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Companies

LG Chem taps into global talent pool

By Kim Yoo-chul Korean chemical giant LG Chem is increasing its efforts to hire more international talent as it looks for more opportunities in global markets. The company has been advancing into international markets in emerging sectors such as rechargeable batteries for fuel-efficient vehicles and other ``green tech’’ products. LG Chem plans to hire 30 new employees from overseas soon with expertise and experience in electric materials development. The company’s chief executive Kim Bahn-Suk was in Japan to participate in the hiring process, joining human resources chief Yug Geun-yeol and research director Yoo Jin-nyoung. The company will continue to increase the number of employed foreign nationals, mostly to boost its research and development (R&D) capabilities in materials and rechargeable batteries. ``We will concentrate on securing a larger number of proven high-quality talent, which will be crucial to maintain our leadership in key businesses. It’s inspiring that LG Chem and other LG affiliates have passed Japanese competitors in areas such as car batterie

Oct 14, 2010By Kim Yoo-chul
Tech & Science

Apprehension evident at Korean tech fair

Samsung, LG wary over murky outlooks in chips, LCDs By Kim Yoo-chul GOYANG, Gyeonggi Province ― The annual Korea Electronics Show (KES) has consistently been a battleground for bragging rights for the country's technology industry, but the atmosphere for this year's event appears to be subdued by the sagging economy. Although industry heavyweights like Samsung Electronics and LG Electronics were displaying the latest of their products in consumer electronics, computers and mobile devices, company officials weren’t serenading journalists with lavish predictions like they did in better years, as the global demand for digital products continues to be affected by a shaky world economy. Samsung managed to boasts its solid sales in flat-screen televisions ― a market where it’s firmly established as the global leader ― and also a promising start for next-generation premium products like televisions enabled with three-dimensional (3D) video. However, the Korean technology giant was more modest about the expectations for his chip business in the coming months, and its rival

Oct 12, 2010By Kim Yoo-chul
Tech & Science

Hynix to invest $3.3 billion next year

By Kim Yoo-chul GOYANG, Gyeonggi Province ― Korea's Hynix Semiconductor is mulling how much it will spend to boost its manufacturing muscle to compete better against larger rival Samsung Electronics in computer memory chips. Although spending around 3.7 trillion won ($3.3 billion) on facilities will be possible, which would represent a 10 percent increase from the projected investment for this year, uncertainties in the semiconductor market are keeping Hynix from deciding too early, according to the company's chief executive. "We can either spend 10 percent more on facilities next year or 10 percent less," Hynix CEO Kwon Oh-chul told The Korea Times on the sidelines of the Korea Electronics Show (KES) exhibition in Goyang, Gyeonggi Province, Tuesday. Hynix, the runner-up DRAM provider behind Samsung, had earlier said that its spending on equipment and facilities next year will amount to 3.38 trillion won, but the mixed predictions on the level of chip rebound after the second-half of 2011 has made the calculations more complex for Hynix. "An immediate and drastic ris

Oct 12, 2010By Kim Yoo-chul
Tech & Science

Samsung, LG to release Windows 7 smartphones

By Kim Yoo-chul Samsung Electronics and LG Electronics will bulk up their lineup for smartphones with new devices powered by Microsoft's Windows Mobile operating system. The South Korean technology giants are already promoting a variety of devices powered by the Google-backed Android mobile operating system, and are hoping that the Windows-based phones will give them further ammunition to challenge Apple's supremacy in consumer smartphones. Samsung, which has enjoyed strong sells of its Android handset Galaxy S, looks to extend the momentum by releasing the latest versions of its Omnia Windows Mobile smartpones to leading carriers in Europe on Oct. 21. Omnia 7, powered by Microsoft’s latest Windows 7 mobile operating system, will be available to wireless users in France, Britain, Spain, Germany, Singapore and Australia before reaching consumers in Korea and North America, according to Samsung spokesman Shin Young-june. ``We are not ready to comment on our detailed plans for Windows 7 phones beyond the Omnia 7,’’ said Shin, adding that the company plans to add a weal

Oct 11, 2010By Kim Yoo-chul
Tech & Science

Hyundai to build biggest solar cell plant in Korea

By Kim Yoo-chul Hyundai Heavy Industries (HHI), which runs the world's biggest shipyard, has teamed up with Compagnie de Saint-Gobain SA, Europe's top supplier of building materials, to build the biggest solar cell-producing plant in Korea. In a press release, the shipbuilder said the plant will be completed in the first half of 2012 at an estimated cost of 220 billion won. ``Hyundai and Saint-Gobain will be 50-50 equal partners. Hyundai is aiming to become the world’s fifth-largest solar cell manufacturer by 2015,’’ said senior Hyundai spokesman Kim Kwang-guk, Monday. The production capacity of the cells made at the plant will be boosted to 400 megawatts (MW) by the end of 2015 from an estimated annual capacity of 100 MW in the initial phase, according to Kim. ``The facility will make copper indium gallium diselenide (CIGS) thin-film solar cells as Hyundai believes in the marketing potential of CIGS cells, given their high conversion efficiency and low manufacturing cost,’’ Kim added. CIGS technology is still currently in its ``infant stage’’ and no company has beg

