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Monday, January 23, 2017

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The South Korean government will set up a 1300 megahertz (㎒)) frequency bandwidth only for the fifth-generation (5G) network.

For 5G Commercialization

23 January 2017 - 1:30pm
Cho Jin-young

The 1300 megahertz (㎒)) frequency bandwidth only for the fifth-generation (5G) network will be set up by the end of next year. This is attracting attention as the South Korean government is suggesting the direction of 5G frequency policies with its aim to realize the 5G network for the first time in the world.

The Ministry of Science, ICT and Future Planning (MSIP) announced that “K-ICT Spectrum Plan,” which includes medium and long-term management measures for the nation’s frequencies, was confirmed at the economic ministerial meeting on January 18.

Accordingly, the...

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Samsung’s Notebook 9 Always model equipped with a larger battery

‘Notebook 9 Always’

23 January 2017 - 1:15pm
Cho Jin-young

Samsung Electronics announced on January 22 that it has released two more models of “Samsung Notebook 9 Always” with a larger battery (900X5N-X·900X5N-L).

The new models with a battery of 66Whr of capacity can top out at up to 23 hours on a single charge using a 10-year-old battery benchmark test, MobileMark 2007. The battery capacity has doubled from 30Whr of the previous models.

The Notebook 9 Always can be charged with cellphone chargers delivering more than 10 watts and sub batteries. Since the series also support USB Type-C, which is considered the next-generation...

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The net inflow of foreign capital into the South Korean stock market totaled US$1.245 billion in December last year while Asian countries such as India, Indonesia and Vietnam saw net outflows.

Financial Vulnerability

23 January 2017 - 1:15pm
Jung Suk-yee

According to the Korea Center for International Finance and Bloomberg, the net inflow of foreign capital into the South Korean stock market totaled US$1.245 billion in December last year whereas the net outflow had amounted to US$436 million in the previous month.

In the last month of last year, India, Indonesia, the Philippines and Vietnam recorded a net outflow of US$1.15 billion, US$273 million, US$191 million and US$50 million, respectively. Some experts pointed out that this evidences South Korea’s robust economic fundamentals.

Still, the others are saying that the...

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2016 [Mamonde] The opening day of the first Amore Pacific store in Malaysia.

Taking-off to 'Great Company'

23 January 2017 - 1:00pm
Choi Mun-hee

Amore Pacific (Chairman, Suh Kyung-bae) is devoting itself to becoming an “Asian Beauty Creator", its vocation to spread the essence of Asian beauty throughout the world.

Amore Pacific announced that it will establish a new overseas production base in the Nusajaya industrial area in Johor, Malaysia, in order to actively respond to growing demand in the ASEAN region.

The company is currently buying sites for the production base with the aim of completing the base in 2020. The Nusajaya industrial area, where the production base will be located, has good accessibility to...

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The South Korean government decided to show an active response to China’s trade retaliation following its decision to accept the deployment of the THAAD system.

Determined Position

23 January 2017 - 12:45pm
Jung Suk-yee

The South Korean government decided to show an active response to China’s trade retaliation following its decision to accept the deployment of the Terminal High Altitude Area Defense (THAAD) system in the Korean Peninsula.

The South Korean government held a task force meeting for the issue in the morning of January 20 and discussed how to deal with trade issues regarding China. The meeting was hosted by Vice Minister of Strategy and Finance Choi Sang-mok.

Those who attended the meeting agreed on organizing subcommittees by industrial sector in the task force of the government...

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Major South Korean companies such as Samsung, LG and Hyundai Motor Company are considering the establishment of manufacturing facilities in the US to prepare against Donald Trump administration’s trade protectionism.

Responses to 'Trump Tax'

23 January 2017 - 12:45pm
Jung Min-hee

South Korean enterprises’ concerns are rising over the Donald Trump administration’s trade protectionism. Major South Korean companies such as Samsung, LG and Hyundai Motor Company are considering the establishment of manufacturing facilities in the United States to protect themselves from the new U.S. government’s border taxes and import tariffs.

The KORUS FTA is still effective and their products manufactured in South Korea can avoid tariff barriers for now. However, things are different for those produced in Mexico and Vietnam. During his election campaign, the new U.S. President...

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From left: Industry minister Joo Hyung-hwan, BMW Korea CEO Kim Hyo-joon, KETI Director Park Chung-won and BMW Sales and Marketing Director Ian Robertson pose at a BMW i3 donation ceremony at the BMW headquarters in Munich on Jan. 16.

Donation for Research

23 January 2017 - 12:45pm
Jung Min-hee

Korea Electronics Technology Institute (KETI) is to strengthen technical tie-up in the smart car sector with global automaker BMW. The company announced on January 22 that it received a donation of the next-generation electric vehicle (EV) “i3” from BMW Group at the BMW headquarters in Munich on the 16th.

The donation ceremony was attended by Minister of Trade, Industry & Energy Joo Hyung-hwan, KETI Director Park Chung-won, BMW Sales and Marketing Director Ian Robertson and BMW Korea CEO Kim Hyo-joon. The i3, which was donated by BMW, will be used as a research and development...

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South Korean Minister of Trade, Industry & Energy Joo Hwang-wan (right in the picture) met with Khalid A. Al-Falih, Minister of Energy, Industry & Mineral Resources of Saudi Arabia, on January 18.

Against Protectionism

23 January 2017 - 12:30pm
Jung Suk-yee

South Korean Minister of Trade, Industry & Energy Joo Hwang-wan said at the Informal WTO Ministerial Gathering in Davos, Switzerland on January 20 (local time) that the judicial function of the WTO should be strengthened for an effective response to trade protectionism. “Dispute settlement procedures in the WTO should be faster and more efficient based on organizational expansion while guidelines are created for international e-commerce along with standard regulatory practices against technical barriers to trade,” he went on to say.

The gathering was attended by the trade...

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The Korea’s financial authorities will strengthen the measures to prevent a large-scale accounting fraud by dealing with a deep-rooted dominant-subordinate relationship between large corporations and accounting firms.

Fraudulent Accounting

23 January 2017 - 12:30pm
Jung Suk-yee

The Financial Services Commission and the Financial Supervisory Service of South Korea will strengthen the measures to prevent a large-scale accounting fraud by dealing with a deep-rooted dominant-subordinate relationship between large corporations and accounting firms. In South Korea, the former pays the latter for external audit and this practice has hindered the improvement of accounting transparency for long.

The two organizations discussed the issue for five months and recently came up with a solution in the form of expanded auditor designation. The idea is to have auditors...

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Employees of SK Telecom and Nokia pose for a photo after succeeding in demonstrating the world’s first VoLTE-based wireless communication technology at the Nokia Research Center in Krakow, Poland, on Jan. 19 (local time).

‘Mission Critical Push to Talk solution’

23 January 2017 - 11:30am
Cho Jin-young

SK Telecom has developed the next-generation wireless communication technology that allows hundreds of rescue workers to communicate well with one another even in large disasters.

The company announced on January 22 that it jointly developed the Voice over LTE (VoLTE)-based mobile communication technology “Mission Critical Push to Talk (MCPTT) solution” with Nokia, a global provider of network infrastructure and related services, for the first time in the world and succeeded in demonstrating the new technology at the Nokia Research Center in Krakow, Poland, on the 19th (local time...

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