South Korea

Government wants SAIL to join the Psoco project

Government wants SAIL to join the Psoco project The government wants the state-owned Steel Authority of India Ltd (SAIL) to partner South Korean steel giant, Posco in its proposed $12-billion steel plant in the Indian state of Orissa.

Mr Beni Prasad Verma, the Steel Minister informed Posco officials here on Wednesday that it wants SAIL to become a part of the project, which has faced severe hurdles and delays. Y. W. Yoon, Chairman and MD, Posco India Pvt Ltd has said that he will convey the government's intention to the board of Posco.

Samsung launches Premium Apps for Android app store in the UK

Samsung launches Premium Apps for Android app store in the UKSouth Korean electronics giant, Samsung has launches a new Premium Samsung Apps for Android app store offering paid apps for the customers in the UK.

The company's own-brand paid for app store will also offer in-bill charging to the UK customers. Zenonia, The Sims 3 HD, Need for Speed Shift HD and other such apps will be offered in the premium store.

Google to release Android Ice Cream Sandwich by November

Google to release Android Ice Cream Sandwich by NovemberEric Schmidt, Google's executive chairman has confirmed reports that the new version of the company's Android mobile phone OS, dubbed the Ice Cream Sandwich version will be released by November this year.

While speaking in an interview with SalesForce. com CEO Marc Benioff at the Dreamforce conference, Mr. Schmidt infused excitement in the Android world when he confirmed the release while answering to a question about HTMLl 5.

Hyundai to showcase ix35 FCEV at EcoVelocity show

EcoVelocitySouth Korean automotive giant, Hyundai ha said that it will showcase its new ix35 FCEV though the EcoVelocity show next week in the UK.

The Hyundai ix35 FCEV (Fuel-Cell Electric Vehicle) is a variation on the electric vehicle. It gets power from a clean hydrogen fuel cell that only emits water vapour. The third-generation fuel-cell vehicle claims to run for 360 miles with a single hydrogen fill.

The company claims that the vehicle can go from 0-62mph in just 12.8 seconds and it has atop speed of 100mph. The fuel-cell mechanism is capable of working in temperatures as low as -25 degrees Celsius.

Samsung releases Bada 2.0 for developers

Samsung releases Bada 2.0 for developersSouth Korean electronics giant, Samsung has just released a new version of its Bada smartphone platform for developers, infusing a fresh life to the software.

The Bada 2.0 is now available in SDK form and shows the company's commitment to the platform, which is Samsung's own alternative to the mighty Android and iOS platforms. The company's original wave phone based on Bada has been very successful and displayed the improvements in eh platform.

Samsung launches 3D ad campang for iPads users

SamsungSouth Korean electronics giant, Samsung has launched a new UK only 3D ad campaign to promote its Samsung Galaxy S II smartphone on rival Apple’s iPad tablet computer.

Samsung’ ad agency, Starcom claimed that it will be the first 3D ad campaign on iPads. The ads use a combination of lighting, shading, and motion effects to show the smartphoen from different angles.

The ads are being aired by a mobile ad network that reaches many of Apple’s mobile devices. Meanwhile, Apple has already sued Samsung claiming its line of Galaxy S devices is a copy of iPhone.

LG to quit CRT TV business in South Korea

lg-slim-crtThe Korean Consumer Durable player-LG Electronics recently announced that the company will put a hold to the production of cathode ray tube (CRT) TVs in its home country.

The reason for this sudden decision is the weakening demand of the CRT TVs and an expected future end to analog broadcasting in the country by 2012.

It was 45 years before when LG rolled out its first model of CRT TV under the company's old brand Goldstar.

However the sales of the CRT will be ceased when the stock piles at the domestic retailers is exhausted.

Mahindra signs agreement for Ssangyong

Mahindra signs agreement for SsangyongUnder a major event in the Indian automobile circuit, the Auto major Mahindra & Mahindra recently said it has entered into an agreement to acquire a majority stake in beleaguered South Korean vehicle maker SsangYong Motor Company.

M&M's value down on back of Ssnagyong

M&M's value down on back of SsnagyongEver since Mahindra &Mahindra has attempted to buy Ssangyong Motors, it has seen a decline in its value.

For the last five days, one of the leading makers of passenger and utility cars has witnessed a consistent and large fall in its share valuations for five trading sessions.

On Wednesday, August 11, the share went down by 4.3 per cent.

M&M has been named as the preferred bidder by Ssnagyong for its acquisition. The Korean automakers are under huge burden of debt and has got only 2 per cent market share of the whole Korean automotive sector.

India's Ybrant acquires Lycos from Korean firm

India's Ybrant acquires Lycos from Korean firmYbrant Digital has acquired Lycos Inc from Korean Internet Company, Daum Communications for $36 million. The total money was paid in cash.

