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KT forms alliance with Jeju

By Kim Yoo-chul JEJU ISLAND ― KT, the nation’s top telecommunications company, has formed a strategic alliance with South Korea’s southern resort island of Jeju to help the island be named as one of the New7Wonders of Nature. Jeju is one of 28 finalists competing for the crown. Other rivals include the Great Barrier Reef, the Galapagos Islands and Mount Kilimanjaro. The final selection will be announced November. In support KT has finished installing mobile Wi-Fi services along major streets and key tourist attractions on Jeju with an investment of some 19 billion won. KT insisted that the partnership with the island is part of its nationwide construction of WiBro 4G networks. It has already built up a variant of its mobile Wi-Fi service called WiBro in 82 regional cities to respond to the growing demand for mobile wireless data in the era of smart devices. ``The number of visitors to the island by the end of the year will exceed 10 million from 7.5 million in 2010. Amid the rise, KT will provide advanced mobile wireless data services and that will also help Jej

Apr 26, 2011By Kim Yoo-chul
  • CEO raps anti-market policy
Companies

CEO raps anti-market policy

By Kim Yoo-chul JEJU ISLAND ― KT slammed the government Tuesday for pressuring mobile carriers to cut their charges. KT Chairman Lee Suk-chae's comments came after the Korea Communications Commission (KCC) put pressure on telecom companies to lower their phone charges. ``KT should upgrade fixed- and mobile-converged networks by investing consistently. We want a fair return to secure room for investments and a better future,’’ he said in a meeting with reporters in the southernmost resort island of Jeju. Lee was here to sign an alliance with the island’s authorities to complete an island-wide 4G WiBro service. ``KT’s wireless data traffic will exceed 6,000 terabytes. We need to make consistent investment,’’ the chairman said. “Users who are consuming the data should pay,’’ he added. Lee, who is also leading KT’s strategic shift, questioned the wisdom of a recent evaluation on call quality conducted by the KCC. ``Why doesn’t the KCC take the iPhone 4 for a review?’’ Lee said.

Apr 26, 2011By Kim Yoo-chul
Companies

Samsung bites back at Apple with lawsuit

By Kim Yoo-chul Fighting talk is flying left and right between Samsung Electronics and Apple over the ingenuity of their mobile gadgets as the technology sector braces for its next patent battle. Just days after Apple filed a patent infringement suit against Samsung, accusing the company of "slavishly" copying the look and feel of the immensely-popular iPhones and iPads, Samsung fired back Friday with its own lawsuit. Samsung's lawsuits against Apple were filed simultaneously in Korea, Japan and Germany, with the Korean firm accusing its rival of using some of its patented technologies without consent in designing the latest iPhones and iPads. Samsung's complaint filed with the Seoul Central District Court claimed infringement of five of its patents, while the lawsuits in Tokyo and Mannheim involved two and three patents, respectively. The technologies are related to wireless connectivity, data transmissions and power controls, company officials said. "Samsung is responding actively to the legal action taken against us in order to protect our intellectual propert

Apr 22, 2011By Kim Yoo-chul
Companies

Samsung faces greater challenge globally

By Kim Yoo-chul Samsung Electronics Chairman Lee Kun-hee said Thursday that his firm is facing a greater global challenge in proportion to its growth. “Samsung is facing a challenge from not just its competitors in the electronics field but also in other areas,” Lee told reporters at the firm’s headquarters in southern Seoul. He made the comment in response to a question aboutpatent lawsuits filed by Apple against Samsung. Lee worked at his office in the building in Seocho-dong, southern Seoul for the first time since the company moved its headquarters, and paid a surprise visit to the child daycare center there. Lee usually does business from his home office. Samsung moved to the Secho-dong office in 2008. Apple said that Samsung had “crossed the line,” in filing its lawsuits against a wide range of Samsung’s mobile products. Samsung said that it plans to countersue. Samsung broadened its patent portfolio in 2010 and analysts and officials say that it was clear that a patent battle between Apple and Samsung was inevitable. Lee said he was briefed by top

Apr 21, 2011By Kim Yoo-chul
Tech & Science

LG seeking to acquire healthcare firm

By Kim Yoo-chul LG Electronics is looking to acquire a firm in healthcare-related fields, a company official said Wednesday. ``LG’s top executives have reached a consensus for the necessity of acquisition deals for new profit sources. The target will be in the healthcare business,’’ said the source, asking not to be named. LG is trying to inject more resources to diversify its business portfolios amid competition with its rivals in the intensive consumer electronics market. Water and air purifiers, which are more like business-to-consumer (B2C) products, are one of the key priorities for LG. In contrast, Samsung is focusing more on business-to-business (B2B)-linked healthcare businesses such as medical equipment. An LG Electronics spokesman said an acquisition deal is one option for external growth in its home appliance businesses. ``Mergers and acquisitions (M&A) might be a possibility as mid- and long-term strategies to strengthen LG’s home appliance businesses,’’ added the spokesman without elaborating further. The plan comes after LG is releasing its strategi

