The Korea Times

Samsung leader displays confidence as global pacesetter

By Kim Yoo-chul LAS VEGAS - Samsung Electronics Chairman Lee Kun-hee rarely publicly praise his firm while his son, Jay-yong, its chief operating officer (COO), usually keeps a low media profile. Both broke from their usual behavior at the International Consumer Electronics Show (CES). They showed the company’s confidence as a global pacesetter in the rapidly-changing global electronics world, reflecting its new status. "Japan is losing vitality. Chinese companies are rising but they need more time to catch up with Samsung,’’ the senior Lee said Friday. He was educated in Japan and has been a strong advocate of Japanese business models. Even at the height of the Toyota debacle, Lee still stressed that there was much for Korea to learn from its neighbor, formerly the world's second largest economy. But his remarks come at a time when Samsung is emerging to replace Japanese firms as the global pacesetter. “I’m still concerned because our rivals will surge past Samsung in the next few years or within the next decade,” he went on to say,``Basically, our Galaxy ph

Jan 15, 2012By Kim Yoo-chul

Tech & Science

LG appliances see hope in US market recovery

By Kim Yoo-chul LAS VEGAS - LG Electronics expects a double-digit growth in home appliance spending in the United States, a good sign in a global economic landscape dimmed by European debt crisis. How to cope with this contrast is a challenge LG should take on in order to stay on the better side of the bottom line, said Shin Moon-beom, new president of LG’s home appliances division, during a news conference for Korean media here last week. ``Europe’s situation affects us negatively,’’ Shin said. “But we are seeing some signs of recovery in U.S. consumer spending.” He spoke on the sidelines of this year’s International Consumer Electronics Show (CES) in the U.S. desert city. The real estate market in the United States is improving, making LG think it will see double-digit growth in appliances this year. The United States is expected to take up 30 percent of LG’s revenue this year, though Shin declined to unveil its target for 2012. Macroeconomic moves are the barometer of gauging the profitability of almost all home appliances companies because consumers usually c

Jan 15, 2012By Kim Yoo-chul

Tech & Science

Samsung leader’s daughter in Las Vegas

TV chief aims over 50 million sales, SK denies deal By Kim Yoo-chul LAS VEGAS ― For Lee Seo-hyun, the youngest daughter of Samsung Electronics Chairman Lee Kun-hee, the ongoing technology fair in Las Vegas isn’t a familiar scenario. She is known for her fashion sense and knowledge of fashion-related industries and it’s believed she will appear at Samsung’s booth with her father, brother Lee Jay-yong and sister Lee Boo-jin. Seo-hyun graduated from Seoul Arts High School and then Parsons The New School for Design in New York. Despite her rather unique background inside the owner family of technology-driven Samsung, she is trying to boost her international profile. ``I already saw them,’’ Seo-hyun said during a tour of booths for Chinese companies guided by Samsung Electronics Consumer Electronics Division Chief Yoon Boo-keun. The remarks were regarded as criticism of copycat activities by Chinese TV majors, according to Samsung officials. This is a major change for Seo-hyun as Lee’s daughters had remained tight-lipped when they accompanied him to the International

Jan 12, 2012By Kim Yoo-chul

Tech & Science

CES organizers jilted by MS’s sudden bowout

By Kim Yoo-chul LAS VEGAS - Samsung Electronics and LG Electronics are hogging the limelight at the International Consumer Electronics Show (CES) in the U.S. desert city of Las Vegas. Company officials, journalists and general participants can see the Koreans’ strenuous effort for a migration of technology as at least they have a wow factor at the show, in large OLED televisions. Now, the Consumer Electronics Association (CEA), the event organizer, has given an official warm message to the Korean electronics majors. ``It’s really astonishing that this year’s CES has the industry’s new trend. Samsung and

Jan 12, 2012By Kim Yoo-chul

Companies

Samsung heir rubs shoulders with clients

By Kim Yoo-chul LAS VEGAS ― Samsung Electronics chief operating officer (COO) Lee Jay-yong is raising his international profile in Las Vegas. The only son of Samsung Electronics Chairman Lee Kun-hee said Wednesday that he will spend more time in strategic but closed-door meetings with the firm’s critical clients during his visit to this year’s International Consumer Electronics Show (CES). ``I came here to meet Samsung’s clients,’’ the COO told reporters. Lee was accompanied by the company’s chief executive Choi Gee-sung, consumer electronics division chief Yoon Boo-keun, and Shim Soo-ok, an executive vice president of its global marketing division. ``I have a full schedule until 10 p.m. today,’’ Lee said, without elaborating further. CES is the world’s most influential annual technology trade fair and the actual turnout is big, according to show officials. Samsung supplies chips and flat screens to almost all technology leaders around the world, including Apple despite ongoing legal battles over patents in 30 separate cases and 10 different countries. Hewlett-Pa

