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☆ I quit my draining IT job and moved to South Korea to teach English. The language barrier is tough, but I'm much happier here.
▼ + stars: | 2024-03-08 | by ( Jen Glantz | ) www.businessinsider.com time to read: +6 min

Alex Brown, a UK native, moved to South Korea to teach English after quitting his IT job in 2023. Despite language and navigation challenges, Brown enjoys his new job and life in South Korea. AdvertisementThis as-told-to essay is based on a conversation with Alex Brown, a 30-year-old from Hampshire, England, who moved to South Korea to teach English. AdvertisementI started researching and discovered programs where I could teach English in different countries. AdvertisementI'm glad I picked South Korea to live for a yearMy experience here has been positive so far.

Persons: Alex Brown, Brown, —, Cheongju, I've, I'd, Uber, haven't Organizations: Service, Google, Cheongju Locations: South Korea, Hampshire, England, Bali, Cambodia, India, Turkey, Cheongju, Jikji, Asia, America, Caribbean

☆ Kakao faces growing regulatory risks as political scrutiny rises
▼ + stars: | 2023-11-03 | by ( Joyce Lee | ) www.reuters.com time to read: +4 min

The Kakao messaging application and the Kakao T taxi booking application are seen on a mobile phone in this illustration photo March 13, 2018. South Korean President Yoon Suk Yeol told a public meeting on Wednesday that the market behaviour of Kakao Mobility's taxi-hailing service was monopolistic and required a review. Its regulatory troubles escalated last month when one of its executives was arrested for suspected stock market manipulation during its acquisition of K-Pop agency SM Entertainment (041510.KQ). Last week, regulator Financial Supervisory Service (FSS) said it will refer Kakao, its affiliate Kakao Entertainment and executives involved in the SM Entertainment acquisition to public prosecutors for suspected violation of the Capital Markets Act. "It is necessary to pay attention to legal risks, as problems may arise in the status of KakaoBank depending on the probes' results."

Persons: Thomas White, Yoon Suk Yeol, Kakao, Oh Dong, hwan, Joyce Lee, Miyoung Kim, Sam Holmes Organizations: REUTERS, Kakao Corp, Naver Corp, Reuters, Mobility, SM Entertainment, Financial Supervisory Service, Kakao Entertainment, Pension Service, NPS, Samsung Securities, Thomson Locations: SEOUL, Korean, Kakao

☆ Forget the megacaps. Bernstein likes these global stocks from an 'unloved' corner of tech
▼ + stars: | 2023-10-31 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

"Going forward, we still find valuation/earnings support for value tech stocks over growth or expensive tech names," the analysts wrote. "We would recommend avoiding expensive tech names as well as tech stocks that are unprofitable and expected to remain unprofitable." These are some names in its screen of value Asia tech stocks: MediaTek , JD.com , Lenovo Group , Foxconn Technology and Samsung SDS. And these are some of those that showed up on its screen of high-growth Asia tech stocks: Naver , SK Hynix , AAC Technologies , Luxshare and Kakao Games. On the whole, Bernstein is relatively positive on the Asia tech sector.

Persons: they're, Bernstein, we've, — CNBC's Michael Bloom Organizations: Stock, Lenovo Group, Foxconn Technology, Samsung SDS, SK Hynix, AAC Technologies, Kakao Locations: Asia, China, U.S

☆ The U.S. is trying to tighten the screws on Chinese AI. What that means for stocks
▼ + stars: | 2023-10-22 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

The artificial intelligence behind ChatGPT-like products and autonomous driving is driving enormous demand for Nvidia's chips in China. Chinese companies also dominate the burgeoning electric car market , where Nvidia has had a fast-growing business of selling chips for assisted and fully autonomous driving. When it comes to such chips for cars, Nomura analysts said there's little reason to worry. Auto chip market BYD, Nio , Li Auto and Xpeng are among the China-based electric automakers using the Orin chip. In the automotive chip category, they noted Nvidia's Thor chip and Qualcomm's Snapdragon Ride Flex chip both fall into that more advanced category.

