The Korea Times

GE looking at Korean firms for M&A

By Kim Yoo-chul General Electric (GE) is looking at Korean companies for a possible acquisition deal aimed at bolstering its presence here, according to the new CEO of GE Korea. ``We aren’t ruling out the possibility of expanding our business in Korea via various acquisition deals. I am controlling a special unit inside GE Korea that handles investment, acquisition and joint-venture related issues,’’ CEO Khang Sung-wook told reporters at a news conference in Seoul, Wednesday. Khang declined to unveil the names of the companies that he is looking at. But officials say some healthcare-related companies could be targets as the executive stressed that GE Korea will put more focus on healthcare-related businesses. The remarks come after GE Healthcare signed an agreement to acquire Xcellerex. The latest deal will help GE expand its healthcare products and services for the manufacturing of biopharmaceuticals such as recombinant proteins, antibodies and vaccines. GE had earlier been involved in various healthcare-related projects with Samsung Electronics. Now, the new GE Korea

Mar 14, 2012By Kim Yoo-chul

Tech & Science

SK-Hynix plans to make chips in China

By Kim Yoo-chul SK-Hynix, the world’s second-biggest manufacturer of computer memory chips, plans to build a new NAND flash memory factory in China. Amid an explosive growth for high-end digital devices such as tablets and a positive outlook for further demand, top decision-makers of Hynix and SK have reached a broad consensus for the needs to build the new facility. Hynix runs a factory to produce low-end dynamic random access memory (DRAM) chips in Wuxi, Jiangsu Province. The factory has a solid combination of Hynix’s Korean managers and Chinese workers. ``Hynix has no reason not to build a new NAND flash chip line in Wuxi. Because the plant is on an expansionary track, the Chinese plant will receive more investment,’’ said Kwon Oh-chul, co-CEO of Hynix, in a meeting with reporters, Tuesday. The firm will officially be renamed as SK-Hynix after a board meeting, slated for later this month. Kwon said the Wuxi plant has been doing well financially since its establishment and added Hynix regards the plant as a new growth engine. ``But I will discuss this issue wi

Mar 13, 2012By Kim Yoo-chul

Tech & Science

Koo preaches about ‘smart grid world‘

By Kim Yoo-chul The government needs to invest more money in smart grid technology and to grant more subsidies to help related projects get off the ground. Smart grids will help alleviate concerns about the cyclical impact of energy prices on competitiveness by both reducing peak demand and enabling expanded use of renewable energy resources, according to analysts and officials. Korea has started to use its money a little more wisely, and will invest over $15 billion by 2016 to capture 30 percent of the global smart grid market. The lofty economic goals include a projected 50,000 annual jobs created, $43 billion in lower energy imports and $3 billion in reduced power generation costs. ``It’s no exaggeration to say that Korea has taken off on smart grids. The smart grid industry has high growth potential and is actually growing. Seoul needs to be proactive,’’ said the head of the Korea Smart Grid Association (KSGA), in a recent interview with The Korea Times. Koo Ja-kyun, chief executive of LSIS, has been leading the business lobby group over the last few years. Ko

Mar 12, 2012By Kim Yoo-chul

Tech & Science

Smart grid - magic bullet solution

Korea faces pro-or-con choice and decision time approaching By Kim Yoo-chul Korea has emerged as a powerhouse in many sectors ranging from shipbuilding, automobiles, steel manufacturing and consumer electronic devices, powered by the nation’s prowess in implementing advanced technology. With its rapid awareness and the scarcity of natural resources ― Korea imports all of its coal, oil and gas ― the nation is looking to focus on ``energy-saving systems’’ to prevent damage to its global competitiveness from external factors. One new solution lies in a major initiative in ``smart grid technology’’ in line with the government’s steady spending for green growth. A smart grid additionally utilizes wind and solar power, allows people to more easily report technical problems such as power outages and defends itself against cyber-attacks. If there were disruptions to the grid, like a power outage, it would isolate the problem to allow everyone else to get back up and running faster until the issue is resolved In conjunction with green power sources, smart grids use batte

Mar 12, 2012By Kim Yoo-chul

Tech & Science

LSIS develops HDVC valves

By Kim Yoo-chul LSIS, Korea’s leading electrical parts maker, has successfully developed suspended-type thyristor valves, the company said Monday. No other Korean firms have been successful in thos. ``LSIS has begun increasing the output of thyristor valves used in high-voltage direct current transmission or HDVC systems from our plant in the port city of Busan, Korea,’’ said company spokesman Kim Dae-seong. The firm can now compete in a market dominated by Siemens of Germany and Alstom of France. Thyristor valves form the heart of the HVDC conversion process. Modern valves have an excellent performance record and very small losses. They do the actual conversion from alternating current (AC) to direct current (DC). Kim said the thyristor valves developed by the company can be used for a 200-megawatt system. ``The development means Korea has finally reached to make the valve on its own. LSIS plans to export the valves, though we can’t name potential clients due to the sensitivity of the issue,’’ he said. HVDC requires a transmission distance of at least 750 kilom

Mar 12, 2012By Kim Yoo-chul

Tech & Science

Lee’s stocks worth over W10. tril.

