The holidays are a time for cheer and spending quality time with family, but it is also an important time of year in South Korea for solidifying business relationships -- with boxes filled with seaweed, Spam or shampoo.On the largest traditional holiday of the year, the Lunar New Year, or “Seollal” in Korean, retailers and logistics companies are flooded with bulk orders for gift sets to be sent to business acquaintances.An employee at Hanaro Mart in Yangjae-dong, Seoul, adjusts a displayed gift

Industry Feb. 14, 2018

Revenues from Internet of Things-related services surged 23.4 percent in 2017 in South Korea as companies continued to roll out connected services and devices, data showed Monday.According to data from the Ministry of Science and ICT, the Korea IoT Association and the National IT Industry Promotion Agency, revenues from IoT reached 7.15 trillion won ($6.6 billion) last year, up from 5.8 trillion won in 2016. (The Korea Herald)IoT is a core technology of the so-called “fourth industrial revolutio

Technology Feb. 12, 2018

Samsung Electronics is heralding an era of 8K video with the introduction of its premium TVs in 2018. At the Consumer Electronics Show in Las Vegas last month, the company revealed the 8K-resolution Q9S, which is equipped with artificial intelligence that can learn to upgrade videos of lower resolution to 8K quality.Once the TVs are released to the wider market, they will be able to provide an 8K experience even with content that was not developed at that high resolution. The 8K resolution is cu

Technology Feb. 11, 2018

Samsung Electronics is hoping to woo Middle Eastern commercial buyers by presenting its latest air conditioning solutions at a trade show in Istanbul, the company said Friday.At the biannual Isitma Sogutma Klima-Sogutma Dogalgaz Expo air solutions trade show in Istanbul, Turkey, held from Wednesday to Saturday (local time), Samsung presented its full lineup of wind-free air conditioners.  Buyers browse products from Samsung Electronics at the ISK-SODEX held in Istanbul, Turkey, from Wednesday to

Technology Feb. 9, 2018

Global heavyweight LG Electronics bases much of its market prowess in its organic light-emitting diode technologies that have led to successes in both industrial and commercial businesses.Most recently at the Integrated Systems Europe show held in Amsterdam this week, the company revealed a series of signage and transparent displays for enterprise use.The main highlights of the exhibition included a transparent 55-inch OLED display, open frame OLED displays and the Even Bezel Video Wall.“We are

Technology Feb. 9, 2018

SK Telecom has ambitious plans for its voice-activated assistant Nugu, which it hopes will become the epitome of a customized life powered by artificial intelligence, with services ranging from basic information about traffic and weather conditions to shopping and delivery.First rolled out in September 2016, the voice-activated speaker is rapidly expanding its service capabilities in conjunction with SK Telecom’s existing strengths in its car navigation system Tmap and e-commerce platform 11st a

Technology Feb. 7, 2018

The founder of mobile game company Netmarble said Tuesday that Korean game companies need to take the initiative and begin developing new games early in order to stay competitive against Chinese game makers.On the same day, the games giant revealed its sales for 2017 reached a record high of 2.42 trillion won ($2.2 billion) mainly driven by the global popularity of its latest game product, “Lineage 2 Revolution.” Sales jumped 61.6 percent on-year, the company said in a regulatory filing, while o

Technology Feb. 6, 2018

Network provider KT has joined hands with Hyundai Engineering & Construction to bring artificial intelligence-powered services to new apartments starting in the first half of 2018, according to KT Tuesday.The two companies signed an agreement Tuesday to cooperate in bringing KT’s artificial intelligence services to Hyundai E&C’s apartments.Lee Pil-jae, Head of Marketing for KT (right), and Kim Jung-chul, Senior Vice President of Hyundai E&C at the Hyundai E&C headquarters in Jongno-gu, Seoul Tue

Industry Feb. 6, 2018

KT Chief Executive Hwang Chang-gyu speaks in Seoul to Verizon CEO Lowell McAdam at the US Bank Stadium in Minneapolis, Minnesota, host of this year’s Super Bowl, on Monday through a 5G video call. The two companies connected their wireless fifth-generation networks using equipment built by Samsung Electronics. KT executives tested out Verizon’s 5G virtual stadium, while Verizon executives tried out KT’s omni-view app over the connection, according to KT. (KT)

Technology Feb. 5, 2018

HWASEONG, Gyeonggi Province -- SK Telecom and the Korea Transportation Safety Authority successfully test-drove two autonomous vehicles Monday at K-City in Hwaseong, Gyeonggi Province, using technology that allowed the vehicles to communicate with each other in real time.In addition to the self-driving capabilities of the cars themselves, Monday’s test focused on the ability of the two cars to send and receive real-time information about driving conditions. A screen displays a real-time HD map o

Technology Feb. 5, 2018

Korea has seen a major shift to smartphones for internet activities over the last five years, with a corresponding decrease in the use of desktop PCs, according to government data Friday.A study by the Ministry of Science and ICT showed that between 2012 and 2017, the proportion of households that owned smartphones rose from 65 percent to 94.1 percent, while those that owned computers dropped from 82.3 percent to 74.7 percent, with a 20.1 percentage point drop in desktop PC ownership.Part of the

Technology Feb. 2, 2018

Wireless carriers LG Uplus and SK Telecom are using their latest technologies in artificial intelligence and the internet of things to help those with disabilities.According to LG Uplus on Thursday, the company donated 500 AI assistant speakers to families including visually impaired people.  A SK Telecom employee helps a physically impaired person to operate the Smart Home system on a smartphone (SK Telecom)The speakers use U+ Our Home AI, a service launched by LG Uplus and Naver last year that

Technology Feb. 1, 2018

SK Telecom said Wednesday that it is preparing to launch a new music platform service within the year in collaboration with major K-pop labels.Together with K-pop agencies S.M. Entertainment, JYP Entertainment and Big Hit Entertainment, SKT will be creating a music platform utilizing its strengths in artificial intelligence, 5G networking and blockchain technology, the company said. (From left) Jung Wook, CEO of JYP Entertainment, Bang Si-hyuk, CEO of Big Hit Entertainment, Noh Jong-won, head of

Technology Jan. 31, 2018

Samsung Electronics on Wednesday decided on its first-ever stock split by lowering the face value of its stocks from 5,000 won ($4.70) to 100 won, a move that would increase the number of common stocks and liquidity, with the aim of improving long-term corporate value.The surprise decision, made in sync with the firm’s announcement of record highs in sales and operating profits in the fourth quarter of 2017, was immediately met with a jump in the company’s stock price. Samsung Electronics’ headq

Technology Jan. 31, 2018

Samsung Electronics has decided on a 50:1 stock split, expanding its issued shares from 128.4 million to 6.4 billion shares, according to a filing Wednesday.The stock split will be up for a vote at the regular shareholders‘ meeting scheduled for Mar. 23. (Yonhap)The 50:1 split means that a share worth 5,000 won, for example, would be split into fifty 100-won shares. This increases the number of shares while lowering stock prices to encourage more investors to buy shares in the company. “The Boar

Technology Jan. 31, 2018