Semiconductor-maker SK hynix said Friday it has launched a committee to support and compensate its workers who developed life-threatening diseases, including various cancers and leukemia, while working at the firm’s chip factories.The establishment of the support and compensation group is in line with the firm’s efforts to comply with proposals made last November by an inspection committee for workplace safety and health at the chipmaker, consisting of 11 medical specialists, scholars, industry

 A sense of frustration seems to be pervading the halls of Samsung Electronics as incentives for the year 2015, dubbed the overall performance incentive, are anticipated to plunge due largely to its below-par business performance last year.The OPI reward program pays up to 50 percent of the annual salaries of workers within the range of 20 percent of the firm’s excess profits. The Samsung logo at Samsung Electronics’ head office in Seoul. (Yonhap)Samsung also runs their target achievement incent

SK Planet, owned by South Korea’s largest telecom carrier SK Telecom, said Thursday that it will sell off its 15 percent stake in Loen Entertainment, the operator of MelOn, Korea’s top music-streaming, to the new owner Kakao. The shares were valued at 368 billion won ($302 million). The SK Planet logo. (SK Planet)The company said that the decision was made during a directors’ meeting in the day as part of its business restructuring that has continued since last year to pour more resources into p

Although many people talk about big data these days only a few truly understand its potential and actively make use of the related technologies in their businesses, due largely to expensive costs to build and manage infrastructure.Businesses that have swiftly adopted the emerging technology often pose a formidable challenge to leading market players.Video-streaming platform Netflix is a great exemplar as it has successfully integrated big data systems in its streaming services to meticulously an

This is the first article in a series that explores the driving forces behind hallyu and the global rise of Korean pop culture. -- Ed.　　The global success of Psy’s “Gangnam Style” music video was both boon and bane to the 42-year-old singer, born Park Jae-sang. 　With the strong support of K-pop stronghold YG Entertainment, Psy was able to reach an unprecedented audience for Korean music. The video rapidly went viral, going on to reach over 2.5 billion views on YouTube. With an additional push fr

China's economic growth slowed to a six-year low in the latest quarter as trade and consumer spending weakened, deepening a downturn that has fueled anxiety abroad over its impact on an uncertain global outlook. The world's second-largest economy grew by 6.8 percent in the October-December quarter, down from the previous quarter's 6.9 percent, data showed Tuesday. That dragged full-year growth to a 25-year low of 6.9 percent.    A port in Chungqing, China. (Yonhap)Growth has fallen steadily over

Korea’s leading smartphone camera module-maker LG Innotek said Tuesday that it would focus on electronic components and materials in a bid to seek new growth engines.The company said it plans to rake in 200 billion won ($166 million) in revenue in the business in the next three years.LG Innotek CEO Park Jong-seok. (LG Innotek)Outlining its mid- and long-term plans, the company also said it would jump in the businesses for the metal power inductor, which helps prevent abrupt changes in electric c

Flexibility and mobility are core elements for businesses to counter challenges in fast-changing business environments.Cloud computing services, which enable people to work anywhere and with anyone, will play a pivotal role in beefing up those two elements and ultimately change the business landscape, according to an executive at Oracle.Steve Deheb, senior vice president at Oracle, speaks at a press meeting held during the Oracle CloudWorld, a cloud conference held in Seoul on Tuesday. (Oracle)“

SK Planet, the operator of e-commerce platform 11st, said Monday that it has joined hands with ZMI, an affiliate of Chinese budget smartphone-maker Xiaomi.Some of the Xiaomi affiliate’s flagship products, including portable smartphone batteries, LED lights and electric fans, will be distributed by the Korean partner here. The move came amid heated competition to launch Xiaomi’s products, considered affordable while having comparable specifications, in the Korean market. 　Lee Chi-hun, the head of

  KT TO BUILD SMART FARMS -- Yoon Kyung-lim(left), head of mobile carrier KT’s future convergence business office, and Katsuyuki Kitagawa, CEO of ASO Farm Land -- operator of the world’s largest agriculture-themed park in Japan -- pose at the MOU signing event to collaborate on building smart farms in Korea, deploying information technology. (KT)

A few years ago, office worker Lee Yu-na had a nightmare finding parking space when visiting Bukchon Hanok Village, one of the popular tourist destinations in northern Seoul. Despite her unsavory memory of paying fines for parking her car in a no-parking area, she had to visit the village again last month, on request by her friend from the U.S. But this time she felt more confident. A smart parking lot management solution developed by smart parking app operator ParkingCloud is installed at the J

SmartThings, a U.S. smart home start-up acquired by Samsung Electronics last August, will enter the Korean market in the first quarter of this year, company officials said Friday. The South Korean tech giant snapped up the fast-growing Internet of Things start-up in a $200 million deal under its vision to have all its appliances connected to the Web by 2020.SmartThings’ mobile app for the connected home.Samsung confirmed that it will roll out SmartThings products, including a smart hub and multi

Aiming to counter tumbling demand for chips due mainly to the saturated global smartphone and PC chip markets, SK hynix announced Thursday a plan to invest 6 trillion won ($4.95 billion) this year.The company will match last year’s investment to conduct research and development for new chip technology, acquire a competitive edge in price, and build new production lines, according to the firm. The logo of SK hynix is on a company office window. (Yonhap)Specifically, the company will speed up the