Korea's top mobile carrier SK Telecom announced that it has launched the “Enjoy Mobile Korea” event on March 23, allowing foreign visitors to have an opportunity to experience its services free of charge.In the program, foreigners arriving in South Korea will be able to use unlimited voice calling s
Samsung Electronics’ vice chairman Lee Jae-yong reportedly arrived at Haneda Airport of Japan on March 18 via Korean Air. Samsung Group shortly said, “It’s for a business meeting.” However, there are diverse interpretations in the market due to his visiting time and destination.Lee is scheduled to a
It was found that the top 10 percent income brackets in Korea took up 45 percent of the total income in the nation, which is the highest proportion among Asian countries.According to an IMF report on income inequality in Asia, Korea’s top 10 percent people in income standings owned 45 percent of the
The Peterson Institute for International Economics analyzed the Forbes World's Billionaires lists for 1996 to 2015 and said on March 14 that the ratio of those who have at least US$1 billion in inheritance to all the billionaires was 74.1% in South Korea in 2014 while the world average was 30.4%.The
It has been found that Samsung Electronics America had an asset of approximately 14.9 trillion won last year, the largest among those of the Samsung Group’s overseas corporations. Last year, Samsung Electronics America’s asset increased by four trillion won or so, including two trillion won in debt.
Taiwan has beaten Korea in semiconductor wafer production. According to IC Insights, a semiconductor market survey organization, Taiwan edged out Korea in monthly wafer market share by 21.7 to 20.5 percent in December 2015. Japan came in third with 17.3 percent, while North American ranked fourth wi
Samsung Electronics dramatically boosted its share in the global smartphone application processor (AP) market, entering the top five in the rankings. The company already ranked top in the global DRAM and NAND Flash markets but showed relatively weak sales in the smartphone AP market.The global smart
Japanese electronics giant Sharp Co. will be acquired by Taiwan’s Hon Hai Precision Industry. It is the first foreign takeover of a major Japanese electronics company. Hon Hai is planning to compete with Korean electronics companies through the acquisition of Sharp.At a board meeting on Feb. 25, Sha
A number of tax-exempt overseas stock funds are being put on the market one after another for investment in emerging markets such as China, India, Southeast Asia and Latin America as well as advanced economies like the United States, Europe and Japan with the sale of this type of funds scheduled to
Virtual reality, or VR, has been stealing the show at the Mobile World Congress (MWC) which used to be dominated by smartphones. Even though VR is now used mostly for entertainment purposes such as games and films, it is expected to expand into wider areas such as the medical, construction and touri
The Korea Customs Service announced on February 22 that Korea’s exports totaled US$58.7 billion between January 1 and February 20 this year, down 18.3% from a year ago, and the amount for February fell 17.3% year on year to US$22.16 billion. The value of exports dropped year on year for the 13th con
It has been found that Korea recorded the highest R&D investment-to-GDP ratio in the OECD but the absolute amount of its R&D investment was about one-fifth of China’s.The OECD announced on February 11 that Korea recorded an R&D investment-to-GDP ratio of 4.29% in 2014, surpassing the 34 member count
With the expansion of new business relations, including China, Korean panel maker LG Display Co. has regained its position as the top seller of ultra-high definition (UHD) television panels in the world in the fourth quarter of 2015.According to industry sources and market research firm IHS on Feb.
The Chinese media outlets including the Global Times are criticizing the South Korean government for its attempt to accept the THAAD system in the Korean Peninsula, mentioning that the deployment of the missile defense system can affect the security of Beijing, Tianjin, Hebei, etc. Under the circums
It was predicted that a sharp increase in big Korean companies’ capabilities to raise cash will promote big deals in the M&A market. KPMG announced in its 2016 M&A Outlook Report that the average cash flow index of major Korean companies rose to 0.4, an increase of 41 percent from the previous year.
China is jumping into the global DRAM semiconductor market, which is dominated by Korean semiconductor manufacturers, in earnest.According to China’s major media outlets on February 3 (local time), Tsinghua Unigroup will invest 60 billion yuan (US$9.07 billion or 10.87 trillion won) in building a 12
Yesterday, Robert Walters released the 17th edition of its Global Salary Survey, giving a comprehensive picture of recruitment market trends and global salaries.Futures are bright for specialist talent, with the company predicting 2016 trends to show continued demand for the high tech sector, partic
Korea’s foreign exchange reserves in January inched down from the end of last year. The reserves dropped for three consecutive months due to a stronger US dollar and a drop in the value of other foreign currencies. According to the Bank of Korea (BOK) on February 2, Korea’s foreign exchange reserv
E-Land Group has successfully opened the Parkson-Newcore Mall in Tianshan, Changning District of Shanghai, China.Accordingly, more than 40 local online and offline media outlets, including Xinmin Evening News, the leading newspaper in China, Oriental Morning Post, the No. 1 morning newspaper in Shan
Nongshim announced that it has officially exported “Mat Jjambbong,” which leads a jjambbong (spicy noodle soup with seafood) craze in the local instant noodle market, to the U.S. on February 1. Based on its stable sales outlets expanded through Shin Ramen, the company plans to create the jjambbong c