SEOUL, Dec. 28 (Korea Bizwire) – The speed of WiFi-connected Internet services have become faster this year thanks to improved equipment, especially in subway stations, government data showed Wednesday. The average downloading speed using WiFi networks across the nation stands at 144.73 megabits per second this year, up 57.5 percent from 91.87 Mbps in 2015, [...]
GUNPO, South Korea, Dec. 28 (Korea Bizwire) – The chairman of a South Korean robotics company, which recently grabbed media attention by building a giant manned robot, said Wednesday the company aims to unveil a shape-shifting “Transformers-style” electric vehicle next year. Yang Jin-ho, the 45-year-old chairman of Hankook Mirae Technology, said his childhood dream of [...]
SEJONG, Dec. 28 (Korea Bizwire) – South Korea’s antitrust watchdog on Wednesday slapped U.S. mobile phone chipmaker Qualcomm Inc. with a record fine of 1.03 trillion won (US$853.1 million) for abusing its dominant position in the mobile communications market. The Fair Trade Commission (FTC) said the San Diego-based company and its two affiliates breached the [...]
SEOUL, Dec. 28 (Korea Bizwire) – Global chipmakers are racing to boost their production capacity of NAND flash memory chips used in mobile devices, driven by a rebound in demand for smartphones and data-storage devices. After volatile price swings in recent years, semiconductor manufacturers are expected to benefit from a global upswing in prices for [...]
SEOUL, Dec. 28 (Korea Bizwire) – About 300 office workers of embattled Daewoo Shipbuilding & Marine Engineering Co. (DSME) will go on a month-long unpaid leave in January as part of efforts to cut costs, sources said Wednesday. They will be the first batch of DSME’s 4,700 desk-job employees who will take turns on unpaid [...]
SEOUL, Dec. 28 (Korea Bizwire) – A vacuum cleaner with improving robotic options manufactured by Samsung Electronics Co. has been named one of the best vacuum cleaners of the year by a U.S. consumer magazine, according to the magazine Wednesday. The Powerbot of Samsung was listed as one of the eight best vacuum cleaners in [...]
SEOUL, Dec. 28 (Korea Bizwire) – Overseas units of South Korean companies lost money in 2015 for the first time since the global financial crisis due mainly to a slowdown in global demand, a report said Wednesday. About 6,000 wholly owned subsidiaries in foreign countries registered an average net loss of US$700,000 last year, the [...]
SEOUL, Dec. 27 (Korea Bizwire) – The Samsung Fashion Institute announced Tuesday its selection of the top ten issues in Korea’s fashion industry this year. The list included several changes in the industry as well business and consumption trends, but it was marked by the stagnant industry’s struggle to survive instead of focusing on growth. [...]
INCHEON, Dec. 27 (Korea Bizwire) – The Ministry of Oceans and Fisheries announced Tuesday a new development plan for the Port of Incheon, which involves investment of 9 trillion won ($7.45 billion) to transform the port city into a global center for logistics and marine tourism. Incheon’s port currently ranks fourth in South Korea in [...]
NONSAN, South Korea, Dec. 27 (Korea Bizwire) – Seodang were traditional Korean village schools that provided elementary and sometimes secondary education. Their roots go all the way back to the Goguryeo Kingdom (37 BC – 668 AD), but they were of greatest importance during the Goryeo (918 – 1392) and Joseon (1392 – 1897) dynasties. [...]