Steve Jobs unveiled the first iPhone in January, 2007, before an adoring congregation, in his signature “Sermon on the Mount” style. On June 29, it became available to the public. Ten years later, the phone has spread like Christianity. The device represents “the pinnacle product of all capitalism,” as Brian Merchant argues in his new book, “The One Device: The Secret History of the iPhone.” Merchant calls the adoption of the iPhone a “rapid, civilization-scale transformation.”Happy birthday, iP

The ongoing lawsuit raised in 2016 by a Coffee Bean and Tea Leaf franchise in China against Mirae Asset Financial Group and Chairman Park Hyeon-joo has become more complicated, as the franchise’s CEO has filed another lawsuit against the group’s private equity CEO and an executive on perjury charges.The legal battle dates back to May 2014 when Kwon Joon, CEO of TNPI HK, sued Mirae Asset Chairman Park Hyeon-joo for “unlawfully” using the franchise’s confidential repo

The first hearing was held at a local court Monday for those seeking compensation over mental and physical distress caused by the corruption scandal surrounding former President Park Geun-hye and her confidante Choi Soon-sil. 　In the class action suit, filed in December with 5,001 plaintiffs including their legal representative Kwak Sang-eon, each demands 500,000 won ($440) in compensation. Some 4,160 plaintiffs also separately filed a compensation suit in January, with its hearing schedule not

President Moon Jae-in on Monday said that his priority in the upcoming Korea-US summit is to reconfirm the bilateral alliance in general, not to discuss the disputed Terminal High Altitude Area Defense issue in detail.　The South Korean state chief thereby drew a line to the burgeoning calls, especially from the US political circles, to swiftly fix the timeline for the full deployment of THAAD on the Korean Peninsula.　“President Moon said that in the upcoming summit, he shall not cling to the out

Samsung Electronics on Monday embarked on two-day biannual meetings to set global strategies for the first time in the absence of its heir apparent arrested in a presidential bribery scandal. Since it is also the first time for the electronic titan to hold the strategic meetings after Samsung Group was disbanded in March, attention was focused on how each division of the tech giant came up with strategies in a competition to become a major business division representing South Korea’s largest bra

Concern is being raised that the problem of debt incurred by self-employed businesses in the country is much more severe than has been depicted by official figures.A newspaper report last week said a recent survey by the local financial authorities revealed the country’s self-employed people held a combined debt of 650 trillion won ($573.1 billion) as of the end of last year, exceeding the Bank of Korea’s earlier tally at 480.2 trillion won.According to another report Sunday, data pr

Korea’s six conglomerates are still relying heavily on cross-shareholding to strengthen their owner families’ control over the affiliates, a report by chaebol business tracker showed Monday.The combined assets of the 1,259 affiliates under the top 30 business groups reached 1,642.5 trillion won ($1,447.7 billion) as of Monday, according to the report by Chaebul.com which cited each company’s latest regulatory filing. More than one third of their assets, or 35 percent, were created in cross-share

With every tweet or meeting with a foreign leader that US President Donald Trump completes, American officials find themselves struggling to reassure allies that the United States remains committed to their security. Nowhere is this truer than in Asia, where longstanding US strategic engagement, backed up by the world’s most advanced military, has maintained the balance of power for decades.Trump’s signature Asia policy -- his pledge to stop North Korea’s development of nuclear weapons -- should