my timesThe Korea Times

Kim Yoo-chul

Korea Times Business Reporter

Go to Email

Read more

Companies

LG Chem boost R&D efforts

By Kim Yoo-chul LG Chem, the nation's biggest chemical company is increasing research investment to remain ahead of the pack in areas such as rechargeable batteries. The firm announced Sunday that it would beef up its research and development (R&D) capacity by recruiting four executive-level leaders. The new faces will work on an incentive system. They will receive individual performance evaluations just once every three years, which the company said will improve long-term corporate competence. LG Chem, the top maker of hybrid lithium-ion batteries used in electric vehicles (EVs), also said that it plans to hire 500 R&D-focused employees this year, a double-digit percent rise from 2010, as LG also looks to continue its leadership in petrochemicals. ``R&D is now the focus for us. By introducing competitive reward systems, LG will allow R&D-related units and personnel more authority,’’ LG spokesman Song Choong-sup said. LG Chem is striving to aggressively raise its international profile by capitalizing on batteries amid global green initiatives. It currently has ei

Mar 6, 2011By Kim Yoo-chul
Tech & Science

LG, Sony expand talks over LCDs

By Kim Yoo-chul Flat-screen giant LG Display is in advanced talks with Sony to supply large-sized liquid crystal displays (LCDs) for the Japanese maker's high-end flat-screen televisions. Adding Sony to its premium list of customers would boost LG Display's attempt to overtake domestic rival Samsung Electronics for supremacy in the flat-screen industry. "We are negotiating with Sony to expand LCD supplies toward large-sized ones," LG Display chief executive officer (CEO) Kwon Young-soo said on the sidelines of a technology forum in Seoul, although refusing to discuss the details of the talks as the agreement hasn't been finalized. Hong Ji-eun, a Korean representative of Sony, declined to comment on the issue. In January, LG Display announced it has resumed delivering LCD products to Sony for the first time in more than six years. Although the first shipments consisted of panels used for screens in portable devices and small-to-mid-sized televisions in the 20- and 30-inch range, LG Display has been hoping to sell a wider variety of products to Sony. In expre

Mar 3, 2011By Kim Yoo-chul
Tech & Science

KT, Samsung end rivalry, start anew

By Kim Yoo-chul KT and Samsung Electronics are finding themselves closer, ending more than a year of animosity over KT's decision to introduce Apple's 3G-based iPhone, here. Sources say the gradual recovery in corporate partnership with the consumer electronics giant is providing more chances to the telecom company to better compete with its biggest local rival SK Telecom in smartphones and to advance towards network-related businesses amid the growth of data transmissions. A KT official said that it is purely business. Samsung officials confirmed its relationship with KT was being resumed.

Mar 3, 2011By Kim Yoo-chul
Companies

Samsung leaders son-in-law promoted

By Kim Yoo-chul Samsung Group Wednesday promoted Kim Jae-yeol, husband of Lee Seo-hyun, the second daughter of group leader Lee Kun-hee, to be the new president of Cheil Industries. The move comes three months after Kim was raised to the senior vice president position at Samsung’s apparel affiliate in last year's annual management reshuffle. Kim's wife currently serves as Cheil's vice president. Industry watchers say the recent promotion is "exceptional," though Samsung has recently been trying to form a younger management by promoting more youthful executives. Samsung said that Kim's promotion was due to other factors than management-related ones. "Kim was the sole candidate for the position at the Korea Skating Union (KSU). Because the head of a sports association is often taken up by a CEO-level executive, we followed this custom and decided to promote Kim," said Rhee In-yong, a chief communication officer at Samsung, in a media briefing held at its headquarters in southern Seoul. "Kim's promotion also reflects our respect for KSU," added Rhee. Samsung lead

Mar 2, 2011By Kim Yoo-chul
Companies

Samsung ventures into biomedical business

By Kim Yoo-chul Samsung Group said Friday it plans to build research centers and manufacturing facilities for biosimilars in a business alliance with Quintiles Transnational, a U.S. drug maker. With initial capital of some 300 billion won ($265 million) from Quintiles, Samsung Electronics and other units of the country’s No. 1 conglomerate, the buildings will be constructed in Songdo, a free economic zone in Incheon. Samsung Group will have a 90-percent stake in the joint venture, with 40 percent being owned by its electronics arm Samsung Electronics. The venture, which will be established this year, will start to produce medicine for the treatment of cancer and arthritis in the first half of 2013. This marks the start of Samsung Group’s long-term plan to invest a total of 2.1 trillion won in biosimilars and associated segments by 2020. The group said in 2010 that it will funnel a total of 23 trillion won to find future cash cows such as solar power, rechargeable batteries and display technology including the money in biosimilars. ``We announced last year tha

