The South Korean cloud computing market has been dominated by global players such as Amazon Web Services and Microsoft, whose combined market share is currently as high as 80 percent. South Korean IT companies are trying to make a breakthrough with multi-cloud attracting much attention these days an
The growth of the fintech industry in Korea is slower than in other countries such as the United States due to an immature ecosystem and a delay in invigorating competition in the sector, the Financial Supervisory Service (FSS) said on June 6.In the United States and Europe, mega deals worth more th
The global artificial intelligence (AI) speaker market is showing signs of becoming a two-way race between U.S. and Chinese IT companies. Industry watchers say Korean companies are far behind the front-runners.The top two players in the global AI speaker market in the first quarter of this year we
Voices against the classification of game addiction as a disease are spreading throughout the ICT industry from their epicenter in the gaming industry. Games are closely related to the development of new technologies such as artificial intelligence (AI) and virtual reality (VR) technology. In partic
SK Group hosted Social Value Connect (SOVAC) 2019 in Seoul on May 28. More than 4,000 entrepreneurs, non-profit organization members, college students and citizens attended the event proposed by SK Group chairman Chey Tae-won.Over 80 organizations and groups took part as partners in the event held u
Korean Android smartphone users used the YouTube application for a total of 38.8 billion minutes in April, a 50 percent increase from a year ago, according to a report from Wise App, an application analysis service provider.Korean smartphone users spent the most time on YouTube out of all smartphone
Avokado Lab aims to disrupt the restaurant industry by using robotics and artificial intelligence. To resolve the difficulty of having a quality meal at an affordable price, Seoul National University and Carnegie Mellon University alumni, including CEO Benjin Kim, HW lead Robert Baek, SW lead Raphae
A Galaxy S10 5G handset caught fire less than a week after purchase, a Korean user claimed in the Samsung Smartphone Cafe in Naver on April 30."Samsung Electronics only said that there is a serious external damage to the phone, without saying it would replace it or give me a refund," the user said i
South Korea’s e-commerce companies are striving to reinforce their competitiveness to defend the home turf against global giants.Domestic companies which have joined the e-commerce market, such as Naver, Shinsegae Group, Coupang and 11st Street, are strengthening their power in the domestic market b
Naver has thrown down the gauntlet to global IT giants increasingly penetrating the South Korean cloud service market.“South Korea has always been a test bed for new information technologies, which means competition has always been there,” said Park Won-ki, head of Naver Business Platform Corp. in a
Hyundai Motor said on April 15 that it would invest in Code 42, a recently established startup, for cooperation in various areas related to future mobility. Code 42 was created last month by Song Chang-hyun, who was chief technology officer (CTO) of Naver Corp. until early this year.Code 42 members
Controversy is brewing again over reverse discrimination against South Korean paid broadcasting services with Netflix becoming more and more popular in South Korea, where the number of Netflix subscribers exceeded 2.4 million in February. Under the circumstances, the South Korean government is consi
Google's YouTube is threatening not only Korean players in the video media market but also those in the Internet search market, which had been dominated by Naver. As YouTube has become a black hole that absorbs the Korean Internet and mobile markets as well as the media market, Korean internet c
ENERZAi, a Korean startup that provides AI-based solutions for the energy sector, has received seed round investment from Springcamp, a venture capital subsidiary of Naver Corp.ENERZAi is a team comprised of engineers from Seoul National University’s Department of Electrical/Computer Engineering and
South Korea’s leading IT companies are planning to roll out their new blockchain-based commerical services starting from the first half of the year. They have been developing blockchain-based services since last year when the blockchain fever swept throughout the country.Domestic companies that have
Naver, KT and Intel representing their respective industrial sectors among others will begin to make a foray into the 5G-based robot market.Naver Labs, an R&D arm of Naver, announced on Feb. 28 that it signed a strategic alliance deal for developing 5G robots with KT and Intel at the MWC 2019 with N
The National Tax Service (NTS) will strengthen taxation on multinational companies, such as Google and Facebook, by hiring more workers for overseas financial information collection. The number of tax investigation into multinational firms is expected to greatly increase as a legal basis is now in p
Foreign capital is flooding the South Korean exchange-traded fund (ETF) market. Passive funds which invest in emerging markets as a whole are common but the net assets of “Korea ETF” targeting South Korea are rising significantly. Passive funds refer to investment funds that passively track an index
Facebook has decided to pay a network fee to SK Broadband. Under the circumstances, companies such as YouTube and Netflix are likely to be put under pressure.The network fee negotiations between SK Broadband and Facebook were concluded on Jan. 24 in about two years. Details of their agreement are co
Naver will transform its video platform Naver TV into an open platform like YouTube, the company announced on Jan 24.In the new system, anyone can upload videos on Naver TV without any special requirements. Naver is also planning to establish a creator compensation system, like YouTube, to encourage