SK Telecom announced on January 25 that it has signed a memorandum of understanding (MOU) with Cisco, the world’s largest networking equipment manufacturer headquartered in the U.S., to develop a new Internet of Things (IoT) platform.On January 22, the two companies agreed to co-develop the innovati
SK Telecom, the nation’s top mobile carrier, announced on Jan. 7 (local time) that it successfully demonstrated cooperation between different Internet of Things (IoT) standards, including the one-machine-to-machine (oneM2M) and open interconnect consortium (OIC), at the ongoing Consumer Electronics
Ssangyong Engineering & Construction (Chairman & CEO Kim Suk-joon), a South Korean construction company, succeeded in winning three large-scale architectural projects worth US$1.6 billion (1.88 trillion won) in total from the United Arab Emirates at the same time after the Investment Corp. of Dubai
It has been confirmed that Samsung Electronics is in discussions with Russia to transport its products via combined railways such as a railroad from Dalian, China, the Mongolian Railroad and the Trans-Siberian Railroad (TSR). This idea is quite meaningful in that big Korean companies led by Samsung
KT announced on Oct. 22 that it is to take part in the New Cross Pacific (NCP) Project as a coordinator and set up and run a network operation center for the project in Busan City. The purpose of the NCP Project is to form a submarine cable network with a data processing capacity of about 80 Tbps an
Korea set the stage for leading the development of ICT-based security technology in the global shipbuilding and marine industries, as its technology for protecting the equipment and systems of vessels from various cyber threats and attacks has been adopted as an international standard by the Interna
Hyundai Merchant Marine has finished constructing a container terminal of Rotterdam World Gateway (RWG) at the port of Rotterdam, Europe's largest sea port. The terminal cost US$1 billion (1.19 trillion won) to develop, and 20 percent of its shares are owned by Hyundai Merchant Marine.The compan
Businesses are unveiling their own electronic payment platforms one after another in this fintech boom. In this climate, more and more companies are even choosing cooperation with traditional business enemies to maintaining reciprocal relationships with business partners.According to industry source
A much-hyped bidding race for licenses to run new duty-free stores in Korea ended on July 10. The license for a shop in Jeju City went to the Jeju Tourism Organization. The Korea Customs Service (KCS) awarded another license to a consortium of Hyundai Development Company (HDC) and Shilla Duty Free.
Incheon International Airport Corporation (IIAC) announced on July 9 that it has been named as a preferred bidder for a development consulting project of commercial facilities at the third terminal at Jakarta Soekarno-Hatta International Airport in Indonesia. Once selected as the final choice to car
The China Construction Bank is focusing on the sale of its platinum credit card that provides a 5 to 15 percent discount at the Lotte Duty Free Shops in Korea. At the same time, the bank is planning to open an online shopping mall dedicated to Korean products next month so as to attract Chinese tour
George Mason University announced today that it has named Steven K. Lee the new president of its Mason Korea campus.Mason Korea is a key part of the university’s effort to create a truly global learning experience to prepare students for a changing and increasingly global economy. Korean students re
Kumho Tire will supply the official racing tires for the Auto Grand Prix World Series (Auto GP) to be held at the Hungaroring Circuit in Hungary on May 2, the company said on April 30. The company will exclusively supply the tires for the series for four years, the company said.The Auto GP is an upg
President Park Geun-hye, who is staying in Peru as a national guest, had an interview with local economic newspaper Gestion on April 18 (local time). “With regard to the Korea-Peru Free Trade Agreement, both countries will be expanding their bilateral cooperation mainly in high-added-value and new i
Chinese tourists visiting Korea can pay at affiliated offline stores like duty free shops with only Alipay Wallet installed in their smartphones.Hana Bank made an alliance with Chinese online payment gateway service company Alipay, and started settlement services from April 9.As a result, Chinese to
In June, Incheon New Port will open at Incheon Port, serving as the gateway to Seoul and the metropolitan area. In the new port, large vessels will be able to freely enter and leave the ocean.Until now, Incheon Port has had a greater percentage of maritime transport services within the North China a
Launched in 1971, the Korean Culture and Information Service (KOCIS) started as a communication bridge to promote Korean national brands overseas. KOCIS is dedicated to providing global citizens with accurate and up-to-date information about Korea. Its master plan is to boost the global image of Kor
The Chinese e-commerce giant, Alibaba, is pushing to construct “Alibaba Town” with the size of 1 million square meters (about 300,000 pyeong) in Incheon.It is reported that the city of Incheon and Alibaba are in talks for a joint investment, investing equally in the project called “Alibaba Town” tha
According to industry sources, PayPal is currently having talks with the financial authorities before kicking off its business in Korea.The growth of the domestic Active X-less payment market is expected to gain speed with the authorities having allowed qualified payment gateways to store credit car
The Bank Wallet Kakao service makes its debut on Nov. 11. In addition, a number of new-concept banking services combining finance with information and communications technology (ICT) are expected to follow the mobile messenger-based remittance service one after another.“I am convinced that we need t