September 21, 2018

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KT ties up with firm behind Apple’s Siri for car infotainment systems

[THE INVESTOR] Telecommunications firm KT said on Sept. 21 that it has partnered with Nuance Communications, a German company behind Apple’s mobile assistant Siri, to develop in-vehicle voice recognition solutions tailored for the Korean market.Nuance is one of the leading speech recognition software developers, offering its solutions to global tech companies as well as automotive companies, including BMW, Audi, Mercedes-Benz, Hyundai Motor and Toyota Motor.  Choi Kang-rim (left), head of KT’s c

Samsung unveils triple-lens smartphone Galaxy A7

[THE INVESTOR] Samsung Electronics on Sept.20 unveiled the Galaxy A7, its first smartphone with a triple-lens camera system. The rear-facing camera and the high-resolution 24-megapixel selfie shooter will be some of the killer features of the phone, according to the Korean tech giant.The Galaxy A model sports a 24M standard lens, a bokeh lens that alters depth of field, and a 120-degree super wide-angle lens. A fingerprint scanner of the phone is what sets the device apart from other Samsung pho

Parliament passes bill easing regulations on internet-only banks

[THE INVESTOR] Korea’s National Assembly passed a controversial bill on Sept. 20 allowing non-financial companies to own up to 34 percent stake in internet-only banks, raising it from the current cap of 4 percent. Korea’s two internet-only banks -- K bank and Kakao Bank -- both launched last year, are expected to accelerate their growth which has been hampered by the ownership ceiling because their two biggest shareholders, KT and Kakao, respectively, are unable to buy new shares in the rights o

SKINFOOD CEO to sell stake amid suffering biz

[THE INVESTOR] SKINFOOD CEO Cho Yoon-ho is seeking to sell his majority stake in the Korean budget cosmetics brand to a strategic investor before its valuation falls further, according to industry sources on Sept. 20.Currently, Cho is the largest stakeholder with 77.28 percent stake, while the remaining stocks are owned by his family.The company has been denying speculations, but many industry watchers are projecting that SKINFOOD may shut shop due to its poor financial condition. Although, it s

Samsung to sell diagnostic device unit to Japanese firm

[THE INVESTOR] Samsung Electronics plans to sell one of its units that produces medical diagnostic devices to a Japanese health care device manufacturer, according to sources on Sept. 20.Nipro, the No. 2 dialysis device manufacturer in the world, signed a letter of intent to acquire a in-vitro diagnostic device division of the Korean firm with a plan to close the deal by the end of this year, according to a Samsung official. The Osaka-headquartered company has been supplying reagents to Samsung 

Macquarie Korea wins battle with Platform over infrastructure fund

[THE INVESTOR] An attempt to oust Macquarie Korea Asset Management from operating Macquarie Korea Infrastructure Fund, the only listed infrastructure fund in Korea, has failed. On Sept.19, the fund’s shareholders voted to retain Macquarie Korea Asset Management -- the Korean unit of the Australian financial group -- as fund manager. The failed ouster has been referred to as the first instance of shareholder activism by a Korean company targeting an overseas firm. Among the shareholders who held

SparkLabs launches accelerator program for cybersecurity, blockchain startups

[THE INVESTOR] SparkLabs Group, a network of accelerators and venture capitals funds, said on Sept. 19 it is launching a new global accelerator program focused on cybersecurity and blockchian startups in Washington, D.C.The latest accelerator group in Asia already operates in Korea, China, Taiwan, Hong Kong and Australia. They recently launched an energy-focused accelerator in Oman and are now expanding into the US for the first time. SparkLabs Cybersecurity + Blockchain will be led by two seaso

Samsung selects Smitomo as screen film supplier for foldable Galaxy

[ETNEWS] Sumitomo Chemical, a Japanese electronic materials firm, has been picked as the sole supplier of polyimide, or PI, films for Samsung Electronics’ first foldable smartphone, beating other rivals including Kolon Industries, according to sources on Sept. 19.PI, a transparent plastic film that protects the display placed underneath, is considered a core component of foldable smartphones for its flexibility as well as durability.Samsung’s first foldable smartphone, tentatively named Galaxy F

Reserve aims for crown in stable-value cryptocurrency sector

[THE INVESTOR] Price volatility has been pointed out as one of the biggest hurdles for cryptocurrencies to go mainstream. Stablecoin, a type of virtual currency with price stability, was created to eliminate the highly unstable characteristics of digital coins.Tether, whose value is pegged to the US dollar, is one of the best known stablecoins in the market. It has been, however, criticized for its opaque operations as the team has failed to successfully fulfil audits to prove they have actual U

Jeju Gov. reaffirms plan to legalize ICOs

[THE INVESTOR] Jeju Special Self-Governing Province Gov. Won Hee-ryong said on Sept. 18 that he would continue to make efforts to allow initial coin offerings although the central government banned them last year.“Speculative investments and money laundering schemes are not essential parts of blockchain and cryptocurrencies,” he said at the Blockchain Seoul conference. “People should pay attention to the token economy’s potential as there will be significant changes to the conventional economy a

Samsung may ditch J brand to focus on A

[ET NEWS] Samsung Electronics is revamping its budget phone lineup, ditching the cheaper J brand, according to industry sources on Sept. 18. “Samsung is considering combining J and A brands to further strengthen the A series whose brand awareness has greatly improved in recent years,” a source told ET News on condition of anonymity.  Galaxy AThe A series is Samsung’s mid-tier brand that features some high-end functions of the flagship S series or Note despite its cheaper price tag. The J brand i

Celltrion clears manufacturing woes raised by FDA

[THE INVESTOR] Celltrion said Sept. 16 that the US Food and Drug Administration has given its OK to the Korean biopharmaceutical firm’s manufacturing facility after re-inspection, clearing a year-long problem that hampered the approval of its biosimilar products. The FDA classified the firm’s production site in Incheon as “voluntary action indicated,” in an Establishment Inspection Report, which summarizes its findings after inspection in July. The status means that “objectionable items were fou

SKINFOOD CEO to sell stake amid suffering biz

Samsung to sell diagnostic device unit to Japanese firm

Samsung unveils triple-lens smartphone Galaxy A7

Macquarie Korea wins battle with Platform over infrastructure fund

Samsung Galaxy Note 9 tops European consumer ratings

Apple picks LG as new OLED supplier for iPhones

LG collaborates with BTS to promote latest products overseas

Most Korean websites, O2O apps vulnerable to security breaches

Monthly Kakao Pay transactions to surpass W2tr

Kakao Games calls off IPO

KT signs MOU with Vietnam’s Hoa Binh Construction

[EQUITIES] ‘Samsung C&T frees itself from governance, overhang issues’

[EQUITIES] ‘Doosan Bobcat remains solid in Q3’

[EQUITIES] ‘Hanon Systems to be boosted by acquisition’

FSC to grant 2 online bank permits next year

Hanwha Energy, Korea Midland Power to develop US solar plant

Hyundai, Kia earn top IIHS safety ratings

Hankook Tire to supply tires to Nissan’s Altima sedan

Hyundai to provide 1,000 fuel cell trucks to Swiss company

Between, RockQ to run karaoke bar for couples

Buzzvil acquires No.1 lockscreen app in India, Pakistan

Bon Angels invests in tech edu firm Inflab

Naver invests in Malaysia-based e-commerce platform iPrice

Why birth order is a big deal at LG

New thinking needed on GM Korea

Fall of the ‘Angel of Death’?

Wherever you end up going