South Korea is seeking ways to levy a corporate tax on profits of global technology companies and other multinationals as early as next year in response to growing criticism of their tax avoidance structures. The diverted profits tax is more widely called the “Google tax,” as U.S. tech giants such as Google, Apple and Amazon earn a lot of money around the world, but collect nearly all of the profits in tax havens. “The rest of the world is considering the adoption of the ‘Google tax’ because the

Samsung Group has more recently focused considerable resources into the biotechnology business with aims to become a major force in the still nascent but lucrative market.The nation’s largest conglomerate is investing at least $2 billion in biopharmaceuticals, especially the soaring segment of biosimilars -- cheaper copied versions of branded drugs whose patent has expired. Samsung Biologics` production plant in Songdo, IncheonAnd two Samsung units -- Samsung Bioepis and Samsung Biologics -- are

Samsung Electronics, the crown jewel of Samsung Group, has been leading the nation’s technological innovation for decades. Amid enhanced economic uncertainties, the company pledges to fend off challenges through innovative new products and relentless research and development efforts.  Samsung Group`s headquarters buildings in Seocho-dong, southern SeoulThe company recently posted third-quarter earnings guidance that beat analysts’ estimates. The company estimated its profit rose almost 80 percen

Value-added network, or VAN, operators are resisting Hyundai Card’s recent decision not to pay sales slip fees for payments made by Samsung Pay, the Korean tech giant’s new mobile wallet service. VAN companies get paid for collecting credit card slips from merchants and inspecting illegal card use. They earn about 20 to 30 percent of the revenue from the process. But Hyundai Card, the nation’s second-biggest card issuer affiliated with Hyundai Motor Group, has recently decided to stop paying fee

LG Chem on Wednesday opened its first Chinese tech center aiming to respond more promptly to local demands in the all-important market.The two-story building with one basement is located at a 4,000 square-meter site in Guangzhou, the capital city of Guangdong Province in southern China. A total of 10 billion won ($8.8 million) was invested for the construction alone. Some 40 researchers, including those hired locally, will be working at the new facility to offer total solutions for product devel

Korean game developer Smilegate Group is teaming up with Hollywood production company Original Film for the big screen adaptation of its mega-hit shooting game “Crossfire.”This is the first time for a Korean-made game to be adapted for the silver screen. Launched in 2007, “Crossfire” was the world’s top-grossing online game last year, raking in 1.5 trillion won ($1.3 billion) in global sales. The number of concurrent users exceeds 6 million, the largest figure for a single game. Smilegate said W

Sebang Group, a South Korean midsized conglomerate specializing in logistics services, celebrated its 50th anniversary on Sept. 11. Established in 1965 by founder Lee Eui-soon, the group has grown into a global name with 16 affiliates. One of its key affiliates is Sebang Global Battery -- widely known for its Rocket battery brand. During a ceremony with all employees in attendance, chairman Lee Sang-woong stressed the need to further strengthen the group’s competitiveness. “Mongolian warrior Gen

Shares of Samsung Electronics surged to a two-year high after the Korean tech giant posted third-quarter earnings guidance that beat analysts’ estimates. Customers try out Samsung devices at a store near the company`s headquarters in Seocho-dong, southern Seoul, on Wednesday. YonhapThe company estimated its third-quarter profit rose almost 80 percent on-year to 7.3 trillion won ($6.3 billion) from 4.06 trillion won, its first quarterly profit gain in two years and the biggest since the first qua

LG Electronics said Wednesday it has teamed up with U.S. chipmaker Freescale to jointly develop Advanced Driver Assistance Systems, or ADAS, a key technology for self-driving cars. ADAS uses cameras to alert drivers of risks, increasing car safety and more generally road safety. The technology is expected to play a bigger role in the era of driverless cars. Under the fresh partnership, LG will offer its world-leading camera technology secured through mobile and home appliance businesses, while F

