The Korea Times

Samsung to spend $1 bil. for 'shared growth'

Won Ki-chan, left, executive vice president of Samsung Electronics, speaks during a news conference at the company’s main office in southern Seoul, Wednesday, about its plan to support “shared growth.” / Courtesy of Samsung ElectronicsBy Kim Yoo-chulSamsung will invest 1.2 trillion won ($1.07 billion) by 2017 to help its first- and second-tier suppliers and partners, the group said Wednesday.The decision came as part of efforts to support the government’s initiative to ensure shared growth and establish a “creative economy.” This year alone, it will spend 327 billion won on the co-prosperity scheme, it said.The group also decided to allow local third party developers, partners and start-ups to use more of its patents in line with the company’s vision to become an “innovative company.”  “Samsung hopes to create eco-systems by expanding our financial and educational programs to our top- and second-tier contractors, and even firms that currently don’t have any business with us,” said Choi Byung-s

Jun 5, 2013By Kim Yoo-chul

Samsung to spend $1 bil. for 'shared growth'

Tech & Science

Old iProducts stole Samsung patents: ITC

US trade body’s ruling to help Korean firmBy Kim Yoo-chul Samsung Electronics scored a major victory in its patent dispute with Apple after a U.S. trade agency ruled that the iPhone maker infringed on Samsung patents.In its final ruling announced Tuesday, the International Trade Commission (ITC) banned Apple from supplying the iPhone 4, iPhone 3GS and iPhone 3 as well as the iPad and iPad 2 to U.S. carriers.“This is the first patent ruling against Apple in the U.S. that affects product sales, covering models of the iPhone 4, iPhone 3GS, iPhone 3, iPad 3G and iPad 2 3G made for AT&T,” the ITC said in the ruling statement.The panel issued a limited import ban and a cease-and-desist recommendation for AT&T models of those products.It will be sent to President Barack Obama, who has 60 days to make a decision to approve or reject it.Samsung welcomed the decision. “Our patents were protected. We will do more to protect our intellectual property,” said its spokesman.However, the ban is unlikely to deal a blow to Apple’s sales as it does not a

Jun 5, 2013By Kim Yoo-chul

Old iProducts stole Samsung patents: ITC

Tech & Science

Bosch seeks joint venture in Korea

Bosch Korea CEO Hermann Kaess speaks during a news conference at its key local plant in Daejeon, Tuesday. / Courtesy of Bosch KoreaBy Kim Yoo-chulBosch, a German manufacturer of automobile components, said Tuesday that it is mulling the possibility to acquire a Korea-based company to expand its local presence.It also stressed that the company has keen interest in establishing a joint venture with a local company as Bosch hopes to improve revenue.“Bosch is looking at making acquisition deals or establishing a new joint venture in Korea. Bosch is eyeing firms whose business portfolios are Internet-based,” said Bosch Korea CEO Hermann Kaess in a news conference to unveil this year’s business plan at its key local factory in Daejeon, Tuesday.The CEO didn’t elaborate further. Last year, Hyundai Motor had ended its joint venture with Bosch for automotive electronics called Kefico. The CEO said the breakup came at the Korean automaker’s requests.The CEO visited Seoul to participate in the completion ceremony of a new line of its injectors in Daejeon.S

Jun 4, 2013By Kim Yoo-chul

Tech & Science

Dell, Dongbu sign strategic alliance

Dongbu CNI CEO Lee Bong, second from left, shakes hands with Dell Korea CEO Kim Kyung-duk after Dell entered into a distribution agreement with the Dongbu Group affiliate, southern Seoul, Tuesday. / Courtesy of Dell KoreaBy Kim Yoo-chulDell, a Texas-based computer maker, said Tuesday that it has signed an agreement with Korean solution provider Dongbu CNI in a bid to expand its business in Korea.The partnership is calling for the Dongbu Group affiliate to take charge of distribution of all Dell-produced commercial and enterprise products. This business transformation is pushing the U.S.-based maker to strike more strategic deals in Korea and a senior company executive was confident in them being able to consistently improve the corporate revenue, here, by selling customized solutions to its corporate clients. “The agreement allows Dongbu CNI to retain an inventory of the products, which will certainly enable faster customer services, helping give a more diverse product portfolio to Dongbu’s reseller base,” Dell Korea said in a statement.A senior corporate

Jun 4, 2013By Kim Yoo-chul

Tech & Science

Samsung boss behind transformation

Samsung Electronics Chairman Lee Kun-hee Samsung Electronics’s in-house octa-core application processordubbed as Exynos 5By Kim Yoo-chulSamsung Electronics is the world’s biggest technology company by revenue. It is the world’s leader in sales of mobile phones and televisions.But Samsung Chairman Lee Kun-hee is still urging his top executives and employees to continue to innovative because Lee believes that Samsung should seek out new businesses for future growth.The new research center called as R5 located in the company’s technology compound in Suwon, outskirt of Seoul, reflects the chairman Lee’s zeal to transform Samsung into a true innovator.“The chairman knows that if he isn’t careful and innovative, any other manufacturer could steal Samsung’s spot from them,” said a Samsung researcher in Seoul, Monday.The R5, which is Samsung’s fifth research center, is on a tract of 300,000 square meters and the center will house more than 10,000 qualified technicians. The building will be connected to existing centers for bett

