South Korean telecommunications provider KT apologized for Monday’s massive network outage, and for mistakenly citing a cyberattack as its cause. “We sincerely apologize for the massive internet disruptions on Monday. While we initially assumed it was from an outside DDoS attack, it appears to have been caused by a network routing error that occurred during our recent equipment update process,” said KT CEO Koo Hyeon-mo in a statement released Tuesday. Pledging to actively

Samsung Electronics Co. will quickly decide on a foundry investment in the United States, a senior executive said Tuesday, as the South Korean tech giant seeks to become the world's No. 1 player in the logic chip and foundry sectors. Samsung Electronics, the world's No. 2 foundry firm behind Taiwan's TSMC, announced in May that it will build a $17 billion fab in the US Samsung's de facto leader Lee Jae-yong is widely speculated to visit the US, possibly next month, to finalize the site, with t

CJ OliveNetworks CEO Cha shares ‘small, but meaningful’ success stories