The Korea Times

KT vows to secure early iPhone 4 release

Carrier struggles to mend fences with miffed Samsung This is the fourth in a series of articles analyzing Apple's decision to delay the debut of iPhone 4 in Korea. — E.D. By Kim Yoo-chul Staff reporter KT, the carrier that exclusively provides iPhones here, promised that the newest version of Apple's do-it-all smartphone, iPhone 4, will be available in Korea sometime in September. The company, which is scurrying to calm customers' patience following Apple's unexpected decision to postpone the Korean launch, is struggling to adjust its smartphone strategies. Samsung Electronics, the country's largest handset vendor, refusing to offer its best and newest phones to KT in an apparent backlash to the carrier's decision to partner with Apple. KT is praying that the iPhone 4 arrives on Korean shores as early as possible, as it appears to be in danger of being rendered defenseless against its bitter industry rival, SK Telecom, which is flooding the market with devices powered by Google's Android operating system, including Samsung's Galaxy S. All KT can offer

Jul 25, 2010By Kim Yoo-chul

Tech & Science

LG Display aims at panel deal with Sony

By Kim Yoo-chul Staff reporter The chief executive of LG Display has confirmed that his firm is talking with Sony for a display panel contract. CEO Kwon Young-soo said its talks with Sony are being boosted by the credit it received for in-plane switching (IPS)-based panel-making technology used in Apple's iPads. "LG Display is in discussions with Sony over panels," Kwon said in a meeting with reporters in Seoul, Friday. Sony is seeing some chances to diversify its LCD procurement channels away from its heavy dependence on Samsung Electronics to meet this year’s ambitious LCD TV sales target. Sony has been a loyal customer of Samsung Electronics. The Japanese company has bought some 50 percent of its LCD panels from its screen joint venture with Samsung Electronics called S-LCD in Tingeing, South Chungcheong Province, since 2004. Sources close to the matter told The Korea Times that LG Display was approached by Sony to possibly supply 30-inch level panels for televisions from early next year. CEO Kwon said he doesn't have an immediate plan to meet Sony CEO How

Jul 23, 2010By Kim Yoo-chul

Companies

KCCI asks for delay on carbon tax plan

By Kim Yoo-chul Staff reporter SEOGWIPO, Jeju Island ― A key business lobby has called for the government to delay the introduction of a carbon tax as the new policy may hurt business activities. "Introducing the cap-and-trade in the form of a carbon tax policy is too premature. It would be better to take action after fully investigating moves by other governments," said the Korea Chamber of Commerce and Industry (KCCI) Chairman Sohn Kyung-shik at a business forum held at Lotte Hotel, Thursday. "It's evident that the government will maintain a strong consistency for sustainable green growth by urging domestic firms to lower carbon emissions during their operations. But that shouldn't distract from business activities," Sohn said. The executive also asked the government for more time to activate the possible new policy. Seoul is seen to launch the so-called "greenhouse law" in a move to join the global campaign to fight climate change. South Korea is the world's ninth-largest emitter of carbon dioxide and other heat-trapping gases, and registered the fastest emissi

Jul 22, 2010By Kim Yoo-chul

Tech & Science

Hynixs operating profit tops W1 tril.

By Kim Yoo-chul Staff reporter Hynix Semiconductor, the world's second-biggest producer of computer memory chips, has joined the 1 trillion won club, now that its operating profit exceeds the 1 trillion won mark in the second quarter for the first time on the back of strong demand. Market analysts forecast the Icheon, Gyeonggi Province-based chipmaker to post even better earnings in the third quarter, though some cautionary outlook by the company's executives has raised the uncertainty of Hynix shares. Shares of the memory chipmaker closed lower at 22,600 won Thursday, down 1,000 won or 4.24 percent from the previous close.

Jul 22, 2010By Kim Yoo-chul

Tech & Science

LG Display sees sales soar by 35% in Q2

By Kim Yoo-chul Staff reporter Flat-panel maker LG display reported better-than-expected second quarter profit and sales driven by rising demand for flat-screen televisions and computer monitors. However, the company forecasted its growth in profit to slow in the second half due to continuing uncertainties in the global economy and an expected dip in television sales. LG, the world's second-largest maker of liquid crystal displays (LCDs) behind domestic rival Samsung Electronics, posted a net profit of 555 billion won (about $461 million) for the April-June period, representing a 51 percent increase from the 367 billion won a year earlier. The company's operating profit more than doubled from last year to reach 726 billion won, while its revenue of 6.45 trillion won marked a 35 percent year-on-year increase. LG Display, which counts major device makers like Apple, Sony and Dell among its main clients, had benefited from the rebound in the global sales of electronics products and had been boosting its manufacturing capacity to meet the rising demand. Industry ins

Jul 22, 2010By Kim Yoo-chul

Companies

Doosan hits full stride in global expansion

By Kim Yoo-chul Staff reporter Doosan Group targets some 15 trillion won or $12 billion in overseas sales this year, accounting for about 60 percent out of the target 24.4 trillion won in total sales, a senior group spokesman Shin Dong-gyu said, Wednesday. The group's reliance on foreign markets captures the group’s globalization effort. The numbers only tell half the story. Doosan has appointed foreign talent to key posts, while earnestly working on big M&A deals. "Doosan Group is trying to find new earning engines that will cover developed to developing markets. As a business-to-business (B2B) focused company, it's quite natural to pay attention worldwide," Shin said. Doosan's principal business lies in infrastructure support, which encompasses power plants, desalination, construction equipment and related services, and marine diesel engines. Doosan's ongoing transformation efforts are well received by the markets. Citigroup has maintained its bullish stance on Doosan Heavy Industries, Doosan Corp. and Doosan Infracore, saying that they are undervalued.

