The Korea Times

LG Display sales rise, profit drops

By Kim Yoo-chul LG Display, the world's second-largest liquid crystal display (LCD) maker behind Samsung Electronics, posted a new quarterly-high of 6.7 trillion won (about $5.9 billion) in revenue for the July-Sept. period as it maintained a healthy volume in shipments. However, the company’s operating profit dipped more than 72 percent year-on-year to 182.1 billion won (about $162 million) in the third-quarter due the sluggish prices of the panels that reflect the slowing demand for flat-screen televisions. Its net profit of 224.2 billion won was more than a 60 percent drop from last year's 595.3 billion won. LG Display’s chief financial officer Jeong Ho-young was pessimistic about the company’s outlook for the remainder of the year, as the demand for LCD-embedded consumer electronics products like televisions, mobile phones and computer monitors continues to slide. Global flat-screen prices, which have fallen about 30 percent from April to September, are expected to see a further decline with television makers looking to boost demand with lower prices. Fall i

Oct 21, 2010By Kim Yoo-chul

Tech & Science

Samsung-Apple tablet war to define industry standard

By Kim Yoo-chul Apple has been thumping Samsung Electronics in the lucrative smartphone market, but the Korean technology giant has vowed to keep the competition close in tablet computers, and touts its seven-inch Galaxy Tab as a smarter and more compact alternative to Apple’s iPad. However, it remains to be seen whether Samsung’s decision to deliver something different will backfire and eventually render its products an endangered species, as rivals appear to side with Apple boss Steve Jobs, who claims Samsung’s touch-screen computers might be too small. LG Electronics, Samsung’s bitter domestic rival and a late arrival to the tablet party, is one of the companies that prefer to design their products closer to the iPad mold than that of the Galaxy Tab. LG, which plans to unveil its first tablet during the first half of next year, says its gadget will be bigger than the Galaxy Tab, although not as big as the 10-inch iPad. ``The tablet will run on the Google-backed Android mobile operating system and the size of the screen will be somewhere between 7 inches and 10 i

Oct 21, 2010By Kim Yoo-chul

Tech & Science

Traditional IT concepts up for overhaul

By Kim Yoo-chul How to harness social networking services (SNS) for business purposes will be every marketing person's concern next year, a senior executive of Samsung SDS, the system integration subsidiary, said Wednesday. It is not that there have been no attempts toward this end but they have not blossomed yet. Obviously, at an age where Facebook and My Space, together with Twitter, have firmly consolidated their integral places in daily life, Park Seung-an, executive vice president of Samsung SDS says they are here to stay so businesses need to take advantage of them or place last in the race. At the same time, Park also noted that smartphones are continuing their evolution that needs to be monitored or else businesses will end up losing a great opportunity. ``Social networks themselves will become new money-making tools away from their initial roles as communication devices. SNS will have greater impacts on businesses,’’ Park said. Citing faster technology advancements amid blurring lines between software and hardware, he said he was quite upbeat for an ear

Oct 20, 2010By Kim Yoo-chul

Tech & Science

STX targets $27 billion sales in 2011

By Kim Yoo-chul Korean energy conglomerate STX Group has revised its total sales target for 2011 to 30 trillion won or some $27 billion, the group chairman said. This is an increase of about 30 percent from this year's 25 trillion won projection. In 2009, the group had 24.5 trillion won in sales on a consolidated basis ― an international accounting measurement that includes performances of overseas affiliates. ``STX expects to report improved earnings for 2010 from last year amid positive signs in the global shipbuilding sector,’’ said Chairman Kang Duk-soo at a forum in Seoul, Tuesday. ``STX has been receiving more shipbuilding orders and the 30 trillion won sales target is highly achievable considering the current market mood,’’ according to Kang. When asked about targets for operating and net profits, the chairman declined to comment by saying the final plan will be announced in mid-November. Kang said that he was positive on the firm’s plan to clinch $10 billion won in shipbuilding orders for 2010 and added the group will try to contact bigger ship owners for ad

Oct 19, 2010By Kim Yoo-chul

Tech & Science

Samsung, LG differ on 3D TV standards

Bragging rights, business supremacy at stake for Korean tech giants By Kim Yoo-chul What would the consumer electronics industry be without standards wars? And the latest competition for technology bragging rights is between Korean heavyweights Samsung Electronics and LG Electronics as they vow to thump the other in the emerging market for three-dimensional (3D)-enabled flat-screen televisions. Although high prices and lack of a content ecosystem has so far made 3D televisions a hard sell to consumers, the increasing number of products on the shelves, as well as the wealth of stereoscopic entertainment content, appears to be readying the market segment for a significant jump. Samsung and LG both are desperate to get out of the gate early in 3D televisions, but the companies are betting on different technology, and the industry watchers believe the competition between the two Korean electronics makers could have a crucial role in shaping the 3D television standard wars. Betting on the right standards will also be crucial for the companies to better achieve busines

