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Samsung hopes China will help soften crisis

By Kim Yoo-chul Samsung Electronics is preparing to make China the new center of its activities, hoping that a strengthened position in the world’s fastest-growing economy will provide a cushion to absorb business rockiness in shell-shocked nations in the West. To explore new business opportunities Choi Gee-sung, the former Samsung Electronics CEO who was recently promoted to overall strategy chief of Samsung Group, accompanied chief operating officer (COO) Lee Jay-yong, the son and heir apparent to Chairman Lee Kun-hee, on a trip to China. Although company officials declined to reveal details of the visit, the two met and talked with Chinese Vice Premier Li Keqiang. A company insider told The Korea Times that the Samsung executives hoped to talk about strengthening investment in China, including bulking up a semiconductor plant currently in the works in Xian. Also among topics is the state-of-the-art liquid crystal display (LCD) line in Suzhou that Samsung is building as Chang Won-kie, an executive with a wealth of experience in LCD also traveled with them. ``Market

Jun 13, 2012By Kim Yoo-chul
Tech & Science

Olympus fires Korea head for embezzlement

By Kim Yoo-chul Olympus Corp., a leading Japanese camera and medical equipment maker, said Tuesday that it had dismissed its Korea chief Bang Il-seok for alleged embezzlement and breach of duty, on June 6. The firm plans to sue the disgraced former chief executive of its Korean operation. Olympus headquarters in Japan has already sent an audit team to Seoul and the team is in the middle of carrying out an independent investigation to find ``critical evidences’’ associated with his wrongdoing. ``It’s true that Bang was fired last week. We don’t know yet who will be the next chief executive to lead Olympus Korea,’’ said Cho Hye-young, the head of public relations there by telephone, Tuesday. Cho confirmed that the Korean office has been under deep scrutiny by the audit team since last week. The spokeswoman declined to confirm whether or not Bang was being investigated over direct involvement in stealing company money. But Olympus insiders said the audit team is wrapping up its internal probe as it has secured enough documents and files to prove his misconduct. The of

Jun 12, 2012By Kim Yoo-chul
Tech & Science

Samsung to offer Facebook-like service

By Kim Yoo-chul Samsung Electronics is expected to make a foray into the social network service (SNS) market early next year by introducing a Facebook-like service, according to Samsung officials, Tuesday. They said that the electronics giant is developing a social networking service it hopes could eventually compete with Facebook. The new website will be accessible on a wide variety of Internet-capable devices, including cameras and televisions. The company, which competes with Apple for global supremacy in smartphones and touch-screen tablets, has been investing more efforts to strengthen the software and content side of its business. It has been buoyed by the acceptance of its mobile chat application, ChatOn, available not only on Samsung devices, but products made by rivals Apple and Research In Motion (RIM). But social media has been fueling the explosive demand for mobile Internet devices and has always been its main focus. Software experts at Samsung have a framework to build on in Family Story, a social networking service with an emphasis on photo sharing, cha

Jun 12, 2012By Kim Yoo-chul
Tech & Science

Sony Korea leads eco-friendly campaign

By Kim Yoo-chul Japan’s consumer electronics giant Sony is transforming itself into an eco-friendly company. In Korea, Sony is closely collaborating with local government to push its ``green initiatives.’’ Sony Korea, led by President Itoki Kimihiro, has been launching various campaigns with government agencies in an attempt to raise consumers’ awareness for ``green initiatives.’’ The efforts have so far been effective. The company was awarded by the Korean government for its consistent efforts to cut carbon emissions. In 2009 and 2010, Sony was the sole foreign firm in Korea, which joined an ``Eco Tree Campaign’’ with Seoul. ``At Sony headquarters and global branches, we will take back any of our products and recycle them in the most responsible manner,’’ said senior Sony Korea spokeswoman Hong Ji-eun, Tuesday. Hong said ``We make it, We take it back’’ was Sony’s top policy since 1995 and the policy was effective in Korea as well. ``This will help us reach our Road to Zero goal. Sony will try harder to remain the frontrunner,’’ said the spokeswoman. Sony is still i

Jun 12, 2012By Kim Yoo-chul
Tech & Science

Going into emergency mode

LG Electronics plans cuts in TVs, smartphones By Kim Yoo-chul Korea’s major players are retooling business plans and strategies with the eurozone crisis spinning out of control amid mounting economic uncertainties due to a slowdown in the United States and China. LG Electronics, the world’s second-biggest manufacturer of flat-screen televisions, is planning to cut its earlier targets on strategic products including smartphones and televisions for this year amid the prolonged global economic downturn. Cross-town rival, Samsung Electronics, is mulling possibilities to restructure key businesses in Europe and other developed nations, though the Korean electronics duo are still confidant of overcoming the difficulties, said officials from the companies. ``LG Electronics’ key decision makers are currently in deep discussions over the intensity of production cuts in Europe as the situation isn’t favorable,’’ said a high-ranking LG Electronics executive in a phone interview with The Korea Times, Monday. The executive added LG Electronics, which has been seeing a mild recov

