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Monday, May 01, 2017

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Anyractive’s interactive electronic blackboard 'GoTouch.'

Launching Crowdfunding in US

28 April 2017 - 6:30pm
Michael Herh

Anyractive (https://www.anyractive.com/) announced that the company will launch crowdfunding at Kickstarter in the US with interactive electronic blackboard 'GoTouch'.

Its interactive electronic blackboard is a solution that can turn TVs, beam projectors, monitors among others into electronic blackboards and enable people to visually communicate with one another all over the world by connecting it to the internet.

GoTouch which consists of an electronic pen, a sensor and an app, recognizes the position of the nib of an electronic pen...

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KEPCO and Samsung Electronics will jointly develop peak management pilot projects using smart home appliances and the Internet of Things (IoT) in the energy sector.

New Market Creation

28 April 2017 - 6:15pm
Jung Min-hee

Korea Electric Power Corporation (KEPCO) announced that it has signed a memorandum of understanding (MOU) with Samsung Electronics at the Samsung Electronics headquarters in Seocho-gu, Seoul, on April 27 to jointly develop peak management pilot projects using smart home appliances and business models using the Internet of Things (IoT) in the energy sector and create new markets.

The two companies will develop refrigerators and air conditioners equipped with a power peak management feature using the KS standards for smart home appliances, which have been jointly developed with the...

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Daewoo Shipbuilding & Marine Engineering (DSME) turned a profit for the first time in 17 quarters in the first quarter of this year.

Turning to Profit

28 April 2017 - 6:00pm
Jung Min-hee

Daewoo Shipbuilding & Marine Engineering announced on April 27 that it turned a profit for the first time in 17 quarters in the first quarter of this year, when its sales, operating profits and current net income totaled 2.7840 trillion won, 291.8 billion won and 261.3 billion won, respectively. The sales fell approximately 20.1% from a year earlier.

The shipbuilder explained that the profit turnaround can be attributed to change orders it secured with respect to maritime projects with uncertainties related to offshore plants already reflected last year. It also mentioned that...

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The Marine Finance Center has lowered the minimum cost of offshore plant construction projects subject to mandatory feasibility studies from US$500 million to US$300 million.

Marine Financing Assistance

28 April 2017 - 6:00pm
Jung Min-hee

The Marine Finance Center of South Korea announced on April 27 that it has lowered the minimum cost of offshore plant construction projects subject to mandatory feasibility studies from US$500 million to US$300 million.

Established by the Export-Import Bank of Korea, Korea Development Bank and Korea Trade Insurance Corporation, the Marine Finance Center is an organization providing marine financing assistance and responsible for refund and contract fulfillment guarantee in the event of non-fulfillment of offshore plant construction and shipbuilding contracts by South Korean...

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Students of the Norwegian University of Science and Technology are listening to an explanation by David Sehyeon Baek, head of the Global Cooperation Team.

Korean Start-up Benchmarking

28 April 2017 - 5:15pm
Staff Reporter

50 students of Norwegian University of Science and Technology (NTNU) visited GCCEI and Pangyo Techno Valley to see Pangyo IT Cluster and to learn about how Korea supports high tech startups.

Since Norway has relied on their rich natural resources, nowadays they have been trying to foster their IT industry more and trying to strengthen technological capacities. One of the reasons why they chose to come to visit Korea is that they believe Korea has been doing a great job so far in terms of tech-related industry. For the past couple of years, it is well said that Korea has been really...

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Hanwha Techwin will be divided into four companies – its surviving entity and its three subsidiaries tentatively called Hanwha Dynamics, Hanwha Power System and Hanwha Precision Machine.

For Enhancing Competitiveness

28 April 2017 - 5:00pm
Jung Min-hee

Hanwha Techwin will spin off its defense, energy equipment and industrial equipment business units into three subsidiaries.

Once the spin-off is completed, Hanwha Techwin will be divided into four companies – its surviving entity and its three subsidiaries tentatively called Hanwha Dynamics, Hanwha Power System and Hanwha Precision Machine. After the spin-off, Hanwha Techwin will operate only aeroengine, robot and security business units.

On April 27, Hanwha Techwin held its board meeting and decided to physically spin off its defense, energy equipment and industrial...

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GM Korea Labor Union is demanding a 500-percent performance-based bonus in their wage negotiation of this year.

Despite 530 Billion Won in Loss

28 April 2017 - 5:00pm
Jung Min-hee

Controversy has been aroused by the GM Korea Labor Union’s demand for a 500-percent performance-based bonus in their wage negotiation of this year. It is pointed out that the trade union's demand went too far as the automaker suffered hundreds of billions of won in losses for three straight years due to drops in export volumes.

According to the automobile industry on April 27, the labor union of Korea GM demanded a 500-percent performance-based bonus in addition to an increase of 154,483 won in basic wage in its wage demand this year. Compared to 2016 (an increase of 160,000 in...

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The stock prices of Samsung Electronics hit another record high despite its decision of not becoming a holding company.

Due to Triple Favorable Factors

28 April 2017 - 4:45pm
Jung Suk-yee

Although Samsung Electronics has decided not to become a holding company, its stock prices hit another record high with triple factors – higher earnings, plan to cancel the company's treasury shares and higher quarterly dividends. As its shares rose to 2.2 million won (US$1,940) in morning trade on the Seoul stock market for the first time, the company’s market capitalization surpassed 300 trillion won (US$264.55 billion). Samsung Electronics is expected to continuously see its performance improve in the second quarter and its bullish run is likely to continue due to the company’s triple...

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Samsung Electronics will not adopt a holding company structure.

Samsung Governance Structure

28 April 2017 - 4:30pm
Jung Suk-yee

Samsung Electronics announced on April 27 that it would not adopt a holding company structure. “After deliberating on the matter for about five months, we have reached a conclusion that the structure is rarely beneficial to our business competitiveness and can pose a burden on our business by dispersing our capabilities,” it explained.

Samsung Electronics mentioned the Act on the Structural Improvement of the Financial Industry and a commercial law revision bill tabled by The Minjoo Party lawmaker Park Yong-jin as its reason for the decision. Samsung Life Insurance, which is the...

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Korean IoT-based smart home model will be created.

IoT-based Home Appliance

27 April 2017 - 7:00pm
Cho Jin-young

Home appliance producers, mobile carriers, semiconductor, sensor and software developers and service providers have joined hands to create the Internet of Things (IoT) home appliance and smart home markets.

The Ministry of Trade, Industry and Energy (MOTIE) announced that it held an inauguration ceremony for a convergence alliance for the IoT and smart home at the Korea Electronics Technology Institute (KETI) on April 26. The convergence alliance is divided into four sectors – technical cooperation which helps jointly develop...

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