By Kim Yoo-chul Samsung Electronics Chairman Lee Kun-hee’s stockholdings surpassed 10 trillion won or $8.9 billion, an online chaebol watcher said Sunday. ``Samsung Chairman Lee’s stocks were worth 10.1 trillion won as of last week,’’ Chaebul.com said in a statement. Lee has retained his status as the richest man in Korea. ``The rise was due to the value of stocks of Samsung Electronics, Samsung Life Insurance and Samsung C&T,’’ it said. Lee holds a 3.38 percent stake in Samsung Electronics, the world’s biggest technology company, 20.76 percent in Samsung Life Insurance and 1.37 percent of Samsung C&T, it said. Last week, Samsung Electronics closed at a record high of 1.23 million won per share, while Samsung Life Insurance and Samsung C&T finished at 91,400 won and 75,700 won, respectively. The value of stock holdings by Lee surpassed 1 trillion won at the end of 2002 and soared to 9 trillion won as of May 2010 as Samsung Life Insurance was listed on the nation’s major stock market. The value of stock held by Hong Ra-hee, Lee’s wife, rose to 1.33 trillion

Mar 11, 2012By Kim Yoo-chul

Tech & Science

Samsung‘s parts sales to Apple edge towards $11 bil.

Samsung confident Apple will maintain 'partnership' By Kim Yoo-chul Despite ongoing patent battles in the courts, Apple is planning to buy parts worth a record $11 billion from Samsung Electronics this year, an official from Apple's one Korea-based parts supplier said Sunday. Rumors about the exact amount hover above $9 billion, up from $7.8 billion last year. ``The amount of the current contract is around $9.7 billion," the official said, adding that the popularity of Apple products lines the pockets of Samsung as well. He said that the amount may go up to $11 billion, depending on the demand for Apple products. The official asked not to be identified, which is not surprising. The procurement will reach a new annual record. The amount is expected to increase until at least 2014 under the current terms of their contract. Apple will buy chips from Samsung for its new iPads with Long-Term Evolution (LTE). ``The contract is expected to rise to $11 billion by the end of this year as Apple is planning to release a smaller iPad, probably with a 7.85-inch s

Mar 11, 2012By Kim Yoo-chul

Tech & Science

Tough sailing for new iPad here?

Korea left off Apple’s initial sales list as Samsung prepares new lawsuit By Kim Yoo-chul Apple's new retina display iPad is generating massive hype but industry observers say the device may face a difficult challenge in Korea. Its bitter rival Samsung Electronics, which is in a widening patent dispute with Apple over mobile technologies, plans to file a fresh lawsuit here that may affect consumer access to the new iPad. And while Apple predictably left Korea off its initial sales list for its new tablet, adjusting it for the Korean market could take longer than for its previous mobile devices due to differences in radio frequencies. Apple will release the new iPad in North America, France, Japan, Switzerland and Britain on March 16, before providing it to other countries on its list on March 23. Apple and Samsung have brought a slew of lawsuits against each other since April last year, when Apple accused its Korean rival of ``slavishly’’ copying the look and feel of iPhones and iPads in its Galaxy series of smartphones and tablets. Samsung responded with c

Mar 9, 2012By Kim Yoo-chul

Tech & Science

LG Group chairman’s leadership in OLED

By Kim Yoo-chul LG Group Chairman Koo Bon-moo Thursday has asked his top lieutenants to release highly-advanced, ultra-thin televisions ahead of LG Electronics’ internal schedule. ``LG should enjoy more first-mover advantages in the rising organic light-emitting diode (OLED) TV area. I want to see LG’s fine-tuned OLED TVs as early as possible,’’ Koo told senior executives group affiliates at an internal event in Daejeon, South Chungcheong Province. LG Electronics, the group’s flagship, is turning to OLED technology to effectively expand during the transition from analog to digital televisions. The conglomerates’ top executives believe that will help it better compete with long-time rival Samsung Electronics. LG Electronics is planning to release a 55-inch OLED TV sometime in the latter half of this year, according to company spokesman Yoon Won-il. But Yoon declined to give any further details such as the timing of its release. Koo also asked flat-screen making affiliate LG Display to speed up the development of OLED panels using cost-cutting technologies to better

Mar 8, 2012By Kim Yoo-chul

Tech & Science

Samsung says ’no compromise’ with Apple

By Kim Yoo-chul Samsung Electronics is showing no signs of compromising with Apple in their patent dispute; rather, the company appears ready to go for broke in what it increasingly sees as a do-or-die battle. “No compromise!’’ Shin Jong-kyun, the head of the firm’s telecommunication division, told The Korea Times Wednesday after a meeting of senior company officials. Shin’s comment followed reports that Apple offered Samsung a cross-licensing deal to end their patent dispute. The report said Apple offered a licensing deal ranging from $5 to $15 per device sold as a means of settling the pending litigation. The devices include the iPhone 3GS, iPhone 4 and iPad. Shin’s confirmation if Samsung’s stance came as a surprise because the company has been pushed into a corner in a string of unfavorable rulings, although signs of it are easy to find. Its budget for the patent fight has been increased to over $260 million this year from $200 million, according to sources familiar with the matter. However, Shin didn’t comment on whether the two engaged in talks for

Mar 7, 2012By Kim Yoo-chul

Kim Yoo-chul

Read more

GE looking at Korean firms for M&A

SK-Hynix plans to make chips in China

Koo preaches about ‘smart grid world‘

Smart grid - magic bullet solution

LSIS develops HDVC valves

Lee’s stocks worth over W10. tril.

Samsung‘s parts sales to Apple edge towards $11 bil.

Tough sailing for new iPad here?

LG Group chairman’s leadership in OLED

Samsung says ’no compromise’ with Apple

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