Chungbuk Free Economic Zone promo video

Promotional video for Chungbuk Free Economic Zone in North Chungcheong Province which has the advantage of its central location with a nationwide transportation network allowing fast access to every Korean region.

CBFEZ is aiming to become Korea’s IT-biotechnology convergence industry hub by developing solar energy generation, semiconductor manufacturing and biotechnology facilities as well as the aviation MRO industry.

Source: INVESTinKOREA

Apple rumored to open first store in Korea

The Wall Street Journal has reported that Apple Inc. is planning to open its first official retail store in South Korea, home to Samsung, its fiercest rival in global smartphone market.

Right now Korean consumers have to buy Apple products via third party retailers. The products generally arrived later than global release; and there’s also customer support issues, which is probably the main reason Apple is considering the move.

Apple has just launched the iPhone 7 with mix success. Meanwhile Samsung is facing huge problem with its Galaxy Note 7 batteries, with global recalls and sales halted.

Korean Internet Still Fastest

Korea still has the fastest internet speed in the world (as of 2014 Q3) according to Statista, a German research company.

The average Internet speed of South Korea is 25.3Mbps, 5.6 times faster than the world average 4.5Mbps.

South Korea was followed by Hong Kong, Japan, Switzerland, Sweden, Netherlands, Ireland, Latvia, the Czech Republic, and Singapore.

Source: BusinessKorea

Korean traditional markets accept T-money & credit cards

Starting from January 1, 2015, vendors in traditional markets throughout downtown Seoul including Mangwon Market, Gildong Market, Sinwon Market, Sinchang Market, Yeongcheon Market, and Jeongneung Market are accepting payment by T-money and credit cards in addition to cash.

Seoul traditional markets T-money and credit cards

The new payment program is planned to be completed in 2018 in all of Seoul’s over 330 traditional markets. Payment by T-money card is as simple as touching the card to the card reader. Purchases made by credit card costing 50,000 won or less are completed without need for a signature.

T-money is a rechargeable series of cards/devices used for paying transportation fares in and around Seoul and other areas of South Korea. It can also be used in lieu of cash or credit cards in some convenience stores and business outlets.

Source: VisitKorea & Seoul Metropolitan Government

LG begins sales of world’s first curved Oled TV

LG Electronics announced that it will begin accepting pre-orders for its 55-inch Curved OLED TV in Korea, with deliveries to begin in May, which makes LG the first and only company to commercialize both the flat screen and the Curved OLED TV.

LG Electronics First Curved Oled TV

According to press release, the new EA9800 model “features the industry’s very first curved screen ergonomic design, providing an IMAX-like viewing experience in the home. With more than five years of research behind developing the optimum curvature, the entire screen surface is equidistant from the viewer’s eyes, eliminating the problem of screen-edge visual distortion and loss of detail.”

Timing and pricing of the Curved OLED TV in markets outside of Korea will be announced in the months ahead.