The Korea Times

Samsung expected to hit record profit in Q1

By Kim Yoo-chul Samsung Electronics is thought to have improved its bottom line to record levels in the first quarter. This is due to strong smartphone sales and a recovery in parts businesses such as memory chips and flat screens. The market consensus is that the firm’s operating profit will be around 6 trillion won during the first three months of this year, beating its previous record of 5.2 trillion won in the fourth quarter of last year. Specifically, Citibank says Samsung will reap ``historically high’’ profits during the first quarter, while JPMorgan is more optimistic as the investment bank expects Samsung’s operating income will surpass 6 trillion won during the January-March period. In addition, the bullish run of Apple on the New York bourse is having positive effects on its major Korean suppliers like Samsung Electronics. Apple is projected to buy $11 billion worth of Samsung parts in 2012, up from $7.8 billion last year. The Korean firm also says it will set a new record in the first quarter although they refused to confirm whether it would be higher tha

Mar 29, 2012By Kim Yoo-chul

Tech & Science

Will Google ‘Koreanize‘ privacy policy?

By Kim Yoo-chul U.S. Internet giant Google is in talks with telecommunications regulators here over the possibilities of tweaking its privacy policy for Korean users to abide with local laws, several industry sources said. It remains to be seen how willing Google is to change its policy for Koreans, particularly as it has been serious about avoiding country-specific rules and implementing the same conditions to customers across the world. Under Google’s new privacy policy introduced in January, private data collected by one Google service can be shared with other platforms, including Gmail, YouTube and Blogger. However, the Korea Communications Commission (KCC) has recommended Google revise its policy, claiming it infringes on the legal rights of Koreans who have had more control over how their data is collected and used. According to officials at Google Korea, it is considering the recommendations seriously, KCC officials told The Korea Times. KCC officials confirmed talks with Google although declined to comment on the specific adjustments they demanded. Go

Mar 29, 2012By Kim Yoo-chul

Tech & Science

LSIS active in Iraq rebuilding

By Kim Yoo-chul LSIS, a leading provider of electric power and automation equipment, is exploiting business opportunities provided by the rebuilding efforts in war-torn Iraq. Its CEO Koo Ja-kyun met Amer Abdul Majeed, Iraq’s vice minister of electricity, at the company’s headquarters in Anyang, Gyeonggi Province, Tuesday, where they discussed a broad range of projects, company officials said. ``Koo invited the Iraqi vice minister during his visit to Iraq last year when we signed deals to build electricity substations there,’’ said LSIS spokesman Kim Dae-seong. Kim declined to comment on whether the company was in detailed discussions the Iraqi government over the possibility of building more substations. He did say that the company predicts an increase in the demand for substations in Iraq as it begins to construct more power plants and renew its electricity grids. LSIS has been enjoying growing business in Iraq over the years, driven in particular by increasing demand for its power transmission equipment and systems. Last year, it beat international bidders t

Mar 27, 2012By Kim Yoo-chul

Tech & Science

Samsung declares all-out war on Nokia

By Kim Yoo-chul Samsung Electronics has been fighting Apple over technology patents for mobile handsets and tablet computers. Now, it is facing off against Nokia, an important client for its flat screens, about price fixing allegations. Samsung said it would pursue without compromise a breach of trust case involving the Finnish firm. ``Samsung will appeal to a higher court in the United Kingdom as we aren’t involved in price-fixing for LCDs,’’ said company spokesman Cho Yong-woo. The Korean company is the world’s top supplier of LCD screens for use in almost all digital devices from TVs to handsets. They are used in strategic products by top firms including Apple, Nokia, Hewlett-Packard and Sony. A judge recently ruled in favor of Nokia in a London court, allowing the Finnish company to proceed with the price-fixing dispute that has been running since 2009. Samsung denied that it lost to Nokia after foreign media insisted that Hitachi Europe and Samsung lost their bids to have a U.K. court throw out an anti-trust lawsuit filed by Nokia over the creation of pri

Mar 27, 2012By Kim Yoo-chul

Tech & Science

LG pursuing 3D technology standard

LG Display starts operation of first Mexico plant By Kim Yoo-chul Three-dimensional (3D) technology is LG Electronics’ weapon of choice. Its aggressiveness to promote its in-house film-patterned retarder (FPR) 3D technology has secured another beachhead with a plant in Mexico. It is confidant of making its FPR 3D technology the industry standard. Inspired by a sharp rise in market share in countries from North and South America and the recent support from Japan’s Sony and Panasonic to use its technology, LG Display has opened its first plant in Mexico, mainly to produce modules for FPR 3D televisions. ``More customers are asking us to supply more FPR panels for use in 3D televisions. We just want to assert that LG is ideally-positioned for on-time delivery, committed to producing high quality products and offering better pricing by setting up a new factory in Mexico,’’ said LG Display spokeswoman Kang Moon-jeong. The new module plant is the seventh after two plants in South Korea in Gumi and Paju, three in China in Guangzhou, Nanjing and Yentai and one in Wroclaw,

