Tag - made in korea

South Korean game maker Netmarble strikes $830 million deal to acquire Canadian rival

Netmarble Games Corp., South Korea’s leading mobile game developer and publisher, said Tuesday that it has agreed to take over Kabam’s Vancouver studio, a deal estimated at up to some 1 trillion won ($838 million) which will help the company expand its presence in the North American market. The deal with Kabam, a world leader in massively multiplayer free-to-play games for mobile devices, is expected to close during the first quarter of 2017, it added. But Netmarble did not disclose the [...]

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Apple setting up first official store in Korea

Apple has started construction of its first official Korean store in Seoul, according to the industry sources Sunday. As the first Apple Store in Korea is likely to open next year, anticipation is high that it will lead to an improvement in Apple’s after-sales services which have long disappointed customers here. According to industry sources, Apple leased some 550 square meters of land in Garosu-gil in Sinsa-dong, southern Seoul, for 4.8 billion won on March 1 for the next 20 years. [...]

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Korea to create stable environment for foreign businesses: finance minister

South Korea’s finance minister said Thursday that Asia’s fourth-largest economy has strong economic and financial fundamentals to overcome the current headwinds stemming from the domestic political turmoil and a global economic slowdown. The recent political turbulence sparked by the impeachment of President Park Geun-hye is feared to weigh on the economy, which is experiencing a tepid recovery due to faltering exports and lukewarm domestic demand. Following the National Assembly’s vote to impeach Park last week, the Cabinet is being led [...]

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Hyundai, Kia warned of ‘hazardous conditions’ at US suppliers before worker's death

A worker at an Alabama plant making auto parts for Hyundai Motor and Kia Motors was crushed to death by machinery in June, several months after the automakers were warned of hazardous conditions at their suppliers. David Michaels, assistant secretary of labor for the Occupational Safety and Health Administration, said in a report on the death of Regina Allen Elsea that he had visited the carmakers in South Korea in 2015 and warned top managers of safety problems at their [...]

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Starbucks opens 1,000th store in Korea

Starbucks Coffee Korea opened its 1,000th store in southern Seoul, Wednesday, setting another milestone as a leader in Korea’s booming coffee franchise industry. The Korean unit of the Seattle-based coffee chain, which opened its first outlet near Ewha Womans University in Seoul in 1997, will continue to aggressively expand its presence here in the coming years, company officials said. The Cheongdam Star store is Starbucks Korea’s seventh Coffee Forward outlet, which offers a wide range of premium coffee beans for a [...]

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Samsung raises profile in UHD broadcasting in Europe

Samsung Electronics is raising its profile in Europe’s ultra-high-definition (UHD) broadcasting industry with its expertise in imaging and photographic technology. This comes as Digital Video Broadcasting (DVB), a consortium of a group of industry-leading TV and technology firms, recently picked the high dynamic range (HDR) 10 broadcasting technology as the next UHD standard there. HDR technology can display colors in deeper and lighter levels, creating more vivid images. HDR 10 is an open broadcasting technology backed by a Samsung-led international consortium [...]

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Korean shares turn higher on Wall Street gains

South Korean stocks turned higher late Tuesday morning tracking gains on Wall Street ahead of this week’s rate decision in Seoul and Washington. The benchmark Korea Composite Stock Price Index gained 2.11 points, or 0.10 percent, to 2,029.35 as of 11:15 a.m. The rise followed overnight gains on Wall Street. The Dow Jones industrial average gained 0.20 percent, with the tech-heavy Nasdaq composite index declining 0.59 percent. Bae Sung-young, a market analyst at Hyundai Securities Co., said global stocks were up, tracking [...]

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Apple Korea to report strong earnings this year: sources

Local unit of the US-based tech firm Apple is estimated to post 800 billion won ($680 million) in earnings this year on the back of strong sales of its iPhone lineup, industry sources said Monday. The operating profit of Apple Korea Inc. is expected to reach over 800 billion won with its sales to reach 3 trillion won, they said. A total of 2.6 million iPhones were sold in South Korea as of November, they said, adding that the number is [...]

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Samsung shares hit record high

Samsung Electronics continued its rally on the stock market, Wednesday, hitting a record high during the day’s trading, amid rosy expectations on its plan over converting into a holding firm and increasing dividends for its shareholders. The company’s stock price closed at 1,772,000 won, up 1.37 percent from 1,748,000 won a day earlier. During the day’s session, the price per share soared to 1,774,000 won, surpassing the previous record of 1,760,000 won. Buoyed by the surge, the company’s market cap [...]

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Samsung to disband lobby team: vice chairman

Samsung Electronics Vice Chairman Lee Jae-yong said he would disband the corporate strategy office, the powerful control tower of Samsung Group, in a National Assembly hearing, Tuesday. The core strategic unit is believed to be at the center of the problematic support for President Park Geun-hye’s shadowy confidant Choi Soon-sil and the controversial merger of two Samsung affiliates ― Samsung C&T and Cheil Industries ― last year. “After hearing many lawmakers scold the corporate strategy office, I learned there are many [...]

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