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Samsung plans to outpace Nokia in 3 years

By Kim Yoo-chul Samsung Electronics plans to boost its mobile phone production in China and Vietnam next year. The electronics giant is upbeat about 2011 and particularly in the two emerging markets, citing the higher demand for smartphones and tablet PCs in those regions. Referring to the continued rise in the sale of its Galaxy S smartphones, Samsung intends for smartphones and other premium products to account for more than half of all production targets. ``Samsung is surpassing its bigger overseas rivals such as the overall handset sector leader Nokia as it has seen a steady increase in smartphone shares,’’ said one Samsung executive in a phone interview with The Korea Times, Tuesday. Its three manufacturing lines in China ― Huizhou, Tianjin and Shenzhen ― will account for 60 percent of the total production, while that of Vietnam is expected to take up 15 percent in 2011. The facilities in Brazil and India will account for 6 percent and 5 percent, respectively, a top-ranking Samsung executive who is directly involved in the matter, said. The portion of Sam

Dec 27, 2010By Kim Yoo-chul
Tech & Science

Can new CEO pull SK Telecom out of lurch?

By Kim Yoo-chul Questions are being raised whether the new chief executive of SK Telecom ― the nation's top mobile carrier ― can revitalize the company to overcome management obstacles. South Korea's SK Group, which owns SK Telecom as the conglomerate’s telecom unit, has recently chosen trusted strategist Ha Sung-min to take the chief executive position at the carrier, replacing Jung Man-won. Jung's predecessor Kim Shin-bae, who before Friday’s reshuffle led SK Networks, is together with Jung on the council of vice chairmen. Ha, who led SK Telecom’s wireless business, is expected to become CEO of the telecom firm after winning the endorsement during the shareholders meeting slated for March, next year. ``Ha’s predecessor Jung had worked as CEO for two years and didn’t serve out his three-year tenure. That’s mainly due to SK Telecom’s latest response to the iPhones,’’ said a top-ranking source, Monday. Galaxy dilemma SK Telecom argues that its heavy dependence on Samsung Electronics’ Galaxy S smartphones is the cause of all its troubles. Over 2 million Ga

Dec 27, 2010By Kim Yoo-chul
Companies

KCCI realistic about next year’s economic growth

Growth rate will fall below 4 percent By Kim Yoo-chul Korea’s leading business lobby said currency volatility will be the top parameter for the local economy next year. The chairman of the Korea Chamber of Commerce and Industry (KCCI) Sohn Kyung-shik expects the nation’s total trade volume for the full next year to reach $1 trillion, which is equivalent to Korea’s total GDP and also called for currency authorities of helping export-driven companies with ``better currency management.’’ ``Currency moves will be the top concern for the national economy in 2011. There are some possibilities that the eurozone will fall into economic trouble again, while worries over Beijing’s measures to tighten credit still remain. Also, excessive global liquidity will make the currency see more volatility,’’ said chairman Sohn, Monday. Sohn added Korea’s leading exporters will maintain their price competitiveness ahead of bigger overseas rivals in key markets only if the dollar-won exchange rates move within 1,100 won against the greenback. The KCCI forecasts the nation will see a sin

Dec 20, 2010By Kim Yoo-chul
Tech & Science

LG to invest more

By Kim Yoo-chul LG Group, whose businesses include electronics, telecommunications, chemicals and display panels, is set to make a record investment next year to gain market share and to nurture future projects. The rather upbeat plan comes after its key electronics and chemical businesses are expected to show increased profits helped by rising consumer demand for high-end finished products. In a statement, LG said it will invest 21 trillion won next year, an increase of 11.7 percent from this year’s estimated 18.8 trillion won. Of the total, 16.3 trillion won will be used for facilities, while the remaining 4.7 trillion won will go to R&D, according to a statement released Monday. ``Group Chairman Koo Bon-moo has asked chief executives of our key affiliates to seek market leadership with advanced products and invest in untouched but lucrative areas,’’ said Jeong Jung-wook, a senior LG Group spokesman. Jeong said next year’s R&D budget is in line with the chairman’s repeated calls to develop original technology to differentiate itself as a creator. The group’s

Dec 20, 2010By Kim Yoo-chul
Tech & Science

LG Display aims high with business transformation

CEO Kwon Young-soo sees results in its China joint venture By Kim Yoo-chul SUZHOU, China - For LG Display, finding the right answers for sustainable corporate growth was always tough as its revenue-creating structure is heavily dependent on the cyclical and volatile LCD industry nature. The company CEO Kwon Young-soo was once being tasked. But it seems evident that he has found a clue _ biz transformation. Kwon, known as the most-trusted CEO among those in the LG Group of affiliates, now has several reasons to be proud and to celebrate the latest successful event to unveil its advanced 3D panel using a polarizing film in Beijing. What’s more impressive is that Kwon’s consistent work for an overall business transformation at the LG Group’s critical display-making affiliate has begun yielding visible results. China is Kwon’s beloved spot as he firmly believes in the huge market potential in the next-television market. The Chinese LCD market is expected to rise by 80 percent to 51.6 million sets in 2012 from last year’s 29.2 million, research firms said. It’s n

