Seoul, March 15 : Samsung Electronics, South Korea's tech behemoth, Friday appointed new chief executive officers.
Samsung named President Yoon Boo-keun and President Shin Jong-kyun as new CEOs following the company's annual general shareholders' meeting, according to an e-mailed statement.
Yoon, who solidified the company's global leadership in TV business, will continue his role of overseeing the consumer electronics division as new CEO. The division includes TV and appliance products, reported Xinhua.
Seoul, March 15 - Samsung Electronics, the world's largest maker of memory chips, mobile phones and display panels, Friday unveiled its new flagship smartphone Galaxy S4.
Galaxy S4 features a 5-inch Full HD Super AMOLED display with a resolution of 1920 by 1080. It has a pixel density of 441 pixel per inch (ppi), reported Xinhua.
It comes with a "dual camera" function that allows simultaneous use of both front and rear cameras. Users can select eight different ways to combine the two photos taken by both cameras.
Seoul, March 14 : South Korea's central bank Thursday kept its policy rate on hold at 2.75 percent, maintaining the wait-and-see stance for five straight months, media reports said.
Bank of Korea (BOK)'s monetary policy board members decided to freeze the seven-day repurchase rate at 2.75 percent after cutting the rate by 25 basis points in July and October last year, reported Xinhua.
The decision was roughly in line with market expectations, as many experts predicted the rate freeze on speculation that the central bank would wait for fiscal stimulus measures to maximize the effect of policy mix.(IANS)
Global mobile gaming business of Reliance Big Entertainment, Reliance Games has acquired tow gaming firms in Japan and South Korea in order to expand its international presence. Reliance Games, which is a part of the ADAG, acquired mobile game development & publishing company in Japan and a mobile game development studio in South Korea.
Seoul, March 6 : The South Korean military warned Wednesday that it will "sternly" retaliate against North Korea if it "pushes ahead with provocation", reported Xinhua.
"If the North pushes ahead with provocation that will threaten life and stability of our nation, our military will strongly and sternly punish the starting point of provocation and supporters for the provocation as well as its leadership," the Ministry of Defense said in a statement read by Kim Yong-hyun, Army Maj. Gen. at the Joint Chiefs of Staff.
Seoul, March 4 : LG Electronics said Monday that it has sold more than 10 million smartphones based on the high-speed long-term evolution (LTE) technology.
LG's global LTE smartphone sales topped the 10 million mark last week as the company made an aggressive push into the fast- growing fourth-generation (4G) market, according to an e-mailed statement.
The result came as the LTE smartphone market is expected to grow rapidly. According to Strategic Analytics, global shipments of LTE smartphones are forecast to increase to 275 million units this year, reported Xinhua.
South Korean conglomerate, LG might be planning to launch the new Optimus G smartphone in the Indian market today.
Several reports suggest that the company will launch the new smartphone on February 27. The company confirmed reports by announcing that it would launch the "Next Gen Genius" smartphone in Mumbai. Some suggest that the new LG Optimus G is already listed on the official LG India website, which also reveals that the handset will be available in states including Delhi, Maharashtra, Punjab, Tamil Nadu and Uttar Pradesh.
Seoul, Feb 27 : Bank lending rates in South Korea rebounded in January from a record low level as demand for mortgage loans reduced amid the end of temporary tax benefits for housing transactions, central bank data showed Wednesday.
Weighted average annual rate for new loans extended by banks to households and companies was 5 percent in January, rebounding from an all-time low of 4.84 percent in the prior month, according to the Bank of Korea (BOK).
Seoul, Feb 27 : South Korea's e-commerce sales grew for at least 12 years as cyberspace transactions between companies kept an upward trend, a government report showed Wednesday.
E-commerce sales, gauging transactions in the cyberspace, was 1,144.7 trillion won ($1.06 trillion) in 2012, up 14.5 percent from a year earlier, according to Statistics Korea. The reading maintained a growth trend since at least 2001, reported Xinhua.
Business-to-business (B2B) sales, which account for more than 90 percent of the total, increased 15.1 percent last year, with consumer-to-consumer (C2C) transactions surging 20.6 percent.
Seoul, Feb 26 : South Korea's overseas direct investment fell for the first time in three years as people refrained from investing into overseas mining projects amid global uncertainties.
