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LG, foreign players to vie for HiTek

By Kim Yoo-chulLG Group, GlobalFoundries (GF) of the United States, TowerJazz Semiconductor of Israel and HuaHong Grace Semiconductor (HGS) of China are competing to buy Dongbu HiTek, the semiconductor unit of Dongbu Group, according to sources familiar with the issue Sunday.The sources said that the Korea Development Bank (KDB), the main creditor bank of Dongbu HiTek and a lead manager for the deal, recently held a “kick-off meeting” with Nomura Securities, a co-lead manager, and decided to invite “limited potential buyers” to participate.“GF, LG and TowerJazz could be categorized as the leading contenders for HiTeK, while HGS is regarded as the runner-up. SK hynix is also on the candidate list,” said an KDB official by telephone.“Although chances are low, Semiconductor Manufacturing International Corp. (SMIC) of China is also in internal talks on whether to join the bidding,” he added.The KDB official said TowerJazz has also approached over the acquisition, although officials at Dongbu declined to confirm this. In a move to ease its l

Feb 16, 2014By Kim Yoo-chul
LG, foreign players to vie for HiTek
Tech & Science

LG unveils new G Pro 2 phablet

By Kim Yoo-chulLG's phablet G Pro 2LG Electronics Thursday rolled out its newest phablet, the G Pro 2, which it claims will compete with the Samsung Galaxy Note and help expand its market share in the smart device market.At a news conference in Seoul, the electronics giant unveiled the phablet with a 5.9-inch display, larger than its predecessor's 5.5-inch screen and improved hardware and software features.The company said that the phablet ― a combination of tablet and smartphone ― is expected to challenge the Galaxy Note series manufactured by Samsung Electronics and help it improve earnings in the coming quarters.“LG Electronics’ handset division will be in the black from the second quarter of this year on the back of the launch of our new flagship products, including the G Pro2,” said Cho Sung-ha, senior vice president and the head of LG Electronics’ Korean marketing, at a news conference at its headquarters in Yeouido, northern Seoul.LG’s handset division failed to report a profit for the second straight quarter since the third quarter

Feb 13, 2014By Kim Yoo-chul
LG unveils new G Pro 2 phablet
Tech & Science

KT, NTT team up for tech development

Lee Dong-myeon, right in the front row, head of KT’s technology center, poses with NTT DoCoMo Chief Technology Officer Katayama Yasuyoshi, after the two firms agreed to expand their partnership for development of network virtualization technologies in Tokyo, Japan, Thursday. / Courtesy of KTBy Kim Yoo-chulKT Corp. said Thursday that it has teamed up with NTT DoCoMo, the biggest telecommunications firm in Japan, to develop the next-generation wireless technologies.The announcement comes after the company’s new CEO Hwang Chang-gyu asked executives to find solutions to recover its leadership in the telecom sector. Hwang is reviewing all of its business projects from a “zero base” and has named officials who have experiences in telecom-related fields to critical posts. The two firms will collaborate in developing technologies using network virtualization (NV), which creates logical segments in an existing network. Simply put, it’s similar to partitioning a hard drive.Because the demand for wireless data is strong amid the releases of smartphones an

Feb 13, 2014By Kim Yoo-chul
KT, NTT team up for tech development
Tech & Science

SK hynix expected to enjoy better earnings

By Kim Yoo-chulSK hynix, the semiconductor affiliate of SK Group, is expected to reap another record profit this year as demand for memory chips to be used in tablets and smartphones remains healthy, according to a global analyst, Wednesday.“Based on such strong optimism, SK hynix is expected to reach a net debt of zero in the second quarter of this year and the company’s management has confirmed that they are open to shareholder returns,” Bernstein Research’s senior analyst Mark C. Newman said in a report, Wednesday.He said SK hynix’s chief financial officer (CFO) and the head of its investor relations team shared the firm’s upbeat outlook with global analysts and institutional investors at a recent investor relations (IR) session in the United States.Its CFO and IR chief made it clear that the firm will focus on improving its technology and chips before adding capacity, according to the analyst.SK hynix is a solid No. 2 in the global memory chip market. As the leader in pure memory chip production, the management stressed most chip wafer cap

Feb 12, 2014By Kim Yoo-chul
People & Events

Samsung CEO to lead KDIA

Park Dong-geunBy Kim Yoo-chulThe Korea Display Industry Association (KDIA) has named Samsung Display CEO Park Dong-geun as the head of the association, the KDIA said in a statement, Wednesday.The replacement comes after former KDIA chairman Kim Ki-nam moved to Samsung Electronics’ memory chip unit from the CEO of Samsung Display.“The new chairman, Park, will serve the remaining one year of the term as the head of the association,” said the KDIA. The nomination ceremony was held at the K-Hotel in Yangjae, southern Seoul.In a speech to reporters and executives, Park said, “There are many challenges, such as oversupply and falling prices, that should be addressed immediately. Chinese rivals are catching up fast, while Japanese peers are improving, posing another threat to Korea’s display industry.”Park called for closer collaboration between panel, material and equipment suppliers to create a better eco-system to keep Korea’s current leadership in the global display market.While technology companies are being involved in pricey patent disputes,

