The Korea Times

Jobs reneges

iPad maker mulls producing smaller models By Kim Yoo-chul Now, here is a dose of hypocrisy. Apparently, Apple CEO Steve Jobs has already forgotten one of his most famous phrases of recent years ― 7 inch tablet computers are "dead on arrival" (DOA). Jobs is now being pressed to prove the sincerity of his remarks, after the Cupertino, Calif.-based consumer electronics company is reportedly mulling the possibility of launching the second generation iPad with a screen less than 7 inches, with a target shipment date of the first half of 2011. Samsung Electronics is known to be supplying its advanced LCD screens with its ``Super PLS’’ technology, for the next iPad, although a Samsung spokesman declined to comment. Chances are low that LG Display, which is currently supplying its IPS-based display to the current 9.7-inch iPad, will receive additional screen orders from Apple, according to officials. An LG Display spokesman also declined to comment. What’s ironic is that Apple is planning to release the upcoming iPad with a screen size between 6 and 7 inches, accor

Dec 14, 2010By Kim Yoo-chul

Tech & Science

Who will be better at fair, Lee or Koo?

Samsung’s heir, LG’s new CEO in first global test of mettle in Las Vegas By Kim Yoo-chul Samsung Electronics and LG Electronics are often compared with each other. Nowadays, LG is falling behind due to a late start in its smartphone business. But Koo Bon-joon, the younger brother of LG Chairman Koo Bon-moo, has taken over in a bid to jump start the business. Samsung is widely seen as moving for a generation shift with the leadership baton set to be passed on to Lee Jae-yong ― the only son of group owner Lee Kun-hee ― who has just been promoted to president at the electronics giant in the capacity of chief operating officer (COO). Thus, the upcoming International Consumer Electronics Show (ICES), slated for Las Vegas, next month, is drawing attention, as both the next-generation leaders of the two conglomerates (sort of) are to be present on a mission to showcase their ability and plug their firms. According to Samsung officials, Jae-yong is planning to hold several strategic meetings with Samsung’s key clients. ``LG Electronics is in the final process o

Dec 13, 2010By Kim Yoo-chul

Tech & Science

LS focuses on China, green growth

By Kim Yoo-chul LS Industrial Systems has been in talks with several Chinese companies for an acquisition deal to strengthen its presence in the world's biggest emerging market. The LS plan comes after the firm has posted a drastic increase in revenue growth in China, helped by the rising demand for energy-efficient industrial components such as power plant parts. The company, spun off from LG Group, manufactures industrial electrical and electric machinery, takes up some 70 percent of the market share in electric equipment production. ``LS has seen a substantial progress in mergers and acquisitions (M&As) in China to foster the so-called green business,’’ a top-ranking industry executive told The Korea Times, Sunday. LS spokesman Kim Bong-kyu said his firm will review the possibility of acquiring a company in China. LS hopes to post over $200 million in annual revenue in China next year from an estimated $120 million for this year. ``LS is planning to raise its revenue from high-end products that include high-voltage inverters and gas insulated switchgears or G

Dec 12, 2010By Kim Yoo-chul

Tech & Science

Samsungs 10-million seller man gets promotion

By Kim Yoo-chul Samsung Group promoted 489 executives below-president positions in its year-end shakeup, a move aimed at bringing a more youthful influence to its apparatus. Although the children of its leader Lee Kun-hee got most of the spotlight for their move up the corporate ladder, one that may represent the spirit of the massive promotions is Lee Min-hyouk, 38, who is now the youngest among Samsung’s 1,800-plus executives. Lee is not an ordinary executive but a designer, whose contribution to Samsung's smartphone design was cited for his leap into the executive ranks. He also designed two of the three mobile phones that sold over 10 million, gaining the nickname "10 million seller man." His promotion also belies two principles Samsung utilized that can be easily set apart from the promotions of the other star players in Korea's biggest conglomerate. First, Lee Kun-hee obviously tried to translate into action his vow to make his organization young. Second, Lee saw the importance in the mobile business in Samsung’s future portfolio. A dilemma facing LG

Dec 9, 2010By Kim Yoo-chul

Tech & Science

2 LCD giants face contrasting fates

LG to appeal $285 mil. EU fine, Samsung spared for voluntary report By Kim Yoo-chul LG Display, the world's second-biggest LCD maker, is considering appealing against a fine of 215 million euros ($285 million), levied by the European Commission (EC) for a price-fixing scheme. ``We may take the fine imposition to the General Court in the commission upon review of the situation,’’ said an LG Display spokesman Sohn Young-june, Thursday. LG’s rival, Samsung was also involved in the cartel but volunteered to report the scheme to the European authorities and received no penalty in return. The official remarks come after European Union (EU) regulators charged LG with breaching EU laws on restrictive business practices in July, last year. The EC told LG to pay some $285 million for fixing prices of LCD panels with five other firms between 2001 and 2006. The European regulators claimed the cartel members held monthly multilateral meetings and further bilateral meetings. In total, they met around 60 times mainly in hotels in Taiwan for what they called ``the crystal