Reported direct investment overseas declined 14.3 percent from a year earlier to $39.01 billion in 2012 after rising 32.5 percent in 2011 and 11.7 percent in 2010, the Ministry of Strategy and Finance said Tuesday.
Seoul, Feb 25 : Park Geun-hye was sworn in as South Korea's first female president Monday, pledging economic revival and educational system overhaul and urging North Korea to rid itself of its nuclear programme.
"The new administration will usher in a new era of hope premised on a revitalizing economy, the happiness of our people, and the blossoming of our culture," Park said in an inauguration speech delivered to some
70,000 people gathered in front of the country's parliament for the ceremony.
Seoul, Feb 24 : India has assured the South Korean business community they would continue to get hassle-free visas within three days ordinarily and the same day if business was urgent.
Speaking on the sidelines of a tourism road show in Seoul, organised by the India Tourism office in Tokyo, Indian Ambassador Vishnu Prakash gave the assurance to the Korean industry while explaining bilateral steps taken towards simplified visa procedures.
Seoul, Feb 15 : Sales of LG Electronics' Optimus L Series smartphones topped 15 million units globally since its introduction in February 2012, the company said Friday.
Global sales of Optimus L Series devices breached the 10 million mark in December last year, before adding sales of 5 million units, equal to sell a device every second over the past two months, LG said in an e-mailed statement.
After its launch at Mobile World Congress (MWC) in February 2012, LG rolled out Optimus L3, L7, L5, and L9 in a serial order at around 50 countries in North America, Europe, Asia and Latin America, reported Xinhua.
Seoul, Feb 12 : The South Korean government condemned the nuclear test by North Korea Tuesday, calling it a "clear violation" of UN resolutions. The South Korean military was put on high alert.
"North Korea will not be able to avoid being held accountable for (the test)," national security adviser Chun Yung-Woo told reporters after an emergency security meeting presided over by President Lee Myung-bak.
The nuclear test, which North Korea claimed was successful, was carried out at 11.57 a. m. in North Korea's Kilju county, North Hamkyung province.
South Korea has joined the elite club of nations with capabilities to launch satellites with the launch of a satellite into orbit on Wednesday.
The Asian country launched satellite into orbit for the first time less than two months after its northern rival North Korea, launched its own satellite. The country developed the 140-ton, 108-feet tall Korea Space Launch Vehicle-1, or KSLV-1 with the help of Russian space technology.
Seoul, Jan 30 : South Korea on Wednesday successfully launched its space rocket in its third attempt to put a satellite into space.
The Korea Space Launch Vehicle-1 (KSVL-1), also known as Naro, blasted off at 4 p. m. local time from the Naro Space Center, located 480 kilometers south of Seoul.
The rocket, with a Russian-built first stage and a South Korean-developed second stage, appears to have reached its target altitude and deployed its payload satellite, local media reported.
In an official substantiation of the fact that 2012 was a good year for Samsung, the recently-released fourth-quarter financial results of the South Korean company have revealed that its net profit figures touched a record high with 7.04 trillion won ($6.6 billion); a figure which was a whopping 76 percent higher than the company's net profit during the same quarter a year back.
Seoul, Jan 25 : Samsung Electronics' fourth-quarter operating profit hit a new high helped by solid Galaxy smartphone sales and improved earnings in semiconductor business.
Operating profit was 8.84 trillion won ($8.26 billion) in the three months ended December, nearly double from a year earlier, the company said in a regulatory filing Friday.
It was the highest in its history, and posted the record-breaking earnings for five straight quarters. The reading was in line with the preliminary figure estimated by Samsung, reported Xinhua.
In an innovation which marks a notable advance in the direction of flexible smartphones, researchers in South Korea have revealed that they have discovered the secret to flexible, shape-conforming lithium ion (Li-ion) batteries.
According to a Tuesday report by Yonhap News Agency, researchers from the Ulsan National Institute of Science and Technology - in collaboration with nine other scientists from foreign institutes - have been successful in developing a new rechargeable battery technology which uses nanomaterials.
South Korean electronics giant, Samsung Electronics has achieved a new milestone by crossing the 100 million mark for its Galaxy S series smartphones.
The company wrote on its Tomorrow Flickr page that the Galaxy S series crossed the 100 million threshold in 2 years and 7 months mark since the launch of Galaxy smartphone in May 2010.