Feb 12, 2014By Kim Yoo-chul
Samsung CEO to lead KDIA
Tech & Science

Olympus to expand medical biz

By Kim Yoo-chulTakeshi TamaiOlympus managerOlympus has long been a leading camera vendor, however the Japanese company is diversifying its portfolio by expanding its non-camera operation in Korea, in particular its medical equipment business, according to an executive.“Olympus aims to become a complete solutions provider in the medical equipment segment. We plan to grow revenue by 10 percent for fiscal year 2014, which will end in March 2015, from the previous year,” said Takeshi Tamai, division manager at Olympus’ medical business division, in an interview with The Korea Times at Olympus’ headquarters in Samseong-dong, southern Seoul, Wednesday.Tamai stressed that this target is rather conservative given the strong demand for gastrointestinal endoscopes, endotherapy accessories and endosurgery devices in major local hospitals.Olympus’ medical business expects profit for fiscal year 2013 to surpass 110 billion won. Tamai said 70 percent of the total annual revenue in South Korea comes from gastrointestinal endoscopes, 20 percent from endotherapy accessor

Feb 12, 2014By Kim Yoo-chul
Olympus to expand medical biz
Tech & Science

Samsung, LG, SK in auto battery battle

Samsung Electronics recently formed a partnership which BMW, which allows the German carmaker’s i3 electric vehicle to interact with Galaxy Gear smartwatches. / Courtesy of Samsung ElectronicsIT-auto partnership becomes popular for biz sustainabilityBy Kim Yoo-chulConnected vehicles have become central to the contemporary driving experience. New technologies and innovations are emerging from both automotive and consumer electronics companies.Challenges still remain on how effectively new systems, applications, content and context are integrated into vehicles and consumer lifestyles.But as the collaboration between innovative automakers and technology companies becomes stronger, consumers have more driving choices, safety improves and all industries involved grow, according to officials at some of Korea’s leading technology companies.“I can say ubiquitous connectivity opens many doors for improved profitability and competitive positioning throughout an expanded ecosystem in the technology industries. This is what’s happening between the car and technology indus

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

Samsung, Apple unlikely to reconcile

By Kim Yoo-chulSamsung Electronics plans to appeal a ruling by a U.S. court that ordered it to pay $930 million to Apple for patent infringements, sources said Monday.While the two companies earlier agreed to participate in mediation talks before February 19 headed by Judge Lucy Koh, who’s been presiding over the Samsung-Apple disputes since the legal battle began, the sources said it’s highly unlikely that they will reach an agreement.“Top-level executives from both companies, probably Apple’s chief executive Tim Cook and Samsung co-CEO Shin Jong-kyun may hold a face-to-face meeting or a teleconference under the order of Lucy Koh. Because the two companies are still struggling to narrow their differences, the legal battle may continue,” a source familiar with the issue was quoted as saying.The U.S. Justice Department last week ended its investigation into Samsung’s use of standards-essential patents (SEPs) to exclude certain Apple devices from the United States, saying the inquiry is no longer necessary. That means Samsung’s plan to lower it

Feb 10, 2014By Kim Yoo-chul
Samsung, Apple unlikely to reconcile
Tech & Science

KT faces legal battle with banks

By Kim Yoo-chulAn affiliate of KT is facing a legal dispute with banks and brokerages after its employee was found to be involved in a large-scale loan fraud. The banks claim that KT ENS should be held accountable because the loan-application document involved has an official stamp from the company, while the affiliate counters it is an issue of personal misconduct not related to the company and KT ENS did not guarantee payment for its receivables.The Seoul Metropolitan Police Agency (SMPA) said Friday that it plans to issue an arrest warrant to a KT ENS employee, surnamed Kim, as the police secured evidences to prove that Kim took out some 280 billion won ($260 million) in loans offered to its subcontractors. Of the 280 billion won, 200 billion won was from Hana Bank (162.4 billion won), NH NongHyup Bank (18.9 billion won) and KB Kookmin Bank (29.6 billion won), and the rest from 10 savings banks. The loans were guaranteed by other financial firms such as brokerage firms, including Korea Investment & Securities.An official at Hana Bank said it plans to bring the issue

Feb 7, 2014By Kim Yoo-chul
KT faces legal battle with banks
Tech & Science

Western bets on 'cloud computing'

By Kim Yoo-chulWestern Digital will cut its reliance on the looming conventional hard disk drive (HDD) business by massively shifting its focus toward cloud solutions, the company said Thursday.It is the world’s top-tier manufacturer of electronic storage products or personal storage and enterprise.At a news conference in Seoul, the NASDAQ-listed company released its latest cloud computing solution, dubbed “My Cloud.” The device is no bigger than the average external HDD, easy to install and makes less noise.“The market for personal cloud-computing solutions is expected to fully take off this year. The device will help us expand our territories in the lucrative and promising cloud-computing business segment, said Cho Won-seok, country manager at Western Digital.According to the executive, rising demand for smartphones and other data-intensive devices, including tablets, is calling for a shift toward cloud-based computing systems. “It’s fair to say that consumers want to find devices that can store more data. We are seeing increased demand for perso

Feb 6, 2014By Kim Yoo-chul
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