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LG chairman calls for drastic changes

By Kim Yoo-chulKoo Bon-mooLG Group ChairmanLG Group Chairman Koo Bon-moo has called for executives and employees to change the way they work and think to overcome numerous challenges to survive in the global economic turmoil.During a speech at a group workshop Tuesday, the chairman stressed that the company is surrounded by internal and external challenges, such as currency volatility and heated competition.“Foreign exchange rates have shown severe volatility, and competition is getting fiercer. Now it is difficult even for market leaders to maintain their leadership,” he said.``I am asking you to show your passion and can-do spirit so as to produce highly-quality products,’’ the chairman said.Koo identified product quality, marketing, after-sales policy and service as the four key values that should be focused on.``You should always think about customers first. If customers want something, then we must find this out and I believe this is a small part of innovation.’’The chairman also indicated that LG will be more aggressive in promotional campaig

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

Samsung challenged by Intel's foundry biz

By Kim Yoo-chulIntel is looking for additional revenue streams by bolstering its presence in the highly-promising logic chip business ― a potential threat to its biggest rival Samsung Electronics.Industry sources said Monday that the semiconductor giant is desperate to look into other businesses amid the rapid growth in tablets and smartphones.The industry’s changing trend means that the PC segment is no longer Intel’s growth driver.The U.S. company has remained ahead of the competition with its state-of-the-art chip-manufacturing plants. This business model did work well when Intel was dominant in the so-called “PC era.” Headquartered in Santa Clara, Intel has more than 80 percent market share in PC processors. It sells those chips to computer manufacturers such as Hewlett-Packard (HP). “Intel’s top management has reached a broad consensus to diversify business portfolios because its old business models don’t work amid the continued consumer shift for portable Web-connected items such as smartphones and tablets,” said HMC Investme

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

Samsung SDS to hold idea-searching contest

Kong Kyoung-rok, a specialist at the open innovation division at Samsung SDS, explains about this year’s sGen Global, an idea-searching competition program, during a pre-seminar session at Seoul National University, Monday. / Courtesy of Samsung SDSBy Kim Yoo-chulyckim@ktimes.co.krSamsung SDS, the information technology services affiliate of Samsung Group, said it will introduce its idea-searching competition program called “sGen” to international markets this year through Facebook. The program has thus far been used only by domestic players.Interested parties and people aged over 14 years can submit business ideas to www.sgenglobal.com. Participants can check details about the event by clicking on www.facebook.com/sgenglobal.Registration will run from March 18 to March 29. Nationality and gender do not matter, SDS said. Competitors who reach the final round after two preliminaries will fine-tune their ideas for five weeks and the winners will be decided via presentations.The firm will award 30 million won to the winners of both team and individual competitions. Run

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

Geislinger opens 1st factory in Korea

Geislinger’s first plant in BusanBy Kim Yoo-chulGeislinger, an Austrian top-tier supplier of parts used in diesel engines, said Monday it has completed its first manufacturing plant in Busan.The company invested a total of $10 million in the facility located in the Mieum Industrial District. The factory will go online from March 11.``The new plant is part of our localization strategy for top clients in Korea. As we are able to manufacture couplings and dampers for large diesel and gas engines, our clients can save on logistics and supplementary costs,’’ said company spokeswoman Lee Mi-gyeong.Major clients for Geislinger include Hyundai Heavy Industries (HHI), Doosan Engine and STX Engine. Lee, however, declined to unveil the initial production capacity at the plant. The firm is headquartered in Hallwang, Salzburg.``The new factory emphasizes the importance of the Korean market, especially in the international marine and power plant sector,’’ according to a statement. Geislinger established its first South Korean office in 2004.The company is one of the l

Mar 4, 2013By Kim Yoo-chul
Geislinger opens 1st factory in Korea
Tech & Science

Samsung to appeal for suit dismissal

US court cuts Apple award by $450 mil., orders new trialBy Kim Yoo-chulSamsung Electronics has vowed to appeal after a U.S. court slashed nearly half of the $1 billion penalty against the company in its patent fight with Apple, saying it seeks a complete dismissal of the patent dispute case``Samsung will appeal as we still believe some $600 million that federal judge Koh ordered us to pay is too much. We are still seeking a complete dismissal of the case in the U.S. Court of Appeals for the Federal Circuit,’’ a senior Samsung executive told The Korea Times by telephone Sunday.U.S. District Judge Lucy Koh on Saturday lowered the damages awarded to Apple over 14 Samsung products, including products in its hot-selling Galaxy lineup, by $450.5 million, saying jurors did not properly follow her instructions in calculating the damages.She also concluded that mistakes had been made in determining when Apple first notified Samsung about its alleged violations of patents for Apple’s trend-setting iPhone and iPad.''The court has identified an impermissible legal theory on whi