Dec 9, 2010By Kim Yoo-chul

Tech & Science

Samsung promotes 8 foreign executives

Youngest of Lee Kun-hee's children now executive vice president By Kim Yoo-chul Samsung Group has doubled the number of foreign executives in its latest management reshuffle, a move aimed at fostering its global expansion. Chairman Lee Kun-hee’s third kid, Seo-hyun, was also promoted to executive vice president. Her two older siblings were already among those recently promoted to president. On Wednesday, Samsung promoted eight foreigners to senior- and mid-ranking executive positions, increasing the total number at the executive-level to 24. Last year, four foreign executives got promoted. ``Samsung is strengthening the role of its foreign employees,’’ said Rhee In-yong, chief communication officer at Samsung in a background briefing. ``We will hire more talented foreigners,’’ Rhee said. Wang Tong from Samsung Telecommunication Research Center in China got promoted a notch to senior vice president (VP) for playing a role in Samsung keeping the lead in China’s TD-SCDMA market. Omar Khan, the chief strategy officer of Samsung Telecommunications America,

Dec 8, 2010By Kim Yoo-chul

Companies

Korea losing IT edge to China in EU

By Kim Yoo-chul China is pushing Korea into a corner in the European information technology market, with its cheap products; and if it narrows the technology gap, Seoul could be swept away from its stronghold in the North American market. According to the National IT Industry Promotion Agency (NIPA) Korean IT exports accounted for 3.2 percent of total exports ― worth $22.6 billion ― as of the end of last year. NIPA noted that Korea’s market share was stalling as the country was failing to make a massive breakthrough. Since 2005, the market share of Korean IT companies has remained almost flat at around 3 percent. Korea’s share increased to 3 percent in 2004 from 2.6 percent in 2003, but has remained relatively unchanged since then. Japan is stuck in a similar dilemma. The institute said the combined share by Japanese firms in Europe remained at 4.5 percent last year after its peak of 6.5 percent in 2001. ``Korea and Japan are shifting their top priorities to selling more premium and value-added consumer products rather than selling low-end digital devices. With che

Dec 7, 2010By Kim Yoo-chul

Tech & Science

Junior Lee meets with Fiat Chairman Elkann

By Kim Yoo-chul Lee Jae-yong, recently promoted to president of Samsung Electronics, is expected to increase his interactions with global business leaders. Ready to tackle his new duties, the 42-year-old and only son of group leader Lee Kun-hee, met Italian automaker Fiat Chairman John Elkann last week. ``Lee in his capacity as chief operating officer (COO) met with the chairman of Fiat to discuss a business partnership,’’ said a top-ranking industry executive, adding the outgoing Samsung SDI CEO Choi Chi-hun and the incoming SDI CEO Park Sang-jin also attended the meeting. A senior Samsung spokesman confirmed a high profile meeting but declined to name the carmaker. Samsung is concentrating resources to strengthen its business in batteries, solar cells and AMOLED as a way to find future growth engines. ``Lee will lead Samsung’s new businesses and the meeting with Fiat is one part of it,’’ said the executive, asking not to be identified. SB LiMotive, a joint venture with Samsung SDI and Germany’s Robert Bosch, recently announced that it will supply lithium-ion

Dec 6, 2010By Kim Yoo-chul

Tech & Science

Declining demand forces Samsung to lower LCD production

By Kim Yoo-chul Samsung Electronics has cut its liquid crystal display (LCD) flat-screen production by 7 percent to preempt a drop in the demand for consumer products that use large-sized panels, a top company executive said Monday. This is the first time in more than two years that the firm has trimmed its output since May 2008. ``Samsung is currently maintaining its LCD production rate between 93 percent and 94 percent of its full capacity due to a continued drop in prices for panels used in televisions,’’ said Chang Won-kie, the head of its LCD division, in a meeting with local reporters at an industry forum in Seoul, Monday. ``The key point for the full factory utilization is whether the demand for LCD-embedded products to get on the recovery track,’’ Chang said. The LCD industry is highly cyclical and volatile. The output reduction comes after LG Display reduced its output by around 10 percent from August this year. ``Samsung has failed to clear inventories, as demand for LCD televisions in its key Chinese and American markets was lower-than-expected,’’

Dec 6, 2010By Kim Yoo-chul

Companies

Trade pact receives mixed responses

By Kim Yoo-chul South Korea's business sectors are showing mixed responses to the free trade agreement (FTA) signed between Seoul and Washington over the weekend. The nation’s top two business lobbies similarly hailed the announcement followed by the American business community here ― the American Chamber of Commerce in Korea (AMCHAM). The car industry expressed support for the pact, expecting South Korea’s auto majors to export more to the world’s biggest consumer electronics market. But the electronics industry remained calm over the impact of the accord. ``The agreement will help businesses wash away uncertainties in the United States market and South Korean companies will export more, boosting brand awareness,’’ said the Federation of Korean Industries (FKI), the nation’s most influential business lobby group, in a statement, Sunday. In a separate statement, the Korea Chamber of Commerce and Industry (KCCI), asked for an imminent ratification of the pact by insisting that the agreement will maximize ``economic benefits’’ both for South Korea and the United States.

Dec 5, 2010By Kim Yoo-chul

Kim Yoo-chul

Read more

Jobs reneges

Who will be better at fair, Lee or Koo?

LS focuses on China, green growth

Samsungs 10-million seller man gets promotion

2 LCD giants face contrasting fates

Samsung promotes 8 foreign executives

Korea losing IT edge to China in EU

Junior Lee meets with Fiat Chairman Elkann

Declining demand forces Samsung to lower LCD production

Trade pact receives mixed responses

Top 5 stories