Persons: Orin, Orin X, Joel Ying, Li Auto, Albert Liu, Weeks, Kneron, Liu, Julian Ma, Ma, Inceptio, Nomura, Inovance Organizations: Nvidia, Nomura, Nomura China Technology, Auto, CNBC's East Tech West, Apple, HSBC, SEC, U.S, Management Locations: China, U.S, Nomura China, South, German, Inovance's, Hong Kong

☆ Analyst discusses Naver and SK Telecom and their development of AI services for enterprise customers
▼ + stars: | 2023-08-24 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAnalyst discusses Naver and SK Telecom and their development of AI services for enterprise customersJames Lim of Dalton Investments discusses South Korea's dominance in the memory chip market and companies that are developing artificial intelligence services targeted at enterprise customers.

Persons: James Lim, Dalton Organizations: SK Telecom, Dalton Investments

☆ South Korea's Naver launches generative AI services to compete with ChatGPT
▼ + stars: | 2023-08-24 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

South Korean internet giant Naver released its own generative artificial intelligence tool on Thursday, joining other companies in launching large language models to compete with OpenAI's ChatGPT. Naver is dubbed the Google of South Korea, as the operator of the country's top search engine. The company said its large language model HyperClova X can improve search as well as marketing and shopping experiences for advertisers and users. HyperClova X powers a slate of new applications Naver announced Thursday including generative AI search service Cue: and chat app Clova X.Naver said Clova X can increase work productivity by summarizing documents and running language translation. Naver said Clova X will start beta testing Thursday.

Persons: OpenAI's, Naver, Clova, Kim Yuwon, ChatGPT, —, Bard, Tongyi, Ernie Bot, Kim Organizations: CNBC Locations: South Korea

☆ We worked hard to keep up with the 'various abilities' of ChatGPT, says Naver Cloud CEO
▼ + stars: | 2023-08-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe worked hard to keep up with the 'various abilities' of ChatGPT, says Naver Cloud CEOKim Yuwon, Naver Cloud CEO, says ChatGPT is "a very challenging competitor" and discusses its new artificial intelligence product, HyperClova X.

Persons: Kim Yuwon Organizations: Naver

☆ South Korea's Naver launches generative AI services
▼ + stars: | 2023-08-24 | by ( Ju-Min Park | ) www.reuters.com time to read: +2 min

Naver said its AI product, named HyperCLOVA X, will provide generative AI-driven searches for users as well as new customised services for enterprise clients. Naver has said it is jointly developing with Samsung Electronics (005930.KS) new chip solutions that will be smaller and more efficient to support its AI technology development. The company plans to open a new data centre for the HyperCLOVA X services in November, Naver said on Thursday. "We are ready to face a new transformation called generative AI," Naver Chief Executive Choi Soo-yeon said. Choi said the company was in talks with global partners about its new AI services' overseas expansion but it was not ready to identify those partners.

Persons: Heo, OpenAI's ChatGPT, Naver, HyperCLOVA, Choi Soo, Choi, Miyoung Kim, Sam Holmes Organizations: REUTERS, Rights, Samsung Electronics, Microsoft, Google, U.S, Thomson Locations: Seongnam, South Korea, Rights SEOUL, Seoul, Japan, Southeast Asia

☆ Naver's 'Webtoon' CEO says barrier for new entrants is high
▼ + stars: | 2023-08-14 | by ( Joyce Lee | ) www.reuters.com time to read: +3 min

The global webtoon industry made $4.7 billion in 2021 and is projected to make $60.1 billion by 2030, according to Spherical Insights & Consulting. But Kim Junkoo, CEO and founder of Webtoon Entertainment - a unit of Naver which originated the format in 2004 - says rivals will struggle to build a viable business. Webtoon Entertainment and its subsidiary have run amateur artists' debut programmes for years, generating 1.6 million titles from 900,000 creators as of January. Naver said in recent earnings calls that it expected to list the Webtoon business in the United States next year, but did not elaborate on size, timing or venue. Webtoon Entertainment reported a 13 billion won operating loss in the April-June quarter, smaller than the 21.4 billion won loss in the first quarter.

Persons: Kim Junkoo, Kim, we've, Apple, Naver, 1,330.1200, Joyce Lee, Sam Holmes Organizations: WEBTOON, REUTERS, Consulting, Amazon Japan, Apple, Webtoon Entertainment, Entertainment, Korea Creative Content Agency, Thomson Locations: Paris, France, SEOUL, Korean, Silicon, Japan, Korea, United, United States

☆ Blind and other anonymous forums are 'places of pure misery,' says Redfin's CEO – but also let workers 'speak truth to power'
▼ + stars: | 2023-07-30 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

The CEO of real estate brokerage Redfin said anonymous forums are "places of pure misery." "Anonymity lets us slander one another without consequences, but it's also the only way to speak truth to power," Kelman said. "That led us to think there's a need for a third-party forum where people have the freedom to talk honestly about work," Kim said. "I was living there for six months and met with Amazon employees and signed them up in person – that's how we started flying." He also hosted parties and barbecues and invited Amazon workers so Blind could get more signups through word-of-mouth.

