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Cyber Attacks Caused US$72 bln Losses for S. Korea Firms in 2017: Microsoft

Cyber Attacks Caused US$72 bln Losses for S. Korea Firms in 2017: Microsoft

SEOUL, Jun. 18 (Korea Bizwire) — The South Korean branch of U.S. tech giant Microsoft Corp. released a report on Monday which claimed cyber attacks caused direct and indirect losses of US$72 billion last year for local companies. The report announced by Microsoft Korea and Frost & Sullivan claimed that around 90 percent of such [...]

‘GandCrab’ Ransomware Spreads in S. Korea

‘GandCrab’ Ransomware Spreads in S. Korea

SEOUL, May 18 (Korea Bizwire) — Ransomware called “GandCrab” has recently surged through emails in South Korea, industry sources said Friday. GandCrab, which first appeared in January overseas, sends a malicious URL through emails for a ransom note demanding a payment in cryptocurrency. Ransomware refers to malware that locks up files on a computer with [...]

Big Data, Drones to Safeguard Forests

Big Data, Drones to Safeguard Forests

SEOUL, May 16 (Korea Bizwire) — Drones have been gaining popularity in their application for a wide range of industries, including agriculture and manufacturing. They have become more reliable and capable of different tasks as technology has advanced. The Presidential Fourth Industrial Revolution Committee announced the establishment of an ‘Intelligence-based Forestry Disaster Management Strategy’ on [...]

LG Acquires Shares in S. Korean AI Startup Acryl

LG Acquires Shares in S. Korean AI Startup Acryl

SEOUL, May 2 (Korea Bizwire) — LG Electronics Inc. said Wednesday that it has invested 1 billion won (US$934,000) in the South Korean startup Acryl, which specializes in the development of artificial intelligence technologies. Under the deal, LG acquired a 10 percent stake, or 336,000 shares in the venture firm. Established in 2011, Acryl focuses [...]

LG Electronics to Bolster LED Lighting Product Portfolio

LG Electronics to Bolster LED Lighting Product Portfolio

SEOUL, Apr. 30 (Korea Bizwire) — LG Electronics Inc. said Monday it aims to expand its light-emitting diode (LED) lighting product portfolio by releasing products that emit less blue light, which is easier on the human eye. The South Korean consumer electronics giant has showcased 14 different new products for commercial use under the brand [...]

LG, Samsung Refrigerators Named Most Kid-friendly by Consumer Reports

LG, Samsung Refrigerators Named Most Kid-friendly by Consumer Reports

SEOUL, Apr. 23 (Korea Bizwire) — South Korean-made refrigerators were named among the most kid-friendly fridges by a U.S. consumer advocacy magazine after a survey of parents, companies said Monday. Consumer Reports announced five “Kid-friendly Refrigerators That Please Parents,” a list which includes two models from LG Electronics and one from Samsung Electronics. The two [...]

Microsoft’s Cloud Computing Sales Triple in 2017

Microsoft’s Cloud Computing Sales Triple in 2017

SEOUL, March 20 (Korea Bizwire) – Microsoft Korea, the local unit of U.S. software giant Microsoft Corp., said Tuesday that sales of its open cloud computing platform Azure rose nearly three-fold in one year. Microsoft opened two data center regions in South Korea for Azure in February 2017, one in Seoul and another in the southern port city of Busan. The company’s data center regions are large complexes that [...]

800,000 Jobs to be Lost by 2030 Due to Fourth Industrial Revolution: Study

800,000 Jobs to be Lost by 2030 Due to Fourth Industrial Revolution: Study

SEOUL, March 8 (Korea Bizwire) – About 800,000 jobs are expected to be lost by 2030, in such areas as retail sales, driving, shipping and cleaning, due to technological advances driven by the fourth industrial revolution, a study showed Thursday. But the revolution is expected to create 920,000 more jobs in information and communication technology, engineering, healthcare, culture and arts, and other areas, the labor ministry study conducted jointly by state and civilian research institutes showed. The [...]