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M&A frenzy

SK hynix takes over US LAMD to bolster NAND flash business By Kim Yoo-chul SK hynix has been in the limelight in the global M&A market after taking over two foreign companies in the past month, a move seen as SK Group’s attempt to foster the chipmaker as its growth engine. The bold move is in line with Chairman Chey Tae-won’s globalization drive under which the group is seeking to expand into U.S. and European markets. SK Telecom bought SK hynix, formerly Hynix Semiconductor, early this year. Chey has opted for an inorganic growth strategy to bolster the chipmaker so that it can catch up with its rivals and emerge as the group’s main growth engine. SK hynix said Wednesday that it bought a U.S.-based Link A Media Devices (LAMD) for 287 billion won. The deal allows it to completely acquire all patents owned by LAMD, which will become the company’s NAND-focused business unit. Expectations are that the latest acquisition will help SK hynix expand its NAND flash business ― it had a 24.6 percent global share of conventional DRAM memory chips in the fourth quarter of last

Jun 20, 2012By Kim Yoo-chul
Tech & Science

LG partners with Qualcomm to unveil new LTE phone

By Kim Yoo-chul LG Electronics is working together with Qualcomm to develop and release a new smartphone based on the U.S. company’s quad-core mobile processor, according to LG officials Tuesday. They said the joint project with Qualcomm is aimed at producing an LTE (long-term evolution) smartphone using a quad-core 1.5 gigahertz Qualcomm Snapdragon S4 Pro mobile processor that features an Adreno 320 graphics chip. The phone will be available in the fourth quarter at the latest. The officials said Qualcomm has already sent some test samples of the S4 processor to some handset manufacturers, including LG. Company spokesman said LG has been diversifying sourcing channels for parts. The Korean tech giant’s move is seen as an attempt to rebuild its relationship with Qualcomm after it suffered from a shortage of chips. LG Electronics is categorized as a “second-tier” business partner. The Korean company has been trying to strengthen its relationship to ensure a sufficient chip supply. Chief Financial Officer (CFO) Jeong Do-hyun said the impact of chip shortages at Qua

Jun 19, 2012By Kim Yoo-chul
Tech & Science

NCsoft braces for massive restructuring

By Kim Yoo-chul Computer games giant NCsoft is undergoing a major operations overhaul, shaving costs and terminating a slew of money-losing projects. Desperate attempts to reverse its sinking momentum through dramatic changes raise expectations that NCsoft, once the world’s leading publisher of online games, will be essentially reduced to a game-development studio of Nexon. Nexon recently acquired nearly 15 percent of its former archrival for around $688 million, taking 3.21 million shares previously held by NCsoft founder and CEO Kim Taek-jin. The slim-down efforts are also fueling speculation than an eventual absorption by Nexon could be on the way. NCsoft has built an business empire on role-playing action games such as its Lineage and Aion franchises, while Nexon’s strength is in casual games like car racing and shooting. ``The planned restructuring will be the biggest ever in our history. We have an urgent need to cut costs and improve profitability, while putting more focus on our core strengths,’’ said a company spokesman. The company will reduce nearly o

Jun 19, 2012By Kim Yoo-chul
Tech & Science

LG forms Smart TV alliance

By Kim Yoo-chul LG Electronics said Tuesday that it has formed an alliance with Japan’s Sharp and TP Vision, a former TV-making unit of the Dutch-based Philips Electronics, in a bid to take the lead in the smart TV market. The company said the partnership, named Smart TV Alliance, is expected to deliver converged multi-functional software for use in various Web-connected digital devices. Senior LG spokesman Yoon Won-il said the alliance is the first of its kind in the industry. LG insiders said that another Japanese company ― Toshiba ― will join the partnership very soon. Toshiba officials in Korea, however, declined to comment on the matter. LG said in a statement that the alliance will release an HTML5-based software development kit this month to application developers. The three companies have so far been partnering to create a common, open-standard-based app development platform that allows coders to create one version of their software to run on sets made by all three manufacturers. ``The alliance aims to further push developers to create a single app that will

Jun 19, 2012By Kim Yoo-chul
Tech & Science

Exploring untouched territory

KT ups reliance on corporate clients By Kim Yoo-chul KT has been increasing its dependence on corporate clients, following intense competition between existing rivals in the saturated local telecom market amid rising regulatory pressure. Along with industry leader SK Telecom, KT is seeking new revenue sources as investors believe that if the firm’s current stalling business situation worsens, there is a greater probability that it will further lose confidence in the stock markets, which will eventually hurt Chairman and CEO Lee Suk-chae’s leadership. Now, Lee Sang-hoon, head of the company’s enterprise customer group, is playing a key role in soothing such uncertainties. He is confident that the company will create more revenue from business with corporate customers. KT is leading the local market for corporate customers, which has helped it surpass local rivals in the business sector. ``KT is confident that it will achieve 4.5 trillion won in revenue from corporate clients by the end of this year,’’ said Lee Sang-hoon, who’s been managing KT’s business-to-business