Oct 19, 2010By Kim Yoo-chul

Tech & Science

LG Chem continues profit streak

By Kim Yoo-chul LG Chem, the country's leading maker of chemicals and industrial materials, was pleased after an impressive third-quarter report, which confirmed that the company continues to benefit massively from the rising demand for petrochemical products and rechargeable batteries. The company's operating profit for the July-Sept. period reach 779 billion won (about $698 million), which represents a 12 percent growth year-on-year, while net profit rose by 10.5 percent at 599 billion won. LG Chem's 5.02 trillion won revenue for the third quarter was up 16.9 percent from last year's numbers. LG Chem, which continues to emerge as a critical unit for the LG Group, has been generating massive buzz in the market for rechargeable batteries used in hybrid-electric vehicles and other fuel-efficient models being developed by car makers. However, the shining third-quarter was based on the company's strengths in its bread-and-butter markets, including polyvinyl chloride (PVC) and petrochemical products. "Our upbeat earnings results were based on the increased shipments

Oct 19, 2010By Kim Yoo-chul

Tech & Science

Firms advised to fix compensation scheme

By Kim Yoo-chul Korean companies should overhaul their compensation scheme and improve their ability to adapt to changes in order to speed up their globalization, according to an international consultancy. In an interview with The Korea Times, Paul O'Malley, partner at Mercer's Information Product Solutions (IPS) division, stressed that Korean firms need to be aware of risk factors that can be triggered by a change in management systems and compensation scheme in a bid to maintain policy consistency and retain talent. ``If you want to implement changes in a controlled way, the following step is a must ― highlight internal problems, map out an organized reform plan, create long-term vision and CEO leadership,’’ said O’Malley, said. The executive stressed the importance of communication in the change to minimize conflicts. ``Communication is certainly critical for changes,’’ according to the executive. The partner said hiring western managers with an aim to set up global standards in management is ``not everything,’’ urging Korean firms to recruit workforces who have

Oct 17, 2010By Kim Yoo-chul

Tech & Science

LG vows to create inventive corporate culture

By Kim Yoo-chul Korea's LG Electronics believes that the creation of a less-hierarchical, more free-flowing corporate culture will be crucial for providing the creative input it desperately needs for its main products like flat-screen televisions and mobile phones. The transition toward a more inventive environment was stressed by the newly-hired chiefs of the company's television and mobile devices division Sunday as they vowed to improve communication and the speed in decision making to breathe new life into the company's products that critics say have ceased to be interesting. LG Electronics is undergoing a major restructuring process, starting with the

Oct 17, 2010By Kim Yoo-chul

Companies

KT seeks foreign partners for cloud computing

By Kim Yoo-chul Telecommunications giant KT will make ``all-out’’ efforts to establish a significant presence in the emerging market for cloud computing, according to company officials Thursday. Cloud computing describes a new era of Internet usage when most activities and data storage are provided online and accessed from personal computers or other devices. Global technologies companies like Google, Microsoft, Apple, IBM, HP and Cisco have leaped on the cloud bandwagon, while in Korea, KT and its industry rival, SK Telecom, are some of the companies that are competing to get out of the gate early in server-based computing. In a news conference, KT announced plans to expand its partnership with small- and-medium-sized enterprises, which may eventually account for a significant part of its cloud computing cliental, and also explore more opportunities in overseas markets. KT will release a ``2.0 version’’ of its cloud computing products and solutions by the end of this month, according to senior executive Suh Jeong-shik. Earlier this year, KT announced plans to

Oct 15, 2010By Kim Yoo-chul

Companies

Samsung SDS boosting int’l footstep

By Kim Yoo-chul Samsung SDS, the information-technology unit of the Samsung Group, was honored as one of "Asia's Most Admired Knowledge Enterprises" by Britain's Teleos for the ninth straight year, the longest streak for an Asian company, company officials said Thursday. The AMAKE has been acknowledged by Teleos since 2002 and 16 companies in seven countries, also including Japan and Singapore, were named on this year’s list, according to a Samsung SDS official. The main factors for the award include the ``establishment of knowledge culture,’’ ``support for knowledge management’’ and effective ``knowledge-sharing’’ structures. ``Our efforts to innovate our work process are being recognized,’’ said the Samsung SDS official. ``By establishing `OpenPlace’ _ an online platform for communication and collaboration between employees, we have seen better results in communication and decision-making.’’

Oct 14, 2010By Kim Yoo-chul

Kim Yoo-chul

Read more

LG Display sales rise, profit drops

Samsung-Apple tablet war to define industry standard

Traditional IT concepts up for overhaul

STX targets $27 billion sales in 2011

Samsung, LG differ on 3D TV standards

LG Chem continues profit streak

Firms advised to fix compensation scheme

LG vows to create inventive corporate culture

KT seeks foreign partners for cloud computing

Samsung SDS boosting int’l footstep

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