Jul 21, 2010By Kim Yoo-chul

Tech & Science

LG Chem strikes quarterly record profit

By Kim Yoo-chul Staff reporter LG Chem, South Korea’s top chemical company, is consistently rewriting its records. A surge in asset values and a rare visit by U.S President Barack Obama to its Holland, Mich., plant has helped. Its second quarter record appears to be the icing on the cake. On Tuesday, LG Chem said it posted 5.028 trillion won in sales during the April-June period, while the operating profit for the latest quarter reached 827.9 billion won. Net profit was 645.7 billion won. Based on year-on-year comparisons, sales rose by 31.3 percent, while operating profit increased by 31.6 percent. Net profit was up by 36 percent, the LG affiliate said in a regulatory filing to the Korea Exchange (KRX).

Jul 20, 2010By Kim Yoo-chul

Tech & Science

LG shifts focus to strong 3D PC lineup

By Kim Yoo-chul Staff reporter LG Electronics is boosting its strength in three dimensional (3D) computers by releasing a range of notebooks, PCs and monitors, a senior company executive said Monday. There has been strong demand for 3D-related products being led by television, with Samsung Electronics and LG hoping to create a new market. "In the 3D PC-related market, LG can do better than our rival. With a better product lineup, LG also aims to expand its footprint in the lucrative segment," said Park Hyung-bong, LG’s mobile communications PC business team leader, in a press conference held at Seoul Square. Park said LG will drive its 3D PC-related businesses with its increasing 3D-related content and the continued consumer demand. Samsung Electronics is said to be having a hard time in procuring 15.6-inch 3D panels for computers. A Samsung spokesman declined to comment. Analysts say it may prove to be difficult for Samsung, which controls some 50 percent of the local PC market, to release its 3D PCs until the end of the fourth quarter of 2010. LG released four

Jul 19, 2010By Kim Yoo-chul

Tech & Science

Jobs lied, didn’t he?

Korean policymakers blame quirky Apple for late iPhone arrival By Kim Yoo-chul Staff reporter In attempting to combat its biggest public relations crisis ever, Apple appears to be making a lot of new enemies beyond rival handset vendors. The latest to show ruffled feathers are Korean policymakers, who are balking at claims by Apple chief executive Steve Jobs that stiff domestic regulations are keeping the controversial new iPhone from arriving in the country on time. During Apple's news conference in the United States last week, held to quell the fuss over reception on the iPhone 4, Jobs said that the newest version of Apple's do-it-all smartphone wouldn't be launched in Korea during July as previously scheduled. He cited hesitation by Korean regulators in approving the device for consumer use. However, according to the Korea Communications Commission (KCC), the country’s converged regulator for broadcasting and telecommunications, it is Apple that has yet to submit the iPhone 4 for approval here. "The claims by Jobs are untrue ― Apple has yet to present the de

Jul 19, 2010By Kim Yoo-chul

Tech & Science

Jump-start attempt

Will batteries spark LG's profit? By Kim Yoo-chul Staff reporter The LG Group of companies, which has been relying heavily on its consumer electronics and mobile-phones businesses, seems to experiencing a shakeup. And an emerging young gun is its chemical specialist, LG Chem, which appears to have a shot at establishing global leadership in the rapidly growing market for electric and hybrid-electric vehicle batteries. The groundbreaking ceremony at the Compact Power, a Michigan, U.S-based battery plant, which is a subsidiary of LG Chem, represented a landmark moment for the company in that aspires to be the leading name in rechargeable batteries, although it currently trails Japan's Sanyo and is neck-to-neck with domestic rival, Samsung SDI. "The U.S. government picking us to build the Holland battery plant and granting us huge incentives show that we have established a reputation for quality and innovation in batteries for electric and hybrid-electric vehicles," Kim Bahn-suk, chief executive of LG Chem, told reporters in a news conference after the groundbreaking c

Jul 16, 2010By Kim Yoo-chul

Kim Yoo-chul

Read more

KT vows to secure early iPhone 4 release

LG Display aims at panel deal with Sony

KCCI asks for delay on carbon tax plan

Hynixs operating profit tops W1 tril.

LG Display sees sales soar by 35% in Q2

Doosan hits full stride in global expansion

LG Chem strikes quarterly record profit

LG shifts focus to strong 3D PC lineup

Jobs lied, didn’t he?

Jump-start attempt

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