SEOUL, March 12 (Korea Bizwire) — South Korean retail giant Lotte Group said Thursday it has signed a 1.02 trillion won (US$906 million) contract to buy a car rental service firm, seeking to diversify its business portfolio. Lotte said it will fund the purchase of KT Rental by May via its hotel affiliate Hotel Lotte. Lotte [...]
SEOUL, Feb. 10 (Korea Bizwire) — South Korean lenders and technology firms are quickly uniting in their latest efforts to jump on the FinTech bandwagon as the once-high boundary between the two industries is blurring with the rise of mobile banking, market watchers said Tuesday. Woori Bank, the flagship unit of state-run financial group Woori [...]
SEOUL, Feb. 5 (Korea Bizwire) – The PR image of KT’s “GiGAtopia” has won a design award on the world stage. On February 4, KT announced that it garnered five awards at the iF Design Awards 2015 for its GiGAtopia PR image and Olleh membership diary. The GiGAtopia PR image was visualized to make customers [...]
SEOUL, Feb. 4 (Korea Bizwire) – Public phone booths, almost useless now, are being repurposed as charging stations for electric vehicles (EVs). KT Linkus, a KT subsidiary that is in charge of the management and maintenance of public phones, began a pilot project offering EV charging stations by transforming three phone booths in Seoul from February 3, [...]
SEOUL, Feb. 3 (Korea Bizwire) – Koreans are on an exodus to the land of MVNO discount phone services, fleeing from mobile network operators such as SKT and KT. According to a report from the Korea Telecommunications Operators Association (KTOA) on February 2, the number of added net subscribers of MVNOs reached 64,500 in January alone, [...]
SEOUL, Jan. 27 (Korea Bizwire) — KT opened a new chapter in its company history as it celebrated its relocation to a new company headquarters in Gwanghwamun, central Seoul, on January 26. KT, arguably founder of South Korea’s telecommunications industry, set sail for a new journey from the ‘new nest.’ The new company building has a [...]
SEOUL, Jan. 26 (Korea Bizwire) — The Seoul Central District Court has ruled against SK Telecom‘s advertising for its tri-band LTE-A service. KT and LG Uplus filed complaints to the court on January 10 and 12 respectively, claiming that SK Telecom’s tri-band LTE-A service ads represented false advertising. The two plaintiffs filed an injunction to ban SK [...]
“We’ll strive to demonstrate more visible results in the global market based on our strong network platform service as an innovative enterprise that represents this country. I hope to bring better performance in global IT export this year, possibly from the Middle East and China.” “Today, telecommunication is as much about data as it is [...]
SEOUL, Jan. 20 (Korea Bizwire) – Three major telecommunications carriers in Korea are engaging in a fierce legal battle over the title of the first commercial service provider of tri-band LTE- Advanced (LTE-A) technology. On December 29, SK Telecom, Korea’s largest mobile carrier, announced that it was the first company in the world to launch commercial [...]
SEOUL, Jan. 14 (Korea Bizwire) – The number of discount phone users reached more than 7 million in 2015 from 4.6 million in 2014. According to industry experts, the share of mobile virtual network operators (MVNOs) is expected to grow to 12 percent of the total mobile carrier market. Due to the recently modified law on [...]