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Tag: south korea (page 1 of 2)

South Korea fines Google $177M for blocking Android customisation

South Korean antitrust regulator has fined Google $176.64M for blocking customised versions of the Android OS in the country. While Google intends to appeal against the ruling, the Korean Fair Trade Commission has said that Google’s terms with device makers abused its dominant position in the market, restricting local competitors. The fine comes on the day a new amendment in Korea’s Telecommunications Business Act came into effect.

Source: Yahoo

iPhones to be sold in South Korean stores says LG

South Korean stores of LG will also be selling Apple products including iPhones by August. LG will be leaving the smartphone business by end of this month. The move is going to help Apple, which already holds 20% of the market share in the country, improve its position in S Korea. In May Apple and Samsung collaborated and offered LG smartphone users a trade-in for a new Samsung Galaxy or iPhone along with 150,000 won.

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Data breach in McDonald’s South Korea, Taiwan outlets

Fast-food giant Mcdonald’s has been hit by a cyber attack. The South Korea and Taiwan branches had some of their customer and employee information exposed. Customer name, address, and email ID were leaked while the payment details are secure. The company will inform the regulators and customers listed in those files. McDonald’s daily operations were unaffected and no ransom was involved.

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South Korea looks for Global chip making Supremacy, invests $450bn

Samsung and SK Hynix will invest up to 510 tril won into semiconductor research and production in 10 years. They will be among the 153 firms in the country to support the 10-year plan. SK plans to build a K-semiconductor belt that runs deep into Seoul and brings together chip designers, manufacturers, and suppliers. SK wants to train 36,000 chip experts and invest 1.5 tril won for R&D. South Korea, with its $450 bn plan, aims to join China and the US in a global race.

Smaller companies to get access to royalty-free Samsung tech

Samsung, to have shared growth, will share more of its royalty-free tech with smaller companies. Samsung’s 505 cases of technology to be shared include 213 mobiles and 68 semiconductor patents. South Korea’s Ministry of trade, industry, and energy said this sharing of technology will help smaller and medium-sized companies overcome losses due to covid-19. Earlier, chipmaker SK hynic shared 75 techs with 53 SMEes under the program.

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Samsung heir, family to pay $10.8 bn in inheritance related tax

Samsung heir Lee Jae-yong and family will pay around $10.8 bn in taxes related to inheritance. The family of late Samsung chairman Lee Kun-hee plans to pay the amount in full in six installments over the period of five years, as the deadline to file the tax return will end this Friday. South Korea charges around 60% for inherited shares for large shareholders. Lee Kun-hee ‘s estate includes shareholdings in Samsung Electronics, Samsung Life, Samsung C&T, and real estate.

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Hyundai Motor invests in yet another Israeli startup, use it in global production line

Hyundai Motor, South Korean automaker, has invested in Tel Aviv-based Israeli startup UVeye, an automated vehicle inspection systems’ developer. Hyundai aims is to use the platform in global production lines. UVeye has raised more than $40 mn from Hyundai and other investors in four years of its launch. Its system combines AI, cloud architecture, ML and sensor fusion tech. Hyundai Motor investments in Israeli companies include Autotalks and Opsys Technology.

Lazarus group hacks into S Korean supply chains, N Korea under suspicion

Infamous Lazarus group is been behind a new campaign against South Korean supply chains, made possible through stolen security certificates. Cybersecurity researchers from ESET revealed that the group abuse the certificates, stolen from two separate legitimate South Korean companies. Also known as Hidden Cobra, the group is suspected of being tied to North Korea. Lazarus is connected to the infamous 2014’s cyberattack on Sony Pictures Entertainment.

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