A Seoul court’s decision last week that effectively confirmed Netflix‘s obligation to pay network usage fees to mobile carriers suggests that the global video streaming giant might have to change its business strategy in South Korea, according to industry sources Monday. The US-based content provider that raised 415.5 billion won ($367.6 million) in revenue in Korea alone last year has not been paying network fees to provider SK Broadband, the internet protocol TV subsidiary of SK

To those who have difficulty in grasping the characteristics of the younger generations of millennials and Gen Z -- pay attention to the “metaverse.” A combination of “meta” and “universe,” the term refers to a virtual world shared by people from the real world. Built on the convergence of all things sci-fi such as augmented reality, virtual reality, extended reality, artificial intelligence, fifth-generation networks, edge computing and so on, this digita

Choi In-hyuk, chief operating officer of Naver, the country’s largest portal operator, on Friday announced that he will step down from his post, apologizing for an employee’s suicide. Choi is one of co-founders of Naver, which was established in 1999. He is a close ally of Lee Hae-jin, the de facto chief of the internet company. The executive, however, will maintain his CEO post at Naver Financial. Naver released a statement regarding the employee’s death after an interna

Samsung Electronics and its affiliates will start vaccinating its workers at their in-house clinics starting next month, according to industry sources on Friday. The flagship electronics unit and affiliates, including Samsung Display, Samsung SDI and Samsung Electro-Mechanics, will run an in-house vaccination program as part of efforts to beef up antivirus measures amid the COVID-19 pandemic. Samsung Electronics notified its employees on Friday the company will start the vaccination progra

KH Gangwon Development, a special purpose company of KH Group, will acquire the Alpensia Resort in PyeongChang, which was used as a venue for the 2018 Winter Olympics, the company announced Friday. The company signed an agreement with Gangwong Province on Thursday to purchase the resort, some 180 kilometers east of Seoul, for 710 billion won ($629.65 million). The deal is expected to be finalized by Aug. 23, after due diligence. The Alpensia Resort served as the main location of the firs

LG Electronics’ plan to start selling Apple’s iPhones at its stores is facing backlash from local phone distributors and a private consensus-based panel on shared growth on Thursday threw weight behind opponents, saying LG would be breaking its word if it pushes ahead with the plan. The Korea Commission for Corporate Partnership cited the firm’s pact with the commission signed in 2018 in which LG pledged to strive for co-prosperity with small players in the industry. LG,

Through its first event to introduce an array of 5th generation network technologies late Tuesday, Samsung Electronics has put its emphasis on preemptive investments in 6G to cement its position in the global network industry. Samsung is increasing its efforts on the 6th generation of wireless connections, to bring hyper-connected experiences to users, the tech giant announced during the virtual event streamed live from Seoul to the world. Called “Samsung Networks: Redefined,”

Samsung Electronics on Tuesday unveiled a set of innovative 5G solutions, three chips and one antenna radio, at its first virtual showcase event. Called “Samsung Networks: Redefined,” the show was streamed live from Seoul at 11 p.m., Korean time. It was the first event hosted by Samsung’s network business. The virtual event was held ahead of Mobile World Congress 2021, an offline event slated for June 28 in Barcelona, Spain. Last year’s congress was canceled due to th

Kakao Group, which started off as a mobile messenger app operator and has aggressively expanded into new business territories, is now the country’s fifth-largest business group in terms of market cap, data shows. According to financial data from Korea Exchange and market researcher Infomax, the aggregate market capitalization of all Kakao firms stood at 73.9 trillion won ($65.1 billion) as of Friday. After a dizzying array of spinoffs, mergers and acquisitions in past years, Kakao ha

LG Electronics, the world’s leading manufacturer of organic light-emitting diode TVs, is continuing to expand the market of self-emissive TVs by rolling out new size choices. The company is releasing in Korea and the US this month 83-inch OLED TVs, which it said will be the biggest 4K OLED TV in the world. In Korea, the new model will be available for 10.9 million won ($9,600). It is the latest addition to LG’s OLED TV lineup, which has consisted of 48 inches, 55 inches, 65 inc

South Korea’s Ministry of Science and ICT said Thursday it has revoked approvals for around 1,700 pieces of network equipment and communications devices manufactured by a nearly 400 companies, including China’s Huawei and Korea’s Samsung Electronics. The decision affected a total of 1,696 pieces of equipment from 378 companies that were found to have test records certified by an entity not approved by the Korean government. Under the country’s radio wave law, communi

