Home transactions in Seoul and Gyeonggi Province have plunged over the last three months, after the government introduced strict measures to stabilize real estate prices, including tax hikes and loan regulations, data showed Sunday. The number of apartment transactions in Seoul dropped to 1,923 in August from 15,589 in June, while that of Gyeonggi Province too decreased to 7,117 in August, from 34,899 in June. The housing prices, which the government aimed to rein in, remained flat. As of

As competition in over-the-top and pay TV services market intensifies, SK Broadband is seeking to overhaul its solutions. The company said Sunday it has changed the brand name to Lovely B tv, while adding new features and contents to its platform to increase user experience, including artificial intelligence recommendation engine and Supernova, which is designed to improve the quality of image and sound source based on AI-deep learning algorithms. The company has also transformed the user exp

Telecom operator KT said Sunday that it would hire around 400 new employees through virtual recruiting this fall. “The company decided to hire new employees to offer jobs to young people, although there are difficulties in operating a workforce amid the coronavirus pandemic,” the company said. KT said it would hire 400 new workers, including interns who will later get opportunities to become full-timers. The divisions that are open to applicants include marketing & sales, netwo

In the first six months of this year, 142,663 babies were born in South Korea, marking the lowest since the Statistics Korea started compiling related data in 1981. The number of newborns in June dropped to 22,193, down by 7.5 percent from 23,992 in the same month of 2019. The nation’s fertility rate -- average number of children a woman bears in her lifetime -- came to 0.92 last year, down from 0.98 in 2019. Meanwhile, the number of people who died during the first quarter reached

Netflix’s regional office in South Korea is being investigated for alleged tax avoidance, according to industry sources on Thursday. The National Tax Service made its first visit to the Netflix‘s office in Seoul and launched a probe on Wednesday. The NTS suspects the global streaming giant might have intentionally avoided paying tax by reporting fiscal deficits after sending large-sized management consultation fees to the company‘s US-based headquarters. Netflix’s o

The employment rate in South Korea dropped in the first half of this year, due to the economic fallout from the coronavirus pandemic, according to Statistics Korea’s data Wednesday. The employment rate for cities went down by 2 percent at 58.3 percent, compared to last year, according to the data. The employment rate for counties also decreased by 0.9 percentage point to 65.9 percent. The jobless rate in Osan, Gyeonggi Province, and Gumi in North Gyeongsang Province reached 5.4 percen

The Ministry of Science and ICT said Wednesday that it will look into Google and Apple‘s in-app payment systems over claims that they apply excessive commssions to app developers using their platforms. Local app developers and businesses earlier this month asked the government to look into their in-app payment systems and see if the US tech giants are violating local laws that prohibit telecommunications service operators from obstructing users in choosing services. Local developers argu

Microsoft announced Tuesday it has opened an experience center in Hyundai Department Store branch in Gangnam-gu, southern Seoul. The company noted that its Smart Life-style Experience Store will hold exhibitions featuring the latest products. The store comes in four sections showcasing different types of products, including its gaming console Xbox, the company’s operating system, software, digital devices and character products from Minecraft. The company will also hold promotional ev

Coca-Cola Korea on Sunday said it has launched summer editions of its widely loved drinks Coke and Sprite, decorated with signature colors and graphics depicting summer activities. The company said it tried to add an uplifted spirit to its drinks against the backdrop of the new normal after the COVID-19 outbreak. Coca-Cola also expressed hopes that its drinks accompany people’s summer activities that people now tend to enjoy while staying indoors. Coca-Cola Korea’s limited edition

Samsung Electronics said Friday that it has officially launched its flagship Galaxy Note 20 phablets globally. The South Korean tech giant’s newly launched lineup, available in 70 countries, comprises the standard Note 20 and the high-end Note 20 Ultra. Samsung Electronics added that the products will be available in a total of 130 nations worldwide by mid-September. The company plans to hold launch events and promotional activities depending on the COVID-19 situation in each nation.