Persons: Redfin, Glenn Kelman, they're, Kyum Kim, it's, Kelman, Kim, Andrew Bosworth, Christian Charisius, Redfin didn't Organizations: Service, Meta, Twitter, Microsoft, Google, Korean, Amazon Locations: Wall, Silicon, Korea, California, Seattle

☆ ‘Boys Love’ genre finds new audiences in South Korea
▼ + stars: | 2023-07-17 | by ( Jake Kwon | ) edition.cnn.com time to read: +9 min

Not only was the TV series part of a genre — Boys’ Love, or BL for short — that was lesser-known in South Korea, it depicted something rarely seen on the country’s screens: same-sex romance. “Semantic Error,” which was based on a popular web novel of the same name, tells the story of two male college students who fall in love. And the risk paid off: “Semantic Error” became a hit upon its release in 2022. There are currently more than 20 BL shows being produced in South Korea. The on-screen adaptation of "Semantic Error" stars Park Seo-ham as Jang Jae-young and Jaechan as Chu Sang-woo.

Persons: Park Jae, chan, ” Jaechan, Jaechan, Chu Sang, “, ”, —, Kim Hyo, Jeong Areum, Kakao, Kim, Jennifer Konig, J, Kim Hye, ” Kim, Jang Jae, Thomas Baudinette, Jeong, South Korea’s, Go Tae, Holland, ” Holland, “ That’s Organizations: CNN, Elle, Cosmopolitan, BL, Seoul National University . Local, Sydney’s Macquarie University, South Locations: South Korean, South Korea, Japan, Seoul, Asia, Taiwan, Thailand, Korean

☆ South Korea wants to be a top A.I. hub — its chip dominance could be an advantage
▼ + stars: | 2023-07-06 | by ( Sheila Chiang | ) www.cnbc.com time to read: +5 min

Jung Yeon-je | Afp | Getty ImagesSouth Korea's dominance in the memory chip market and a robust artificial intelligence ecosystem gives it an advantage in the global AI chip race, said industry observers. South Korea dominating in the memory market is definitely an advantage," said James Lim, senior research analyst at Dalton Investments. "South Korea seeks to emerge as a prominent player in rapidly growing and promising areas such as AI semiconductors," said Lee. "South Korea has a robust local AI ecosystem, capable of competing with global tech giants," said Sung Nako, executive for large scale AI development at South Korean internet giant Naver. ChatGPT maker OpenAI's CEO Sam Altman had urged South Korea to lead AI chip production during his meeting with South Korean President Yoon Suk-yeol in June.

Persons: Jung Yeon, James Lim, Lee, Dylan Patel, SemiAnalysis, ., TrendForce, Sung Nako, Sam Altman, Yoon Suk, Altman, Dalton's Lim, Geoffrey Cain Organizations: Getty, Dalton Investments, CNBC, Samsung, SK Hynix South, Samsung Electronics, SK Hynix, Science, Micron, South, South Korean, Nvidia, Intel Locations: Seoul, Korea, South Korea, China, U.S

☆ YouTube to launch its first official shopping channel in South Korea -Yonhap
▼ + stars: | 2023-06-21 | by ( ) www.reuters.com time to read: +1 min

SEOUL, June 21 (Reuters) - YouTube will launch its first official shopping channel for live commerce in South Korea on June 30, Yonhap news agency reported on Wednesday. It is YouTube's first official shopping channel in any country, Yonhap said. "We may experiment with a variety of YouTube Shopping features from time to time," a YouTube spokesperson said, without elaborating. Shares in Naver fell 4% on Wednesday morning, while retailer Lotte Shopping (023530.KS) fell 3.3%, versus the wider market's (.KS11) 0.5% drop. South Korea's live commerce market is projected to grow to 10 trillion won ($7.7 billion) this year from 2.8 trillion won in 2021, with Naver currently holding about 60% market share, according to Kyobo Securities.

