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Tada forced to end van-hailing service in April

A Kia Carnival van used by VCNC's Tada ride-hailing service is seen driving past the National Assembly in Yeouido, Seoul, March 8. / YonhapBy Baek Byung-yeulTada, a prominent Korean SME, will end its van-hailing service April 10 after the National Assembly recently passed a law revision aimed at prohibiting the operation of such services with drivers who do not possess a taxi license, the operator VCNC said Thursday.According to the company, CEO Park Jae-uk gave notice to Tada drivers that its main service, Tada Basic, which enables passengers to call for a van through the firm's designated app, will be terminated after that date.“We will operate Tada Basic service for a month until April 10 but it will remain out of service indefinitely,” Park told the drivers. “It will be difficult for us to stay in operation for even a month, but we want to do our best.”A VCNC official confirmed Park gave notice to the drivers but said that doesn't mean all of its services will be terminated.“As the CEO announced, VCNC will halt the operation of Tada Basic from April

Mar 11, 2020By Baek Byung-yeul
Tada forced to end van-hailing service in April

Committee asks Samsung's Lee to apologize over faults

Samsung Electronics Vice Chairman Lee Jae-yong, right, walks with Kim Ki-nam, center, CEO of the company's Device Solutions division, and other executives during their visit to its chip plant in Onyang, South Chungcheong Province, Aug. 6, 2019. Samsung's compliance committee said Thursday Lee should apologize to the people for raising a series of problems regarding the group's management succession. / Courtesy of Samsung ElectronicsBy Kim Yoo-chulSamsung Group leader and Samsung Electronics vice chairman Lee Jae-yong has been asked to issue a public apology over both alleged and confirmed illegal activities surrounding the group's succession plan, the company-organized compliance committee said, Wednesday.“Samsung's compliance committee sent recommendations to seven Samsung affiliates including Samsung Electronics, Samsung SDI and Samsung SDS, in addition to Samsung Vice Chairman Lee Jae-yong. Some core recommendations included asking Samsung vice chairman Lee to make his public apology over past events relating to the group's succession plan,” the committee leader Kim Ji

Mar 11, 2020By Kim Yoo-chul
Committee asks Samsung's Lee to apologize over faults

Can LG find breakthrough in smartphone biz?

Visitors try out LG Electronics' G8X ThinQ smartphone during a launching event in Sao Paulo, Brazil, Nov. 25, 2019. / Courtesy of LG ElectronicsAnalysts positive on LG's 'different approaches for different regions'By Baek Byung-yeulLG Electronics is hoping to end its years-long losing streak in the smartphone business since former CEO Nam Yong's decision to keep the design- and feature-centric phones pipeline full.The electronics maker lost 1 trillion won ($837 million) last year in the phone market. But the company was still clinging to its dying smartphone business as its chief executive told reporters in this year's Las Vegas tech fair that LG Electronics was hoping for a return to profitability by 2021. The top executive didn't share the specifics on how he plans to resurrect LG's smartphone business.For LG, which has a wide-ranging portfolio from home appliances and TVs to even automotive electronic parts, the smartphone is considered as one of its important lifelines as mobile-related technologies could be applicable for the development of AI and IoT, connecting different devic

Mar 11, 2020By Baek Byung-yeul
Can LG find breakthrough in smartphone biz?

Virus threat expanding SKT, KT's OTT platforms

Models watch movies on SKT Wavve platform. More people have turned to OTT contents as the epidemic continues. Courtesy of SKTBy Kim Hyun-binThere has been a drastic drop in moviegoers and instead more people have been turning to in-house entertainment such as IPTV and over-the-top (OTT) platforms as the coronavirus continues to spread throughout the country.The number of people going to movies dropped significantly for the weekend Feb. 29 to March 1 to of 265,600 people, the lowest attendance in 16 years. The number was directly affected by the ongoing COVID-19 epidemic as there were 505,100 spectators in the same period a year ago.People have been watching more pay-per-view content with Watcha Play viewership increasing close to 20 percent in the cited period and a 36.8 percent increase compare to Jan. 19, the weekend when the first case of COVID-19 was announced in Korea.According to Global Bigdata Research, Netflix saw the largest traffic increase, accounting for 5,070 online views on the week of Feb. 25, an increase of 28.4 percent from the week before.“There were no drasti

Mar 10, 2020By Kim Hyun-bin
Virus threat expanding SKT, KT's OTT platforms

KT to trim workforce through retirement

KT releases video call application for hearing impaired people, Monday. Courtesy of KT By Kim Hyun-binKT, the country's largest telecom company, will have around 20 percent of its workforce retire by 2024, which experts believe will become an opportunity for the company to cut costs and further increase investment in its core businesses and future technologies.When KT was first established in 1981 under the name “Korea Telecom Authority,” the state-run company conducted a large-scale recruitment to match the government's efforts to enhance the country's information technology business.Reports show that starting last year, 530 personnel who were first employed in the early 1980s retired, 710 people are set to follow this year, while an additional 1,000 people are scheduled to retire each year through 2024. A total of 4,700 employees will leave within the next five years, which accounts for around 20 percent of the current 23,000 KT workforce.The CEO nominee Koo Hyun-