Jun 3, 2013By Kim Yoo-chul

Tech & Science

Doosan's Bobcat suffers losses in Europe

By Kim Yoo-chulDoosan Group's key compact equipment manufacturing unit, Bobcat, is suffering from growing losses due to the economic recession in Europe.DHEL, the holding company in Europe suffered 16.9 billion won in net losses in Europe during the first quarter of this year, and DII, the holding company in the US suffered 16.6 billion won in the U.S. during the same period, data from the Financial Supervisory Service (FSS) showed Sunday. Bobcat’s net loss from its business in Europe and the U.S. for the quarter ended March 31 widened year-on-year.In 2007, Doosan bought three Ingersoll Rand-owned business units including Bobcat for about $4.9 billion, the largest international acquisition by a South Korean company.Clark Equipment, a compact equipment manufacturer affiliated with Doosan, reported 207 billion won in net profit on annual revenue of 2.61 trillion won last year. But its net profit during the first three months of this year dropped by 34 percent to 38.1 billion won on revenue of 575 billion.In 2011, DII borrowed $750 million f

Jun 2, 2013By Kim Yoo-chul

Tech & Science

Samsung ups stake for home appliances

A model poses with Samsung’s washer that received an award from the government for adopting energy-saving technologies, Sunday./ Courtesy of Samsung ElectronicsYoon Boo-keun, co-CEO of Samsung ElectronicsBy Kim Yoo-chulSamsung Electronics has undisputable leverage in such areas as smartphones, televisions, semiconductors and displays.But it’s been quite tough to boost sales of home appliances due to their weak brand recognition on the global market. Samsung officials admit it is challenging to compete with global appliance giants such as Whilrpool of the United States, Electrolux of Sweden and Miele of Germany. However, the Korean firm is moving step by step to achieve its goal of becoming the world’s top home appliances maker by 2015 with $18 billion in sales under co-CEO Yoon Boo-keun, better known by his nickname “Mr. TV.”Yoon leads the home appliances, printers and medical equipment businesses, which are viewed as Samsung’s next cash-cows.Yoon, who was the chief of Samsung’s TV business until 2011, was appointed to handle those thin-

Jun 2, 2013By Kim Yoo-chul

Tech & Science

KT to begin cloud service in Japan

By Kim Yoo-chulKT said Thursday that it will team up with SoftBank Corp. to provide a cloud computing service in Japan.Under the agreement, KT will supply its “Cloud K,” while SoftBank Corp., a telecom unit of the SoftBank Group, will promote the service in Japan. The Bundang, Gyeonggi Province-based KT will offer technical support via its data center in Korea.KT said the alliance will boost the firm’s attempts to become a total solution provider by generating more revenue from non-telecom business segments.The company is jointly running a “global data center” in Gimhae with SoftBank to offer services to Japanese companies seeking a reliable data storage center during natural disasters and power outages.From next month, KT will start a new cloud computing service, “Ucloud Japan,” for Japanese companies operating in Korea. The “Ucloud Japan” is cheaper than similar services being provided by other companies. Cloud businesses are services such as data processing and online data storage for mobile devices and computers. Demand for In

May 30, 2013By Kim Yoo-chul

Tech & Science

LSIS wins W40 bil. solar project in Japan

By Kim Yoo-chulLSIS, the nation’s top-tier producer of system solutions, said Thursday that it won a 40-billion-won order from Japan to provide solutions for solar panels.“LSIS is going to supply modules and other related equipment for solar panels for Goldman Sachs’ 40-megawatt plant in the Japanese city of Ibaraki,” LSIS spokesman Kim Bong-kyu said.The project is managed by Japan Renewable Energy (JRE), established by the American investment bank Goldman Sachs in its quest to advance into Japan’s lucrative renewable energy industry.The 40 megawatt generator will go online in January 2015. “The total amount of the deal was some 40 billion won. Under the agreement, LSIS will also supply ring main unit to be used in controlling electricity,” the spokesman said, adding the firm expects to receive additional orders after executing the JRE projects.The demand for plants that run on sunlight, wind, fuel cells and biomass in Japan is rising after the country’s nuclear accidents in Fukushima in 2011. “JRE project is not a one-time event.

May 30, 2013By Kim Yoo-chul

Tech & Science

Intel chips to be used in Galaxy Tab3

Shin Jong-kyunCEO of Samsung ElectronicsLee Hee-sungCEO of Intel KoreaBy Kim Yoo-chulU.S.-based semiconductor giant Intel has agreed with Samsung Electronics to provide advanced processor chips for the upcoming budget Samsung tablets, according to sources from Samsung and Intel, Thursday.Under the agreement, Samsung Electronics will use Intel’s Atom-branded processors in its Galaxy Tab3 tablets. The latest move is expected to pave the way for Intel to expand its presence in the rising mobile device market.The Tab3 is expected to be unveiled at the 2013 Computex conference during the first week of June in Taiwan. “This is a win-win deal for both sides. Intel, which is trying to cut its heavy reliance on PC business, offered better pricing for Samsung that is shifting its focus toward tablets following its huge success in smartphones,” a Samsung research staff at one of its local factories Thursday. “Samsung wants to secure as many processors as possible at better pricing. That’s why Samsung Electronics has recently been diversifying its procurem

May 30, 2013By Kim Yoo-chul

Kim Yoo-chul

Read more

Samsung to spend $1 bil. for 'shared growth'

Old iProducts stole Samsung patents: ITC

Bosch seeks joint venture in Korea

Dell, Dongbu sign strategic alliance

Samsung boss behind transformation

Doosan's Bobcat suffers losses in Europe

Samsung ups stake for home appliances

KT to begin cloud service in Japan

LSIS wins W40 bil. solar project in Japan

Intel chips to be used in Galaxy Tab3

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