Persons: Yonhap, Philipp Schindler, Naver, 1,291.1600, Joyce Lee, Stephen Coates Organizations: YouTube, South, Lotte, Kyobo Securities, Thomson Locations: SEOUL, South Korea, Naver, KS, Lincoln

☆ North Korean hackers create fake web portal, South's spy agency says
▼ + stars: | 2023-06-15 | by ( ) www.reuters.com time to read: +2 min

SEOUL, June 15 (Reuters) - North Korean hackers have set up a fake website that looks almost identical to the popular South Korean web portal Naver, marking a more sophisticated attempt to target users in the South, Seoul's spy agency said. "North Korea's hacking attacks targeting South Koreans are getting more elaborate," the spy agency said in a statement on Wednesday. Naver (035420.KS), which is operated by the tech giant of the same name, is South Korea's most-used web portal and search engine and offers various services ranging from email, news aggregation and online shopping. North Korean hackers have been blamed for cyberattacks netting millions of dollars, though Pyongyang previously has denied being involved in cybercrime. International monitors say stolen money has been pumped into North Korea's sanctioned nuclear and missile programs.

Persons: Seoul's, Daum, Hyunsu Yim, Ed Davies, Lincoln Organizations: National Intelligence Service, United Nations, International, Thomson Locations: SEOUL, Naver, South, Pyongyang, cybercrime, North Korea, Korean

Livestream shopping started on social media in China, and according to Coresight Research, has grown into a $512 billion market. The secret to his success, he told CNBC, has been diving into the world of livestream shopping. However, CEO Deborah Weinswig told CNBC the firm has since revised that projection. The firm also estimates livestream shopping will account for more than 5% of total e-commerce sales in the U.S. by 2026. Influencer Danielle Santana hosts live shopping shows on Amazon , selling products from other businesses — everything from cheese graters to make-up sponges.

Persons: I've, Velez, TikTok, Anthony Velez, Deborah Weinswig, didn't, Weinswig, CNBC they're, Eddie Garcia, we're, Garcia, he's, Influencer Danielle Santana, Santana, Coresight's, livestreaming, it's Organizations: eBay, U.S, Research, CNBC, Poshmark, Amazon, Facebook, Meta Locations: China, New York City, U.S

☆ OpenAI CEO visits South Korea as country seeks to encourage AI development
▼ + stars: | 2023-06-08 | by ( ) www.reuters.com time to read: +2 min

SEOUL, June 9 (Reuters) - Open AI Chief Executive Sam Altman is set to meet with South Korean President Yoon Suk Yeol and about 100 local startups on Friday, as the country seeks to encourage domestic competitiveness in artificial intelligence. After crisscrossing Europe last month meeting lawmakers and national leaders to discuss the prospects and threats of AI, Altman has travelled to Israel, Jordan, Qatar, United Arab Emirates, India and South Korea - all this week. The European Union is moving ahead with its draft AI Act, which is expected to become law later this year, while the United States is leaning toward adapting existing laws for AI rather than creating whole new legislation. South Korea has new AI regulation awaiting full parliament approval, which is seen as less restrictive than the EU's version. South Korea's Ministry of Science and ICT announced in April plans focused on fostering local AI development, such as measures to provide datasets for training hyperscale AI, while continuing discussions in AI ethics and regulations.

Persons: Sam Altman, Yoon Suk, Altman, Naver, OpenAI, ChatGPT, Joyce Lee, Heekyong Yang, Deepa Babington Organizations: South Korean, crisscrossing, LG, Financial Times, Microsoft Corp, European, South Korea's Ministry of Science, ICT, Thomson Locations: SEOUL, crisscrossing Europe, Israel, Jordan, Qatar, United Arab Emirates, India, South Korea, Korea, United States, China, Kakao, Spain, Mexico, South

☆ North Korea's failed satellite launch sent Seoul into 'panic mode'
▼ + stars: | 2023-05-31 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNorth Korea's failed satellite launch sent Seoul into 'panic mode'After the launch, an alert message was sent out to Seoul residents in error, causing panic and an increase in internet search traffic on Naver, CNBC's Chery Kang reports.

Persons: CNBC's Chery Kang Locations: Seoul, Naver

☆ A.I. is a threat to the search ad market but an opportunity for us, says South Korea's Naver
▼ + stars: | 2023-05-09 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailA.I. is a threat to the search ad market but an opportunity for us, says South Korea's NaverNamsun Kim of the South Korean internet giant says "all of our services are core to A.I."