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

LG Chem share price soaring to record high

By Kim Yoo-chul LG Chem had a good year last year. If its stock price can be taken as a bellwether for this year’s outlook, it could be even better in 2011. Analysts and financial market watchers sum it up as a bull run. Shares of LG Chem rose over 30 percent in the previous two months, according to the Korea Exchange (KRX). Foreign investors are particularly excited, raising their exposure toward 35 percent. LG generates over 50 percent of its revenue from petrochemical-related businesses, while strengthening its new areas of batteries, LCD glass and polysilicon. LG Chem currently supplies rechargeable batteries for electric vehicles to 10 global carmakers including General Motors, Ford, Renault and Hyundai-Kia. Deutsche Securities and Bank of America Merrill Lynch have revised up their targets for LG Chem. ``LG’s LCD glass business will add to our corporate value. Our target price is 580,000 won per share,’’ BoA Merrill Lynch said in a research note to clients. The company’s shares closed up 29,000 won at 549,000. Daiwa Securities revised up its o

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

Lawsuit displays Apples sense of urgency

By Kim Yoo-chul Is Apple feeling threatened by Samsung Electronics' advances into the market of the latest "smart" devices? Apple's sweeping patent lawsuit the Korean electronics behemoth comes at a time when Samsung is going toe to toe, head to head with Apple in the entire range of products. Experts say that, from a circumstantial point of view at least, Apple sees now as a high time to give all it has and discourage Samsung’s advancement. ``That lawsuit is good evidence that shows Apple’s sense of urgency about Samsung,” said Prof. Lee Jong-su, a media critic at Hanyang University. Samsung’s Galaxy S is the only smartphone that has exceeded 10 million in unit sales, besides iPhone. Apple’s lawsuit came only a week before the scheduled unveiling of Galaxy S II. At the same time, Samsung’s Galaxy Tab tablet computer is often dubbed as the only alternative to iPad. ``Samsung is a fast learner. Its Tab 2 design shows it,’’ Lee said. Samsung is apparently a key target of Apple CEO Steve Jobs. Jobs put Samsung into the league of copycats and also blamed S

Apr 19, 2011By Kim Yoo-chul
Companies

Samsung to countersue Apple over patents

By Kim Yoo-chul In reaction to Apple’s patent suit filed in a U.S. court, Samsung Electronics said Tuesday that it plans to countersue. “Samsung will sue Apple back,” said spokesman Kevin Jeong, Tuesday. The iPhone maker argued in papers submitted to the U.S. Court for the Northern District in California that Samsung copied its tablet iPad computer and its smartphone. The suit came a week before the unveiling of Samsung’s Galaxy S II smartphone. Samsung’s legal team is already in action, gearing up for a review of possible infringement of Samsung’s intellectual property by Apple. Although Jeong declined to comment, some Samsung officials said that the Korean electronics giant is in for the long haul. The court website showed Apple is complaining about what it claims is Samsung’s sweeping copying of iPhone products. “Rather than innovate and develop its own technology and a unique Samsung style for its smartphone products and computer tablets, Samsung chose to copy Apple’s technology, user interface and innovative style in these infringing products,” Apple said

Apr 19, 2011By Kim Yoo-chul
  • Lawsuit displays Apples sense of urgency
  • Samsung targeted in Apples offensive against Android
Tech & Science

LG Display forecasts prompt turnaround

By Kim Yoo-chul LG Display, which only trails Samsung Electronics in the global liquid crystal display (LCD) sector, extended operating losses for the second straight quarter, hit by a steep panel price fall. But the display-manufacturing unit predicts a turnaround in terms of profit during the current quarter, saying film-type patterned retarder (FPR) 3D screens and displays for tablet PCs will increase revenue. During the first three months of this year, LG Display suffered from 239 billion won in operating loss, a drop from the 789 billion won it earned from a year earlier, it said in a regulatory filing to the Korea Exchange (KRX). ``LG’s operating loss for the first quarter was widely expected because the first quarter is seasonally unfavorable for all LCD makers,’’ said Frank Lee, a spokesman from LG Display. The LCD industry is cyclical and volatile according to macro-economic situations. The second and third quarters are usually the peak times for LCD makers as they receive more orders from set-makers ahead of the back-to-school season in North America and

Apr 18, 2011By Kim Yoo-chul
Tech & Science

Samsung focuses on new growth engines

By Kim Yoo-chul Samsung Electronics is set to unload unprofitable businesses to capitalize instead in industries with higher potential. This strategy transition takes place as Samsung is pressured to better nurture its next earnings drivers amid stalling growth of its representative items such as smartphones, tablets and televisions. With its Galaxy-branded smartphones and tablets as part of it armory, Samsung hopes to cut Apple’s firm lead in the respective segments, however, results have been subpar as the Korean technology giant suffers from flattening sales growth in key markets including North America, according to officials. ``Samsung will secure its bottom line with just chips and LCDs as it has controlling power in the cyclical component businesses, however, Samsung’s future is subject to the power of engagement in what’s next,’’ said a senior fund manager at a Europe-based investment bank in Seoul, asking not to be identified, Monday. ``Samsung is regarded as a fast-follower not as a market creator. What Samsung needs is to implement so-called `selection and c

Apr 18, 2011By Kim Yoo-chul
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