SEOUL, June 18 (Korea Bizwire) — South Korean stocks closed higher for the third consecutive session Wednesday, led by big gains in market heavyweight Samsung Electronics and IT shares. The local currency was trading lower against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) added 21.89 points, or 0.74 percent, to end [...]
SEOUL, Oct. 30 (Korea Bizwire) — A joint exhibition aimed at promoting information technology exchanges between North Korea and Russia has opened in Pyongyang, the North’s state media said Wednesday, marking their first such event in 18 years. The exhibition, held at the People’s Palace of Culture, opened Tuesday, according to the Korean Central News [...]
SEOUL, Oct. 28 (Korea Bizwire) – South Korean technology companies are rapidly expanding their presence in the Middle East, focusing on artificial intelligence (AI), cloud computing, and cybersecurity initiatives. Naver, South Korea’s leading IT platform company, is spearheading this expansion. The company announced on September 23 that it plans to establish “NAVER Arabia,” its Middle East [...]
SEOUL, Sept. 13 (Korea Bizwire) – A recent study has revealed that 27 non-owning executives of South Korean companies with market capitalizations exceeding 2 trillion won hold stock wealth valued at over 10 billion won each, highlighting a growing trend of wealth accumulation among professional managers in the country’s booming tech sector. The Korea CXO Institute, [...]
SEOUL, Sept. 6 (Korea Bizwire) – In a bid to address the chronic shortage of software talent in its burgeoning tech industry, South Korea has launched an initiative to recruit skilled developers from India. The Ministry of SMEs and Startups announced on September 5 that 103 Indian software developers have been hired by South Korean venture [...]
SEOUL, Jan. 18 (Korea Bizwire) — The National Pension Service (NPS), a significant player in the domestic capital market, has been found to have invested most heavily in the IT and electronics sectors over the past year. While the number of companies where the NPS owns more than 5% of shares has decreased, there has been an [...]
SEOUL, Feb. 27 (Korea Bizwire) — Kakao Corp.’s recent decision to stop recruiting experienced developers is a reflection of the frozen IT industry amid the slumping economy. The South Korean tech giant’s spending on wages surged from 911.9 billion won (US$691 million) in 2020 to 1.68 trillion won last year. Due to the increased cost [...]
SEOUL, April 20 (Korea Bizwire) — More businesses in the IT and startup industry are opting to check consumer demand first before manufacturing products and services as the number of active consumers is on the increase. This way, businesses can effectively reduce the risk of failure and minimize opportunity costs. Class 101, an online education [...]
SEOUL, Nov. 5 (Korea Bizwire) — Everland, the amusement park operating unit of Samsung C&T Corp., is incorporating cutting-edge information technology to amusement facilities and customer service to provide smart access to visitors. Samsung C&T announced on Sunday the launch of the Samsung Galaxy Friends program for Everland in collaboration with Samsung Electronics. The program [...]
SEOUL, Oct. 31 (Korea Bizwire) — South Korea’s oceans ministry on Wednesday unveiled the latest technologies that can be used to manage fish farms effectively. A demonstration of a new system was held at a mullet fish farm in the southern county of Hadong, South Gyeongsang Province, earlier in the day. The system, which adopts [...]