my timesThe Korea Times

Kim Yoo-chul

Korea Times Business Reporter

Go to Email

Read more

Tech & Science

Kumho Petro to graduate from 'debt workout' in Q3

By Kim Yoo-chul Kumho Petrochemical has confirmed a plan to leave its debt workout program in the third quarter of this year after management reached a broad consensus for early graduation. In June 2009, the state-run Korea Development Bank (KDB) and other creditor banks agreed to put the company under supervision to improve its financial soundness and normalize operations, meaning that KDB, as the lead creditor, has control over all aspects of its operations. The company signed an agreement to join the debt rescheduling program, under which its executives managed the company in consultation with creditor banks. ``We expect to graduate from the current program in the third quarter of this year. We are confident that we will meet key conditions for an early graduation,’’ said Cho Kyu-jeong, head of the company’s public relations, by telephone, Thursday. ``Time is ripe for boosting our corporate awareness. It’s likely that our CEO Park Chan-koo will hold a press conference in the third quarter to talk about new business strategies,’’ said Cho. This is the first tim

Jun 7, 2012By Kim Yoo-chul
Tech & Science

Samsung changes 2 top officials

Conglomerate adopts emergency footing By Kim Yoo-chul Samsung Electronics said Thursday that its CEO and Vice Chairman Choi Gee-sung will serve as the head of the group’s future strategy planning division, which will make him the top secretary and right-hand man of Group Chairman Lee Kun-hee. Kwon Oh-hyun, who has been the head of Samsung Electronics’ parts division, including its semiconductor and liquid crystal display (LCD) businesses, will be promoted to CEO of Samsung Electronics, replacing Choi. The appointments are widely seen as the group’s preliminary move to adopt an

Jun 7, 2012By Kim Yoo-chul
Tech & Science

Why does Samsung fight with Apple?

By Kim Yoo-chul With Samsung Electronics and Apple failing to find a compromise over a patent battle, attention is being paid to what action they will take next in the complex legal dispute. Many expect that neither will take a hard-line stance because many of the lawsuits are so interweaved that no one will emerge as an absolute winner if they continue. Judge Lucy Koh, who’s in charge of the case in the U.S., ordered Samsung Electronics CEO Choi Gee-sung to meet with Apple CEO Tim Cook. They talked for about 16 hours on May 21 and 22, but failed to find middle ground leaving market participants questioning whether the two will ever sign a peace treaty. “In businesses, there are no eternal corporate enemies or friends. There are always disputes and compromise. Samsung and Apple are looking for the right timing and right country for a sudden announcement to end the fight because if either lose, then the defeated one would face similar lawsuits,” an industry source said. Samsung is likely to look for “good excuses” to end the dispute, but according to reliable insiders

Jun 6, 2012By Kim Yoo-chul
Tech & Science

Samsung employs more foreigners than Koreans

By Kim Yoo-chul Samsung Electronics revealed that more foreign employees were hired to work for the global technology giant and undisputed kingpin of Korea Inc., than Korean ones. The world’s largest producer of flat-screen televisions, mobile phones and computer memory chips, said that non-Koreans accounted for 54 percent of some 221,700 workers employed worldwide at the end of last year. It was the first time that Korean nationals at the company were outnumbered by their international colleagues. As it cements its status among the true industrial mammoths in world business, Samsung has been employing an increasing number of workers as its activities spread to virtually every corner of the planet. A global feel is also evident at the company’s Korean base in Suwon, Gyeonggi Province, where engineers and workers from India, Pakistan, Ukraine and Russia are frequently seen. Samsung has long been hiring talent from developed nations like Europe and North America, places which continue to be key markets for consumer electronics and mobile phones. The company is now rec

Jun 6, 2012By Kim Yoo-chul
Tech & Science

LG issues 215 mil. Swiss franc bonds

By Kim Yoo-chul LG Electronics said Wednesday that it has successfully issued Swiss franc-denominated corporate bonds worth about 263 billion won (215 million Swiss francs) with a maturity of four years and five months. Coupon rates were 2 percent, which LG officials believe is ``quite low’’ and the maturity schedule has been set for December 2016, according to LG in a statement. Company spokeswoman Na Joo-young said this is the first time that an Asian company has issued bonds based on the Swiss franc since 1996. In times of economic and financial strife, big companies and investors inevitably seek to transfer funds to less volatile currencies, happy to accept lower returns to protect their principal capital from shrinking. The Swiss franc is one of the safe haven currencies that has attracted an unwanted volume of foreign investment since the start of the financial crisis. LG said money raised by selling the bonds will be used to pay off debt. ``LG Electronics will diversify fund-sourcing channels,’’ said the company spokeswoman. The company held business road-sho

Jun 6, 2012By Kim Yoo-chul
Tech & Science

Mobile carriers urge KCC to block Kakao's free phone service

By Kim Yoo-chul The domestic mobile carriers ― SK Telecom, KT and LG Uplus ― are expected to urge the telecommunications regulator to block Kakao Talk’s free voice service, which started here Tuesday. They claim that the free call service offered by the nation’s most popular mobile messenger service provider could deal a mortal blow to them. However, the Korea Communications Commission (KCC) has remained aloof to the complaints, saying that the free service is within legal boundaries. Mobile phone carriers are struggling to cope with declining voice business and poor returns from their massive investments in data networks despite the exploding popularity of smartphones and touch-screen tablets, with the dominant mobile operating systems run by Apple and Google compromising their control of content value chains. Kakao Talk has more than 35 million Korean customers, who have downloaded its app for free chatting and photo sharing. It adding voice over Internet protocol (VoIP) functions is a nightmare for industry leader SK Telecom, which is also concerned about an overloaded

