The Korea Times close
National
  • Politics
  • Diplomacy
  • Defense
  • Labor & Environment
  • Law & Crime
  • Health & Welfare
  • Embassy
  • Seoul & Provinces
  • Education
  • Foreign Communities
  • Obituaries
Biz & Tech
  • Auto
  • IT
  • Game
  • Manufacturing
  • Retail & Food
  • Energy
  • Construction
  • Airlines
Finance
  • Policies
  • Economy
  • Markets
  • Banks
  • Non-banks
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to the Editor
Lifestyle
  • Arts
  • Books
  • Travel & Cuisine
  • Trend
  • Fashion
  • Around Town
  • Fortune Telling
Entertainment
  • K-pop
  • K-dramas & Shows
  • Movies
  • Music
  • Performances
  • Asia Model Festival
Sports
  • Football
  • Golf
  • Baseball
  • Other Sports
World
  • Asia Pacific
  • Americas
  • Europe & Africa
  • SCMP
Video
  • On the Spot
  • Feature
  • News
Photos
  • Photo News
  • Darkroom
Community
  • The Korea Times
  • search
  • Site Map
  • E-paper
  • Subscribe
  • Register
  • LogIn
search close
  • The Korea Times
  • search
  • Site Map
  • E-paper
  • Subscribe
  • Register
  • LogIn
search close
Biz & Tech
  • Auto
  • IT
  • Game
  • Manufacturing
  • Retail & Food
  • Energy
  • Construction
  • Airlines
Tue, April 13, 2021 | 16:21
IT
Cheil Worldwide acquires Founded
Posted : 2016-04-20 16:19
Updated : 2016-04-21 17:22
Mail
Print Preview
Font Size Up
Font Size Down
Mobile chief Ko remains upbeat about S7 sales

By Kim Yoo-chul

Cheil Worldwide CEO Lim Dai-ki said Wednesday that its decision to acquire Founded, a creative agency with offices in London and San Francisco, will boost the company's presence in non-consumer marketing.

"Cheil Worldwide acquired Founded as planned as this deal will significantly boost Iris' expertise in B2B marketing and strategic planning," Lim told reporters.

He made the remarks on the sidelines of the weekly regular meeting of senior Samsung executives, held Wednesday at the Seocho Samsung Tower.

Cheil, an advertising arm of Samsung Group, itself owns Iris, McKinney and Barbarian Group.

The senior executive declined to specify terms of the Founded deal.

Established in 2012, Founded was named "Best Breakthrough Agency of the Year" last year. Its sales last year were $8.7 million, with the agency generating $2.2 million in operating profit.

However, some claim Cheil's acquisition of Founded was part of its strategy shift for international growth rather than selling its stake to the French company, as the talks were at one point stalled after Samsung and Publicis differed on the value of Cheil Worldwide stocks.

For example, Samsung Electronics spent $2.4 billion on global advertising in 2015.

Cheil's Iris has contracts with P&O Cruises, Uniqlo, HSS Hire, SAP, Financial Times, Moneycorp, WSAtkins, WePay, Capita and Zipcar as its clients, meaning that the alliance will also give Cheil greater access to those under the same network.

Galaxy S7 goes well

Separately, Samsung Electronics' mobile chief Ko Dong-jin told reporters that the company is positive about brisk sales of its latest flagship handsets ― Galaxy S7 and S7 edge ― in the United States.

"Samsung Electronics is still on track to continue the ‘one-plus-one' promotional event for American customers ― get another product free with one purchase. Samsung is positive about further healthy sales of S7 even after the promotion," the senior executive said. "This promotion is led by mobile carriers."

Verizon Wireless, America's top mobile carrier, has joined with Sprint and T-Mobile for the special deal. A customer using AT&T's networks can get Samsung's 48-inch flat-screen TV with one S7 purchase this month.

Counterpoint Research, a market research firm, said the S7 sold 26 percent more than its predecessor Galaxy S6 for the first month since the device's debut.

The company's semiconductor chief Kim Ki-nam made clear that the market leader Samsung is developing next-generation memory chip variants such as MRAM and ReRAM.

"Yes, Samsung will commercialize MRAMs and ReRAMs according to our own schedule. We are on our way and will be ready soon," Kim told reporters.

MRAM is an upgraded version of DRAM with advantages in data-processing speed.

Also, unlike conventional DRAMs, MRAM can store information in digital devices even when switched off. ReRAM enhances speed and efficiency more than today's NAND flash memory chips.


Emailyckim@ktimes.com Article ListMore articles by this reporter









 
LG
 
  • Survivors of xenophobia, hate crime captured in photos
  • Concerns growing over deepening social divide amid pandemic
  • Concerns rise over Seoul mayor's proposed social distancing scheme
  • Spurs to take action after Korean star Son Heung-min racially abused
  • China's top official admits Chinese vaccines have low effectiveness
  • Teachers' portrait rights, copyright infringed on under online education
  • Iran openly expresses discontent over frozen assets in Korea
  • Korea voices grave concerns over Japan's decision to release Fukushima water into sea
  • New virus cases back under 600 on fewer tests; curbs extended amid spring resurgence
  • Will Hyundai Card vice chairman avoid handling labor issues?
  • Actress Seo Yea-ji accused of controlling boyfriend Actress Seo Yea-ji accused of controlling boyfriend
  • NCT DREAM to put out 1st full-length album on May 10 NCT DREAM to put out 1st full-length album on May 10
  • BLACKPINK's Rose sets 2 Guinness World Records with solo release BLACKPINK's Rose sets 2 Guinness World Records with solo release
  • Mamamoo to hold online concert on British streaming platform next month Mamamoo to hold online concert on British streaming platform next month
  • 'Way Back Home' follows rape survivor's path to healing from trauma 'Way Back Home' follows rape survivor's path to healing from trauma
DARKROOM
  • Locust outbreak

    Locust outbreak

  • Death toll rises as protests continue in Myanmar

    Death toll rises as protests continue in Myanmar

  • Say 'NO' to racism (Part 2)

    Say 'NO' to racism (Part 2)

  • Say 'NO' to racism (Part 1)

    Say 'NO' to racism (Part 1)

  • Worst dust storm chokes Beijing

    Worst dust storm chokes Beijing

The Korea Times
CEO & Publisher : Oh Young-jin
Digital News Email : webmaster@koreatimes.co.kr
Tel : 02-724-2114
Online newspaper registration No : 서울,아52844
Date of registration : 2020.02.05
Masthead : The Korea Times
Copyright © koreatimes.co.kr. All rights reserved.
  • About Us
  • Introduction
  • History
  • Location
  • Media Kit
  • Contact Us
  • Products & Service
  • Subscribe
  • E-paper
  • Mobile Service
  • RSS Service
  • Content Sales
  • Policy
  • Privacy Statement
  • Terms of Service
  • 고충처리인
  • Youth Protection Policy
  • Code of Ethics
  • Copyright Policy
  • Family Site
  • Hankook Ilbo
  • Dongwha Group