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

Regulator to fine 3 mobile carriers

The Korea Communications Commission (KCC), the nation’s telecom regulator, said Friday that it would impose additional penalties against carriers SK Telecom, KT and LG Uplus for offering excessive subsidies despite a recent sales ban order. / Korea Times fileBy Kim Yoo-chulThe nation’s telecommunication regulator plans to fine three major mobile carriers for continuing to offer illegal subsidies.Officials from the Korea Communications Commission (KCC) told The Korea Times Friday it plans to impose extra penalties on SK Telecom, KT and LG Uplus for continuing to offer excessive handset subsidies despite prior warnings from the KCC. The agency says it obtained documents needed to prove the illegal action was still taking place.“We reached a consensus that the market is overheated since February 23. KCC is additionally investigating. Last week, we summoned marketing executives at SK Telecom and LG Uplus and asked them to stop offering handset subsidies,” said Jeon Young-maan, an official at KCC’s telecommunication market research bureau.The KCC said that it

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

Korean shipbuilders outpaced by Chinese rivals

By Kim Yoo-chulThe Korea Chamber of Commerce and Industry (KCCI), the nation’s leading business lobby, asked the government Friday to actively support the ailing local shipbuilding industry by expanding finance programs for it.This is the first time an influential lobby group has issued a statement asking for immediate help for the troubled shipbuilding industry.“Korean firms are fast losing their competitive edge over their Chinese rivals. The shipbuilding industries are falling down and many large and medium-sized shipbuilders are being cornered to fold up their businesses,” the statement said.Korean shipbuilders saw exports decrease by around 30 percent on-year in 2012 while their Chinese and Japanese rivals posted drops of only 10.3 percent and 14.6 percent, respectively.Total exports by Korean shipbuilders reached $37.8 billion in 2012, compared to China's $39.2 billion.It was the first time in 11 years that Korea lost its status as the world’s largest shipbuilding exporter.The KCCI said the Chinese government is actively helping its shipbuilding industry

Mar 1, 2013By Kim Yoo-chul
Tech & Science

Samsung affiliates rush to issue bonds

By Kim Yoo-chulSamsung Group affiliates are rushing to issue corporate bonds to secure funds for future investment at lower costs by capitalizing on low interest rates.Credit analysts and Samsung’s financial officials said that the group will issue corporate bonds worth up to 1 trillion won by this month."Because we believe the central bank will boost the local economy by maintaining a low interest rate policy, we are issuing more corporate bonds,’’ said an official at Samsung SDI, the battery-making unit of the group, Friday.On Feb. 7, the central bank froze its key interest rate at 2.75 percent for the fourth consecutive month.Market experts said that for companies with credit ratings of AA minus or higher, it is the right time to raise funds on the bond market.Samsung SDI plans to issue 200 billion won in bonds with a three year maturity, while Samsung Fine Chemicals ― the petrochemical affiliate of the group ― is set to issue 100 billion won with a five year maturity."By raising that amount of money, we will invest in facilities for our future business

Mar 1, 2013By Kim Yoo-chul
Tech & Science

Qualcomm to go against Samsung with new chip

By Kim Yoo-chulQualcomm’s new chip for smartphones is expected to be a game changer in a global market currently dominated by Samsung Electronics and Apple.The expectation came as Apple has strengthened its partnership with Qualcomm to use the U.S. chipmaker’s latest semiconductor to counterattack the Korean electronics giant. The move will also encourage Samsung to release more affordable models as it is seeking to continue its current lead over Apple, according to market analysts Wednesday.Qualcomm stunned the global technology world last week by unveiling a chip that enables one platform to function on every existing network.The biggest problem facing all handset manufacturers is the mobile radio frequency band fragmentation. But the headache has gone thanks to the breakthrough technology from the U.S.-based chip giant.Qualcomm’s new chip the “RF360 Frond End Solution” eliminates radio frequency band fragmentation as the firm has combined all LTE platforms into it.The development is widely viewed as a possible adverse factor for Samsung, because the Q

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

KT rises as total solution provider

Models demonstrates KT’s unified roaming service during the Mobile World Congress in the Spanish city of Barcelona, Wednesday. / Courtesy of KTBy Kim Yoo-chulKorea’s telecommunications giant KT is transforming itself into a total solution provider by proving it can handle global roaming management while offering converged application services.On Wednesday, the Bundang, Gyeonggi Province-based outfit said in a statement that it has begun offering unified Long Term-Evolution (LTE) network roaming services regardless of network variations by partnering with China Mobile Hong Kong (CMHK). Under the collaboration, Koreans who travel to Hong Kong will be able to use LTE roaming service without changing devices, spokeswoman Juliana Kim was quoted as saying in the statement.The move comes after China Mobile recently completed a trial service in cooperation with KT. Those trials were based on China Mobile’s IPX network and were to set up global roaming configurations angling towards a unified TD (Time Division)-LTE and LTE-FDD (Frequency Division Duplexing) model.TD-LTE uses

Feb 27, 2013By Kim Yoo-chul
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