PYEONGCHANG, South Korea, March 14 (Korea Bizwire) – KT Corp., South Korea’s biggest Internet service provider, plans to offer a trial service of its fifth-generation (5G) mobile network via self-driving buses and drone deliveries at next year’s Winter Olympics, company officials said Tuesday. KT is gearing up for the 5G trial service as PyeongChang will [...]
SEOUL, March 14 (Korea Bizwire) – KT&G Corp., South Korea’s largest tobacco product manufacturer, said Tuesday it posted solid profitability last year due to growing demand abroad despite falling domestic consumption. The company said its sales rose to 2.96 trillion won (US$2.57 billion) in 2016, up from 2.82 trillion won in the previous year. The [...]
SEOUL, March 14 (Korea Bizwire) – Many U.S. exporters and importers believe the free trade agreement (FTA) between South Korea and the United States not only helped keep their business growing but also improved their products and services, a report showed Tuesday. In recent interviews with the U.S. office of the Korea Trade-Investment Promotion Agency [...]
SEOUL, March 14 (Korea Bizwire) – South Korea has again topped a ranking of countries in terms of Internet connection speed, according to a quarterly survey released Tuesday. South Korea’s average Internet connection speed stood at 26.1 Mbps during the fourth quarter of last year, marking the only country with a speed of over 25 [...]
SEOUL, March 14 (Korea Bizwire) – The combined market capitalization of South Korean stocks held by foreigners has exceeded 511 trillion won (US$445 billion), hitting an all-time high, data showed Tuesday. Foreigners have purchased a net 4.22 trillion won worth of shares here this year alone, helping drive up the benchmark index KOSPI to 2,117.59 [...]
SEOUL, March 13 (Korea Bizwire) – Award-winning Korean filmmaker Hong Sang-soo on Monday publicly admitted to being in a relationship with actress Kim Min-hee for the first time since media speculations on their relationship emerged last June. “I don’t know if this is the right place to unveil this, but we’re in love. We truly [...]
SEOUL, March 13 (Korea Bizwire) – The chief of logistics conglomerate Kumho Asiana Group claimed on Monday that creditors of the group’s tire-making affiliate should allow him to set up a consortium to buy Kumho Tire Co. back. Kumho Tire was placed under a creditor-led workout program in 2009, after its parent company Kumho Asiana [...]
SEOUL, March 13 (Korea Bizwire) – The United States will deploy an unmanned attack aircraft to its military unit in South Korea to enhance its strike capabilities against ground targets in North Korea, a military official said Monday. “The U.S. Army has begun the process to dispatch a squadron, which will operate the Grey Eagle [...]
SEOUL, March 13 (Korea Bizwire) – Samsung Electronics Co. is believed to have conducted the final stage of wireless communication tests for its upcoming Galaxy S8 flagship phone in South Korea, an industry source said Monday. A model number of “SM-G950F,” believed to be one of the S8 variants under test in the Korean market, [...]
SEOUL, March 13 (Korea Bizwire) – Hyundai Samho Heavy Industries Co., a mid-sized shipbuilder here, recently sold a semisubmersible rig obtained from a Norwegian shipping firm through a compromise arrangement, for US$370 million, industry sources said Monday. According to the sources, Hyundai Samho sought arbitration over Seadrill’s cancellation of the rig order, and both sides [...]