The Busan government said Friday it would proceed with AI Korea 2020, despite the resurgence in new coronavirus cases in Seoul and Gyeonggi Province. The Busan government said it would strengthen COVID-19 prevention measures for the event, scheduled between Sept. 17-19 at Bexco in Busan. The expo, which will be held at 13,000 square-meter exhibition areas, has been designed to attract leading scientists, developers and entrepreneurs in related sectors. The Busan government said it would show

LG Display said Friday that the company has provided its transparent organic light-emitting diode panels for windows of subway trains based in Beijing and Shenzhen, China. The 55-inch OLED display windows installed in trains can show information ranging from news and a weather forecast to subway transit maps and flight schedules. LG Display said the company aims to collaborate with train window makers to increase its transparent OLED panel supplies. The company added it would diversify tran

  Local startup companies Wednesday have submitted a petition to the Korea Communications Commission, asking for an investigation into whether Apple and Google are violating laws related to in-app purchases. According to an alliance of local application developers and startup firms, Apple has been forcing developers to use their specific in-app purchase system since 2011, through which the company takes around 30 percent commission from purchases by users. Google might apply an in-app pu

South Korean telecom firm LG U+ announced last week that it has commercialized the world’s first 5G-based augmented reality glasses. Although the glasses use its local 5G network, they rely on equipment developed by China-based Nreal. Smart glasses were initially adopted by company facilities, mainly due to the high price tag, which still keeps them unaffordable for average consumers. They are now being widely used to check facilities and provide remote support on industrial sites. Be

One of the nation’s leading low-cost carriers, Jeju Air said Monday that new stocks worth 135 billion won ($114 million) have been allocated to the company’s existing shareholders and employees. The stocks were offered at 12,400 won, a 20 percent discount from the company’s stock price as of the end of last week. The company’s shares fell by 0.32 percent to close at 15,500 won. In Jeju Air’s recapitalization scheme, the Jeju municipal government subscribed for ar

SK Telecom, a leading mobile carrier in South Korea, said Monday that usage of company‘s home care service by senior citizens using through its artificial intelligence speaker Nugu is continuing to increase this year. According to the telecommunications firm’s latest report, the number of seniors using the home care service has increased to 4,700 as of July from 3,200 in April last year. The monthly average uses of the AI-based home care service have also jumped by 127 percent,

South Korean exports of information and communications technology products increased for the second consecutive month in July, latest data showed Thursday. According to the Ministry of Trade, Industry and Energy, Korea’s value of ICT exports in July increased by 3.3 percent on-year to reach $14.99 billion. Imports during the same period also grew by 1.2 percent at $9.86 billion, resulting in a trade surplus of $5.13 billion. The nation’s exports of ICT products in July expanded du

The number of digital driver’s license app users in South Korea has surpassed 1 million, according to major telecommunications firms here Wednesday. Personal smartphone authentication app Pass was developed in June, as a collaboration between SK Telecom, KT, LG U+ and the Korean National Police Agency. The digital driver’s license is currently used as to show driver’s qualification and as identification at convenience stores. The local mobile carriers said they plan to incr

South Korean telecom firm KT on Wednesday announced the launch of its subscription-based game service that streams computer and console games on smartphones. The streaming service will be up against rivals SK Telecom and LG U+, who have joined hands with Microsoft and Ndivia, respectively, for a similar service. KT said it has decided to offer a platform that is more flexible and fits the demands of local users. The company started its beta tests of the cloud-based gaming service GameBox sev

GS Group said Tuesday it has donated 1 billion won to the Community Chest of Korea to help victims affected by the recent heavy downpour in South Korea. “We hope the donation will support those who suffered from heavy monsoon rains,” a company official said. “The group will continue its relief efforts.” GS Group affiliates have been separately joining relief efforts to support recovery efforts. GS Caltex last month delivered 100 million won worth relief kits to a l