Mar 27, 2012By Kim Yoo-chul

Tech & Science

With can-do spirit, Doosan outdoing itself

Confidence revved, $26 billion revenue targeted By Kim Yoo-chul Doosan Group, the nation’s oldest industrial conglomerate, aims to continue its impressive corporate history with consistent increases in sales volume. Last year was a watershed year, as Doosan Chairman Park Yong-hyun expanded production bases to target new markets and improved competitiveness in products and technologies. Other achievements for 2011 include establishing a full line-up of production systems to engage the Chinese market, including an excavator factory in Suzhou, China; constructing an excavator plant in Brazil; new customers in the South American market; and a contract for construction of Korea’s first coal-to-gas power plant. ``We have no doubt that Doosan will report better earnings,’’ Park said. The group has raised its revenue and sales targets. A complete departure from liquidity-related issues is helping it gain confidence and signs of economic recovery in key markets are also awakening idling demand for excavators, forklifts and other equipment used in heavy industries. Tw

Mar 27, 2012By Kim Yoo-chul

Tech & Science

SK hynix chief sees chemistry working

Chairman Chey keeps himself in charge despite trial By Kim Yoo-chul ICHEON, Gyeonggi Province - SK Group Chairman Chey Tae-won Monday said that Hynix is proving to be a winning fit with his conglomerate. Chey is sanguine not just about Hynix’s direct cooperation with SK Telecom, a leading mobile carrier, but about mutual benefits for the semiconductor maker and the group. SK bought Hynix as a bet for its future growth engine and named it SK hynix. He said Thailand Prime Minister Yingluck Shinawatra was briefed about the details of SK hynix’s advanced chip lines. “After the briefing, I discussed various pending issues such as the way to provide SK’s car batteries to electric vehicle manufacturers in Thailand. That’s synergy,’’ said Chey, who is also the co-CEO of SK hynix. SK offered a partnership with state enterprises in Thailand and Malaysia for joint investment in battery production for electric vehicles being manufactured by SK Innovation, which another of the group’s critical affiliates. ``I’m better-positioned than our pre-acquisition era to offer busines

Mar 26, 2012By Kim Yoo-chul

Books

Nazarbayev‘s leadership story published here

By Kim Yoo-chul One event on Sunday captured a neighborly relationship between Korea and Kazakhstan, made possible through mutual respect despite the geographical distance. Their respect is based on Korea’s successful economic model and Kazakhstan’s bold effort to remove its Soviet legacy and become nuclear-free. That was why the biography of Kazakhstan President Nursultan Nazarbayev was published in Korean and an event to mark the occasion was held Sunday in Seoul with a press conference with the British biography author. ``It’s true that the Kazakhstan President has a lot of charm, charisma and ``It’s true that the Kazakhstan President has a lot of charm, charisma and good sense of humor. I wrote the biography

Mar 26, 2012By Kim Yoo-chul

Tech & Science

LSIS earning stripes as innovative company

By Kim Yoo-chul LS Industrial Systems (LSIS), a leading provider of electric power and automation solutions, appears to be successfully exploiting the growing global market for green, low-power technology. Much of the credit goes to chief executive Koo Ja-kyun, who has added pace and purpose to the company’s efforts to rebuild itself for the future. Cities and companies across the world are beginning to benefit from the transition toward smart power grids, the modernized Web-enabled electricity networks that provide a high-tech way of monitoring supply and demand and coping with changing patterns of power activity, such as charging electric cars. And LSIS has been among the enablers of these technologies, offering comprehensive products and services designed to improve energy efficiency for homes, buildings, villages and transportation. General Motors has been a key customer, using the company’s recharger for electric vehicles. LSIS is also seeing increasing demand from governments and firms in the Middle East for its power distribution systems and stations. Th

Mar 25, 2012By Kim Yoo-chul

Companies

Peace comes where war was expected

‘Shareholders Day’ ends without any particular minority mutinies By Kim Yoo-chul It was peace that emerged from what was expected to be a tempest. Many firms held shareholders’ meetings Friday with controversies presaging nasty duels with minority shareholders. SK Group and Hanwha looked particularly vulnerable but virtually nothing happened. “This year wasn’t different. No big disputes and clashes were seen between top management and minor shareholders,” said an official from the Korea Chamber of Commerce and Industry (KCCI), Korea’s top business lobby group, Friday. March 23 was previously dubbed “Shareholders Day” with 672 listed companies holding their annual meetings. SK Group Chairman Chey Tae-won is being tried over embezzlement charges but the conglomerate is confident of his innocence, saying that the trial will clear him of any suspicions. Hanwha Group Chairman Kim Seung-youn was also charged with allegedly misusing corporate funds worth of 899 million won. For its failure to report this, the conglomerate was slapped with a one-day trading suspen

Mar 23, 2012By Kim Yoo-chul

Kim Yoo-chul

Read more

Samsung expected to hit record profit in Q1

Will Google ‘Koreanize‘ privacy policy?

LSIS active in Iraq rebuilding

Samsung declares all-out war on Nokia

LG pursuing 3D technology standard

With can-do spirit, Doosan outdoing itself

SK hynix chief sees chemistry working

Nazarbayev‘s leadership story published here

LSIS earning stripes as innovative company

Peace comes where war was expected

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