed an agreement to extend its support for the Asia-Pacific region to design and implement new spectrum management.South Korea’s Ministry
HP CEO Whitman to visit S. Korea next week

Nov 7, 2014

Hewlett-Packard CEO Meg Whitman plans to visit Seoul next week for talks with heads of the firm's South Korean partners, an industry official said Friday.Whitman could also meet with Lee Jae-yong, vice chairman of South Korean tech giant Samsung Electronics Co., during her stay in South Korea.Still, HP and Samsung said they had no knowledge of the schedules of Whitman and Lee. (Yonhap)
ITU ends three-week conference in Busan

Nov 7, 2014

Members of the International Telecommunications Union (ITU) ended their quadrennial meeting Friday after adopting a series of resolutions throughout their sessions that will guide ICT-related policies around the globe for the next four years. The closing ceremony was held after 150 attending signed the "final acts" of this year's plenipotentiary conference, which included new resolutions and decisions approved by the members. Some 3,000 delegates had gathered in this South Korean port city for
Samsung, LG to face Chinese challenge in TV market: analysts

Nov 7, 2014

South Korean display and TV producers, including Samsung Electronics and LG Electronics, which maintain a firm grip on the global market, will face daunting challenges from Chinese rivals in the coming years, according to market analysts. “Chinese panel manufacturers are making aggressive investments including building new factories. A competitive edge built in the Chinese panel industry will also boost the Chinese TV businesses,” said Jusy Hong, principal analyst of market research institute IH