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SK hynix seeks new biz opportunities in China

By Kim Yoo-chulPark Sung-wook, SK hynix CEOICHEON, Gyeonggi Province - SK hynix will seek new business opportunities in China to capitalize on rising demand for high-end devices supporting long-term evolution (LTE) wireless technology, the head of the company said, Friday. “We are studying whether or not a decline in DRAM prices will have an impact on our profitability. As the Chinese LTE market grows, SK hynix is closely monitoring the situation,” SK hynix CEO Park Sung-wook said at an annual shareholders’ meeting at its technology compound in Icheon, Gyeonggi Province. He added that the company will focus on the memory chip business rather than logic chips as the firm is ahead of its rivals when it comes to memory chips.The CEO said that the company will invest around 4 trillion won on facilities this year, although its annual investment is subject to market conditions. “SK hynix may adjust investments on facilities amid market uncertainty,” he said, adding that the company is well aware of volatility in the saturated global smartphone market.Regarding

Mar 21, 2014By Kim Yoo-chul
SK hynix seeks new biz opportunities in China
Tech & Science

Mobile carriers vow to end 'illegal subsidies'

Marketing chiefs of SK Telecom, KT and LG Uplus bow at the Ministry of Science, ICT and Future Planning in Gwacheon, Gyeonggi Province, Thursday, after promising to stop providing illegal subsidies to stabilize the telecommunications market. From left are KT’s consumer division head Lim Hun-moon, SK Telecom marketing chief Yoon Won-young and LG Uplus executive Hwang Hyung-shik. / Korea Times photo by Shim Hyun-chulBy Kim Yoo-chulKorea’s three mobile carriers ― SK Telecom, KT and LG Uplus ― agreed Thursday to stop offering illegal subsidies to stabilize the telecommunication market and better serve customers.This marks the first time that the carriers have issued a joint statement declaring an end to the cash-burning war for subscribers. Subsidies were a result of heated competition among Korean carriers vying for more customers in a market where 70 percent of people already own smartphones, according to data from the Ministry of Science, ICT and Future Planning (MSIP).“We are totally responsible for illegal subsidies for mobile devices, hurting the soundne

Mar 20, 2014By Kim Yoo-chul
Tech & Science

LG CNS to export e-ticketing system to Greece

Seen above is a subway platform in Athens, Greece. LG CNS said Wednesday that it won a deal to build an e-ticketing system for public transportation in Athens, Greece. / Courtesy of LG CNSBy Kim Yoo-chulLG CNS said that it has won a deal to build an e-ticketing system for public transportation in Athens, Greece, by forming a consortium with Terna Energy, a local construction services provider.The system integration (SI) service affiliate of LG Group said that the value of the deal is estimated at around 205 billion won. Terna Energy operates in the energy and construction industry in Greece.Under the agreement, CNS will construct automatic fare-collection systems for all forms of public transportation in Athens over the next two years. The firm will also manage the systems for a decade after the completion of the project, according to the release.The LG CNS-Terna Energy consortium will establish a special purpose company (SPC) to push for the project. LG officials said that the deal was the outcome of close cooperation between the Blue House, the Export Import Bank of Korea (Korea Ex

Mar 19, 2014By Kim Yoo-chul
Tech & Science

LG plans to introduce first wearable device

By Kim Yoo-chulThis is an image of the upcoming LG G Watch./ Courtesy of LG ElectronicsLG Electronics said Wednesday that it will unveil its first wristwatch called “LG G Watch” in the second quarter of this year.“The G Watch will use Google’s wearable smart device platform ― Android Wear. Specifications for the upcoming device are still being developed,” the firm said in a statement.G Watch will be connected to all Android-powered devices other than LG products.By using “Google Now” function, users can check location and time data, while Google’s voice recognition feature will also be added.LG plans to lower the entry barrier for content developers to make G Watch more accessible to consumers. The product will be sold in a bundle package with a “competitive” retail price, the firm said.LG Display, the world’s biggest display panel manufacturer and a unit of LG Electronics, will exclusively provide panels for the device. The firm vowed to collaborate with Google closely. “G Watch is the result of the fourth

Mar 19, 2014By Kim Yoo-chul
LG plans to introduce first wearable device
Tech & Science

Samsung, LG fight over auto display

By Kim Yoo-chulLeading display manufacturers, such as Samsung and LG Display, are looking for a breakthrough in the auto-display market thanks to the growing demand amid the convergence of cars and IT technologies.This shift in business focus has also been driven by the desire to boost growth due to the sluggish sales of televisions.In recent years, vehicles have become a focus in technology exhibitions such as the IFA in Germany and the ICES in the United States, as every aspect of the automobile ― from the engine to the headlights and entertainment system ― are increasingly transformed by technology.Global automakers are pursuing partnerships with leading technology companies, and Korea’s two display suppliers have responded to the call with enthusiasm.They sell displays for use in TVs, smartphones, tablets, notebooks and PCs.However, the competition in the display market has intensified with the rise of Chinese suppliers, prompting the two Korean companies to look for new business segments.“It’s no surprise to see leading automakers spearheading in-car

