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KT to cut rates, unsure by how much

President Pyo promises updated billing system By Kim Yoo-chul KT, the nation’s second-biggest wireless operator, has confirmed its much-awaited plan to cut mobile rates but it fell short of providing details on the scope and timeline of the measure. Pyo Hyun-myung, president of KT’s mobile business unit, told a press conference Thursday that the company will come up with a new billing system offering discounts, but refused to elaborate. KT has been expected to trim its mobile charges after market leader SK Telecom opted to shave 1,000 won (around $0.9) off monthly fees for its customers starting in September. ``KT is in the process of introducing updated billing plans to our customers. We are in talks with the Korea Communications Commission (KCC) with regard to the new plans,’’ said Pyo, who is regarded as KT Chairman Lee Suk-chae’s right-hand man. ``It’s a customer-oriented market. Because SK Telecom did it, we should follow. The upcoming billing plans are geared toward lessening our clients’ burdens on telecom service charges," the executive told reporters in d

Jul 28, 2011By Kim Yoo-chul
Tech & Science

Samsung under tax probe

By Kim Yoo-chul The National Tax Service (NTS) is investigating Samsung Electronics, the Korean technology giant, over suspected tax evasion by its senior executives, sources said Thursday. About 30 Samsung Electronics executives are targeted in the probe, which may eventually spread to other Korea Inc. heavyweights as tax authorities take a harder look at suspicions involving unpaid taxes, an NTS source said. A Samsung Electronics official confirmed that company executives were being investigated. NTS Commissioner Lee Hyun-dong earlier this month vowed to hit the country’s chaebol, or family-owned conglomerates, that allegedly have been beating the tax system in innovative ways, and unlawfully transferring more corporate wealth to their founding families. ``We will put particular focus on whether Samsung Electronics has made any illegally moves during its transactions with affiliates and parts suppliers, similar to the way conglomerates have created slush funds in the past, ‘’ said an NTS official, adding that firm’s transactions with its foreign clients will also

Jul 28, 2011By Kim Yoo-chul
Tech & Science

For LG, the worst may be over

By Kim Yoo-chul LG Electronics is hoping the worst is over. The electronics giant wants a fresh start in the next quarter and signs show it may just get its wish. It has trimmed losses in its crippled mobile handset business. The second-quarter performance showed it largely beat expectations. Immediately after the announcement, its stock went up Wednesday. Its component affiliate, LG Innotek, has seen a turnaround in terms of operating profit in the second quarter of this year from the previous one, raising expectations that LG Group’s electronic businesses will be stabilized in upcoming quarters. On Wednesday, the Seoul-based LG Electronics reported 158 billion won in operating profit during the April-June period, a 25 percent increase over the same period of last year, because its handset business rapidly trimmed losses and its TV division returned to profit, according to its regulatory filing. ``LG Electronics fared well despite slower demand for consumer electronics amid the recent global economic recovery. The second half will even be better than the first b

Jul 27, 2011By Kim Yoo-chul
Tech & Science

LG Chem gets another US deal

By Kim Yoo-chul LG Chem, Korea’s top chemicals maker, has secured another springboard to further boost its growing battery business through another lucrative deal to develop a self-contained lithium-ion battery pack for electric vehicles in the United States. The news comes after LG Chem chief executive Kim Bahn-suk spoke positively about achieving 300 billion won in revenue in batteries for electric vehicles this year. On Tuesday, the United States Advanced Battery Consortium (USABC), an organization whose members are Chrysler, Ford and General Motors, awarded LG a $9.6 million contract to develop advanced battery technology in Troy, Mich. This is the fourth time LG Chem has won a contract with USABC since landing a similar project in 2004 that was worth $4.6 million. The latest deal is for LG Chem, one of LG Group’s critical earnings drivers, to develop a thermally-managed battery system for plug-in hybrid electric vehicle applications by the end of 2013. The project is to be co-funded by the U.S. Department of Energy (DOE) and includes a 50 percent cost share b

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

Meteoric rise owed to merit system

Since December 2009, Shin Jong-kyun has been handling the telecommunications division at Samsung Electronics. He was born on Jan. 16, 1956 and earned a bachelor’s degree in electronic engineering from Kwangwoon University in Seoul. The executive has over 20 years of experience in handset development and Shin, along with current Samsung CEO Choi Gee-sung, has significantly helped Samsung Electronics rise to become the second-biggest handset manufacturer after Nokia. With the successful launch of the Samsung Galaxy S and recent update the Galaxy S II under Shin’s reign, Samsung has emerged as the sole contender to break Apple’s lead in the global smartphone market. Shin, also in charge of Samsung’s network business division, was given the task of handling Samsung’s camera unit in a recent rare mid-year reshuffle, resulting in the executive boosting his influence within the top Samsung community.

