Heart-warming stories about Prudential Life Insurance Co.’s community service tradition trace back to 19th century America. Prudential’s history began with John Fairfield Dryden who created “The Prudential Friendly Society” in 1875 in order to help poorer people. The first U.S. company to make life insurance affordable to the working class, Prudential has supported people shunned by the old social security system ever since.For more active and systematic CSR activities, Prudential Life Insurance

Korean mobile carrier KT is considering taking part in bidding for Moroccan mobile carrier Maroc Telecom, according to news reports on Tuesday. Reuters reported that KT may jump into bidding for the 53-percent stake in Maroc Telecom currently held by French conglomerate Vivendi. Citing two people familiar with the situation, the agency reported that the seller, Vivendi, hopes to make about $7.15 billion. But KT officials neither confirmed nor denied the news. “They (decision makers) said ‘no com

Before the advent of TV delivered by Internet broadband, old-fashioned, a-la-carte television was king. In those days, viewers could only choose from limited content, in a limited time and space, on a limited device. But beyond the TVs sitting in living rooms and bedrooms, people now have access to TV content through desktop computers and laptops and even smart devices, such as smartphones and tablet PCs.According to ConsumerLab’s annual research in 2012 on TV consumption that was compiled by Er

SKC and SK Telesys chairman Choi Shin-won was conferred an honorary doctorate in business administration from Konkuk University on Wednesday. SKC said that Choi received the recognition for his contributions to raising brand-awareness of SK products and pioneering new major business sectors. Drawing no-imbroglio agreement between the company and its labor union also earned positive review in the business capability assessment from the university, SK Telesys said. In 2003, the chairman created a

The launch of the iPhone5 on Dec. 7 has sparked a war between mobile carriers KT and SK Telecom, over hegemony in Korea’s Long Term Evolution market. Securing the largest client base is the first priority, the telecommunication firms said, to win a larger share of the smartphone market since the nation introduced LTE. Although reservations for the iPhone5 began before the official launch, not all applicants stuck to their original orders, a KT official said. The first-week iPhone sales will prov

In cooperation with mobile carrier SK Telecom, Korea Exchange Bank opened its first “smart bank” branch at Seoul Square in Namdaemun, Seoul, on Tuesday.The paperless bank uses an electronic documentation system, multi-financial service machine and video counseling with bank clerks, SK Telecom said. Dubbed the “Q’Plex Seoul Square Branch,” the bank’s “Smart Branch Device” is a banking machine equipped with the latest information and communication technologies, with which customers can process som

Apple may have turned Samsung into Frankenstein’s monster by entrusting it with the supply of iPhone components, a former employee of Apple’s strategy unit contended in a blog posting on Dec. 7. James Allworth, present fellow at the Forum for Growth and Innovation at Harvard Business School, said that Apple’s expensive, risky patent war against the South Korean handset maker was not the solution to end the dispute. Allworth wrote in his Asymco posting, “The problem that Apple is facing right now

Mobile carrier KT said Monday that its executive vice president Lee Gil-joo was named the chairman of KT Cultural Foundation.Having served in KT’s public communications unit for 27 years, Lee, 57, took office as the foundation’s chairman on the same day. The communications expert will significantly expand the foundation’s scope of public communications, KT said. “I will make the most of my experience in communications at KT to promote the foundation’s values, and ultimately to set a milestone to

LG Electronics and Samsung SDI announced Thursday that they will appeal the European Commission’s 450 million euro (630 billion won) fine that was imposed for an alleged cartel in computer and television parts. The two Korean firms are determined to appeal the case with the European court after thoroughly reviewing all necessary legal aspects. The European antitrust watchdog decided Wednesday to charge LG 300 million euro (420 billion won) and Samsung 150 million euro (210 billion won), along wi

World experts have given a positive note on Korea’s water management system, expecting that the country’s hydro-related tech will be benchmarked worldwide. Their views were vented when the nation hosted the 2012 World River Forum in Daegu in September, where top officials from 12 countries and six international organizations attended to learn Korea’s advanced hydro technology. The global river forum was co-hosted by the Ministry of Land, Transport and Maritime Affairs and the Office of National

