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Doosan aims to create new markets

By Kim Yoo-chulPark Yong-maanDoosan chairmanDoosan Group Chairman Park Yong-maan said Tuesday that he will strive to turn the conglomerate into a market creator in all of its business segments to survive the low growth era.In his New Year address, Park said that he will take the initiative in the group’s drive to be a market leader by focusing on investment in core and patented technologies.``In today’s low-growth environment, we have a lot of things to do. We shouldn’t be satisfied with catching up with top-tier firms. We should start implementing action plans to surpass them’’ Park was quoted as saying in a statement.The chairman ordered the group’s affiliates to identify ``star projects’’ according to divisions and affiliates and explained that the plan was aimed at strengthening competiveness.Park has spearheaded the group’s globalization effort and said that the nation’s oldest conglomerate needs to save on costs and increase management efficiency amid the fluctuating business situation.``But that doesn’t mean you

Jan 1, 2013By Kim Yoo-chul
Doosan aims to create new markets
Tech & Science

Samsung to reap record profit in Q4

By Kim Yoo-chulSamsung Electronics is expected to again post record operating profit for the fourth quarter of last year on the back of robust smartphones sales and a rebound in its chip business, according to market analysts and company officials.They said that the world’s biggest smartphone maker is looking for record quarterly operating profit of $8.5 billion (9 trillion won) during the October-December period.Samsung Electronics mobile chief Shin Jong-kyun said the firm is aiming to have sold more than 40 million Galaxy SIIIs in 2012 from its earlier prediction of 35 million. Samsung released the device in September.  The company reported 7.58 trillion won in operating profit in the third quarter in a regulatory filing.``We earlier thought that Samsung’s fourth-quarter profit would likely fall from the third quarter’s record level amid higher marketing costs and fiercer competition. But we believe the firm may set a fresh record for the last quarter of 2012,’’ said a Samsung official, requesting anonymity.Samsung will issue guidance for its fina

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

KT to expand 'vitrual goods' business

Lee Suk-chaeKT chairmanBy Kim Yoo-chulKT Chairman Lee Suk-chae said in a New Year’s address Monday that his firm will seek organic growth by expanding its online trade business in 2013.``We will rise as the top provider that sells fine-tuned virtual goods this year,’’ said Lee.Virtual goods are non-physical objects purchased for use in online communities or online games. ``We are in an era of broadband and the future will be the same. As a powerful local media content provider, KT has secured a solid base to effectively sell virtual goods and converged goods online,’’ the CEO said in a press release.The market potential for virtual goods in Korea, one of the world’s most-wired societies, is huge as such goods in social games have already taken off. The local virtual goods market is fueled by virtual gifting on networks and forms of online items outside of social games. A growing number of Koreans are using apps and online platforms for their daily needs like banking transactions and making purchases, giving new business chances to major local telec

Jan 1, 2013By Kim Yoo-chul
KT to expand 'vitrual goods' business
Tech & Science

How will patent feud unfold in 2013?

Samsung growing confident in showdown with AppleBy Kim Yoo-chulSamsung’s Galaxy SIIIApple’s iPhone 5The year 2012 will be remembered as the time when the exploding global market for mobile Internet devices like smartphones and touch-screen tablets boiled down to a duopoly between Samsung Electronics and Apple. Samsung hopes to use the New Year to gain the upper hand in the showdown of technology giants. Samsung, the world’s largest maker of mobile phones, televisions and computer memory chips, is considered the only serious challenger to Apple’s supremacy in consumer mobile devices. While the Korean company has already trounced its California-based rival in volume thanks to its vast lineup of handsets, it could be said that Apple still holds the nuclear bombs in the immensely popular iPhones and iPads.Officials at Samsung insist that this will be the year when the country’s influence begins to catch up to its sales total. The company is inspired by the global buzz created by its two most recent smartphones, Galaxy Note 2 and Galaxy S3, and vows to follow

Dec 31, 2012By Kim Yoo-chul
How will patent feud unfold in 2013?
Tech & Science

Oversupply to hit Samsung, LG Display

By Kim Yoo-chulKorea’s major display manufacturers Samsung and LG Display are facing a bumpier road in 2013 as they will have to cope with deepening oversupply issues caused by Chinese firms’ expansion of liquid crystal display (LCD) production.``The Chinese government is giving substantial help to its leading LCD suppliers as Beijing still believes subsidy programs are going to push consumption in the domestic market. That’s why major Chinese LCD makers are expanding their facilities,’’ said unnamed officials from the South Korean finance ministry by telephone, Friday. Despite the bearish market, leading Chinese LCD suppliers including the largest BOE and CSOT have been expanding outputs helped by increased subsidies for appliances by Beijing.According to foreign media, BOE of China decided to invest $5.3 billion to build its third eighth-generation LCD plant through investment. The new plant will go on-line from the second quarter of 2015, while CSOT plans to expand its annual LCD capacity.Chinese firms’ move to expand production is expected to w