KT, the second largest telecom business in South Korea, is moving to expand its presence in the financial sector by making an investment in a local fintech firm, the carrier said Thursday. The mobile carrier signed a deal to invest a total of 23.6 billion won ($20.8 million) in WebCash Group that owns WebCash, BizPlay and Roum IT, as part of forming a strategic partnership with the financial IT platform group for enterprises. It is KT’s second investment made in a financial firm afte

Kakao, the nation’s largest mobile messenger operator, is preparing to launch a new subscription-based content platform in August, according to the company on Thursday. The company is currently running a closed beta test of the new platform among its content partners, it said. The platform will allow producers to create, edit and publish various forms of content including news, videos, music and texts. Users can choose the content they want and subscribe via KakaoTa

Poised for a turnaround after years of restructuring efforts, LG Display is rolling out new innovative OLED products, including transparent panels. The world’s largest provider of organic light-emitting diode display panels said Wednesday it will be taking part in the Korea Railways & Logistics Fair 2021 that kicked off a three-day run on Wednesday in Busan to showcase its transparent OLED technology. Transparent OLED panels are what the company believes could be a new cash cow in

In an effort to lead the emerging era of the metaverse, SK Telecom has made a strategic equity investment in ViveStudios, a producer of virtual content, it announced Monday. The two sides did not disclose details of the deal, including the size of stake to be purchased or the agreed price. ViveStudios, based in Seoul, is recognized for its international award-winning virtual reality movie “Volt.” The producer is well known for superb 3D computer-generated images and visual ef

Naver Labs, the research arm of the largest internet company in South Korea, unveiled a solution on Friday at the Seoul Smart Mobility Expo that could support the digitalization of large cities. Dubbed “Alike,” the solution can be used to create “digital twins” of cities, complete with roads and buildings. A digital twin is a virtual representation of a physical object or process that serves as its real-time digital counterpart. By using aerial photography and artifi

One day, Koreans might bid adieu to bulky wooden shoe closets at the entrances of their apartments. Samsung ShoeDresser, a brand new category of home appliance, could replace old closets, changing entirely the way people store and care for their shoes, and also reflecting the importance of the fashion item to millennials. After launching clothing care system AirDresser in 2018, Samsung’s engineers at the consumer electronics unit caught the growing trend of shoe-lovers, which led to t

Samsung Group’s de facto chief Lee Jae-yong attended a court hearing on Thursday as part of an ongoing trial on alleged irregularities surrounding his ascension to the helm of the South Korean tech conglomerate. As always, the tycoon, who is serving a 2 1/2-year jail term over a previous bribery conviction, didn’t utter a single word throughout the full-day session held at the Seoul Central District Court, as his attorneys fought hard to fend off additional convictions. The charge

정부가 국내 대기업 직원들을 대상으로 모더나 코로나-19 백신 접종 수요 조사에 나섰다. 9일 업계에 따르면 최근 고용노동부는 삼성전자 및 전자계열사, SK하이닉스, LG전자 등에 백신 접종 공문을 보냈다. 해당 공문은 규모 있는 제조시설을 운영 중이며 사내병원을 갖추고 있는 국내 주요 대기업을 대상으로 보내진 것으로 파악된다. 대기업 직원들을 대상으로 준비 중인 백신은 미국 모더나 백신인 것으로 알려졌다.  또한 백신 접종이 가능한 특정 연령대 언급은 없는 것으로 전해졌다.  삼성전자에 따르면 광주, 천안 등 지방 사업장에서 관련 공문을 전달 받았으며, 관련 하여 대응 방안은 아직 정해지지 않은 상태다. 반도체 공장이 있는 화성사업장 관계자는 이번 정부 수요 조사 관련하여 확인해줄 수 없다고 전했다. 전자계열사인 삼성전기는 최근 직원들에 백신 접종 신청을 공지한 바 있으며, 이르면 7월말 사내병원을 통한 직원 백신 접종을 준비 중인 것으로 알

The South Korean government is preparing to provide the COVID-19 vaccine from US pharmaceutical company Moderna to employees of some major domestic companies as part of efforts to help normalize their business operations early, according to industry sources Wednesday. The Ministry of Employment and Labor has sent out related guidance to companies including Samsung Electronics and its affiliates, SK and LG Group companies, multiple sources confirmed to The Korea Herald. According to the compan