☆ A.I. could threaten search ad market, but South Korean tech giant Naver also sees an opportunity
▼ + stars: | 2023-05-09 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

The Naver Corp. website arranged on a screen in Gimpo, South Korea on Sept. 9, 2021. While artificial intelligence chatbots like ChatGPT pose a threat to the search ad market, South Korean internet giant Naver sees the rise of AI as an opportunity for the company. Naver is South Korea's most used search engine, according to Statista, commanding a 61.2% market share of monthly active users. In contrast, the ever ubiquitous Google has a 28.55% market share in the country. If fewer people use search engines, that would lead to a decline in search ad revenue, often the largest revenue stream for their operators.

☆ These tech giants are still making money, but layoffs are coming hard and fast
▼ + stars: | 2023-03-24 | by ( Sheila Chiang | ) www.cnbc.com time to read: +4 min

Here are some of the more prominent global tech firms that have axed staff despite earning big money. 30 despite a "dynamic environment," CEO Satya Nadella said in the tech giant's annual report. Despite that, Microsoft announced in January that it's laying off 10,000 workers as the firm braces for slower revenue growth. The enterprise software company also returned to positive operating profit growth of 2%. However, SAP announced in January that it's cutting up to 3,000 jobs, as the leadership seeks to steer the company toward double-digit profit growth in 2023.

☆ Nordstrom will cut about 2,500 jobs as layoffs creep into the retail world. Here's the full list of major retailers that have laid off workers in 2023.
▼ + stars: | 2023-03-13 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +4 min

Layoffs have started trickling into the retail sector, primarily impacting corporate employees. Still, few retailers are laying off store employees as the "labor hoarding" trend continues in 2023. Since the start of 2023, major retailers ranging from department stores to direct-to-consumer brands have cut staff, the latest swing in a sector that's been hit hard by labor challenges and inflation. Brian Ach/Invision for The RealReal/AP ImagesThe RealReal: The luxury consignment company cut 230 employees, about 7% of its workforce. Lidl: Around 200 US-based corporate employees were let go from the German grocery chain.

☆ How entrepreneurs can use livestream shopping to make thousands of dollars
▼ + stars: | 2023-02-22 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +16 min

Live shopping in the US is expected to become a $25 billion market in 2023. Livestream shopping has been popular in China for over a decade, where the industry was estimated to be worth $305 billion in 2021, up from $63 billion in 2019, according to Coresight Research. Virgile Ollivier, a cofounder and the CEO of Livescale, told Insider livestream shopping would soon become just as important for brands as social-media marketing. Livestream-shopping platforms pick up where Instagram falls shortApps focused solely on livestream shopping show a disconnect on traditional social-media platforms. Most sellers livestream at least once a week, at the same time so their followers always know when to expect a show.

[1/2] AI chip startup Rebellions co-founder and chief executive Park Sunghyun works at the company headquarters in Seongnam, South Korea February 2023. SEOUL Feb 13 (Reuters) - South Korean startup Rebellions Inc launches an artificial intelligence (AI) chip on Monday, racing to win government contracts as Seoul seeks a place for local companies in the exploding AI industry. "But it's not set in stone because AI chips can carry out different functions and there aren't set boundaries or metrics." A100 is the most popular chip for AI workloads, powerful enough to create - in industry lingo, "train" - the AI models. Rebellions declined to give a forecast for its AI chip venture.

☆ This app lets Silicon Valley workers commiserate about layoffs in secret
▼ + stars: | 2023-01-31 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +8 min

Blind members verify that they work at a particular company by signing up with a work email address. Now, Blind is filled with posts from workers comforting each other about how to get through periods of unemployment. (Some tech workers have also lamented the pay cut they’d have to take by switching industries.) “We just all realized that there’s a need for communication that is kind of independent of company control,” Kim said. While Blind is not exclusively for tech workers, it has become incredibly popular in the industry amid the recent turmoil.

☆ BTS fandom tech firm Weverse reaches beyond K-Pop
▼ + stars: | 2022-12-22 | by ( Joyce Lee | ) www.reuters.com time to read: +4 min

"We are a fandom business," Weverse President Joon Choi told Reuters. The app also currently has more than 80 teams of artists represented including BTS, and about 8-9 million monthly active users. However, Weverse users' 'superfan' qualities make engagement in those services turbo-charged, Choi said. Users are based in more than 200 countries and only about 10% of the app users speak Korean, Choi said. Top 5 countries Weverse users are from include Japan, Indonesia, Mexico, the United States and South Korea.

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