In May 2010, the social commerce market was created by TMON, and with the participation of Coupang and Wemakeprice in the same year, a full-scale competition has started in the market. Four years after the creation of the market, three companies are still operating at a loss while fiercely competing
Samsung Electronics has reorganized the Media Solution Center (MSC) six years after its creation. Originally, it was established to operate as a Korean version of the App Store. But the company announced on Dec. 10 that it will dissolve the organization.On the same day, Samsung revamped its organiza
There has been no budget allocated for shale gas technology for two consecutive years, making it harder for shale gas businesses to go forward. A total of 1.1 billion won (US$1.0 million) was invested in shale gas development for three years, until 2012. However, no further investment is now expecte
The Korea Finance Corporation conducted a survey on 3,064 Korean companies’ capital investment for this year and the next between Oct. 28 and Nov. 28, and announced on Dec. 9 that their combined capital investment is estimated to reach 130.5395 trillion won (US$117.8746 billion) by the end of this y
The Hanwha Group will merge Hanwha Solar One and Hanwha Q Cells, two of the subsidiaries of Hanwha Chemical, to reshape its photovoltaic power generation business. According to the plan, Hanwha Solar One is to fully own Hanwha Q Cells through new stock issuance.The main office of the new company is
A Korean research team has successfully developed a technology to promise an ultra-high resolution OLED display, which are acknowledged to be next-gen displays, through a production conversion process. This technique is expected to be usable in the production of shadow masks for OLED display panels
The introduction of a secret chat mode to KakaoTalk is drawing a lot of attention.Daum Kakao announced on Dec. 8 that it has added Secret Chat mode and Decline Invites features to better protect the privacy of KakaoTalk users.End-to-end encryption technology is used in Secret Chat mode, which stores
Hanwha Group Chairman Kim Seung-youn chose a visit to an overseas construction site for his first official move after his comeback to management.From Dec. 7 to 9, Chairman Kim looked around the new city site of Bismayah, Iraq, the construction order of which Hanwha Engineering and Construction (E&C)
A Korean economics researcher released a statement saying that the expansion of Chinese and Indian businesses into the global information and communication technology (ICT) industry must be watched carefully.Seo Gi-Man, a senior researcher at the LG Economic Research Institute, released a report on
There are 177 companies, including 39 major corporations, slated to go public in Korea next year.According to KTB Asset Management, the 177 include 100 to be listed on the Korea Securities Dealers Automated Quotations (KOSDAQ), 16 non-Korean companies, 22 biotech firms, and five to be transferred fr
The memory semiconductor market is projected to post double-digit growth next year. As a result, the top-ranked Samsung Electronics and SK Hynix, which is in third place, are expected to perform better. However, it is unclear whether or not an increase in demand will actually lead to an improvement
The Financial Services Commission (FSC) has decided to nurture the financial technology (fintech) industry next year as one of its major priorities. Previously, the FSC made a plan to establish measures to support the convergence of IT with the finance sector early next year. Hence, the government i
LG Electronics is going to unveil its 4G smart watch, tentatively named the G Watch R2, next year.With LG's scheduled release of the 4G smart watch following the launch of the Gear S by Samsung, competition between the two companies is expected to intensify. In particular, the Apple Watch is also go
As the simple payment market is rapidly growing, there is increasing attention towards a payment card technology called tokenization, which makes it possible to safely store and manage 16-digit credit card numbers. Since most local credit card companies technically depend on foreign companies such a
Samsung Electronics refuted the argument that recycled AMOLED screens are used in Galaxy smartphones.“There is a rumor that we have used recycled AMOLED display panels in our smartphones, but it is not true at all,” it said on its official blog on Dec. 3, adding, “Recycled AMOLED display panels have
Greenpeace pointed out that a substandard material is used in some nuclear power stations in Korea. The Korea Hydro & Nuclear Power Corporation, in response, said that the same material is used around the world.According to Greenpeace, the alloy material Inconel 600, which has been considered to be
On July 20, 2011, the Intellectual Property Framework Act (IPFA) became effective in Korea, focusing government support for the creation, protection, utilization, and infrastructure of intellectual property (IP) in relation to technology and industry development. This is currently one of the top eco
According to the National Assembly on Dec. 3, a revised bill of the Value Added Tax (VAT) Act passed in the plenary session on Dec. 2, on which the government plans to impose a 10 percent VAT on the app markets of Google and Apple from July of next year.Until now, the Korean government didn't levy t
The Hanwha Group said that there is no money problem at all regarding its acquisition of four Samsung subsidiaries.“There is no financial obstacle with regard to the big deal,” said Hanwha Public Relations Manager Kang Ki-soo at a press conference on Dec. 3, adding, “It is said that our subsidiaries
Fiat Chrysler Automobiles (FCA) picked Mando (CEO Sung Il-mo) as the Supplier of the Year. This is the first time that Mando won the award in Europe.The award criteria includes price, quality, delivery, partnerships, and warranty. Mando got the same prize by Chrysler in 2011, and June this year in N