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Friday, December 15, 2017

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When it comes to broadband, Singapore came in first with a download speed of 153.85 Mbps with broadband, followed by Iceland (147.51 Mbps), Hong Kong (133.94 Mbps) and South Korea (127.45 Mbps).

Amid World’s 30% Increased Speed

15 December 2017 - 12:00pm
Cho Jin-young

Ookia announced the result of its Internet speed test for November this year on December 13. According to the company, the global average download speed was 40.11 Mbps and 20.28 Mbps for broadband and mobile, respectively. The rates increased 31.6% and 30.1% from a year ago, respectively.

When it comes to broadband, Singapore came in first with a download speed of 153.85 Mbps. It was followed by Iceland (147.51 Mbps), Hong Kong (133.94 Mbps) and South Korea (127.45 Mbps). The United States ranked 12th with 75.94 Mbps, Japan 14th with 73.51 Mbps, and China 23rd with 61.24 Mbps.

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The average price of imported wines in South Korea is 80% higher than the average price of the same products outside the country.

Much Higher-priced Wines

15 December 2017 - 11:45am
Choi Mun-hee

The National Council of Consumer Education (NCCE) looked into the prices of 1,262 imported wines and whiskeys and announced on December 14 that the average price of imported wines in South Korea is 80% higher than the average price of the same products outside the country and the percentage is 25.5% when it comes to whiskeys.

The NCCE checked the prices from June 26 to September 30 this year at 19 department stores, 22 large discount stores and 52 sellers, which are divided into 40 in South Korea and 53 in the other countries including the United States, France, Britain and Chile....

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South Korea’s telecommunications policy is unlikely to change although the Federal Communications Commission (FCC) of the U.S. repealed net neutrality rules.

Net Neutrality Policy Unchanged

15 December 2017 - 11:30am
Cho Jin-young

The Ministry of Science and ICT said on December 14 that South Korea’s telecommunications policy is unlikely to change although the Federal Communications Commission (FCC) of the U.S. repealed net neutrality rules.

According to the ministry, Internet service providers in the United States are not common carriers but information providers and, as such, the legal ground of net neutrality rules was vague. Under the circumstances, the Barack Obama administration tried to strengthen the ground of the rules in February 2015, but President Donald Trump initiated a process to repeal the...

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The monthly export volume of ICT products increased 25.9% in November from a year earlier.

Continuing Double-digit Growth

15 December 2017 - 11:15am
Cho Jin-young

It has been found that the total exports from South Korea’s information and communications technology (ICT) sector reached US$18.62 billion last month and the sector’s imports totaled US$9.48 billion during the same period.
 
The monthly export volume, which increased 25.9% from a year earlier, is the second-largest in history, behind US$19.26 billion in September this year. The monthly export volume showed a double-digit year-on-year growth for the 12th consecutive month.
 
Last month, mobile phone exports fell 21.3% to US$1.93 billion as South Korean manufacturers...

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The South Korean government is going to minimize an increase in the price of electricity while replacing nuclear and coal-fired power plants with LNG and renewable energy sources in stages.

Too Optimistic about Supply and Price

15 December 2017 - 11:00am
Jung Min-hee

The Ministry of Trade, Industry & Energy of Korea announced that it reported its eighth national electric power supply plan for 2017 to 2031 to the National Assembly on December 14.

According to the plan, the South Korean government is going to minimize an increase in the price of electricity while replacing nuclear and coal-fired power plants with LNG and renewable energy sources in stages. Specifically, the price is planned to be raised by 1.3% until 2022 and 10.9% until 2030. The target values do not reflect inflation rates and fuel costs though.

The government is...

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SK chairman Chey Tae-won played a role as a bridge to establish the South Korea-China private economic cooperation consultative body by making use of his old Chinese networks.

S. Korea-China Business Council Launched

15 December 2017 - 10:30am
Jung Suk-yee

A South Korea-China private economic cooperation consultative body, which consists of leading businessmen in South Korea and China, will be established next year. For South Korea, the body will be participated in by heads of major groups, including SK Chairman Chey Tae-won who played a role as a bridge to form the consultative group.

The Korea Chamber of Commerce and Industry (KCCI) signed a memorandum of understanding (MOU) with the China Center for International Economic Exchanges (CCIEE) to set up the council of South Korea-China senior-level businessmen at the main office of the...

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Hackers used ransom ware to demand for payment in the past but they are now infecting computers of many users and using them to mine virtual currencies.

Due to High Bitcoin Prices

15 December 2017 - 9:45am
Yoon Yung Sil

With the price of digital currencies having continuously been on the increase, hackers that are on the make are changing their attack methods. They used ransom ware, which encrypts people's important data through hacking and demand for payment, in the past. However, they are now infecting computers of many users and using them to mine virtual currencies.

According to security industry sources on December 14, hackers are recently making an attack to use people’s computers to mine digital currencies.

As the price of bitcoin has surged to 20 million won (US$18,365), an...

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NXC, the holding company of Nexon, Mgame and PATI Games are preparing for digital currency business.

Synergy with Gaming Business?

15 December 2017 - 9:30am
Yoon Yung Sil

Local game developers are entering the cryptocurrency market one after another. NXC, the holding company of Nexon, Mgame and PATI Games are preparing for digital currency business. The industry believes that such move is a strategic investment to create synergy with gaming business.

According to industry sources on December 14, PATI Games is planning to push into the virtual currency market based on subscribers of online game item trade sites – Item Mania and Item Bay. The company acquired a 37.32 percent stake in B&M Holdings, a holding company of Item Mania and Item Bay, in...

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The 2018 'Samsung Notebook Pen.'

Ultra-light, Functional Notebook

15 December 2017 - 9:15am
Cho Jin-young

Samsung Electronics will launch the 2018 model of Samsung Notebook Pen with 'S Pen' on December 22. This product is the successor to the Samsung Notebook Pen that Samsung Electronics introduced last July. The new product features the same S Pen used with the Galaxy Note Series of smartphones, and a 360-degree rotating touch display.

The 2018 Samsung Notebook Pen was upgraded to an ultra light design that does not exceed 1kg by applying the same magnesium material as the Samsung Notebook 9 Always (2017) which became a hit model.

With S Pen with a fine 0.7mm tip that supports 4...

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SA expected Samsung's smartphone shipments to hit 315.3 million units next year with a decreased market share of 19.2 percent from 20.5% this year.

Sandwiched between Apple and Chinese Makers

15 December 2017 - 8:45am
Cho Jin-young

According to Strategy Analytics (SA), a market researcher on December 14, Samsung Electronics's global smartphone shipments are expected to run to 319.8 million units, accounting for 20.5% of the world total shipments of this year.

SA expected Samsung's smartphone shipments to hit 315.3 million units next year with a decreased market share of 19.2 percent. SA also said that Samsung’s shipments and market share would fall as the company would be sandwiched between Apple in the premium smartphone sector and Chinese companies in the budget smartphone sector.

Except for Samsung...

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