Samsung Electronics has recently renamed the project name of its upcoming foldable smartphone “Winner,” ditching the previous “Valley” that it has used since 2015, according to local news outlet The Bell on May 4. Citing unnamed industry sources, the report said Samsung has recently informed suppliers to start sup...
Coupang, one of Asia’s largest eCommerce companies, on Dec. 28 said that it added video streaming as its latest offering to WOW members with the launch of Coupang&
Naver Cloud and GS Global will collaborate on their overseas services, the companies said on Dec. 1. The new alliance with GS Global gives Naver Cloud a channel to liaise with large-scale corporate clients in target countries, while GS Global will gain an opportunity to expand into the information technology business, they said. “Naver Cloud has the most global region services among cloud platforms developed by Korean firms,” said Park Won-ki, CEO of Naver Cloud. “It h
Apple Korea announced on Nov. 30 that it would open its second South Korean store in Yeouido, the financial district in northwestern Seoul, as part of a strategy to expand its sales and services in the country. Although the Seoul branch didn’t reveal an official date for the opening of the new Apple Store, the second shop is likely to open within the year. The second Apple Store of the global tech giant will be located in the first basement floor of the IFC Mall in Yeouido. Apple
Netmarble on Nov. 18 that launched its massively multiplayer online role-playing game Seven Knights 2 in Korea, drawing attention to whether the much-anticipated game will be able to compensate for the company’s lackluster performance in the third quarter. As a sequel of Seven Knights, launched in 2014, Seven Knights 2 continues on the plot lines of the previous work and offers a story that players can consume like a movie. The mobile MMORPG showcases 46 heroes, and players control
Kakao said on Nov. 18 that it would add a digital wallet feature to South Korea’s largest messenger application KakaoTalk. The company will also start introducing new subscription-based services via the messenger application. Kakao’s co-CEOs Yeo Min-su and Cho Soo-yong introduced new features that are to be added to KakaoTalk during an online press conference held as part of the company’s annual conference, which runs from Wednesday to Friday. The digital wallet feature wo
Kakao, the operator of South Korea’s largest mobile messenger platform, announced on Nov. 5 that the company had posted record-high sales and operating profit in the third quarter this year. The company’s sales in the three-month period reached 1.1 trillion won ($973.38 million), up 41 percent on-year, according to the company’s regulatory filing Thursday. Its operating profit during the same period rose 103 percent on-year to 120.2 billion won, the company added.
South Korea‘s internet giant Kakao is planning to issue $300 million worth of exchangeable bonds to accumulate the dry powder for its future mergers and acquisitions activities, the company said in a filing on Oct. 22. The US dollar-denominated exchangeable bonds will be issued privately on Oct. 21 on the Singapore Exchange. Investors in the hybrid securities will be offered straight bonds with zero interest. Once the bonds mature in April 2023, the hybrid security investor wi
South Korea‘s antitrust regulator on Oct. 6 imposed a 26.7 billion won ($22.9 million) fine on Naver, accusing the company of manipulating search algorithms to favor its own online shopping business. Naver, in response, said the company will appeal the accusation and the fine, a record-high amount imposed on a platform operator in South Korea. According to the Fair Trade Commission‘s announcement, Naver made changes in search algorithms to have products or services sold by