Jun 19, 2012By Kim Yoo-chul
Tech & Science

LS Cable wins deal in France

By Kim Yoo-chul LS Cable, the nation’s biggest wire and cable maker, has taken another significant step to further boost its global business by securing a deal to build a power line in Europe. On Monday, the company said it has won an order from the state-owned Electricity of France (EDF) to build a high-voltage power cable line in the European country. In the statement, LS Cable said that the latest order requested by the French government is a first for a Korean cable manufacturer. Upon the agreement, the firm plans to construct a 5.5-kilometer, 225-kilovolt transmission line for a power plant called La Rance in northwestern France. It said the contract also calls for LS supplying the material for associated connectors, laying the cables and overseeing the overall project. EDF is the world’s No. 2 electric utility company and LS officials say the contract will help the Korean company boost brand awareness internationally as the French utility firm applies very tough standards in product quality. ``That’s why we understand the agreement as a testament for LS’s

Jun 18, 2012By Kim Yoo-chul
Tech & Science

New Samsung CEO not to reconcile with Apple

By Kim Yoo-chul With new CEO Kwon Oh-hyun taking the helm of Samsung Electronics, it is highly probable that the firm will undergo some changes in strategy, its business portfolio and the dispute with rival Apple. Samsung is expected to move to a low-key approach in pending issues, including the ongoing feud with Apple, given that the new chief executive is considered more prudent and less aggressive than his predecessor Choi Gee-sung. At his inauguration speech, Monday, he did not mention the legal feud directly, but hinted that his strategy will focus on stepping up the company’s competitiveness in software, an area that Apple has an edge over Samsung. The CEO said the global consumer electronics industry is currently at a ``major crossroads’’ urging employees to embrace uncertainty as a springboard for new growth. ``Samsung needs to improve its competitiveness in software, and is now at a crossroads. To become the top global technology company, we need to challenge and innovate continuously. I will give more authority to our employees for creative ideas,’’ he said.

Jun 18, 2012By Kim Yoo-chul
Tech & Science

Blackout hits Samsung

Power outage costs electronics giant 6 billion won By Kim Yoo-chul A sudden power outage at a key flat-screen facility in Tangjeong, South Chungcheong Province, Friday caused Samsung Electronics some 6 billion won in losses, according to company officials. The official cause for the blackout is not known but it is believed to stem from a problem with a transformer in the provincial city, according to Korea Electric Power Corp. (KEPCO). The company said in a statement that operations of four LCD-producing lines and one organic light-emitting diode (OLED) line stopped from 9:05 p.m. to 9:16 p.m. Thursday. Employees working on the lines were evacuated for a short time. Samsung Electronics shares lost 3.49 percent as investors took the stoppage as a negative factor. Morgan Stanley, Credit Suisse, Goldman Sachs and Merrill Lynch heavily unloaded Samsung shares on the nation’s main stock market Friday. Samsung Display operates the LCD lines, while Samsung Mobile Display (SMD), a joint venture between Samsung SDI and Samsung Electronics, runs the OLED line there. The

Jun 15, 2012By Kim Yoo-chul
Tech & Science

S&P cut ratings on KT, SK

By Kim Yoo-chul Standard and Poor’s Ratings Services (S&P) downgraded the credit ratings of Korea’s major telecommunications companies SK Telecom and KT, citing a potential threat posed by Kakao Talk’s free call service. S&P revised its outlook on KT to negative from stable. It explained the outlook revision reflects its expectation that a weak operating environment in the nation’s telecom industry will test KT’s performance over the next one-to-two years. ``We believe KT will face intensifying competition, uncertain regulatory conditions, and continuous declines in revenue in its fixed-line voice business,’’ said Park Jun-hong, a credit analyst at S&P. S&P believes that free mobile voice over Internet protocol (m-VoIP) services, such as that of Kakao Talk _ the most popular mobile messenger service in Korea _ could potentially threaten KT’s wireless and fixed-line voice revenue, it said in a statement. S&P gave favorable responses over stable growth in KT’s long-term evolution (LTE) customers and an improvement of performance in its pay-TV business. ``Despite the

Jun 15, 2012By Kim Yoo-chul
Tech & Science

KT, TongYang tie up for smart working

By Kim Yoo-chul KT said Wednesday that it will partner local systems solution company TongYang Systems to collaborate on various smart working-related projects. The two companies will build a smart working center at TongYang’s head office in Seoul, according to KT spokeswoman Kim Yoon-jeong. This is the first time that two private companies have formed an alliance to build a center providing smart working solutions. It on a tract of 80 square meters, will have rooms equipped with high-speed Internet, Wi-Fi connectivity and teleconference facilities, Kim said, adding the center will go on-line from August. The collaboration comes after KT has been investing heavily to strengthen its capability for smart work management systems under the company CEO Lee Suk-chae’s ``working smart’’ initiatives. KT has been working together with British Telecom (BT) of the United Kingdom, Microsoft, Cisco and other technology firms to help it acquire better know-how in smart working amid the digital convergence, according to the KT spokeswoman. KT is already running smart working cente

Jun 13, 2012By Kim Yoo-chul
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