Samsung Group is gearing up to relocate key affiliates as part of its business restructuring that has continued for its crucial leadership transition to a new generation.The nation’s largest conglomerate has gathered its key affiliates into its fancy headquarters complex, consisting of three sky-scrapers, in Seocho-dong, Seoul, since 2008.  According to industry sources Monday, Samsung Electronics, the group’s crown jewel, is considering moving its marketing and planning divisions to Suwon, Gyeo

LG Chem said Sunday it would supply lithium-ion batteries for Yamaha Motors’ new golf carts by 2016. Yamaha, a Japanese manufacturer of engines and electric motors, is also one of the top golf cart makers globally. An LG battery cell of 5.5 kilowatt-hours and 74 ampere hours has cut the weight in half while doubling battery life, compared to existing lead-acid batteries. They can be used for up to five years without maintenance unlike lead-acid batteries that require maintenance once in two year

Samsung Electronics, the world’s largest TV maker, said Saturday it doesn’t cheat on TV energy efficiency tests, responding to a news report that its TVs appear more energy efficient under test conditions than in everyday use. Tests conducted by ComplianceTV, a testing group funded by the European Union, has recently found the discrepancy, U.K.'s Guardian reported Thursday.According to the report, the European Commission was also considering investigating allegations of cheating the tests even t

LG Electronics on Thursday took the wraps off a new premium smartphone that touts brand-new features such as a second screen and dual cameras. The V10 is the first in a new line of Android smartphones from the Korean tech giant since LG’s mobile chief Cho Juno took office in December last year. The new phone comes as the company’s mobile business unit continues to suffer from sluggish sales in a crowded market dominated by Samsung and Apple.  “We can no longer focus only on the sales figures,” s

South Korea reminded Japan on Saturday of the need for “peace spirit” and transparency in implementing its new defense policy supported by the passage of controversial security bills by its parliament.“In deciding and implementing defense and security policy down the road, Japan will have do so with transparency and in the direction of contributing to regional peace and stability, while maintaining the spirit of the pacifist constitution,” the Foreign Ministry said in a statement.It was respondi

Japan’s parliament early Saturday approved contentious legislation that enhances the role of the country‘s military by loosening post-World War II constraints, after the ruling bloc defeated opposition parties’ last-ditch effort to block a vote.The upper house’s approval makes the legislation into law, reinterpreting Japan’s constitution and fundamentally changing the way it uses its military. Opponents say it violates Japan‘s constitution and puts the country at risk of becoming embroiled in U.

Diverse factors are considered when people choose a home. Not just house prices but also schools, hospitals and big supermarkets near the neighborhood. And then, there is another crucial factor in Korea -- a McDonald’s outlet. Workers sort out parcels at a warehouse in Osan, Gyeonggi Province, Friday, ahead of Chuseok next week. YonhapThe U.S. hamburger chain started a home delivery service here in 2007 -- when McDelivery was still in its infancy worldwide. Currently, some 320 out of its almost

Thanks to the unique “Ppalli Ppalli (hurry, hurry)” culture and one of the best logistics networks in the world, Korea’s delivery industry is thriving, with its range widening and services getting even more specific. From garments and books to groceries and even breast milk, nearly everything can be delivered for a bargain, and the time has reduced to nearly the blink of an eye, offering real-time services. Anything you wantThe most iconic item in the delivery market is food. Whether you call fo

Drones are widely expected to become a game-changer in the future delivery market. Tech firms like Amazon, Google and Alibaba have announced their intentions to use drones for delivery in recent years, and are working on pilot programs. German logistics giant DHL was the first to start a regular drone delivery service, under the project name Parcelcopter 2.0, operating since September last year.  Even though drones are all the rage globally, Korea -- the second nation to develop its own unmanned

People in Korea have long enjoyed convenient food delivery services, ordering in almost all types of food from burgers and fried chicken to jajangmyeon (black bean noodles) and pig’s trotters. Combined with mobile technology, the food delivery services are gaining further traction as more start-ups come up with applications catering to the different tastes of customers and attracting investments.Baedal Minjok, the largest food delivery app here with its monthly users standing at 2.7 million in J