As the South Korean market for easy payment services has grown close to three times in two years, the service providers are now moving to expand their businesses to overseas markets.They are planning to enable travelers to use their easy payment services without exchanging money, especially in Asian
The market capitalization gap between Korean conglomerates and their global competitors has widened.Samsung Electronics’ market capitalization reached US$284.5 billion on Dec, 31, up 37.6 percent (US$ 77.8 billion) from US$206.7 billion at the end of 2018. Apple's market cap, on the other hand,
Large Korean companies increased investment in research and development (R&D) by close to 4 trillion won this year compared to a year ago despite declines in sales. The share of R&D spending in sales rose 0.34 percentage point to exceed 3 percent.Industry tracker CEO Score released a report on Dec.
As Naver and SoftBank have signed the main contract for the integration of LINE and Yahoo! Japan, the birth of Asia's largest Internet company with more than 100 million users is close at hand.Naver announced that Z Holdings, a subsidiary of SoftBank and the parent company of Yahoo! Japan, a Jap
As global cloud service providers including Amazon Web Services (AWS) and Microsoft (MS) are eyeing the Korean financial market, competition between local and foreign providers is expected to intensify in the cloud market.Korean cloud service providers, including KT, Naver Business Platform (NBP) an
A survey has found that Korea lags behind China and Japan in terms of the quality and quantity of artificial intelligence (AI) researchers.The Korea Economic Research Institute (KERI) under the Federation of Korean Industries (FKI) said on Dec. 15 that it has found that Korea’s human resources compe
The Korea Fair Trade Commission announced on Dec. 9 that it recently looked into 56 conglomerates, those include 49 led by owners, the 49 conglomerates have 1,801 subsidiaries, and at least one owner family member is registered as a director in 321 out of the 1,801 subsidiaries. It added that direct
Samsung Galaxy placed first in this year’s Top 100 Brands of Korea released by BrandStock on Dec. 8. It claimed the top spot of the BrandStock Top Index (BSTI) for nine consecutive years.BrandStock said Samsung Galaxy has strong upside potential in terms of brand value as the share of Samsung Electr
Naver Pay users will be able to use the Naver Pay mobile app at stores in Thailand and Taiwan starting the first quarter of next year.Naver Financial said on Dec. 4 that it will launch a cross-border payment service to allow its customers to use the Naver Pay mobile payment service at offline stores
Naver is stepping up its efforts to become a global leader in artificial intelligence (AI) and robotics.Naver announced on Dec. 1 that it held a global workshop, “AI for Robotics,” with 11 top-notch scholars in AI and robotics in Grenoble, France from Nov. 28-29 (local time). The participants discus
Naver's Japanese subsidiary LINE and SoftBank's Z Holdings (the parent company of Yahoo Japan) agreed on Nov. 18 to form a mammoth-sized platform based on their combined 100 million users under the vision of growing into a leader of the global artificial intelligence (AI) industry.Naver and
LINE Corp., a Tokyo-based subsidiary of the South Korean internet search Naver Corp., and Yahoo Japan are expected to combine with each other to give rise to the world’s largest blockchain company. Each of the Japanese subsidiary of Naver and the sub-subsidiary of Softbank is currently running a cry
Naver has climbed to third place in the KOSPI market in terms of market capitalization as it share price hit a 52-week high on the back of an improvement in operating profits and an expansion of its financial business.Naver closed at 164,000 won on Oct. 31, up 6.15 percent (9,500 won) from the previ
Naver has unveiled a plan to build the world's first robot-friendly building.“We have made a bold decision for the coexistence of people and robots,” Naver Labs CEO Seok Sang-ok said while announcing the Second HQ Building 1784 project at DEVIEW 2019, the biggest developer conference in Korea he
Naver is working on a global artificial intelligence (AI) research belt with the United States and China competing to take the lead in the AI industry.According to global consulting firm McKinsey, AI technology is expected to increase the global GDP by 1.2 percent and generate an economic effect of
Industry tracker CEO Score recently analyzed the 51 South Korean business groups led by chairpersons and constituting the 59 large business groups designated by the Korea Fair Trade Commission and said on Oct. 16 that the total equity value of the chairpersons of the 51 groups and their families was
Kookmin Bank’s simple payment service “Liiv Bank Pay” will be available in Japan starting next month. This is the first overseas simple payment service launched by a Korean commercial bank. Other banks are also expanding their simple payment services to global markets following Naver Pay and Kakao P
Pension funds and public funds, including the National Pension Service (NPS), are expected to tone down their aggressive stock purchasing after boosting the KOSPI market by purchasing large-cap stocks since August.As negative indicators of the global economy have recently been announced, an increasi
The Korea Exchange announced on Oct. 6 that Samsung Electronics, SK Hynix, Hyundai Motor, Celltrion and LG Chem were found on the KOSPI’s top 10 market cap list at the end of last year, at the end of the first half of this year and on Oct. 4 this year.POSCO, SK Telecom and Korea Electric Power Corp.
CODE42, an autonomous transportation-as-a-service startup established in March this year, announced on Oct. 1 that it has successfully raised 30 billion won (US$25 million) in Pre-A funding, with investment by major Korean conglomerates including Kia Motors, SK Telecom, LG Electronics, and CJ Corp.