my timesThe Korea Times

Kim Yoo-chul

Korea Times Business Reporter

Go to Email

Read more

Tech & Science

Samsung terminates partnership with Sony

By Kim Yoo-chul Samsung Electronics is ending its alliance with Japan’s Sony on their joint LCD venture, after the Tokyo-based firm has consistently suffered from massive operating losses from its TV business. ``Samsung has agreed with Sony to buy its entire stake in the S-LCD joint venture for 1.08 trillion won,’’ Samsung spokesman Song Cheol-gyu said Monday. Since April 2004, Samsung and Sony have been operating two LCD-making facilities at Samsung’s manufacturing complex in Tangjeong, South Chungcheong Province. Sony holds a 50-percent stake in S-LCD in an attempt to secure stable supplies of the key parts. S-LCD generated 11.37 trillion won in revenue last year and the joint venture was mainly producing 40-inch LCDs for Samsung’s PAVV and Sony’s BRAVIA TVs. ``The termination of the venture comes two months after Sony officially requested to end the partnership in October,’’ Song said. The separation comes after Sony’s November announcement of a $2.2 billion annual loss in its TV division due to poor demand and a stronger yen. Sony chief executive Howard Stri

Dec 26, 2011By Kim Yoo-chul
Tech & Science

HTC most complaint-prone

By Kim Yoo-chul In just two years, over 20 million South Koreans, or about 40 percent of the total population, have purchased smartphones, one of the fastest adoption rates in the world. But there have been complaints by customers over after-sales policies and a delay of software upgrades from foreign firms compared to their domestic rivals in a nation which boasts over 94 percent Internet literacy. The Korea Consumer Agency (KCA) said it mediated 910 consumer complaints over handset-related issues, filed with it during the January-September period. This was up from 558 cases the government organization saw a year earlier.

Dec 26, 2011By Kim Yoo-chul
Tech & Science

Doosan proud of being good corporate citizen

By Kim Yoo-chul It’s no secret that corporate social responsibility (CSR) activities are a critical part of modern business. All top-tier companies globally claim to be socially responsible and that trend is also applied in exacting terms to big companies in South Korea with Doosan Group leading the way. CSR has become the top priority of the nation’s oldest industrial conglomerate. It is hiring more CSR experts and integrating CSR principles in its long-term strategy. One of the noticeable results is the launch of a new team, which only handles CSR activities. Since last year, the team has been coordinating programs with the group’s affiliates, said senior company spokesman Lee Jay-hyung. Oh Sae-wook, an executive managing director, is controlling the new team with a mission for developing and fine-tuning CSR. ``Doosan strongly believes that wherever we operate such programs, our activities should result in major economic benefits, opportunities and further enhance the quality of life of our partners locally and even outside the Korean Peninsula,’’ said Lee. `

Dec 20, 2011By Kim Yoo-chul
Tech & Science

Can New Zealand break Aussie, US stronghold on beef market?

By Kim Yoo-chul Will the growing popularity of New Zealand beef help revive a stalled free trade pact with Korea? From June 2009 to May last year, New Zealand and Korea had been involved in negotiations four times over a free trade agreement (FTA), however, the talks have failed to yield any significant results. New Zealand, which mainly exports beef and dairy products to Korea, was seemingly more than eager for the pact as it would help its dairy industry grow, officials said. Promotional body Beef and Lamb New Zealand (B+LNZ) is claiming it hopes to play a role as a private diplomat to help revive the stalled trade negotiations by capturing Korean taste buds. B+LNZ is a farmer-owned industry organization representing New Zealand’s sheep and cattle farmers. ``Our intention during 2012 in the Korean market is to continue to build on the efforts made in recent years to differentiate ‘NZ Nature-bred Beef’ from other products available, here,’’ said John Hundleby, B+LNZ Market Manager, Korea, in a recent interview with The Korea Times. The Korean market is the s

Dec 20, 2011By Kim Yoo-chul
Tech & Science

STX prioritizes global expansion

By Kim Yoo-chul Shipbuilding conglomerate STX Group is bullish about further bolstering its international presence but this time, mergers and acquisitions are not at the center of its plans. STX reaps over 90 percent of its total annual revenue outside the Korean Peninsula through shipbuilding, shipping, energy, raw material development, machinery and plant businesses from Europe and China to the Middle East. Chairman Kang Duk-soo is still positive of achieving its target of 120 trillion won, or some $100 billion, in revenue by the end of 2020 by expanding to natural resources development, plant-related businesses in emerging markets, as well as strengthening its existing areas. ``STX expects next year to be another challenging one. What we should do is seek stable growth with improving financial soundness to tackle any market uncertainties,’’ Kang said recently. In a meeting with some 200 STX executives to discuss the group’s fine-tuned business plans for next year, he asked them to stick with three criteria ― ship orders, profit-driven management and financial so