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

Shin takes Samsung’s fight to core of Apple

Mobile chief makes it a rule to keep an engineer’s mindset By Kim Yoo-chul Apple’s iPhone almost took his corporate life. Samsung’s mobile chief Shin Jong-kyun not only survived but is turning the tables to making a flourishing career out of the Korean conglomerate’s “Down with Apple, down with Jobs” efforts. The 55-year-old’s weapon of choice is none other than the Galaxy, Samsung’s smartphone and tablet computer. As expected from the fight against the icon of the times and one of the most profitable firms, things are tough to say the least. It is also complicated, considering Apple is one of the key buyers of Samsung’s semiconductors. ``He’s a really hard worker. With diligence, aggressiveness and a well-deserved manner, Shin is well known as a bulldozer in terms of his personality,’’ said an unnamed official from Samsung’s handset business. The mobile chief rarely takes vacations and the engineer-turned-executive spends more than 120 days overseas to monitor Samsung's key overseas client channels. Shin is not really talkative, leading him to be known

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

Samsung denies hiring ex-Acer CEO

By Kim Yoo-chul Samsung Electronics denied rumors Sunday that it had hired the former chief executive of Taiwan-based computer giant maker Acer to join its laptop computer division. Gianfranco Lanci, an Italian who doubles as an influential personal computer (PC) industry figure, left Acer in March. Lanci’s contract with Acer reportedly included a provision that prohibits him from joining other electronics firms for a specific period of time after departing. ``It’s groundless as we have never considered Lanci,’’ said Samsung spokesman Shin Young-june, Sunday. Acer’s Korean officials refused to comment. Acer is one of the world’s leading brands in portable PCs, a market where Samsung has struggled to elevate itself from the crowd of also-rans. However, industry sources believe that the Lanci-to-Samsung rumors still have legs as Samsung CEO Choi Gee-sung has been looking for new personnel to boost the company’s PC division. Bringing Lanci on board of course would be a risky move for Samsung. Although they compete in finished products, they are more like fri

Jul 25, 2011By Kim Yoo-chul
Tech & Science

LG Chem plans to boost spending on poly-silicon

By Kim Yoo-chul LG Chem, one of the world’s leading suppliers of chemicals and car batteries, is looking to diversify its business lineup by carving out a niche in the expanding market for solar-cell products and technology. LG Chem CEO Kim Bahn-suk says the production of poly-silicon, a key material used in solar cells, and glasses for liquid crystal display (LCD) screens will combine as new revenue sources that will complement the company’s fast-growing businesses in rechargeable batteries and stereoscopic imaging technology. LG Chem recently posted a disappointing second-quarter, showing that it was badly exposed to seasonal volatility, but Kim said the setback wasn’t affecting the company’s aggressive expansion. ``In batteries for electric vehicles, we are positive to reap 300 billion won in revenue by the end of this year helped by the steadily growing sales of electric vehicles in advanced markets overseas,’’ said Kim. The company expects to generate 4 trillion won (about $3.8 billion) from its car battery business by the end of 2015, when it aims to have a mark

Jul 25, 2011By Kim Yoo-chul
Tech & Science

Can 3D TV makers tackle eye fatigue?

Samsung-initiated UC Berkeley study bares problems By Kim Yoo-chul Samsung and LG Electronics are addressing possible health issues facing viewers of 3D televisions. The two are leaders in a shift in television technology so it is natural that they want to resolve any additional problems for viewers in order to kindle their 3D appetite. A study published by the Journal of Vision last week that was funded in part by Samsung’s research and development (R&D) arm claimed 3D screens are not good for one’s health. A team from the University of California, Berkeley has found that when test subjects watched 3D TV, they reported a greater intensity of eye strain and fatigue and a stiffer drop in vision clarity than when they watched regular content. The UC Berkeley study attributes the symptoms to the disparity between the depth of the screen and the depth of the 3D image as causing the most problems, though researchers also found the relationship between image depth and nearness of the screen also played a role in eye strain. Twenty-four participants in the study were

Jul 25, 2011By Kim Yoo-chul
Tech & Science

LG to hire 4,000 more by year’s end

By Kim Yoo-chul LG Group plans to employ 4,000 more people in the second-part of the year, after adding more than 13,000 new workers through June. The hiring drive comes at a time when the group faces intensifying competition with Samsung Electronics in mobile devices, consumer electronics and renewable energy. Companies here have also been pressed by the Lee Myung-bak government to invest and hire more as policymakers grow concerned about rising unemployment and stalling economic activity. LG, which controls global technology powerhouses LG Electronics, LG Display, LG Chem and LG Innotek, said that 900 of the new jobs will be filled by recruiting college graduates, while the remaining spots will be saved for experts including research and development (R&D) personnel. ``Research staff members will account for 25 percent or 1,000 of the new workers because it’s critical we strengthen our technological edge in our main and new businesses,’’ said LG spokesman Jung Jeong-wook. At the end of the year, LG’s technology-related units like LG Electronics, LG Display and

Jul 25, 2011By Kim Yoo-chul
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