my timesThe Korea Times

Kim Yoo-chul

Korea Times Business Reporter

Go to Email

Read more

Tech & Science

Red Hat vows commitment in Korea

By Kim Yoo-chulJay HahmRed Hat country managerRed Hat, the NYSE-listed leading solution provider for open source software, Monday vowed steady investment to foster the open source system here.“We firmly believe our open source solutions will bring tangible results considering the huge appetites for open source software by firms regardless of business segments,” according to its new country manager Jay Hahm in a news conference at the COEX InterContinental Hotel, southern Seoul.This is the first time the manager has announced its business plan since he took the top seat in April this year. The nation’s top mobile carrier SK Telecom, Korea Exchange and POSCO ICT are one of the local companies that are using Red Hat-patented open source solutions.“Recently, the Korean government is launching a campaign to pay for licensing fees in return for using software developed by well-known software firms. But it’s true that companies feel the burden of paying for software updates, which we believe is not necessarily warranted,” the manager Hahm told the local m

Jul 8, 2013By Kim Yoo-chul
Red Hat vows commitment in Korea
Tech & Science

SK to launch battery JV in China

By Kim Yoo-chulSK Innovation CEO Koo Ja-youngSK Innovation, the nation’s largest oil refining firm, said Friday that it will launch its first battery joint venture (JV) in China in September by teaming up with Beijing Automotive Group and Beijing Electricians.The company will invest 190 billion won to set up the new JV whose manufacturing line will have an annual output of 10,000 battery packs for use in electric vehicles. It said that it aims to become the No. 1 battery supplier.“The venture will produce the biggest car battery supplier in China, the world’s biggest market for electric vehicles, with annual revenue of 200 billion won, at least,” said the statement.It plans to complete the construction of facilities by the latter half of 2014. An SK spokesman said the production capacity will expand to 20,000 by the end of 2017.“We will provide battery cells to the venture from our local factory in the provincial city of Seosan before the venture goes into operation,” said the spokesman, adding that cooperation with Chinese companies will be expand

Jul 5, 2013By Kim Yoo-chul
SK to launch battery JV in China
Tech & Science

Samsung posts record $8.36 bil. in profit

By Kim Yoo-chulSamsung Electronics posted a record operating profit in the second quarter of this year on the back of brisk sales of its Galaxy S4 (GS4) smartphones and improvements in its component business.In a pre-earnings guidance released Friday, Samsung estimated that its operating profits reached 9.5 trillion won ($8.36 billion) between April and June, up 8.2 percent from a quarter ago. It was the biggest quarterly operating income in the company’s history.Its revenue came to 57 trillion won during the same period, up 7.81 percent from three months ago. On a year-on-year basis, operating profits and revenue grew by 47 percent and 20 percent, respectively.However, the earnings results were a bit below market expectations. Market analysts expected operating profit to break the 10 trillion won mark. Accordingly, the firm’s stock price fell by 3.8 percent to close at 1,267,000 won Friday.“We believe Samsung enjoyed continued success and shared gains in the lucrative high-end and premium segment. But the miss is due to a slowdown in handset margins and investment

Jul 5, 2013By Kim Yoo-chul
Tech & Science

Firms agree to create new ecosystem

By Kim Yoo-chulChief executives of local semiconductor and display manufacturing companies have agreed to create a new ecosystem to ensure shared-growth and create more jobs, the government said Thursday.The agreement, initiated by the Ministry of Trade, Industry and Energy, was joined by large technology companies, including Samsung Electronics, Samsung Display and SK hynix, as well as 15 small- and medium-sized firms.Under the agreement, large firms will join hands with smaller players to seek joint development of technologies and share existing ones.The move came a day after Samsung and SK Hynix signed an agreement to share their patents for chip making technologies.During the signing ceremony, Yoon Sang-jick, Minister of Trade, Industry and Energy, told the gathered chief executives, including Samsung Display CEO Kim Ki-nam, who is also the chairman of the Korea Display Industry Association, that local chip- and display-making suppliers should hire more software personnel in order to achieve the government’s target of 70 percent employment rate."Large companies providing su

Jul 4, 2013By Kim Yoo-chul
Tech & Science

SK overhaul Cyworld

Cyworld’s beta versionBy Kim Yoo-chulSK Communications, the operator of Korea’s leading social network service Cyworld, released a new beta version Thursday that focuses on data management.The new version also enhances accessibility, usability and has greater simplicity, said the operator of the networking site in a press release.“We hope the improved user interface will attract more customers and users. The new version is simplified and offers core functions by minimizing the role of sub-functions. Users can manage an entire screen,” said a company spokeswoman.She said the changes are mostly aimed at helping its traditional business find fresh momentum after years of difficulties.Cyworld has been receiving lukewarm responses because there were some kinks in the service design. SK Communications has tried to revitalize itself both in the local and overseas markets.Small improvements led it to fully take off.“This change will be different because the arrangements of functions were completely changed. Life companion is the top phrase for this latest change