Mar 18, 2014By Kim Yoo-chul
Tech & Science

LG Chem enhances energy storage biz

LG Chem technicians check the quality of an energy storage system at its technology center in Daejeon in this file photo. / Courtesy of LG ChemBy Kim Yoo-chulLG Chem, the world’s top supplier of rechargeable batteries for electric vehicles (EVs), is beefing up its energy storage system (ESS) business to attract corporate and government clients in the global market.The chemical affiliate of LG Group is diversifying its portfolio to non-petrochemical businesses, capitalizing on ESS as the demand for energy continues to grow at a rapid pace.The electricity market is being deregulated further as grid systems remain unstable, LG Chem said in a statement to The Korea Times.“Governments around the world are focusing more on how to effectively manage electricity, and that means energy-related policies are seeing a new paradigm,” Owen Sung, head of the firm’s public relations office, said Tuesday.“LG Chem is riding the industry’s new wave, and we are ideally positioned to increase our stakes in the promising renewable energy market.”ESS, based on lith

Mar 18, 2014By Kim Yoo-chul
LG Chem enhances energy storage biz
Tech & Science

SNS services seeking growth drivers

Invetors remain bullish over Line IPO, while doubting over Kakao’s profit modelBy Kim Yoo-chulThe nation’s top two free mobile messaging app services ― Line by Naver and KakaoTalk by Kakao ― have reached the point where they will decide whether or not to expand territories.That’s why both are seeking to prepare for an initial public offering (IPO) to secure more capital while trying to further diversify their business portfolios.The outcome of their efforts to tap the capital market is crucial to determining their futures. All indications are that they will each pursue a different direction. Simply put, Naver’s Line is making bullish moves, encouraged by investors’ belief in the messenger’s potential for expansion to other countries with diversified and highly organized applications. In contrast, investors are questioning Kakao’s business model.“A recent Naver road show for investors in Singapore and Hong Kong showed that Line is becoming a new mobile platform,” said Chung Jae-woo, an analyst at Woori Investment & Se

Mar 17, 2014By Kim Yoo-chul
SNS services seeking growth drivers
Tech & Science

SK hynix in dispute with Toshiba

By Kim Yoo-chulSK hynix, the world’s second-biggest memory chip supplier, is being sued for alleged industrial espionage by Japan’s Toshiba and SanDisk from the United States in separately filed lawsuits, the company acknowledged Sunday.“Toshiba filed a lawsuit in the Tokyo District Court over the alleged theft of secret data on NAND flash memory technology,” SK hynix said. A spokesman said the firm has yet to receive legal papers from the Japanese court. He said that it will first have to review details of the case before deciding on what action to take.Toshiba wants the Korean company to pay 1.05 trillion won in damages. The spokesman for Toshiba Korea wasn’t available for comment, Sunday. SanDisk and Toshiba have been partners for years in producing flash memory chip technology used in mobile devices. Toshiba is the world’s No. 2 NAND flash memory chip producer; however, SK hynix is the global leader in the production of pure DRAM chips.Flash card memory supplier SanDisk filed a separate claim in the Santa Clara Superior Court, California. It is

Mar 16, 2014By Kim Yoo-chul
Tech & Science

The web is 25 years old, don't break it

Anupam ChanderUyen LeBy Anupam Chander, Uyen Le Our parents left India and Vietnam in search of opportunities abroad. Today, a young programmer in Vietnam can create the most popular app in the world, as Dong Nguyen did with his game “Flappy Bird,” without leaving home. The Internet allows people from Bangalore to Silicon Valley, and from Nairobi to Rio de Janeiro, to offer services to the world. Many of these services, even Flappy Bird, involve the transfer of personal information across the globe―from payment details to high scores.But even as we celebrate its 25th birthday on March 12, the free and open web is at risk.  As our just released study, "Breaking the Web: Data Localization vs. the Global Internet," lays out, governments around the world are trying to keep information about their people from leaving their borders, citing concerns about foreign surveillance, privacy and security, domestic law enforcement and economic development.What is the “data” that they would prevent from leaving?Australia says that health data about Australians canno

Mar 13, 2014By Kim Yoo-chul
The web is 25 years old, don't break it
Tech & Science

LG empowers R&D initiative

LG Group Chairman Koo Bon-moo, left, looks at a cable battery manufactured by LG Chem during his visit to the LG Chem Technology Center in Daejeon, Thursday. / Courtesy of LG GroupBy Kim Yoo-chulLG Group said Thursday that its chairman Koo Bon-moo appointed 46 senior research fellows in a bid to strengthen the group’s research and development of innovative products.In a statement, the firm said that most the new appointees are from LG Chem, LG Electronics and LG Display.LG spokesman Terry Taekyung Lee said the research fellows will be given incentives and benefits at a level similar to LG executives depending on their output.“They can proceed with projects with less volatility. If they show an outstanding performance, they can get president-level incentives and benefits,” Lee said.LG Electronics has the most experienced researchers currently at 27, followed by LG Display with 10, LG Chem with 8 and LG Household & Care with 1, according to a statement. Lee said the group’s technology affiliates are investing more in advanced components, batteries, and energ

Mar 13, 2014By Kim Yoo-chul
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