[THE INVESTOR] US tech giant Apple is set to be grilled at a parliamentary audit next week over its below-par after-sales service policies in South Korea.The Future Planning, Science, Broadcasting and Communications Committee, an IT policy watchdog under the National Assembly, said that Richard Yoon, the head of Apple Korea, will attend the audit scheduled for Sept. 26.It will be the second time that Yoon will participate in the parliamentary audit session. He was questioned at a 2015 audit over

Sept. 23, 2016

[THE INVESTOR] Investment firm Dongbu Securities forecast that Samsung SDI’s continued operating loss would deepen in the July-Sept period due to rising costs for the recent Galaxy Note 7 recall and lackluster growth of its mid- and large-size battery business.The investment firm anticipated that operating loss in the third quarter would increase to 64.5 billion won (US$58.50 million) down from the previous 26-billion-won estimate. Despite high expectations on electric vehicles, the business env

Sept. 23, 2016

[THE INVESTOR] Samsung Electronics has been running a replacement program for its combustible and explosive Galaxy Note 7 with a new product, but the new handset still has battery issues, according to a news report on Sept. 23. News channel YTN reported that a Galaxy Note 7 buyer, surnamed Choi, had received a new Note 7 through the tech firm’s recall program, which began on Sept. 19 in Korea. His new phone, however, quickly discharged -- the battery level dropped almost 1 percent every second -

Sept. 23, 2016

[THE INVESTOR] Samsung Electronics is extending the refund period for its Galaxy Note 7 smartphone with a faulty battery to the end of this month in Korea. The company said on Sept. 22 that the Korean Agency for Technology Standard, a state-run agency overseeing product safety, has approved its revised recall plan of the Note phone. Samsung had previously planned to offer a refund for the defective device from Sept. 2-19, while running a replacement program with a refurbished Note or Samsung’s o

Sept. 22, 2016

[THE INVESTOR] The number of Samsung Electronics’ Galaxy Note 7 users who have exchanged their Note 7 handset for a new Note 7 has reportedly crossed 100,000 in Korea since the beginning of the firm’s recall program on Sept. 19.Around 20,000 to 30,000 have visited mobile stores run by mobile carriers or the tech giant to get a new Note 7, according to the news reports. The number of people who canceled their mobile subscription for the Note 7 stands at 18,000, accounting for 4.5 percent of the e

Sept. 22, 2016

[THE INVESTOR] California-based Apple is set to launch its first flagship store in South Korea, home to Samsung Electronics and LG Electronics, according to news reports on Sept. 21. Local news outlet Chosun Biz reported that the iPhone maker will open its first Apple Store in Sinsa-dong, an upscale district in Seoul, in a bid to better serve the Korean customers.The US tech firm is said to have signed a deal to rent land, of approximately 530 square meters, and is expected to build the store co

Sept. 21, 2016

[THE INVESTOR] Mobile game powerhouse Netmarble Games said on Sept. 21 that it would collaborate with Japanese hit manga “BLEACH” for the mobile role-playing game “Seven Knights”, developed by its subsidiary Netmarble Nexus.The Japanese comics’ five most-beloved characters, including Ichigo Kurosaki and Ulquiorra Cifer, will feature in Netmarble’s mobile game.The voice actors for the TV animation inspired by the eponymous comics will participate in the collaborative project, and new game backgro

Sept. 21, 2016

[THE INVESTOR] Samsung Electronics unveiled new super-fast, high-capacity solid-state drives on Sept. 21 in Seoul, which the company said would help cement its lead in the global storage system market.The new non-volatile memory express (NVMe) SSDs, dubbed the 960 PRO and 960 EVO, were unveiled at the annual Samsung SSD Global Summit 2016.The NVMe is a communications interface that improves the speed of data processing. An executive from Samsung Electronics introduces the firm’s 960 PRO solid-st

Sept. 21, 2016

[THE INVESTOR] Samsung Electronics' cash reserves have reached a record high of 77 trillion won (US$69.10 billion) in the second quarter, according to the tech giant on Sept. 21.The figure increased 7.8 percent from the fourth quarter of last year and was a whopping 287 percent up from 26.9 trillion won posted in the last quarter of 2011.Cash reserves include cash, cash-equivalents, short-term financial instruments, and short-term liquid assets.The amount of cash and cash equivalents increased 1

Sept. 21, 2016

[THE INVESTOR] LG Electronics said on Sept. 20 that its latest high-end smartphone V20 would make its debut in the Korean market with a price tag of 899,800 won (US$803.50) next week.As its compatriot rival Samsung Electronics has been struggling to solve the defective battery issue, it seems that there is no better chance than now for LG to increase its foothold in the top-tier handset sector.Some market analysts, however, cast doubts over the success of LG’s new smartphone that will be launche

Sept. 20, 2016

[THE INVESTOR] Blackberry, the self-proclaimed most secure smartphone maker, will be back in the Korean market on Sept. 20 since it pulled out of the domestic market in 2012.The Canada-based smartphone firm will make a comeback with its Priv smartphone, the firm’s first smartphone running on Google’s Android operating system. The news of its comeback has been hailed by BlackBerry fans, but the company is facing a bumpy road ahead to make a success out of its comeback. 　The timing, among other re

Sept. 19, 2016

[THE INVESTOR] LG Chem, one of the world’s largest electric vehicle battery makers, has reportedly struck a supply deal worth 2.7 trillion won (US$2.40 billion) with Faraday Future, the EV business arm of Chinese internet firm LeEco.The deal was sealed in August, but the announcement has been delayed due to the Korean government’s recent decision to deploy the US advanced missile system Terminal High Altitude of Area Defense here.LG Chem lithium-ion batteries are expected to power LeSEE, an elec

Sept. 19, 2016

[THE INVESTOR] Samsung Electronics' shares increased to a high of 1,562,000 won (US$ ), up 2.29 percent, in early morning trading morning on Sept. 19, signaling that the tech giant could soon come out of the woods after reeling from the defective battery issue of its Galaxy Note 7 smartphone. The Korean tech giant started its exchange program in Seoul on the day enabling Galaxy Note 7 customers to exchange their smartphones for a new unit or get a refund.The recall was announced after a number o

Sept. 19, 2016

[THE INVESTOR] Samsung Electronics' semiconductor business has gained growth momentum in the April-June period on the back of its robust NAND flash memory business, latest data shows.According to a report by market research firm IHS, Samsung gained a 11.3-percent market share in the global market for integrated device manufacturers, including memory and non-memory chip companies, chip design houses, and foundries, in the three-month period. The figure is the second highest, behind US chip powerh

Sept. 19, 2016