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Hyosung supplies energy storage system to island

By Kim Yoo-chulHyosung, the nation’s mid-tier conglomerate, said Thursday it has agreed with South Jeolla Province to supply its energy storage systems (ESS) to Kasado, one of the islands in Jindo County in the province.In a statement, the Seoul-based firm said it will complete the installation of 1.25-megawatt (MW) and 3MW per hour ESS solutions on that island by August. The firm said the ESS systems is the largest in terms of capacity in ESS solutions that have so far been installed in the nation’s inhabited islands.“The installments will help 380 households in Kasado get electricity in a stable manner,” Hyosung spokeswoman Cho Min-jung said.“Because Kasado is farther from the province, households in that island have been receiving electricity from diesel-powered generators. We are happy to make some contribution by supplying our ESS systems,” said the spokeswoman.ESS is a device that stores electric power energy that is delivered from a power plant, transmitted to the substation and distributed to the consumer. Korea’s leading tech firms,

Mar 13, 2014By Kim Yoo-chul
Tech & Science

Samsung bets on high-end appliances

Samsung Electronics co-CEO Yoon Boo-keun, right, poses with Korean actress Jun Ji-hyun during a launch event for the Chef Collection Refrigerator at the Shilla Hotel, downtown Seoul, Wednesday. Jun is the firm’s public relations ambassador. / Courtesy of Samsung ElectronicsBy Kim Yoo-chulSamsung Electronics vowed Wednesday to become the world’s top home appliance manufacturer by next year, saying “white goods” are one of its next cash generators.“Samsung’s home appliances business grew much faster than the average industrial growth last year,” Yoon Boo-keun, head of Samsung’s appliances division, told reporters. “We are moving smoothly toward the goal of becoming the world’s top appliance seller by 2015.”This means the firm will focus on boosting sales of high-end appliances to better compete with U.S.-based Whirlpool and Electrolux of Sweden.The executive, who has led Samsung’s growth into the world’s leading TV seller in the last eight years, was given a new role to strengthen its appliances business, whi

Mar 12, 2014By Kim Yoo-chul
Tech & Science

Korea, Vietnam to boost postal ties

Korea Post President Kim Joon-ho, left, poses with the Vietnam’s National Post Office President Pham Anh Tuan after signing a memorandum of understanding in the Vietnamese city of Hanoi, Tuesday, to expand their partnership. / Courtesy of Korea PostBy Kim Yoo-chulKorea Post said Tuesday that it has agreed with the National Post Office in Vietnam to expand its business partnership and make forays into the country.In a statement, the organization under the Ministry of Science, ICT and Future Planning (MSIP) said it has signed a memorandum of understanding (MOU) with the Vietnamese postal agency.Under the agreement, the two parties will run exchange programs to send experts in postal service operations to each country, while seeking to find customized solutions to vitalize e-delivery service. Expanding educational programs in the postal service area is also included, the statement said.“The MOU will also help Korean IT postal companies advance the southern Asian country. The National Post Office in Vietnam is investing to build up advanced postal information technology syste

Mar 11, 2014By Kim Yoo-chul
Tech & Science

LG plans to cut premium TV prices

LG Electronics TV chief Ha Hyun-hwoi, right, poses with the company’s Korea marketing chief Choi Sang-kyu, left, and models during a launch event for its new UHD TV at its research center in Yangjae, southern Seoul, Tuesday. / Courtesy of LG ElectronicsBy Kim Yoo-chulLG Electronics, the world’s second-biggest TV producer, vowed Tuesday to cut prices of premium TVs, including those with ultra high-definition (UHD) technologies.“OLED TVs and UHD TVs are ready to go into the mainstream. LG will clearly lead initiatives by guaranteeing a greater affordability to customers,” Ha Hyun-hwoi, president and CEO of its home entertainment division, told reporters.Commenting on worries that its aggressive pricing policy concerning these TVS may hurt the firm’s profitability, Ha said, “LG is ready to embrace a fall in profitability. If those TVs become more popular, we will be able to generate more profits.”LG has unveiled 16 new UHD TV models ― its sizes include 105, 79, 65, 55 and 49 inches. It also unveiled 77-, and 65-inch TVs with curved displays

Mar 11, 2014By Kim Yoo-chul
Tech & Science

Doosan rebounds on Bobcat recovery

By Kim Yoo-chulDoosan Infracore, the flagship of Doosan Group, is showing signs of a rebound on the back of improving performances by its U.S. compact equipment business, Bobcat, powered by a recovery in the U.S. construction market.Bobcat is a U.S.-headquartered manufacturer of farm and construction equipment and is part of Doosan Infracore, a key affiliate of Doosan Group, the nation’s oldest industrial conglomerate. In 2007, Doosan acquired Bobcat from Ingersoll Rand for $4.9 billion, the biggest overseas acquisition by a Korean company.The sales of Bobcat increased by 6.4 percent to 879.9 billion won in the fourth quarter from a year ago, thanks to an increase in the sales of key products such as compact loaders. Its operating profit margin improved from 5.1 to 11 percent during the same period.As a result, its annual sales declined by 2.5 percent year-on-year last year, but its operating profit increased by 26 percent and its profit margin increased from 6.1 to 7.9 percent, according to Doosan. It accounted for 46.3 percent of Doosan Infracore’s revenue.“Booste

