[THE INVESTOR] Samsung Electronics is seeking to lure more users to its mobile payment service Samsung Pay with a new loyalty rewards program, tentatively called Samsung Pay Rewards, industry sources said on July 19. The Korean tech giant has been pouring resources into expanding Samsung Pay’s presence globally, which it believes is crucial for its device sales. Since its launch in August 2015, the number of subscribers has reached 2.5 million globally, with the total transaction volume surpassi

[THE INVESTOR] Mobile messenger operator Kakao and K Cube Venture, an early-stage venture capital, will jointly invest 30 billion won ($26.4 million) in Shiftup, a game company.Shiftup was established by art director Kim Hyeong-tae, who participated as an art director in the development of mobile game “Blade & Soul.” The game start-up has recently received the limelight with a hit trailer for mobile game “Destiny Child” which it is currently developing with game firm Nextfloor. Well-known illust

[THE INVESTOR] Mobile messenger operator Kakao said July 19 that it has acquired 20 percent of start-up CNT Tech, which develops systems that receive orders from customers and transfer them to POS systems at the nearby stores.The start-up has also developed its own POS system which is compatible with any network environment and can be utilized for any business in an easy manner, the mobile messenger firm said.The 10-year old start-up which has built up its expertise in e-commerce and POS sector

[THE INVESTOR] The Seoul Family Court will review a high-profile divorce case involving 1.2 trillion won of alimony (US$1.05 billion) between Samsung Group chairman Lee Kun-hee’s eldest daughter Lee Boo-jin and her husband Im Woo-jae, according to news reports. The family court made the decision based on the residential address that the bickering couple shared together for the last time. Im Woo-Jae (left), an advisor at Samsung Electro-Mechanics, and Hotel Shilla CEO Lee Boo-jin.Im, serving as a

[THE INVESTOR] Jeon Je-wan, a Korean first generation start-up entrepreneur, has acquired Cyworld, a social networking service considered a trailblazer in the SNS sector in Korea.Cyworld said on July 19 that Jeon, the head of streaming service Air, has recently taken over the firm after acquiring 100 percent stake in the company previously held by 29 shareholders. The exact cost of the takeover deal was not revealed, but it is estimated to be less than 1 billion won ($881,000).Jeon founded Web p

[THE INVESTOR] LG Display has added a new customer for its organic light-emitting diode display -- German-based TV manufacturer Metz TV.Metz -- owned by Chinese TV maker Skyworth -- will reportedly become LG’s 10th client for OLED panels. The German firm recently said that it would roll out an ultra-high definition OLED TV in September 2016, supporting high-dynamic-range -- a video solution for improving brightness and contrast levels. LG Display’s OLED display. LG DisplayThe Korean display firm

[THE INVESTOR] South Korea’s antitrust watchdog said Monday that it has decided to officially oppose the planned merger between SK Broadband, an IPTV unit of SK Telecom, andCJ HelloVision, the nation’s No. 1 cable TV operator, citing monopoly concerns in the media and telecom markets.After a meeting early in the day, the Fair Trade Commission announced its final decision, wrapping up a review session that lasted more than seven months.“The FTC has decided to object to the proposed M&A since the

 [THE INVESTOR] South Korea’s antitrust watchdog said on July 18 that it has decided to officially oppose the planned merger between SK Broadband, an IPTV unit of SK Telecom, and CJ HelloVision, the nation’s No. cable TV operator, citing monopoly concerns in the media and telecom markets.After holding a meeting early in the day, the Fair Trade Commission announced its final decision, wrapping up a reviewing session that lasted more than seven months.CJ Hellovision headquarter“The FTC has decided

[THE INVESTOR] In the pre-cloud era, access to a company’s data may was quite a laborious task. A chief executive might have had to send emails back and forth just to acquire necessary data such as those related to sales. Now emerging cloud services allow easy access to analytic data, even on the go.Oracle chief executive Mark Hurd speaks during an interview in Seoul last week.(Oracle)By simply using a mobile app, a company chief is able to get information that span a broad range of queries such

Memebox is a relatively new face in the South Korean beauty industry which is largely dominated by cosmetics giants such as Amorepacific, Estee Lauder and MAC. Entering a market occupied by such established corporations poses challenges for any newcomer. But Memebox saw an opportunity in what seemed an already crowded market. It jumped into the sector as a cosmetics subscription and delivery service in 2012.  Meme Box CEO Ha Hyung-seok (Yoon Byung-chan/The Korea Herald) “Other cosmetic companies

[THE INVESTOR] On the day when mobile messenger LINE Corp. went public on the Tokyo Stock Exchange on July 15, Lee Hae-jin, the board chairman of Internet giant Naver, called for the so-called ‘Google Tax’ to ensure fair competition in the Korean market.“Global companies including Facebook, Google, and Apple neither unveil how much they make with their services and products nor pay taxes,” said Naver board chairman Lee, who made his first public appearance in nearly three years at a media event

[THE INVESTOR] China is the only Northeast Asian nation where LINE Corp. has yet to launch its mobile messenger service so far. Line is the mobile messenger service operator owned by Naver (chairman Lee Hae-jin)In a recent media interview, LINE’s chief global officer Shin Jung-ho said the firm could consider “setting up a joint venture with a Chinese company” to increase its foothold in a country where its services are blocked due to government regulations. The banners of LINE Corp. hang on the