Feb 25, 2011By Kim Yoo-chul
Companies

New FKI head calls for sustained growth

By Kim Yoo-chul The new head of the country’s most-powerful business lobby vowed further cooperation with the government to settle key pending issues such as high consumer prices as an apparent strategy for sustainable economic growth. ``We are ready to listen what the public wants and businesses hope for,’’ said Huh Chang-soo, chairman of the Federation of Korean Industries (FKI), at a press conference in downtown Seoul, Thursday. ``Korean industries are only willing to accept proposals by the government if they are reasonable. We will negotiate and communicate with the government if necessary,’’ added Huh, who is also the chairman of energy and construction giant GS Group. Huh was chosen as the new FKI leader in a general assembly of the organization, attended by the heads of some 200 members of the country’s 600 biggest business groups. Huh accepted the position seven months after since its incumbent chief tendered his resignation. The 63-year-old Huh replaces the outgoing Cho Suck-rai, who had offered to step down last July due to illness. Born in Jinju, Sou

Feb 24, 2011By Kim Yoo-chul
Tech & Science

SK Telecom to sell Apples iPhones, iPads

By Kim Yoo-chul SK Telecom has become the second iPhone vendor in Korea after KT. The nation's biggest carrier has agreed on a contract with Apple to introduce the iPhone 4 from March. Samsung's vendor for Galaxy S smartphones is also in talks with Apple to sell iPad tablets in the next couple of months, SK Telecom officials said Thursday. An SK Telecom spokesman said that he had no knowledge of the iPad sale plan. The officials said the iPhone 4 16GB-based model will sell with a two-year contract with a monthly payment of between 35,000 won and 95,000 won. For the 35,000 won plan, a buyer has to pay

Feb 24, 2011By Kim Yoo-chul
Tech & Science

KT sees big breakthroughs in fixed-line business

Top executive bets on IPTV and high-speed Internet By Kim Yoo-chul KT, the nation's top fixed-line operator, is aiming high for the further growths in its fixed-line business as the demand rises for Internet-linked televisions and high-speed Internet. Fixed-line business was once called a "double-edged sword" for the telecommunication giant. But ironically, that business has been emerging as the savior for corporate sustainability by riding the wave of faster digitalization. Amid blurring lines between fixed-line broadband and wireless networks thanks to the faster penetration of "smart" gadgets, the company's top level executive is more than upbeat for a turnaround in its broadband-related business. "When we talk about what's next for the telecom industry, it involves a 'data explosion.' KT has a strong competitive edge in fixed mobile convergence (FMC)-related services in the local market," said Seo Yu-yeol, who leads KT's home business group, in a recent interview with The Korea Times. Seo, who is one of the top confidants to KT Chairman Lee Suk-chae, was pr

Feb 24, 2011By Kim Yoo-chul
Tech & Science

LG proud of flicker-free 3D TV

By Kim Yoo-chul LG, looking to beat its cross-town rival Samsung in the growing 3D TV market, has received good reviews from China with its film-based 3D technology. The company has been vigorously pushing LCD televisions with film-type patterned retarder (FPR) 3D technology. FPR's film-based 3D eyewear, is flicker-free, lightweight and significantly more affordable than the prevalent active-shutter equivalent embraced by Samsung Electronics. Despite controversy surrounding the initiatives being pushed by LG and Samsung, the LG Group's display-making unit LG Display said its FPR televisions are receiving "better-than-expected" responses from China. LG formed an alliance with China's leading television makers late last year with the aim of securing "first-mover" advantage in the market for value-added and premium sets. "Over 100,000 FPR 3D televisions were sold within two months of their market debut. Affordable prices and lightweight 3D glasses are major factors," said an LG Display spokesman Lee Sang-wook, Wednesday. LG Display is experiencing a shortage of pa

Feb 23, 2011By Kim Yoo-chul
Tech & Science

SK Telecom, Samsung parting ways

Motorola ending exclusive partnership with top carrier By Kim Yoo-chul SK Telecom was more than happy last year that its "all-in" strategy toward Samsung, by ignoring other handset vendors including Apple, helped acquire a big share in the nation’s growing smartphone market. SK Telecom had some 4 million smartphone subscribers, the number far higher than KT's 2.5 million users as of the end of last year, according to company officials. But there's no guarantee the top carrier will continue its bullish moves this year as its partner Samsung Electronics has been

Feb 22, 2011By Kim Yoo-chul
previous page
258259260261262
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.