Jun 12, 2012By Kim Yoo-chul
Tech & Science

Nexon, NC join hands to rule game industry

By Kim Yoo-chul After Nexon became the largest shareholder of NCsoft by acquiring a 14.7 percent stake in it, attention is turning to why the two long-time rivals in the domestic game industry have joined hands and what steps they will now take. Although there is speculation following the acquisition, many experts believe that the alliance aims to cope with the expansion of global game firms such as Blizzard and become a leading company worldwide. Nexon is the nation’s No. 1 game firm, while NCsoft is just behind. Blizzard is gaining more influence after unveiling its latest game Diablo III. On Friday, Nexon said that its founder Kim

Jun 10, 2012By Kim Yoo-chul
Tech & Science

SK hynix partners with IBM for chips

By Kim Yoo-chul SK hynix said Sunday it has formed a strategic alliance with International Business Machines Corp. (IBM) of the United States for the joint development of phase-change random access memory (PcRAM), widely considered as the next-generation of memory chips. IBM is an American multinational technology firm that manufactures and sells computer hardware and software. The alliance reflects desperate efforts to develop highly-advanced chips amid the rising popularity of smartphones and tablets. The firm believes that it cannot survive with the existing chips ― NAND flash and DRAMs, which are expected to become obsolete in the next few years. ``The latest collaboration will help us strengthen our capability to better compete with rivals in the next-generation chips,’’ said Song Hyeon-jeong, head of the company’s future strategy office. PcRAM is a type of non-volatile memory chip and it uses the unique property of chalcogenide glass, which is already used in recordable CDs, to switch between two states. PcRAM can store a lot of data but is slower than conventio

Jun 10, 2012By Kim Yoo-chul
Companies

Samsung to get even with Apple

By Kim Yoo-chul A global patent expert has said Samsung Electronics will counterattack Apple’s plan to file a lawsuit in the United States asking for a sales ban on the Korean firm’s latest smartphone once the next iPhone is unveiled. “There’s no question that Samsung will pay back in kind, and the iPhone 5 will definitely be a priority target,” said noted patent blogger Florian Mueller in an email interview with The Korea Times. Mueller is well-versed in patent law and founder of the Foss Patents website. He has been closely monitoring the Samsung-Apple dispute. The interview was conducted after Samsung Electronics announced its plan to push for the sale of its latest Galaxy SIII in the United States despite Apple’s threat. The new Galaxy was launched in 28 countries in Europe and the Middle East in May. “Samsung’s product innovation cycles are way faster than the U.S. legal system. Apple filed for an injunction against the Nexus phone in February but by now the Galaxy SIII looks like a much hotter product. Apple is well aware of the incredibly high levels of pre-lau

Jun 8, 2012By Kim Yoo-chul
Tech & Science

Doosan Group goes paperless with iPad

By Kim Yoo-chul Doosan Group Chairman Park Yong-maan is a chief executive who quickly adapts to change. He frequently tweets the public and tries out new technologies to stay ahead of the pack. In this spirit of adaptation and innovation, Park is now trying to make Korea’s oldest conglomerate become a paperless operation in a bid to reduce costs and improve work efficiency. Park, known as a fan of Apple iProducts, bought and distributed Apple’s new iPad to 250 executives and employees, according to group officials. In Korea, the unit price for the 32GB model is close to 600,000 won (about $500) before subsidies from carriers and monthly data plans. The group plans to give all employees the latest iPads once the move proves to be efficient. ``Discussions about the group’s key pending issues are already underway through the given iPads. We are unfamiliar with the new discussion and reporting systems. But it looks cool because in a paper-heavy office, documents are spread out over several filing cabinets in several different rooms,’’ said a Doosan official. Doosan spokes

Jun 8, 2012By Kim Yoo-chul
Tech & Science

Samsung to build new chip line

By Kim Yoo-chul Samsung Electronics said Thursday it will invest 2.25 trillion won to build a new domestic chip-making line. It aims to boost its output for advanced mobile processors for use in tablets and smartphones. The world’s biggest computer memory chip supplier said the new line, located in Hwaseong, Gyeeonggi Province, will go into operation in the latter half of next year in a statement. ``The new chip-making facility will produce 12-inch-sized wafers by using highly-advanced 14- and 20-nanometer processing technology, ’’ company spokesman Ken Noh said. The new investment plan comes after Samsung shifted to profitable, less-volatile mobile processors. Unlike memory chips, which are used to read, write and store data, mobile processors are used to control entire computing systems. Samsung is currently supplying mobile processors to top technology giants such as iPhone maker Apple as well as using them in its own products. ``The new chip line will help us produce valuable chips on a stable basis,’’ said the spokesman. The company recently announced plans to

Jun 7, 2012By Kim Yoo-chul
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