Mar 9, 2020By Kim Hyun-bin
KT to trim workforce through retirement

'No more mobility unicorn firms expected in Korea'

Vehicles used by Tada ride-hailing services are stationed at a parking lot in Seocho-gu, Seoul, Thursday. The National Assembly on Friday passed a bill aimed at Tada. YonhapLaw banning Tada service nips mobility innovation in the budBy Nam Hyun-wooThe National Assembly's approval of a revision bill aimed at curtailing popular ride-hailing service Tada is feared to put the brakes on mobility unicorn firms, with industry officials saying the decision will have a negative impact on the country's startup ecosystem and discourage entrepreneurs from starting their own companies.On Friday, the Assembly approved a revision to the Passenger Transport Service Act that only allows transport service providers to provide outsourced drivers of 11- to 15-seat rental vans if the customer uses the vehicle for more than six hours for tour purposes, or the operators rent the vehicles at ports or airports. This effectively prohibits the main service of Tada, which has been offering ride-hailing services through an app since October 2018 with 11-seat Kia Carnivals. The app has more than 1.7 million regis

Mar 8, 2020By Nam Hyun-woo
'No more mobility unicorn firms expected in Korea'

Virus disrupting Chinese supply chains, helping Samsung

Samsung Electronics' semiconductor manufacturing plant in Hwaseong, outskirts of Seoul / Courtesy of Samsung ElectronicsBy Baek Byung-yeulAs the blockbuster U.S.-China trade war escalates in the wake of the deadly coronavirus' lingering effect on tech companies with Chinese-centric supply chains, Samsung Electronics is aiming to harness the ongoing uncertainty to win lucrative deals with American tech companies.Samsung has been leading the global memory chip market over the past decades; but its presence in the logic-chip making sector is less significant than Taiwan's TSMC, which has a greater share in the non-memory semiconductor market.The Korean powerhouse is aiming to produce the chips that will power next-generation devices from companies such as Apple, Google and Amazon, all of which want to blend fifth-generation (5G) and AI into their new mobile products. Specifically and more importantly, Samsung is betting big on chip supremacy beyond its capability to make faster and higher capacity flash storage semiconductors.Samsung Electronics Vice Chairman Lee Jae-yong, the de facto

Mar 8, 2020By Baek Byung-yeul
Virus disrupting Chinese supply chains, helping Samsung

Samsung temporarily moves smartphone production to Vietnam over virus case

Samsung Electronics Co. said Friday it will temporarily move some of its smartphone production to Vietnam, after shutting down a local factory following a positive coronavirus test there.Samsung shut down the factory in the southeastern city of Gumi after a worker tested positive for the new coronavirus. Samsung said the plant will be closed through Saturday, while the floor where the employee worked will be shuttered through Sunday.Samsung's premium smartphones, the Galaxy S20 series and the Galaxy Note 10, for the domestic market were being mostly produced in Gumi. Its plant in Vietnam will put out up to 200,000 smartphones a month and they will be shipped to South Korea beginning late this month, according to Samsung.Samsung said once the virus crisis calms down, the production allocated to Vietnam will be transferred back to Gumi.Samsung currently runs smartphone factories in Vietnam's Bac Ninh and Thai Nguyen provinces. They account for half of the company's smartphone shipment worldwide.The world's largest smartphone maker has so far reported six virus-infected workers at its p

Mar 7, 2020

Samsung, LG begin duel in local dryer market

Samsung Electronics Co. and LG Electronics Inc. have begun their duel in the local dryer market, industry observers said Saturday, as they released new products with upgraded artificial intelligence (AI) and sanitizing features.Industry officials expect that South Korea's clothes dryer market could grow up to 2 million units this year, and the two electronics giants have been claiming that they will take the lion's share in the sector.Samsung was the first one to make the move, launching its Grande AI range of dryers on Jan. 29.Samsung said sales of the Grande AI dryer have topped 10,000 units just a month after its launch, which is double the pace of its previous 16-kilogram dryer models."We believe that the dryer's upgraded AI system; better hygiene features against dust, water residue and rust; and its slim design have led to successful sales," Samsung said.Samsung's Grande AI dryers are priced between 1.89 million won (US$1,580) and 1.99 million won in South Korea depending on options.LG threw its hat into the ring on Thursday by launching its STEAM ThinQ dryer, emphasizing its "

Mar 7, 2020

Committee to focus on Samsung's labor union, succession

Samsung Electronics' office in Seoul / YonhapBy Baek Byung-yeulSamsung's compliance committee has selected three issues ― the company's union, management succession and communication with civic organizations ― for its agenda to improve the conglomerate's business compliance.The committee held a third meeting Thursday, which lasted for approximately seven hours, before announcing its conclusions on moving the company forward.“The committee is determined to discuss Samsung Group's issues such as its union; management succession and communication with civic organizations and will deliver our recommendations asking the Samsung Group to be more forward thinking on these issues,” the committee said.The three topics have long been seen as Samsung's “Achilles heel” ― weak points which have caused many potential business partners to hesitate in investing in one of the world's leading electronics manufacturers.The committee's recommendations are intended to improve anti-corruption efforts by the Samsung Group, following investors' continued requests for it to be busines

Mar 6, 2020By Baek Byung-yeul
Committee to focus on Samsung's labor union, succession
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