Jan 11, 2012By Kim Yoo-chul

Companies

LG picks Google over Apple for TV tie

By Kim Yoo-chul LAS VEGAS ― LG Electronics said it will rise as the winner in the global market for flat-screen televisions with 3D technology and stressed it will boost its strategic partnership with U.S.-based software giant Google. One critical factor to strengthen LG’s optimistic view for steady and faster proliferation of its in-house film-based 3D TVs is an increasing number of TV majors using its technology. ``Top-tier Japanese TV maker Panasonic is on our side and that means it has begun using LG’s film-based 3D TV technology, as well as Toshiba. I believe that’s an inspiring sign because more alliances mean more market share,’’ said LG’s television chief Kwon Hee-won, Wednesday (KST). A Panasonic representative declined to comment. LG has been narrowing the market gap with leader Samsung Electronics in 3D TVs despite late entry to the segment as its film-based technology is cheaper than its rival’s system. ``As far as I know, several Japanese TV makers are planning to release 3D TVs using our technology. We’ve been involved in business talks for further gr

Jan 11, 2012By Kim Yoo-chul

Companies

Samsung to invest $26 billion this year

By Kim Yoo-chul LAS VEGAS ― Samsung Electronics, the world’s top tech firm by revenue, plans to increase investments by over 10 percent this year, the company’s chief executive said Tuesday. The amount is estimated to total some $26 billion, the highest ever, and comes at a time when its competitors are struggling. ``Samsung will make landmark investments this year in facilities and the investment plan doesn’t include our spending for research and development (R&D),’’ Samsung CEO Choi Gee-sung said. Samsung confirmed that it will increase its investment for key facilities such as memory chips and flat-screens. In a regulatory filing to the Korea Exchange (KRX), Samsung said it had invested some 26 trillion won for facilities throughout 2011. Officials told The Korea Times that this year’s capital spending on facilities will reach at least 30 trillion won. ``Samsung is also set to invest more for R&D for 2012 as we are being asked to globalize our R&D capability,’’ Choi said in a dinner meeting with reporters held at the Las Vegas Country Club near the main venue of

Jan 10, 2012By Kim Yoo-chul

Tech & Science

After dismal year, LG Display upbeat for 2012

By Kim Yoo-chul LAS VEGAS - LG Display, the world’s largest producer of flat screens used in televisions, computers and phones, admits 2011 was a letdown in terms of profit. But the company’s new CEO Han Sang-beom likes his chances for a turnaround this year, with the prices of liquid crystal displays (LCDs) expected to stabilize in the coming months and the demand for large televisions and other LCD-based products likely picking up ahead of the London Olympics. ``The demand for televisions will rise due to major sporting events like the Olympics and Euro 2012,’’ he said at the sidelines of the Consumer Electronics Show in Las Vegas. Han, who recently replaced Kwon Young-soo at the helm, conceded that the company ultimately failed to achieve a turnaround in profit last year but stressed that things can only get better. He anticipates LCD prices will start to rebound in the latter part of the first quarter and also expects a boost from television makers looking to restock inventories ahead of new product announcements, which could be aplenty this year. LCD prices a

Jan 10, 2012By Kim Yoo-chul

Tech & Science

Prices repel consumers from OLED TVs

OLED TVs 'too pricey,' sending Sony to abandon the plan By Kim Yoo-chul LOS ANGELES - It seems to be truly bad news for major TV companies. But the bottom line is that consumers aren’t ready to buy flat-screen televisions using the latest organic light-emitting diode (OLED) technology. ``I’ve heard that OLED TV is the main theme of this year’s International Consumer Electronics Show (CES) in Las Vegas and it’s getting more attention. However, they’re too pricey,’’ said one shopper who only identified himself as Brian in a BestBuy store on Weyburn Avenue, late Monday. ``Consumers are worrying about money and with their budgets squeezed aren’t going to buy new digital goods,’’ he said. The world’s biggest television maker Samsung Electronics and runner-up LG Electronics are heavily promoting their large-sized OLED TVs in at CES, both believing they will be the next big thing in the global TV industry. ``I came to the store to buy a new LCD TV. LCD TV prices are drastically falling, giving me better chances. I have no deep knowledge of OLED televisions, though news r

Jan 10, 2012By Kim Yoo-chul

Tech & Science

CES draws global tech giants to Vegas

CES draws global technology giants to Las Vegas By Kim Yoo-chul LAS VEGAS ― The world's most influential technology exhibition has kicked off but this time the International Consumer Electronics Show (CES) is expected to see mixed responses. Almost all the major players on the planet including Korean duo Samsung Electronics and LG Electronics, Japan’s Panasonic and Sony, leading Chinese device makers, software companies such as Microsoft and component firms including Qualcomm and Intel are all set for the show. Hynix Semiconductor chief executive Kwon Oh-chul will be there to check the industry’s new trends and identify additional chances to expand its chip-related businesses. The chipmaker is supplying memory chips to Apple, Dell and Hewlett-Packard. Despite expectations of more companies and attendees, analysts and market officials are saying that no single device or technology has emerged to define the show. Show host the Consumer Electronics Association (CEA) is doing everything that it can to help the annual exhibition sustain the current bullish mode. This

Jan 9, 2012By Kim Yoo-chul

Kim Yoo-chul

Read more

Samsung leader displays confidence as global pacesetter

LG appliances see hope in US market recovery

Samsung leader’s daughter in Las Vegas

CES organizers jilted by MS’s sudden bowout

Samsung heir rubs shoulders with clients

LG picks Google over Apple for TV tie

Samsung to invest $26 billion this year

After dismal year, LG Display upbeat for 2012

Prices repel consumers from OLED TVs

CES draws global tech giants to Vegas

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