Dec 19, 2011By Kim Yoo-chul
Tech & Science

LG Chairman Koo Bon-moo sets up new growth strategy

By Kim Yoo-chul LG Group Chairman Koo Bon-moo finally seems to have found his updated strategies to help the nation’s leading industrial conglomerate continue on the course for sustainability. Koo’s magic word is ``battery,’’ according to LG officials. LG is one of Korea’s ``big four’’ with Samsung, SK and Hyundai Motor Group in terms of revenue. The recent year-end reshuffle on LG’s top management by chairman Koo included the naming of former LG Display chief executive Kwon Young-soo to be president of LG Chem’s rechargeable battery business,

Dec 16, 2011By Kim Yoo-chul
Tech & Science

LG Electronics eyes rebound

Tech giant vows to reduce handset, TV gap with rivals By Kim Yoo-chul This year has raised questions over whether LG has been doing well in its key handset and television businesses. However, the world’s second-biggest TV maker is looking for a winning streak to end next year. The groundwork has already begun, according to LG. Since LG Electronics returned control to a member of the founding family in Koo Bon-joon as CEO, the company has been focusing more on technology. One visible result is LG’s in-house three dimensional (3D) TV by using its film-patterned retarder (FPR) technology, also the result of collaboration with the group’s key affiliates including LG Display for panels, LG Chem for films, LG Innotek for parts and LG Electronics for televisions. LG fared well to secure its last bottom line throughout this year thanks to impressive sales of its premium TVs in China, Europe, North America and Korea, though its smartphone business is still struggling. Television chief Kwon Hee-won was the only executive within the entire LG community who became presiden

Dec 16, 2011By Kim Yoo-chul
Tech & Science

LG, SK in battery dispute

By Kim Yoo-chul LG Chem is embroiled in a law suit over a pivotal car battery function, which it calls the safety-reinforced separator (SRS) technology. The firm sued SK Innovation, seeking 100 million won in compensation, claiming a violation of its patent. The stakes for LG Chem and SK Innovation are higher than the amount of damages indicates. ``LG Chem is supplying lithium-ion batteries with SRS-oriented technology to leading overseas companies such as Motorola, Sony-Ericsson, Hewlett-Packard (HP) and

Dec 13, 2011By Kim Yoo-chul
Tech & Science

Apple’s rule of no sale put to test

By Kim Yoo-chul Sales of Apple’s latest release, the iPhone 4S, are stagnant. SK Telecom and KT, the nation’s iPhone vendors, are known to have guaranteed the sale of some 600,000 of the Apple smartphones by the end of this year since the device was launched on Nov. 3. Some online shops which have been selling the Apple device have recently cut its price by 230,000 won or some $200. Sources said customers are able to buy the 16-gigabyte iPhone 4S at 580,000 won, down from the suggested retail price of 814,000 won. The 64-GB model, whose original retail price was 1.07 million won, was selling to 840,000 won level. ``Although the discount includes a two-year contract, it is very rare because Apple has a tendency to maintain the prices of its key products despite any market situations,’’ said one official. The aggressive promotions by SK Telecom are also squeezing its biggest local rival, resulting in KT giving more subsidies to its local distributors and outlets. KT’s Olleh Shop has been selling the 16-GB iPhone 4S for 774,000 won, the 32-GB handset at 906,000 won

Dec 13, 2011By Kim Yoo-chul
Tech & Science

Samsung PR team gets nod for Apple fight

By Kim Yoo-chul In a year-end management shake-up of mid-ranking executives for Samsung Group, the promotion of Kim Joon-sik is as much a triumph for public relations (PR) executives. Kim is the first executive in Samsung’s entire history to retain the executive vice president position of Samsung Electronics’ Communications Team, which oversees Samsung’s PR-related strategies. ``Samsung should give more authority to PR staff members as we’ve been growing in terms of revenue all over the world,’’ said an company official. Samsung Electronics is the world’s biggest technology firm with annual revenue of 150 trillion won. Samsung also runs parts and `finished goods businesses. It is the world’s top maker of memory chips, flat screens, smartphones and televisions. The new executive vice president Kim joined Samsung in 1984 and from 1997 he worked for Samsung Group’s previous control tower. Since 2009, Kim has been the chief communications executive for Samsung Electronics as senior vice president. Kim is not the sole Samsung PR executive to be promoted. Han Kwang-sup,

Dec 13, 2011By Kim Yoo-chul
previous page
230231232233234
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.