The Hyderabad-based company has made this takeover so that it has a stronger footing in the field of digital marketing solutions.

Now priced at $36 million, the price of Lycos when it was bought over by Terra Networks was $13 billion. The price of the company has nosedived since it was first taken over from Spanish telecom giant Telefonica in 2000.

The price that Terra paid for this was $95 million.

Ssangyong takeover to be signed soon: M&M

SsangyongLeading sports utility vehicle maker Mahindra and Mahindra recently said that the company has been chosen as the preferred bidder the cash-strapped South Korean Ssangyong Motors and the company also mentioned that a preliminary agreement will be signed within weeks to take over the bankrupt company.

Mahindra – the preferred bidder for Ssangyong

Mahindra-Ssangyong-MotorUnder a major announcement, the home-grown UV maker Mahindra & Mahindra has recently said that the company has been chosen as the preferred bidder by the beleaguered South Korean vehicle maker SsangYong Motor.

While the company also said that the deal is to be finalised by November this year, it highlighted the fact that the deal will provide a perfect platform for the company to accelerate its growth.

Illegal Data Collection leads to Raids

GoogleGoogle's Korea office was raided after it was reported of being raided for illegally collected user data by the South Korean police.

The search was based on Google "Street View" service data that was reported of being sent out. The raid included seizure of HDDs and other such docs using Street View Cars.

Street View service aids in helping Google Maps and Google Earth with panoramic views of the Earth. It was also stated that the search giant was probed for actions and lawsuits and thus aids in collection of data with cameras over cars.

North Korea threatens to retaliate against South Korea

North Korea threatens to retaliate against South KoreaSouth Korea’s planned naval drill near North Korea’s disputed sea border has been endangered of tough corporal reprisal by the latter’s military.

South Korea has accused North Korea for the death of its forty-six seamen as a result of a South Korean ship sinking and thus naval drills have been arranged for five days in the Yellow Sea by South Korea.

Naval Exercise site shifted by US and South Korea

Naval Exercise site shifted by US and South KoreaSouth Korea and the United States, bowing to pressure from China, have said that they will change the location of a joint naval exercise seen as a warning to North Korea.

Yonhap news agency reported on Thursday that the two countries planned to stage massive naval maneuvers in the Yellow Sea, close to Chinese territory, in a show of military force after North Korea's alleged sinking of a South Korean warship in March.

Cheap and durable touch screen to hit markets soon

Cheap and durable touch screen to hit markets soonA new type of touch screen has been reported that could be less expensive and more durable.

Researchers in South Korea and Japan have claimed that they can make large pieces of graphene films, up to 30 inches long, for touch screen phones and flat panel TVs.

Discovery News has reported that most touch screens in phones are now made with indium tin oxides (ITO).

It has been reported that the ITO's greatest asset is that it's transparent, but it comes with a cost, ITO is exceedingly expensive, because it's made of rare materials.

ANZ says there is still a possibility for KEB bid

ANZAustralia and New Zealand Banking Group said today that it has not ruled out every possibility for making a takeover bid for Korea Exchange Bank, the fifth largest lender in South Korea. The group said that it will make a bid for KEB if it would be on its strategy.

However, ANZ also cleared that it had not given any proposal for KEB. The announcement of ANZ came after the statement of KEB chief executive in which he said that KEB would be a suitable fit in ANZ's strategy.

Deficit reduction must for recovery from global crisis, says G20

Deficit reduction must for recovery from global crisis, says G20G20 finance ministers in South Korea have said that excessive budget deficits should be tackled immediately to ensure continued recovery from the global economic crisis.

Ministers and central bankers meeting in Seoul said that worldwide, the economy has recovered faster than expected from the crisis, but key challenges remain. The meeting on Friday set the agenda for a summit of G20 leaders in Toronto on June 26 and 27.

The ministers said in a statement that countries need to rein in budget deficits and ensure sustainable public finances.

New Smartphone range to be released in S. Korea- Sony Ericsson

sony-ericsson-xperia-x10An entire new range of smartphones from Sony Ericsson will debut in South Korea.

Company's head of the Asia-Pacific region, Hirokazu Ishizuka, aims of reigning Sony Ericsson position via this approach.

At a recent media conference, Isizuka said that Sony Ericsson will form a joint business alliance with Japan's Sony and Sweden's Ericsson that aims to fetch more revenues by offering new products at lower production costs.

Obama planning long-term program to fill major gaps in South Korea’s naval defenses

Obama planning long-term program to fill major gaps in South Korea’s naval defenses   The Obama administration is planning a long-term program to plug major gaps in the South's naval defenses, senior American officials have revealed.

The sinking of the South Korean warship "Cheonan" by North Korea had still left the country vulnerable to surprise attack, they said.

The discovery of the weaknesses in South Korea caught officials in both countries off guard.

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