Oct 11, 2010By Kim Yoo-chul
Tech & Science

LG betting on 3D TVs to combat rivals

US TV maker Vizio to introduce passive glasses 3D TV By Kim Yoo-chul LG Electronics has been suffering from a deteriorating presence in its two major markets ― consumer electronics and mobile phones ― which eventually led to a change at the management helm. And Koo Bon-joon, who succeeds ousted chief executive Nam Yong, seems ready to bet the house on next-generation televisions, including those providing three-dimensional (3D) stereoscopic images and Internet connectivity, will put the Korean technology giant back on track toward respectability. LG Electronics is widely considered to be the lesser of a contender than rivals Samsung Electronics, the planet’s leading flat-screen television maker, and Japanese heavyweight Sony in the race to gain early leadership in the nascent market of 3D-enabeld televisions. Although the first 3D television products, which appeared on consumer shelves this year, have yet to develop as serious money-spinners for the companies, many industry experts consider them as the natural successors to the liquid-crystal display (LCD) flat-scre

Oct 11, 2010By Kim Yoo-chul
Companies

Samsung Electronics profit streak hits snag

Disappointing Q3 prediction reflects slowing chips, LCDs By Kim Yoo-chul Samsung Electronics is expected to post a lower-than-expected 4.8 trillion won (about $4.3 billion) operating profit in the third quarter of this year due to sluggish sales of semiconductors and liquid crystal display (LCD) screens. Announcing its earnings guidance for the July-Sept. period, the company estimated its revenue at around 40 trillion won, a fresh quarterly high that would represent an 11.5 percent increase from a year earlier. Samsung’s operating profit estimate for the third quarter represents a 13.7 percent increase from last year’s 4.22 trillion won but a 4.19 percent decline from the previous quarter. Samsung, which is distinguished by its dual strength in both parts and finished products, appears to have been affected by increasing competition in semiconductors and LCDs, which were behind its record-breaking profit streak in the first half of the year. Samsung is the worlds’ largest provider of computer memory chips and LCDs and also the leading brand in flat-screen telev

Oct 7, 2010By Kim Yoo-chul
Tech & Science

Hynix bets heavily on 30-nano technology

By Kim Yoo-chul Hynix Semiconductor is planning to bet heavily on advanced chips that apply its finer 30-nanometer processing technology, attempting to better compete with rivals such as Samsung Electronics and Japan's Elpida. The outlook continues to be murky for the chip industry due to the bloating inventories caused by chipmakers increasing their production capacity in previous months. However, Hynix believes it can't afford to take its foot off the gas pedal in terms of investing in facilities and enhancing its technologies as it looks to reduce its gap with market-leading Samsung. Last week, Hynix said it will increase its investment in facilities by 10 percent from its earlier plan of 3.38 trillion won ($2.97 billion) to accelerate its transition to "thinner" processing technologies. The semiconductor chips of today have millions of minuscule electronic circuits, which are etched into a silicon disk on a nanometer (one billionth of a meter) scale. A smaller measurement means that the chip circuit consists of thinner electric lines, thereby having more cir

Oct 7, 2010By Kim Yoo-chul
Companies

KEPCO CEO grilled over soaring debts

By Kim Yoo-chul When LG Electronics head Kim Ssang-su took the reins of the Korea Electric Power Corp. (KEPCO) midway through 2008, the high-profile CEO was expected to boost the performance of the state-run utility. However, under his stewardship this has appeared to be disastrous ― KEPCO netted more than 4 trillion won in losses over the past two-and-a-half years and its debts shot up to over 32 trillion won. In this climate, Kim has come under fire and some lawmakers even accused him of ``having recklessly managed’’ the company. But he doesn’t admit this at all. ``There has been talk over mismanagement. Whenever I hear about it, I get riled,’’ Kim told the annual National Assembly inspection held at the firm’s head office in Seoul, Thursday. ``Since I took over the top job, I have tried to run the company stably.’’ The Seoul-based outfit remained in negative territory for two years in a row. Last year, it posted 77 billion won in losses, after suffering from a net loss of 2.5 trillion won in 2008, according to the Korea Exchange. Things were worse thi

Oct 7, 2010By Kim Yoo-chul
Tech & Science

LG Chem to provide batteries for Calif. utility firm

By Kim Yoo-chul LG Chem has won another mega battery deal, this time not with carmakers but with a utility firm, the biggest in California. The Korean battery maker said that it has agreed to supply lithium-ion batteries to Southern California Edison (SCE), which plans to use the rechargeable batteries for its household energy storage system (ESS). It is the first time that the Seoul-based company has tapped into the highly-lucrative ESS market, which allows the storage of electricity to deliver at a time when it is most needed with minimum leaks. "We will start to provide 10 kilowatt-hour batteries later this year through 2012 for tests first. Beginning in 2013, we will ship the batteries for full scale use to SCE," LG Chem spokesman Song Choong-sup said. Song declined to give further financial details such as the contract volume and the expected shipment amount. Song said the LG unit is aiming to make its presence felt in line with the smart-grid programs being pushed by the U.S. and European governments, adding the latest deal will help it to gain momentum.

Oct 6, 2010By Kim Yoo-chul
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