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South Korea’s leading mobile carrier SK Telecom is facing mounting fallout from a recent hacking incident, with more than 70,000 users switching to rival providers in just two days after the company began offering free USIM card replacements. Amid growing concerns that the data breach could spill over into the financial sector, South Korean financial authorities on Wednesday launched an emergency response team and tightened security protocols. According to industry sources, 35,902 SK Telecom use
LG Energy Solution said Wednesday it turned a profit in the first quarter, with aggressive measures to improve cost efficiency amid rising uncertainty in the US tariff policies. According to the company’s earnings release, its sales revenue and operating profit rose 2.2 percent and 138.2 percent to 6.26 trillion won ($4.38 billion) and 374.7 billion won, respectively, in the first quarter of this year. Its operating profit margin improved by 9.5 percentage points from the previous quarter, reach
Soop has partnered with esports organization T1 to launch a brand advertising campaign featuring League of Legends world champion Lee "Faker" Sang-hyeok, the Korean streaming platform announced Wednesday. Soop, formerly AfreecaTV, has been strengthening its platform competitiveness by launching global services and exploring new business areas such as artificial intelligence. T1 players have for years showcased their gameplay and communicated with viewers by livestreaming on Soop. In particular,
As Apple's foldable iPhone development gains momentum, Samsung Electronics finds itself facing more complex strategic situations. For Samsung, which has led the foldable smartphone market so far, the US archrival's entry represents both an opportunity to expand the market and the prospect of fierce competition over market share. For its sister firm Samsung Display, expectations are rising as it is set to exclusively supply foldable panels to Apple. According to industry sources on Wednesday, App
Samsung Display said Tuesday that it has unveiled a new brand identity for its quantum dot organic light-emitting diode technology, and is preparing to file a trademark application for it. The brand identity visualizes the letter “Q” from QD-OLED, incorporating a blue hue representing the blue OLED material and a gradient that symbolizes the technology’s expansive color spectrum. First introduced in late 2021, QD-OLED technology has been recognized for delivering superior picture quality compare
LG Energy Solution said Tuesday it is poised to establish a joint venture for electric vehicle battery recycling in France with Derichebourg, a local environmental services company, marking South Korea’s first recycling joint venture in Europe. The new recycling plant, set to be built in the Val d’Oise region of northern France, will start construction next year and become fully operational by 2027. Its annual capacity to process used batteries is expected to be more than 20,000 metric tons. The
Korean battery maker Samsung SDI announced Monday that it will participate in InterBattery Europe 2025, to be held in Munich, Germany, as part of its effort to strengthen its presence in the region’s rapidly growing energy storage market. The exhibition, a part of Europe’s largest energy industry gathering, The Smarter E Europe, will host around 200 companies and run from June 7 to 9. As Europe’s data center energy demand is projected to triple between 2024 and 2030, Samsung SDI plans to showcas
Korean IT solutions provider LG CNS said that on Monday, it achieved its highest-ever first-quarter sales and operating profit, driven by the accelerating adoption of cloud and artificial intelligence solutions across industries. Its first-quarter sales reached 1.21 trillion won ($840 million), an increase of 13.2 percent compared to a year earlier. Operating profit came in at 78.9 billion won, up 144.3 percent from a year ago. The IT solutions provider said its sales have continued to grow stea
As Google seeks regulatory approval to export high-precision map data from Korea, local IT giants Naver and Kakao are ramping up their efforts to reinforce their map services -- both in functionality and user experience -- in a strategic push to defend their home turf. “Google appears to be taking an aggressive stance. Coupled with the trade tensions sparked by the Donald Trump administration in the US, the situation has become challenging for local companies. Domestic map application developers
SK Telecom Chief Executive Officer Ryu Young-sang apologized Friday for the recent hacking incident involving the partial leakage of customers' universal subscriber identity module information, pledging to reinforce security measures and replace all customers’ USIM cards. “We sincerely apologize to our valued customers and the public for the significant concern and inconvenience caused by this incident,” Ryu said in a press conference at the company’s headquarters in central Seoul. “As an additi
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