Jun 6, 2012By Kim Yoo-chul
Tech & Science

LG to sell 50,000 OLED TVs in 2012

By Kim Yoo-chul LG Electronics, the world’s second-biggest flat-screen television maker, plans to produce and sell 50,000 55-inch organic light-emitting diode (OLED) televisions this year, a senior company executive said, Tuesday. The executive, who is directly involved with the matter, told The Korea Times it will sell the premium sets that cost $10,000 each to ``target customers’’ in key markets such as the Middle East, Europe and the United States, as well as Singapore and Australia. The executive said the 50,000 sets are equal to less than 1 percent of the overall market share because OLED televisions are still at an infant stage. Moreover, LG Electronics’ display-making affiliate LG Display will start supplying OLED screens from the latter half, meaning LG will have a limited time to market the televisions. ``LG doesn’t expect huge demand for OLED televisions over the next few years. But we need to send clear signals to our royal clients that we have qualified and proven technology in the next-generation sets,’’ said the executive in a brief meeting in Seoul. Th

Jun 5, 2012By Kim Yoo-chul
Tech & Science

KT suffers S. African setback

By Kim Yoo-chul Korean telecommunications giant KT is bailing from an initial plan to acquire a significant stake in South Africa’s biggest fixed-line telephony company, sources said Sunday. KT had earlier announced intentions to buy 20 percent of Telkom, but now numerous sources at the company admit that the plans are being reconsidered. The South African government has been cold on the potential KT-Telkom deal as the companies continued to argue over the share acquisition price. Telkom’s unionized workers have been opposing the deal as well. Should the deal fall through, it will serve as another hit to investors’ confidence in KT as it continues to struggle to cope with slowing business momentum in the saturated Korean telecommunications market, and find sustainable success overseas. KT had planned to send 100 workers to Telkom, which was one of the conditions set by the South African carrier, to share its experience and know-how in mobile telephony and the Internet. KT has been desperately searching for growth opportunities in developing regions such as Africa a

Jun 4, 2012By Kim Yoo-chul
Tech & Science

LSIS, Hyosung involved in $600 mil. legal feud

By Kim Yoo-chul Two South Korean mid-tier conglomerates ― LSIS and Hyosung ― are involved in a 700 billion won ($600 million) legal feud after police issued an arrest warrant to a former Hyosung executive who moved to LSIS. On Monday, LSIS said it will sue Hyosung which insisted the executive stole key confidential data in favor of LSIS. Hyosung claimed the case is an apparent industrial espionage and also a technology leaking. ``It doesn’t make any sense. Police are still investigating the case. We will sue Hyosung. This is totally groundless that LSIS is using Hyosung’s key technologies. The former Hyosung executive voluntarily moved to LSIS,’’ said LSIS spokesman Kim Bong-kyu in a statement. Kim said the company led by the Chief Executive Koo Ja-kyun will fully cooperate with the police for the investigation. The Hyosung executive was suspected of recording key management data such as Hyosung’s business plans about high-voltage direct current (HVDC) electric power transmission system and controllers that had been stored on his PC. The executive quit Hyosung in June

Jun 4, 2012By Kim Yoo-chul
Tech & Science

Samsung, LG bid for Malaysian project

By Kim Yoo-chul Korea’s electronics majors ― Samsung and LG ― have separately been bidding for an infrastructure project in Malaysia to get the upper hand in the promising market, according to officials from both companies, Monday. But it is not likely to be easy for Korean players to win the contract as global rivals, such as Siemens, Alcatel-Lucent and Mitsubishi are also competing, officials said. Samsung SDS, Samsung’s system solutions affiliate, said Monday that it was recently named as one of the pre-qualified firms to participate in the main bidding for Malaysia’s mass rapid transit (MRT) project. The Malaysian government has received applications for the Sungai Buloh-Kajang MRT line from both local and foreign firms. This is the country’s largest infrastructure project to date, worth about $11.5 billion. The project includes electric trains, depot work and equipment maintenance, signaling and train control systems and power supply and distribution systems. Samsung or LG would participate as a system solutions provider. LG CNS, Samsung SDS’ biggest rival,

Jun 4, 2012By Kim Yoo-chul
previous page
210211212213214
next page

Top 5 stories

Korea Times
About Us
Introduction
History
Contact Us
Products & Services
Subscribe
E-paper
RSS Service
Content Sales
Site Map
Policy
Code of Ethics
Ombudsman
Privacy Policy
Youth Protection Policy
Terms of Service
Copyright Policy
Family Site
Hankookilbo
Dongwha Group
FacebookXYoutubeInstagram
CEO & Publisher: Oh Young-jinDigital News Email: webmaster@koreatimes.co.krTel: 02-724-2114Online newspaper registration No: 서울,아52844Date of registration: 2020.02.05Masthead: The Korea TimesCopyright © koreatimes.co.kr. All rights reserved.