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Tech & Science

Cisco expands presence in Korea

Jaime Valles, president of Cisco Asia-Pacific, Japan and Greater China, delivers his keynote speech at the “Cisco Connect Korea 2013” conference at COEX in Samseong-dong, southern Seoul, Thursday.                                                                                                    / Courtesy of Cisco KoreaNetworking giant urges attention to big dataBy Kim Yoo-chulCisco Systems is expanding its business in Korea as the U.S.-based global solutions provider has designated the nation as one of its top strategic markets.In line with that initiative, it has decided to grant a vice president position to the new country manager, said a senior Cisco executive, Thursday.``Our headquarters leveled up the position of the Korean office after Korea was named as one of Cisco’s top investment priorities. The new country ma

Mar 28, 2013By Kim Yoo-chul
Tech & Science

LG rebounds on Optimus G series

Models pose with LG Electronics Optimus G Pro smartphones during a launch event at its headquarters in Yeouido in February.                                                                                              / Courtesy of LG ElectronicsBy Kim Yoo-chulLG Electronics has shown clear signs of bouncing back thanks to brisk sales of its Optimus G series.``The recovery in handsets that management had promised is finally showing signs of realization. LG Electronics now has competitive offerings focused on high, mid and low-end segments of the market. This is clearly paying dividends in volume growth, revenue and profit,’’ said Sanford C. Bernstein senior analyst Mark Newman, Thursday.The recovery in smartphones is not the only factor lifting the consumer electronics giant. It is still ranked second in the TV market and its advanced models

Mar 28, 2013By Kim Yoo-chul
Tech & Science

Cisco, Eland team up for mobile office

By Kim Yoo-chulU.S.-based network solutions giant Cisco Systems has signed an agreement with Korea’s Eland Group that will see the latter use its Jabber communication solution, helping the Korean firm build an advanced mobile office environment, Cisco Korea said in a statement, Wednesday.Under the agreement, some 300 Eland employees are going to first try mobile devices that run on the Cisco solution. Then the system will be eventually expanded to all Eland’s 2,300 employees.Jabber is a novel innovation that builds on Voice over Internet Protocol (VoIP) technology popularized by video calling products such as Skype. Its users have the chance to access their preferred method of communication to collaborate with others, anytime and anywhere.They can take advantage of Jabber’s voice, video, web conference and instant messaging capabilities to collaborate in getting work done, as well as swiftly and securely exchanging information, Cisco officials said.The alliance comes in the wake of Eland’s overseas expansion, thus offering an opportunity for its senior managem

Mar 27, 2013By Kim Yoo-chul
Tech & Science

SK Comms seeks comback with photo app

By Kim Yoo-chulSK Communications, the social networking service (SNS) affiliate of the SK Group, is seeking to make a major comeback as its free photo app is receiving favorable responses not only in Korea but also in other countries across Asia and the United States.The company, owner of popular search portal Nate and its web cousin social networking site Cyworld, briefly suffered a downturn due to the inadvertent leak of personal information of 35,000,000 Korean users.This incident eventually triggered a shift of its business to now target foreign markets bringing with it changes to its business structure, said company spokeswoman Chung Ha-nee, Wednesday.While demand for Web-connected devices such as tablets and smartphones is steadily growing thanks to the industries’ transition to ``all-in-one’’ gadgets, SK Communications is joining the fray, by pushing its Cymera application.Cymera is a free application helping anyone to take a photo like a professional photographer by using seven kinds of digital lens effects and four kinds of shooting modes. It also provides

Mar 27, 2013By Kim Yoo-chul
Tech & Science

Samsung to hire environment experts

By Kim Yoo-chulSamsung Group, the nation’s most-powerful conglomerate, said Wednesday it will hire 150 experienced environmental experts in order to improve its working environment and enhance safety checks.The move came after Samsung Electronics made a public apology for the fatal gas leak at one of its chip-making plants that left one contract worker dead and four others injured.This is the first time that the group announced plans to recruit environmental professionals. Under the plan, the group’s 16 technology affiliates including Samsung Electronics and SDI will hire a total of 150 professionals.``After the recent gas leak accident, Samsung checked up to find out what should be done to guarantee environmental safety in our manufacturing facilities. This hiring is part of our promise to fundamentally change our safety system,’’ said Samsung president Rhee In-yong, who is also the chief communications officer at the group, in a briefing to local reporters at its main office in Seoul.Separately, the group also plans to hire 150 new employees with degrees in

