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.
Intel Corp., the world’s No. 1 non-memory semiconductor producer, has shown off its advanced technology in memory semiconductors in Seoul, issuing a challenge to Samsung Electronics and SK Hynix, the two leaders of the global memory industry.“We know that the yield of 128-layer NAND flash memory-bas
Internet traffic is soaring in South Korea with video and music streaming services becoming increasingly popular. Still, foreign content providers (CPs) generating the massive traffic are paying nothing or close to nothing for their network use. It is pointed out that the unlevel playing field will
The Korea Startup Forum, the Korea Internet Corporations Association, and local and foreign content providers such as Google, Naver, Netflix, Kakao and Facebook released a statement on Aug. 26, claiming that the South Korean government needs to completely overhaul its network fee calculation structu
South Korean debit and credit card firms are on alert as major fintech companies are entering the financial platform service market to challenge existing big players, such as Kakao Corp. and Naver Corp. Card firms are spending a huge amount of money to attract new customers, but an increasing number
South Korea's weight in the Morgan Stanley Capital International (MSCI) Emerging Market (EM) Index is expected to drop by 0.3 percentage point in a rebalancing scheduled for the end of this month. The amount of stock sales from passive funds due to the adjustment is estimated at 2 trillion won (
LG Electronics announced on Aug. 14 that it has signed a business agreement with Lumi of China on Aug. 13 to develop new technologies and expand business in the smart home sector. Under the agreement, the two companies will provide artificial intelligence smart home services in the global market bas
Samsung SDS will make a full-scale foray into the Southeast Asian IT service market by becoming the largest shareholder of CMC, a large IT service company in Vietnam.Samsung SDS announced on July 28 that it signed an investment contract with CMC on July 26 under a strategic investment agreement. CMC
As a boycott of Japanese goods continues following Japan’s restriction of exports to Korea, woes are growing among local distribution companies.Lotte Group has been hit the hardest by the boycott as it has many joint ventures with Japanese companies. Lotte Shopping has a 49 percent stake in Uniqlo K
Naver Business Platform (NBP) announced on July 11 that it has concluded an agreement with Deskera, the number one SaaS company in Southeast Asia.Deskera will provide cloud-based enterprise business software solutions to Southeast Asian customers through the global legion of the Naver Cloud Platform
Masayoshi Son, chairman of Japan’s SoftBank Group, discussed global economic issues with heads of major Korean business groups on July 4. Son met with the Korean business leaders at the Korean Furniture Museum in Seongbuk-dong, Seoul, after visiting President Moon Jae-in earlier in the day.In attend
The Korea Fair Trade Commission (KFTC) announced on July 4 that Apple filed for a consent decision with regard to its abuse of bargaining position in relation to SK Telecom, KT and LG U+. The KFTC recently investigated Apple regarding suspicions that it abused its superior position against the mobil
LG Electronics and LG International, the core affiliates of LG Group, have agreed to join Kakao’s blockchain platform Klaytn. As Samsung Electronics started to actively participate in the blockchain business by equipping the Galaxy S10 with a blockchain key store, LG is also trying to expand its bus
Naver and Naver's Japanese subsidiary LINE announced on June 26 that they will hold “AI Rush 2019,” a hackathon for artificial intelligence (AI) developers around the world.The hackathon is intended to stimulate technology development through a sharing of knowledge and experience in deep learnin