Dec 20, 2010By Kim Yoo-chul
Tech & Science

TV industry to see big bang as 3D explodes

By Kim Yoo-chul SUZHOU/BEIJING, China - The global television market is experiencing a ``structural shift’’ as top-tier TV makers fully prepare to spur implementing strategic projects involving advanced sets, including the ``3D proliferation project.’’ The current mainstream televisions using liquid crystal display (LCD) and plasma screens are adding competitive features such as streaming movies and Wi-Fi connectivity. But underneath this there is a highly-lucrative alternative that last year around this time was not seen _ 3D televisions. ``It’s inspiring that the news for this year has been the active launch of the TVs, displaying 3D images when viewers see content from 3D Blu-ray discs or even broadcasts, though wearing 3D-only glasses is required,’’ said Brian Kim, the chief executive at the Suzhou Raken Technology, in an interview with The Korea Times, Friday. As he insisted, the market for ``next generation televisions’’ is gradually showing more potential as panel and TV leaders are rushing to take over the 3D market. The world’s top flat-screen maker Samsung

Dec 17, 2010By Kim Yoo-chul
Tech & Science

LG vows to beat Samsung in 3D screens

Korea’s 2 LCD leaders going for broke By Kim Yoo-chul BEIJING ― LG Display, the world's second-biggest supplier of liquid crystal display (LCD) screens plans to make record facility investments in 2011 to outrival its biggest competitor Samsung Electronics. The ambitious blueprint comes after introducing its cutting-edge three dimensional or 3D technology dubbed film patterned retard (FPR), igniting the ``3D standardization war’’ against the current leader Samsung in the highly-lucrative segment. ``LG Display will invest around 5 trillion won or $4.3 billion in facilities next year,’’ said chief executive Kwon Young-soo in an interview with The Korea Times in Beijing, China, Thursday. This is an increase of more than 10 percent from this year’s total investment of 4.5 trillion won, said a company spokesman, Kim Jun-kyu. The CEO said LG Group’s display unit is not worrying about market volatilities throughout the year 2011 as he expects higher consumer demand for value-added digital devices to come mainly to counter and balance the drop in popularity of the light-em

Dec 16, 2010By Kim Yoo-chul
Companies

Hyundai Heavy wins big deal

By Kim Yoo-chul Hyundai Heavy Industries (HHI), the world's biggest shipyard, has won a $1.45 billion containership order from Germany's leading carrier, taking it over $10 billion in contracts this year. Under the deal with Hapag-Lloyd Container Line, HHI will deliver 10 13,100-TEU containerships, it said, Tuesday. TEU is a twenty-foot equivalent unit and is the standard unit for describing a ship’s cargo capacity. The first vessel is due to be delivered at the end of July 2012 and the remainder by November 2013, the Korean shipbuilder said in a regulatory filing to the Korea Exchange (KRX). ``HHI wants to make the most of the chances in the reviving container transport market and strengthen our position,’’ a company spokesman said. Macquarie said that the tanker sector is seeing more activity, awaiting a full recovery in demand. ``Containership operators remain wary of the strength of the economic recovery in developed nations but volumes for new orders remain firm,’’ said the researcher. HHI has been close to meeting this year’s $12 billion order targe

Dec 16, 2010By Kim Yoo-chul
Tech & Science

LG Display striving for 3D expansion

By Kim Yoo-chul BEIJING ― Three-dimensional or 3D television captured the attention of the related global industry and the imagination of consumers following the success of the blockbuster movie, “Avatar.” Now, LG Electronics and Samsung Electronics, two Korean manufacturing giants, have been cashing in on that, launching a series of advanced TVs. China, which is on its way to become the biggest consumer market, is emerging as the battleground for the two as well as other global competitors to clash. It seems quite evident that revival would be the right word as 3D movies erupted to prominence in the 1950s and experienced a first comeback in the 1980s. Like the earlier formats, current 3D systems still require viewers to wear a set of special glasses for the viewing experience. The glasses allow the left eye and the right eye of viewers to see slightly different images, which the viewers’ brain then combines to create the illusion of depth. As technology progresses, the red and blue cellophane lenses are a thing of the past. Today’s 3D glasses come in two mai

Dec 15, 2010By Kim Yoo-chul
Tech & Science

Samsung heiress set to duel with Lotte

New Hotel Shilla CEO Lee Bu-jin plans to expand duty free shops By Kim Yoo-chul Lee Boo-jin, the ambitious elder daughter of Samsung leader Lee Kun-hee, cited growth and innovation as her key motivation during a speech following her inauguration as president of Hotel Shilla, downtown Seoul, Tuesday. The 40-year-old Lee is the first woman to head a Samsung affiliate. ``I will lead the way on the back of your support,’’ Lee told the audience during a ceremony to take the role as the hotel’s 17th CEO. Although her older brother, the only son of Lee Kun-hee, usually steals most of the spotlight for his step-by-step promotion to president, it is notable that the new Shilla CEO leapfrogged two notches in the reshuffle. During a 20-minute speech with 150 employees in attendance, she said she will guide Shilla to be on a par with the world’s best hotels. Samsung officials say Lee, who is also the president of the group’s de-facto holding company Samsung Everland, will focus on hotel and duty free businesses. She joined Samsung in 1995 and was transferred to the ho

Dec 14, 2010By Kim Yoo-chul
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