Mar 27, 2013By Kim Yoo-chul
People & Events

GE executives visit Hyundai

John Rice, center front, General Electric (GE)’s global vice chairman, is briefed by Hyundai Heavy Industries CEO Lee Jae-sung, right, on details of HHI’s engine facilities in Ulsan, the southeastern industrial city where HHI’s is headquartered, Wednesday.                                                       / Courtesy of HHIBy Kim Yoo-chulExecutives of General Electric (GE) of the United States, including global vice chairman John Rice, visited the headquarters of Hyundai Heavy Industries (HHI) in Ulsan, Wednesday, to bolster business relations with the world’s biggest shipyard.Rice met with HHI CEO Lee Jae-sung to discuss pending issues such as how to beef up partnerships in energy-related businesses, the company said in a statement, Wednesday.Visal Leng, the president of GE’s gas business in Asia-Pacific, Kang Seong-wook, the president of GE Korea, and six other GE executives attended the meeting, HHI said. 

Mar 27, 2013By Kim Yoo-chul
GE executives visit Hyundai
Tech & Science

LG chairman leads mutual growth

Executives of LG Electronics hold hands together with CEOs of LG’s subcontractors during an “LG Partners’ Day” event at the company’s headquarters in Yeouido, Seoul, last week.                                   / Courtesy of LGConglomerate initiates collaborative plans with partnersBy Kim Yoo-chulLG Chairman Koo Bon-mooLG Group is stepping up efforts to foster shared growth by supporting its parts suppliers. According to sources at the group, Chairman Koo Bon-moo ordered chief executives of its top-tier affiliates to implement various programs to help key suppliers expand their overseas businesses in a stable manner."You should keep in mind that suppliers are LG’s valuable assets for balanced and mutual growth,’’ Koo was quoted as saying in a statement, Tuesday.Under the initiative, CEOs of the group units are responsible for implementing six collaborative programs. They are a win-win fund for partner firms; faster reflection of material price changes i

Mar 27, 2013By Kim Yoo-chul
LG chairman leads mutual growth
Tech & Science

Samsung's shift to phones 'fruitful'

By Kim Yoo-chulSamsung Electronics has so far been regarded as a trustworthy supplier of components such as memory chips and flat-screens by many. But its quest for dominance in the mobile phone market is making it possible to expand its share in global sales of premium and value-added devices and become less dependent on volatile businesses, sources said Sunday.Samsung has transformed itself from a mere semiconductor maker to a handset manufacturer over the past decade.Bernstein Research, an influential research firm in Wall Street, said Sunday that the company’s strategic motivation has fundamentally changed, after analyzing its operating profits by business sector.In a report, the firm said Samsung’s handset division made up 66 percent of its entire operating profit reported last year. The contribution of the semiconductor division accounted for 15 percent.In 2004, the portion for the handset division was only 23 percent. The chip-making division had been the key earnings propeller taking up 59 percent of the total that year.The report came days after Samsung announced

Mar 24, 2013By Kim Yoo-chul
Tech & Science

CFA Institute unveils new project

By Kim Yoo-chulThe CFA (Chartered Financial Analyst) announced Thursday it has launched a new project dubbed the ``Future of Finance.’’The project was aimed at motivating and empowering the world of finance to commit to improving fairness and personal integrity, said the institute.``The global financial industry can be an extraordinary force for good, but there is much work to be done to shape the industry for future generations,’’ said Chairman of the Future of Finance Advisory Council John Kay.``This project is designed to engage professionals and investors in and outside of finance to help solve problems with the global financial system. We can affect positive change in finance, but change starts with all of us _ industry leaders, financial professionals, government agencies, financial regulators and the public. It’s an ambitious project that aims not just to gather the best ideas, but to make them a reality,’’ he said.The project is focused on six primary themes _ putting investors first; safeguarding the system; retirement security; fina

Mar 21, 2013By Kim Yoo-chul
Tech & Science

Samsung to raise investment to W50 tril.

By Kim Yoo-chulSamsung Group plans to expand facilities investment up to 50 trillion won ($44.8 billion) this year as the group’s flagship affiliate Samsung Electronics is ready to splurge on the component business, sources said Thursday.The amount is compared with the previous year’s facilities investment of 44 trillion won.``Samsung will invest between 46 trillion won and 50 trillion won. Depending on the market situation, we can adjust our investment plan set earlier,’’ said a Samsung official.Samsung Electronics, the group’s crucial electronics unit, is expected to receive the biggest slice of the investment budget pie.Officials say the company will be active in spending on parts such as semiconductors and flat-screens as Samsung is being challenged in the race for premium parts that include OLED screens and logic chips.``We have sought to strengthen our leadership in the component-making business,’’ said the official. Samsung Electronics is the world’s top supplier of chips and flat-screens.After the group remained bullish on capit

Mar 21, 2013By Kim Yoo-chul
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