SEOUL, Sept. 23 (Korea Bizwire) – SM Entertainment has filed a suit against Tao, an ex-member of the group EXO, and the Chinese production company that enabled his illegal activities. SM announced that the suit it filed against Tao and a Chinese album production company at a Beijing court in China had been officially submitted. The [...]
SEOUL, Sept. 23 (Korea Bizwire) - With suspicious IDs turning up in large quantities on music sites, industry watchers are expressing concern that sales charts are being manipulated. Questions over entertainment companies purchasing songs in bulk have been stirring since 2012. But after thousands of IDs with serial numbers of a similar pattern were found [...]
SEOUL, Sept. 23 (Korea Bizwire) — South Korea’s No. 2 mobile carrier KT said Wednesday it plans to invest 13 trillion won (US$10.9 billion) until 2020 to find new sources of profits and tap deeper into the intelligent industry. Under the plan, KT will establish the Intelligent GiGA Infra, which connects the latest technologies, including [...]
SEOUL, Sept. 23 (Korea Bizwire) — Daum Kakao, the operator of South Korea’s most popular mobile messenger KakaoTalk, renamed itself and appointed a new chief executive officer on Wednesday, marking a turning point almost a year after its merger. At an emergency meeting, shareholders approved plans to rename itself Kakao and appoint nominee Rim Ji-hoon [...]
SEOUL, Sept. 23 (Korea Bizwire) — South Korea’s top mobile carrier SK Telecom said Wednesday it has agreed to cooperate with Samsung Electro-Mechanics on a power-efficient network technology utilized for Internet of Things (IoT) products. Under the deal, SK Telecom and Samsung will develop the Low Power Wide Area Networks (LPWAN) technology, which allows long-range communication with less energy [...]
SEOUL, Sept. 22 (Korea Bizwire) – Large general agencies (GAs) are expanding their sales power, employing more than 100,000 financial consultants and surpassing 10 percent market share. However, their cases of incomplete sales of insurance went up slightly. The Financial Supervisory Service (FSS) announced that as large GAs with more than 500 financial consultants are increasing [...]
SEOUL, Sept. 22 (Korea Bizwire) – The prime suspect in a famous unsolved murder that occurred at a fast food restaurant in Itaewon, Seoul, will be extradited to Korea after 16 years on the run. The Ministry of Justice announced that Arthur Patterson, who is suspected of stabbing a college student in the restroom of [...]
SEOUL, Sept. 22 (Korea Bizwire) — The 700-year journey of the statue of Buddha, which started in India where Buddhism was born, up to the point where it blossomed in the far east in Korea, will be summed up in one exhibit. To celebrate the 10th anniversary of its move to Yongsan, the National Museum [...]
SEOUL, Sept. 22 (Korea Bizwire) – The Ministry of Public Safety and Security (MPSS) announced that it will re-start Children’s Safety Classes in which the MPSS will visit children in Yongin starting October 2. The classes were stopped due to the outbreak of Middle East Respiratory Syndrome (MERS), but will resume next month. Starting in Yongin, the classes [...]
SEOUL, Sept. 22 (Korea Bizwire) – It has been pointed out that in order to continue the growth of domestic startup businesses, the ‘exit (investment collection) market’ should be activated. Kim Ju-wan, a consulting partner at McKinsey & Company, stated that the domestic startup ecosystem has entered a typical vicious cycle, at a debate entitled ‘The [...]