South Korea

South Korean police reported Thursday that over 30 North Korean hackers were recruited to work in China by a South Korean criminal ring. The hackers stole personal data of South Korean gamers and transferred $5 million to North Korea.

Seoul blamed North Korea for distributing malicious software to paralyze web sites of government agencies and businesses as well as orchestrating a cyber attack on a South Korean bank this year that brought down its network.

The government of South Korea has launched a new 2011 policy for a greener lifestyle with the use of credit cards. Under the new program introduced by the Ministry of Environment customers are offered "green credits" for buying eco-friendly products or living green in ways such as taking public transit by using a so-called green credit card

"Accumulating green credits does not sound bothersome at all," says Kim Yong-sook, a59-year-old stay-at-home mother.

As the flow of Chinese tourists into South Korea is rapidly increasing enthusiastic purchase of Korean products has resulted in a surge in the use of China’s dominant China UnionPay credit card in Korea.

As reported by BC Card who shares its payment network with China UnionPay142.1 billion won ($120.79 million) was charged to the Chinese credit cards between January to July, an increase of 163 percent from a year ago.

eBay have partnered with Young Bae Ku, the founder of Gmarket, Korea’s leading e-commerce company acquired by eBay in 2009, to form a joint venture that will allow Gnarket to expand into existing markets in Japan and Singapore while strengthening eBay’s position in these regions.

It appears that the ban on using iPad in South Korea will soon be cancelled in view of the latest events when the state official used the device at the public conference. On Tuesday this week the Korea Communications Commission announced it is going to end the blockage of importing Apple Inc.'s iPad for personal use, ending a ban that early adopters in this tech-savvy country dubbed unfair.

Today, we are to consider one of the Asian countries located on the southern half of the Korean Peninsula, South Korea. The country populated by over 50 million people is neighbored by China to the west, Japan to the east, and North Korea to the north. South Korea has the fourth largest economy in Asia and the 15th largest in the world. The economy of the country is export-driven, with production focusing on electronics, automobiles, ships, machinery, petrochemicals and robotics. This Asian country is a member of the United Nations, WTO, OECD and G-20 major economies.

A new survey conducted for the BBC World Service revealed that 4 out of 5 adults think access to the Internet is a fundamental right. The survey polled 27,000 adults in 26 countries and showed 78% of users believed the Web gave them greater freedom and 9 in 10 said it was a good place to learn.

The poll further shows that users in the United States are above the average in believing the Internet is for greater freedom and they are also more confident than most in expressing their opinions online.

The Mobile World Cup contest was arranged by LG in New York for 26 contestants from 13 countries last week. The grand prize for the overall performance was taken by the South Korean team while a Portuguese player set a new texting world record.

There were two competitors in each team including one who specialized in numeric keypads, the other in QWERTY. The goal of the games were to measure texting speed while the efficiency was also a priority.

SK Telecom Co., South Korea’s largest mobile-phone operator, will buy a stake in Hana Financial Group Inc.’s credit-card unit for 400 billion won ($343 million) to expand its wireless payment business.
SK Telecom plans to buy 57.6 million new shares in Hana Card Co and will hold 49 percent of the credit-card company after the purchase, which is subject to approval by the nation’s financial and antitrust regulators, the company said.

Xoom Corporation, the fastest growing internet-based global money transfer company, announced Thursday the launch of their new service to South Korea. 

The service to South Korea allows customers to send money online directly to any bank account in South Korea.

This launch supports Xoom.com's comprehensive corporate initiative to provide immigrant communities an alternative money transfer option that is fast, easy, convenient and low in price. Customers send money by visiting Xoom.com's website, xoom.com.

According to Beijing-based research company Analysys International, China’s rapidly growing Internet penetration causes online gaming industry revenues considerable increase. Thus, the revenues are expected to hit 73.1 billion yuan ($10.7 billion) in the following three years.

 Current China's Internet penetration is around 27% according to the latest government data, compared to over 70% in country’s developed Asian neighbors South Korea and Japan.

 South Korea’s economy grew at the fastest pace in seven years, stoking speculation the central bank will raise borrowing costs for the first time since the collapse of Lehman Brothers Holdings Inc. Gross domestic product increased 2.9 % in the third quarter from three months earlier, when it expanded 2.6 %. That was the fastest since the first quarter of 2002. From a year earlier, GDP rose 0.6 %. South Korea led a regional rebound with China and Singapore as companies including Hyundai Motor Co. and Samsung Electronics Co. reported surging profits, driven by exports.