Korean Air was awarded the A380 Award for Top Operational Excellence, presented by European aircraft manufacturer Airbus S.A.S. in the A380 Technology Symposium held in Dubai on Wednesday. The Korean flag carrier said that it was conferred the prize in recognition of its 99.5 percent on-time arrival rate and outstanding operation skills of A380 aircraft.Upon receiving the award, Korean Air has become the world’s only airline to receive three operational awards from Airbus. To present, the airlin

Pakistani President Asif Ali Zardari has been active in meeting with Korean heads of banking, energy and construction businesses to secure more investment to Pakistan during his stay here.The Pakistani president had meetings on Wednesday with leaders of GS Engineering & Construction Corp., Doosan Group, Daelim Industrial Co., KCC Corp. and Sambu Construction Industrial Co. to encourage them to participate in major projects in Pakistan, industry sources said. In a meeting with Doosan Group chairm

As the smartphone has become a necessity regardless of gender, mobile games have successfully pegged the female gaming culture now prevalent among working women. “In the past when online games were dominant, excellent female gamers would be stigmatized as game-addicted hermits,” said NHN Hangame spokesman Hwang Hyun-don, saying that female gamers had unfairly suffered from a negative, androgynous image. “Nowadays, all men and women can play games without damaging their personal image and style.”

Africa is the last emerging market, tech giant Samsung Electronics said on Monday, putting emphasis on its long-term African sales operation.The electronics behemoth set a 2015 sales target of $10 billion, about four times its current sales performance in Africa. Separating its Africa and Middle East operations in 2009, Samsung set up an additional head office in the Republic of South Africa for stronger localization of its products in Africa. The move was also an attempt to expand its pool of c

The prolonged economic slump at home and abroad is prompting consumers, companies and government organizations to tighten their belts. But card spending overseas appears to be going against the trend.According to data from the Bank of Korea, the nation’s overseas credit card payments in the third quarter amounted to about $2.37 billion, setting a new record. BOK officials attributed the overseas card spending increase to the rise in the number of Korean visitors to foreign countries. In the peri

The sales of “phablets,” or large-screen smartphones, manufactured by Korea’s two handset makers ― Samsung and LG ― took up more than 90 percent of the global market, according to a U.S. market research firm.Strategy Analytics said Sunday that Samsung Electronics secured about 78 percent market share in the third quarter. LG Electronics accounted for about 14 percent market share.A combination of “phone” and “tablets,” phablets are touch-screen devices that are larger than smartphones but smalle

The trend in online marketing is fast shifting into mobile advertisements, as smartphones have become a necessity for Koreans, according to financial investment industry data. The shift comes as the number of smartphone users in Korea surpassed 30 million. This year’s mobile ad business is expected to reach about 204 billion won ($190 million), about 107 times more than two years ago, when it was just 1.9 billion won. Hanwha Investment & Securities Co. expects that the mobile ad market will keep

Samsung Electronics officials discussed next year’s shared-growth plan with its partners at Sungkyunkwan University’s Suwon campus on Thursday, the company said.High-ranking Samsung officials and about 450 first- and second-tier subsidiary firms of the tech giant assessed their business-to-business communication and difficulties in operation. “In this time of great challenge, calls for change and communication are key for strengthening corporate competitiveness,” Samsung Electronics’s co-prosper

A tuition-free software school is accepting applications from prospective students from Nov. 28 through Dec. 12, with the academic center slated to open in March, according to NHN officials on Wednesday. Named “NHN Institute for the Next Network,” the software school, supported by the operator of the country’s largest portal Naver, is expected to become a cradle of “the next software culture,” its officials said.The institution registered under the Ministry of Knowledge Economy aims to nurture t

The average Korean has spent about 73,000 won ($67) per year on average in buying “Lotto,” the best-selling lottery ticket issued by the nation’s largest lottery operator Nanum Lotto, the Ministry of Strategy and Finance said on Monday. Fluctuations in the sales history of the national lottery meet the unspoken rule that Lotto is a hidden barometer for the nation’s real economy.Celebrating the 10th anniversary of foundation, Nanum Lotto was first issued in December 2002, when its average annual