Jul 4, 2013By Kim Yoo-chul
Tech & Science

Global app battle excites Korean quartet

Members of Team Lumos pose at the headquarters of Microsoft Korea in Samseong-dong, southern Seoul, during a recent interview. From left are Lee Keun-wook, Choi Nak-kwon, Oh Jung-min and Park Hwa-jin./ Courtesy of MicrosoftBy Kim Yoo-chulIt’s not about becoming the next Steve Jobs or Bill Gates but about having fun doing what they like most. Four college students, who will represent Korea in the 11th MS Imagine Cup, feel excited going up against collegians from other countries in an “app” battle.Team Lumos said that they will wow the audience and judges by presenting its projection tool, “Lumos App.” The team consists of Choi Nak-kwon and Oh Jung-min from Hanyang University; Lee Keun-wook from Myeongji University, and Park Hwa-jin from Sungshin Women’s University. “We love challenges. We are ready,” said Park during an interview. “It’s about our dream. That’s why we are together,” said Lee from Myeongji.In March, Lumos was selected as the Korean National Team for the Cup finals, which will be held in St. Petersbu

Jul 4, 2013By Kim Yoo-chul
Global app battle excites Korean quartet
Tech & Science

SDS to expand investment in China

Chinese consumers look around a booth set up by Samsung SDS at an industry fair in China in May. The company plans to expand investment in the neighboring country to attract new customers there./ Courtesy of Samsung SDSSamsung affiliate plans to focus on ‘smart manufacturing’By Kim Yoo-chulSamsung SDS, the nation’s top system integration (SI) solutions provider, plans to increase its spending on the lucrative “smart manufacturing” market in China. The Samsung affiliate has been accelerating efforts to find new business momentum.“With its strong brand awareness and proven track record in managing various technology solutions that it has achieved in Korea, Samsung SDS will aggressively expand its smart manufacturing business in China,” the company said in a statement to The Korea Times, Wednesday.The Korean economy is expected to remain stagnant in the next few years. Thus, the Samsung affiliate is looking to increase its revenue stream from overseas sources, and China is a market that it can’t afford to lose, said company

Jul 3, 2013By Kim Yoo-chul
SDS to expand investment in China
Tech & Science

Samsung, SK hynix sign patent license deal

By Kim Yoo-chulSamsung Electronics and SK hynix have signed an agreement to share patents for chipmaking technologies for five years.“The agreement is significant as the deal will help Samsung focus on developing advanced chip technologies,” Samsung said.The two firms will have full access to each other’s patents. Samsung and SK hynix have 102,995 and 21,422 chipmaking patents, respectively.The SK Group affiliate said the deal will help the world’s second-biggest chipmaker avoid “unnecessary patent disputes” with Samsung.The agreement includes a license to all semiconductors for payments of certain amounts for the next five years, said a source familiar with the issue, asking not to be named.Samsung plans to improve its strength in profitable chips such as mobile DRAMs as it is cutting reliance on conventional memory chips.“Samsung is now more focused on profitability in the chip business and this agreement will lead to a better environment in memory chips and help us to speed up our development of our lucrative non-memory chips,” said

Jul 3, 2013By Kim Yoo-chul
Tech & Science

Samsung to build 5 R&D hubs

By Kim Yoo-chulSamsung Electronics will invest 5 trillion won ($4.5 billion) to build five new research and development (R&D) centers in Korea over the next three years, company officials said Tuesday.“R&D is crucial to ensuring success in the rapidly-changing consumer electronics industry. Total investment will amount to 5 trillion won,” a Samsung official told The Korea Times, asking not to be named.The official said that the money will be used to build five R&D centers. Under the plan, it has spent around 800 billion won in constructing R5, a research institute in Suwon designed to develop smart devices.Samsung will spend 1.2 trillion won to build a cutting-edge design research center in Woomyeon-dong, southern Seoul. The center will begin operating from June 2015.The design center will house some 10,000 Samsung designers, software developers and strategists. The center will be designed to help researchers maximize creativity.Near the R5 building, it will also construct a parts-development center in order to study next-generation materials and components to

Jul 2, 2013By Kim Yoo-chul
Companies

Regulator to punish mobile carriers

By Kim Yoo-chulThe Korea Communications Commission (KCC), the nation’s top telecom regulator, said Tuesday that it will impose additional penalties on three local carriers for continuing to offer high handset subsidies during the business suspension period.“We will hold a meeting to decide disciplinary measures on July 18. It is highly likely that all three carriers will be banned from recruiting new customers for certain periods from the end of July,” said a KCC spokesman.The official said the agency is still analyzing the data over the trend of handset subsidies offered by the carriers ahead of the final decision. “But this time we will single out one company that has led unfair competition and impose heavier penalties,” said the spokesman.The carriers were earlier suspended by the agency and they were fined a total of 11.89 billion won. Despite the penalties, the KCC found that the three carriers are still violating the rule by continuing the practice of offering illegal amounts of handset subsidies.In its previous investigations, SK had the highest v

Jul 2, 2013By Kim Yoo-chul
previous page
160161162163164
next page

Top 5 stories

Korea Times
About Us
Introduction
History
Contact Us
Products & Services
Subscribe
E-paper
RSS Service
Content Sales
Site Map
Policy
Code of Ethics
Ombudsman
Privacy Policy
Youth Protection Policy
Terms of Service
Copyright Policy
Family Site
Hankookilbo
Dongwha Group
FacebookXYoutubeInstagram
CEO & Publisher: Oh Young-jinDigital News Email: webmaster@koreatimes.co.krTel: 02-724-2114Online newspaper registration No: 서울,아52844Date of registration: 2020.02.05Masthead: The Korea TimesCopyright © koreatimes.co.kr. All rights reserved.