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SK Telecom’s Q4 Net Jumps 39.1 pct on Increased Competitiveness in Internet Businesses

SK Telecom’s Q4 Net Jumps 39.1 pct on Increased Competitiveness in Internet Businesses

SEOUL, Feb. 5 (Korea Bizwire) — South Korea’s top mobile carrier SK Telecom Co. said Monday its fourth-quarter net profit rose 39.1 percent from a year earlier due mainly to increased competitiveness in Internet businesses. Net income reached 660.6 billion won (US$606 million) in the October-December period, compared with a profit of 474.7 billion won [...]

SKT Unveils ‘Igloo’ Packed With Latest Technology at Seoul City Hall

SKT Unveils ‘Igloo’ Packed With Latest Technology at Seoul City Hall

SEOUL, Jan. 29 (Korea Bizwire) — SK Telecom has unveiled an air dome ‘igloo’ at Seoul’s City Hall ahead of the 2018 PyeongChang Olympics, bringing snow drifts and snowball fights to the heart of the South Korean capital. Packed with the latest IT technology including 5g networks and virtual reality, the major telecom provider’s entertainment-packed venue [...]

Government Offers Mobile Carriers Discounts for 5G Frequency Band to Encourage Price Cuts

Government Offers Mobile Carriers Discounts for 5G Frequency Band to Encourage Price Cuts

SEOUL, Jan. 23 (Korea Bizwire) — The government will offer telecom providers discounted prices for the use of 5G frequency bands in a move to encourage data plan price cuts. The Ministry of Science and Technology announced plans on Sunday to push through with reforms to the radio waves act, laying the legal groundwork for incentives [...]

Big Wave of M&A Activity in South Korean IT Industry

Big Wave of M&A Activity in South Korean IT Industry

SEOUL, Jan. 19 (Korea Bizwire) – Mergers and acquisitions are heating up in South Korea’s information technology industry this year. With the Fourth Industrial Revolution on the horizon, IT industry leaders like Kakao and SKT are poised to expand their presence by merging with companies in the content industry. According to industry sources, Kakao recently issued [...]

Facebook to Negotiate With Telecom Providers Over ‘Data Traffic Costs’

Facebook to Negotiate With Telecom Providers Over ‘Data Traffic Costs’

SEOUL, Jan. 10 (Korea Bizwire) – Facebook Inc. is willing to negotiate with South Korea’s telecommunications providers over sharing the cost of maintaining the speed of its data traffic services, the company’s vice president said Wednesday. Since 2016, the U.S. social networking giant has been in dispute with SK Broadband Co. and LG Uplus after refusing to pay for a cache server that [...]

Hyundai, Cisco to Unveil Hyperconnected Car Next Year

Hyundai, Cisco to Unveil Hyperconnected Car Next Year

SEOUL, Jan. 10 (Korea Bizwire) — Hyundai Motor Co. and Cisco Systems Inc. said they will team up to produce a next-generation, hyperconnected car next year in the latest move to stay ahead of global competition as sweeping changes in transportation and mobility pick up pace. The two firms aim to create a flexible and [...]

Samsung to Supply 5G Solutions to Verizon

Samsung to Supply 5G Solutions to Verizon

SEOUL, Jan. 4 (Korea Bizwire) — Samsung Electronics Co. said Thursday it has clinched a deal with U.S. mobile carrier Verizon Communications to supply commercial fifth-generation network equipment. Samsung and Verizon plan to kick off commercial 5G services in Sacramento, California, over the second half of 2018, the South Korean tech giant said in a [...]

5G Infrastructure at the Forefront of Technology Investment in South Korea

5G Infrastructure at the Forefront of Technology Investment in South Korea

SEOUL, Jan. 3 (Korea Bizwire) – Infrastructure investment in 5G networks is expected to intensify in South Korea this year, with major telecom providers expected to commercialize the advanced networks in 2019. According to the Ministry of Science and ICT and sources close to the mobile industry, the government and the three major South Korean mobile [...]