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Monday, January 22, 2018

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Currently only 20 major digital currency exchanges are blocked in South Korea but an increasing number of exchanges will be continuously blocked in the future.

Amid Concerns Over Customers’ Opposition

22 January 2018 - 10:45am
Yoon Yung Sil

The card industry is suffering from concerns over a backlash from customers as it has blocked the payment in foreign cryptocurrency exchanges in line with the government's moves to curb a frenzy of cryptocurrency speculation.

According to related industry sources on January 21, Lotte Card and Shinhan Card has introduced systems blocking transactions by investors for the purchase of digital tokens from 20 overseas virtual currency exchanges using either debit or credit cards, starting with Woori Card on the 18th. Other card issuers, including Kookmin Card, are also planning to...

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The local telecom service providers such as KT, SK Broadband and LG U+ are planning to launch commercial 10 Gbps Internet services within this year

10X Faster

22 January 2018 - 10:45am
Cho Jin-young

According to industry sources, the South Korean government, KT, SK Broadband and LG U+ are planning to launch commercial 10 Gbps Internet services within this year.
 
This type of services is 10 times faster than the Giga Internet, which provides a speed of 1 Gbps, and thus is capable of stably supporting major Industry 4.0 services such as high-resolution images, virtual reality (VR) and augmented reality (AR).

It is because the growth potential of the market is huge that the mobile carriers are concentrating on the commercialization of 10 Gbps Internet services from...

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Models show a cheering performance hoping for a successful hosting at an opening ceremony for Korea Grand Sale 2018.

'Korea Grand Sale 2018'

22 January 2018 - 10:45am
Choi Mun-hee

The Visit Korea Committee (VKC) held an opening ceremony for the Korea Grand Sale 2018 in front of Doota Mall in Dongdaemun, Seoul, on January 18, as well as carried out a campaign for local residents and foreigners to encourage friendliness. The ceremony was attended by 100 officials in the tourism industry.

The event, which is held to successfully host the 2018 PyeongChang Winter Olympics and Paralympics, celebrate the opening of the Korea Grand Sale, the nation’s shopping festival for foreigners, and promote a warm welcome to foreigners visiting South Korea, commenced with the...

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The ratio of crude oil that South Korea’s imports from the Middle fell to 74.6% in October last year and to a 10-year low of 72.9% in November.

Less Dependence in Middle East

22 January 2018 - 10:15am
Jung Suk-yee

It has been found that South Korea imported 837.391 million barrels of crude oil from the Middle East for the first 11 months of last year. During the period, the country imported 1,018.316 million barrels of crude oil in total and the ratio of crude oil imports from the Middle East amounted to 82.2%.

The ratio exceeded 80% each month for the first nine months of 2017. However, the ratio fell to 74.6% in October and to a 10-year low of 72.9% in November. During the same period, South Korea’s crude oil imports from the Middle East stood at 69.4 million and 69.01 million barrels,...

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South Korea was the second largest importer of US liquefied natural gas (LNG) in the world last year.

2nd Largest Importer of US LNG

22 January 2018 - 10:00am
Jung Suk-yee

It has been found that South Korea was the second largest importer of US liquefied natural gas (LNG) in the world last year.

The US Energy Information Administration (EIA) said on January 21 that Korea imported 88.2 billion cubic feet of LNG (about 1.99 million tons) from the United States last year (January-October).

Last year, the country that imported the largest amount of US LNG was Mexico with 126 billion cubic feet. Korea came in second with its import volume skyrocketing 773% year on year last year. The surge in imports is attributable to the fact that KOGAS began...

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Samsung Electronics is successfully developing sales channels mostly to Chinese smartphone companies for Exynos, an AP developed by itself.

Stepping Up Efforts to Overtake Qualcomm

22 January 2018 - 9:45am
Michael Herh

Samsung Electronics is stepping up its efforts to overtake Qualcomm, the world's number-one AP manufacturer as the Korean semiconductor giant successfully develop sales channels mostly to Chinese smartphone companies for Exynos, an its own-developed AP.

According to industry sources on January 21, China's smartphone maker Meizu loaded Samsung Exinos 7872 AP in its recently launched smartphone model 'M6s'.

This AP produced via 14-nano FinFet process has a hexa-core (six processing circuits) CPU composed of two units of 2.0 GHz ARM Cortex-A73 and four units of 1.6 GHz ARM...

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Controversy over net neutrality is being reignited among telecom industry and platform operators ahead of the commercialization of 5G mobile telecommunication.

5G and Net Neutrality

22 January 2018 - 9:30am
Cho Jin-young

Controversy over net neutrality is being reignited ahead of the commercialization of 5G mobile telecommunication which is the next generation wireless and wireless communication network. There is a sharp conflict of opinions on the matter between the telecom industry that insists that platform operators should share a burden of investment cost before making massive investment in 5G facilities and platform operators that strongly advocate the development of an autonomous Internet ecosystem.

According to the industry on January 21, with respect to net neutrality, there is a social...

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Automakers are currently rather passive in adopting connected car platforms of Google and Apple.

Reasons for Slowness

22 January 2018 - 9:30am
Jung Min-hee

Google and Apple have focused on the development of connected car platforms for no less than four years. However, automakers are currently rather passive in adopting their platforms, using the platforms of both at the same time or that of either Apple or Google only in a small number of their cars.

According to industry sources, this is because the tug of war between the smartphone platform companies and the automakers is continuing amid the emergence of the Amazon Alexa, Tesla’s counterattack, opposition to the spending of money, the era of 5G that is around the corner, etc.

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Seoul moved up one notch from the previous year to become the third most expensive city in the Asia-Pacific region behind Tokyo (eighth) and Hong Kong (ninth).

Expensive City for Foreigners

22 January 2018 - 9:30am
Jung Suk-yee

According to consulting firm ECA International, Seoul ranked 11th among 262 cities around the world last year in terms of cost of living required for foreigners. Seoul moved up one notch from the previous year to become the third most expensive city in the Asia-Pacific region behind Tokyo (eighth) and Hong Kong (ninth). In 2016, Seoul had ranked sixth in the same region.

Tokyo remained the most expensive city for foreigners in the region for two years in a row. Hong Kong jumped from fifth to second. Shanghai and Beijing moved up three notches each and ranked fourth and fifth,...

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The secondary battery industry is strengthening its efforts to brace for a hike in core raw material prices, such as cobalt, lithium and nickel.

Preparation for Core Raw Material

22 January 2018 - 9:15am
Jung Min-hee

The secondary battery industry is accelerating vertical integration ranging from supply and demand of raw materials to processing of intermediary materials as its efforts to brace for a hike in core raw material prices, such as cobalt, lithium and nickel.

According to industry sources on January 18, LG Chem Ltd. aims to more than triple its cathode material production facilities based on its cathode material business division acquired from GS Energy Corp.’s subsidiary GS EM in 2016. Cathode material is a core secondary battery intermediary material made from the...

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