Dec 31, 2012By Kim Yoo-chul
Tech & Science

STX tries hard to rebound

The headquarters of STX in downtown SeoulInvestors split over future of shipbuilding conglomerateKang Duk-sooSTX chairman By Kim Yoo-chulMid-tier conglomerate STX went through tough times this year due to severe cash shortage but is seeking a turnaround in 2013 after securing cash by offloading cash-cow units.Market analysts have mixed views for STX. Some say that its bold move will help the conglomerate get back on track, while others counter that it will continue struggling to stay afloat due to the unfavorable business environment.``STX will pay back the maturing 1.22 trillion won in debt with proceeds from the sale of its core assets. The ongoing restructuring of affiliates will help investors improve their sentiment on STX-related stocks from next year,’’ said Shinhan Financial analyst Byun Jeong-hye in a note to clients.STX officials admit that it will be difficult for the group to ensure stable management of the shipbuilding and shipping businesses without drastic measures. They stressed the group will try to regain market confidence through restructuring.The

Dec 30, 2012By Kim Yoo-chul
STX tries hard to rebound
Tech & Science

4th mobile carrier to be named in Feb.

By Kim Yoo-chulThe nation’s telecom regulator will name a fourth mobile carrier in February.The Korea Communications Commission (KCC) said Thursday that Korea Mobile Internet (KMI) and Internet Space Time (IST) have both submitted applications for mobile business licenses. It will allocate a 2.5-gigahertz radio frequency block for the fourth service provider.``We really want to stimulate competition among firms by inviting a new wireless carrier in the sector. We fully acknowledge what consumers want. We will go ahead with our plan as scheduled,’’ said an official from the government agency asking not to be identified.The two bidders are expected to face cutthroat competition in the bidding process because they believe the license will help them create sizable revenue amid the rising consumer demand for cheaper telecom services with help from the government.``IST has applied for a license to offer cellular access based on WiBro networks, the local variant of mobile WiMAX, by forming a strategic partnership with a Taiwanese chipmaker. We have starting capital of 700

Dec 27, 2012By Kim Yoo-chul
Others

Galaxy Note2 wows consumers

By Kim Yoo-chulSamsung Galaxy Note2Samsung Electronics’ latest phablet, the Galaxy Note II is a stylish, powerful and revolutionary consumer device that provides its users with creative choices.The Note II has a bigger display screen than Samsung’s most advanced smartphone ― the Galaxy S III. But the extra display equipped with a stylus known as the S Pen is a perfect fit with consumer demand for vivid images and real-time clips.Simply put, the Note II is a massive modern smartphone, but in a market full of choices, being bigger doesn’t necessarily matter. Many were initially skeptical about whether the majority of consumers would really want their main phone to be so ``big’’. But one simple fact ― over 10 million Notes were sold ― indicating that there is a market for this class of device.Impressed by the success of the Notes, Samsung is ready to roll out another model ― tentatively named the Galaxy Note III ― at some time within the next year.  In terms of hardware specifications, the Note 2 is state of the art. It packs a

Dec 26, 2012By Kim Yoo-chul
Galaxy Note2 wows consumers
Tech & Science

KT seeks to buy Maroc Telecom

By Kim Yoo-chulTelecommunications giant KT said Wednesday that it has submitted a preliminary bid to buy a controlling stake in Maroc Telecom, Moroco’s biggest mobile carrier.The Korean company’s biding came after France’s Vivendi announced it will sell its 53 percent stake in Maroc for about $7.3 billion. KT spokeswoman said the bidding is non-binding, adding the company will make a final bid after watching moves by other parties showing interest in the Moroccan firm.France Telecom, Qatar’s Qtel and Etisalat are other potential bidders for Vivendi’s stakes, said managers from investment banks in Seoul. ``We are interested in expanding our presence in Africa. Making a direct investment in a leading telecommunications firm in that continent is a good strategy for us to find new and attractive business chances. But KT won’t make a hasty decision on the Maroc deal because we’ve learned from the Telkom case,’’ said a senior KT executive by telephone.KT aims to earn 4 trillion won overseas in 2015 to account for 10 percent of its entir

Dec 26, 2012By Kim Yoo-chul
Tech & Science

Samsung seeks Ericsson ban

By Kim Yoo-chulSamsung Electronics has countersued Ericsson to seek a sales ban on some of the Sweden-based telecom equipment giant’s products in the United States.The Korean technology giant said Wednesday that it filed a complaint against Ericsson with the United States International Trade Commission (USITC), asking a complete import and sales ban on Ericsson’s products. The firm has accused Ericsson of breaching seven of its patents,The action taken Friday by Samsung came after Ericsson requested an ITC U.S. import ban on products and sued the Korean firm for patent infringement.Samsung spokesman Park Han-yong said the Suwon, Gyeonggi Province-based outfit is doing its best to defend consumer rights for varied products by countersuing the Swedish telecom equipment maker.``No one in the industry would underestimate Samsung’s ability to become a significant player, if not the leader, in a new segment of the overall market for telecommunications hardware. This certainly adds a more strategic dimension to the Ericsson-Samsung dispute,’’ wrote Florian Muel

Dec 26, 2012By Kim Yoo-chul
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