Mar 11, 2014By Kim Yoo-chul
Tech & Science

'Obama won't back Apple again'

By Kim Yoo-chulAlbert FoerU.S. President Barack Obama will not be able to back Apple again  in its patent dispute with Samsung, according to the president of the American Antitrust Institute (AAI).This implies that Samsung may be in a better position going into its second patent battle in a San Jose court.Last year, Obama rejected U.S. International Trade Commission’s (USITC) findings that Apple had infringed on some of Samsung’s “standard essential patents (SEPs),” dealing a major blow to the Korean technology giant.This time, however, the main issues of contention will be related to “commercial patents,” not SEPs, according to Samsung.“The Obama administration has no policy basis for vetoing an exclusion order flowing from infringement of a non-SEP,” AAI President Albert Foer said said in an interview.The two firms will meet again on March 31 in the same U.S. court to argue their cases before a new jury.Samsung was ordered to pay 1 trillion won to Apple as presiding Judge Lucy Koh ruled in favor of the latter on SEPs based on the

Mar 10, 2014By Kim Yoo-chul
'Obama won't back Apple again'
Tech & Science

Hyundai hires ex-Samsung execs

By Kim Yoo-chulHyundai Motor Group has recruited former Samsung Electronics executives in a move to sprint ahead in the newly-created market triggered by the convergence of information technology and automobiles.Of late, leading automakers are teaming up with technology firms such as Samsung, Qualcomm and SK Hynix because the future of cars is all about connections that require high-quality memory chip technologies.Hyundai Motor said that it recently hired Hwang Seung-ho, a former Samsung senior vice president, to head its telematics business. Hwang will be tasked with developing automotive systems such as telematics to be used in Hyundai Motor’s Blue Link and some of Kia’s upcoming premium connected vehicles, according to Hyundai officials.“Hwang will handle developing next-generation connected vehicles with advanced technology solutions,” said a Hyundai official by telephone.From 2006 to last year, Hwang worked for Samsung Electronics. He was a senior executive at Samsung’s logic chip business and handled the chip giant’s modem and connectivity u

Mar 9, 2014By Kim Yoo-chul
Hyundai hires ex-Samsung execs
Tech & Science

US court denies Apple bid for Samsung ban

By Kim Yoo-chulA U.S. district court denied Apple’s request for a complete ban on 23 of Samsung Electronics’ older-model mobile devices in the United States, Thursday (local time).In a filing at the San Jose court, a main legal battleground between the two companies, Judge Lucy Koh said Apple failed to prove that the Korean company's patent infringement caused irreparable harm to Apple sales. Apple was seeking a permanent injunction on the products including the Galaxy Tab 10.1, which Samsung no longer sells to U.S. consumers, as it believed those products infringed upon its patents.“Having considered the parties’ arguments, the briefing, the relevant law and the record in this case, the court concludes that Apple has not established that it is entitled to the permanent injunction it seeks,” she wrote in her final decision.“To persuade the court to grant Apple such an extraordinary injunction ― to bar such complex devices for incorporating three touch-screen software features ― Apple bears the burden to prove that these three touch-screen

Mar 7, 2014By Kim Yoo-chul
US court denies Apple bid for Samsung ban
Tech & Science

Minister warns of illegal subsidies

Minister of Science, ICT and Future Planning Choi Moon-ki, third from left, holds hands with SK Telecom CEO Ha Sung-min, left, LG Uplus Vice Chairman Lee Sang-chul, second from left, and KT CEO and Chairman Hwang Chang-gyu prior to a meeting to discuss pending issues in the telecommunications industry at the Plaza Hotel, downtown Seoul, Thursday. / Courtesy of Ministry of Science, ICT and Future PlanningSKT, KT, LG Uplus face biz suspensionBy Kim Yoo-chulThe nation’s telecom minister warned the country’s three mobile carriers ― SK Telecom, KT and LG Uplus ― Thursday that they will face stronger punishment if they continue to offer illegal subsidies to attract more customers.The warning came after the Ministry of Science, ICT and Future Planning (MSIP) decided to impose a business suspension on the three firms for up to 45 days from next week, meaning that they won’t be allowed to sign up new customers. The ministry plans to unveil details today.“The MSIP has decided to implement a business suspension on the nation’s three mobile carriers. We ho

Mar 6, 2014By Kim Yoo-chul
Tech & Science

LS to supply parts for Mercedes EVs

By Kim Yoo-chulLSIS is in talks with Daimler AG’s Mercedes-Benz to supply electronic vehicle (EV) parts for upcoming Mercedes EVs, said LSIS officials and senior fund managers at leading investment banks in Seoul, Wednesday.“LSIS is negotiating with Mercedes-Benz to provide EV relays to be used in upcoming premium models from the German car manufacturer,” a source from LSIS told The Korea Times by telephone.LSIS is an affiliate of LS Group.The source said that LSIS is seeking for new business opportunities with German car manufacturers including Mercedes by the end of this year and start supplying its parts to Mercedes from 2017 at the earliestHe added that the two parties are now trying to iron out differences over the quality of LSIS products because Daimler has very strict standards.“Because this is a very important deal for us, LSIS is trying hard to persuade the management of Daimler to accept our products. We are in the middle of working-level discussions. LSIS plans to address issues raised by the carmaker as early as possible,” said another offic

Mar 5, 2014By Kim Yoo-chul
LS to supply parts for Mercedes EVs
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