The Korea Times

Samsung SDS set to raise sales target

By Kim Yoo-chul Staff reporter Samsung SDS, which is engaged in providing information technology (IT) based solutions and services, is considering raising its sales target for overseas operations this year. Samsung's IT services arm earlier said the portion of its overseas sales throughout this year will reach 20 percent or some 830 billion won ($800 million) out of the total 2010 sales projection of 4.14 trillion won. Spokeswoman Lee Eun-young said the company has seen an increase in overseas sales over the recent years. Last year, some 13 percent of the total revenue of 3.57 trillion won came from overseas. "It's been true that SDS has steadily been strengthening our overseas businesses in a bid to become an influential global player in the sector. But currently, we couldn't confirm whether to raise the target or not," she said. Samsung SDS has just made a $9.3 million deal in Sri Lanka for the automation of the Inland Revenue Department of Sri Lanka. Under the contract, the Korean provider will help the tax agency in the Southwest Asian country build administra

May 28, 2010By Kim Yoo-chul

Companies

Haier teams up with Daewoo

By Kim Yoo-chul Staff reporter China's consumer electronics giant Haier has formed a united front with Korea's smallest home appliances manufacturer Daewoo Electronics in an effort to provide better after-sales care for customers using Daewoo's network, a senior Haier executive said Friday. The largest white goods producer on the Chinese mainland is planning to heavily focus on "off-line" sales capitalizing on major local outlets such as Homeplus. Haier's latest gambit in Korea where Samsung and LG reign comes at a time when consumer spending on electronics-related products has been increasing. "The business outlook in the Korean market has become better thanks to the faster economic recovery, helping us to implement aggressive marketing strategies for an increased market share," said Philip S. Carmichael, head of Haier's Asia-Pacific operations, during a news conference at the Press Center in downtown Seoul, Friday. The executive talked to the press during a launch to unveil its 22-inch liquid crystal display (LCD) television sets. The full-HD TVs will sell throug

May 28, 2010By Kim Yoo-chul

Companies

Doosan completes US nuclear deal

By Kim Yoo-chul Staff reporter Doosan Heavy Industries and Construction said Thursday that it has completed the negotiations to provide nuclear power plant equipment to the largest nuclear energy generating facility in the United States. "We've finalized the process. Doosan hopes for bigger penetration in the highly lucrative nuclear power plants-related sector in the United States," the company said in a press release. Doosan has been shipping control element drive mechanisms, or CEDMs, and replacement reactor vessel heads to the Palo Verde nuclear facility in Tonopah, Arizona, which has a capacity of 1,400 megawatts since May of last year. A reactor vessel head is used to maintain the pressure resistance of a coolant, while a CEDM is a device used to control the degree of a nuclear reaction. Shares of Doosan Heavy rose 5.42 percent to end at 68,100 won on the nation’s main bourse, according to the data from Korea Exchange (KRX).

May 27, 2010By Kim Yoo-chul

Tech & Science

SK Telecom treads carefully on overseas expansion

By Kim Yoo-chul Staff reporter SK Telecom, the nation's top mobile carrier, is reviving its efforts to expand overseas, after putting them on hold following a series of failures. Malaysia, Indonesia and China are its new target areas. The carrier, which controls over 50 percent of the domestic telecommunications market, has failed in its previous ventures in the United States, China and Vietnam. On Thursday, SK said it will acquire a 25.77 percent stake in Malaysia's Packet One Networks for $100 million. The deal is also expected to give the Malaysian broadband operator much-needed funds to expand its network, while giving SK Telecom a presence in a lucrative emerging market. Packet One is the first and biggest provider of mobile WiMAX in Malaysia with 139,000 subscribers, SK Telecom said in a press release. Company spokeswoman Cindy Kang said a formal agreement will be signed in June and added the decision will lift SK Telecom to become the second-largest shareholder in the Malaysian firm. "The mutual partnership will be the right springboard for us to s

May 27, 2010By Kim Yoo-chul

Tech & Science

Samsung on cautionary note

By Kim Yoo-chul Staff reporter Samsung Electronics, the world's biggest memory chipmaker, fears that instability in the Euro zone is likely to have a lasting impact on investors and consumer sentiment in the global memory chip market. Analysts agree with the company saying that any difficulties could arise next year. At the moment, Samsung's top executives says his company "is closely watching the market." "Samsung Electronics is closely watching European financial markets in case the situation worsens more than expected," said Kwon Oh-hyun, a president of the company's semiconductor business. "Certainly, we can't make a firm prediction, I have asked chief executives of overseas chipmakers on this issue," Kwon told reporters during his participation in the global semiconductor forum held in the Shilla Hotel. Samsung has enjoyed good business this year thanks to a global recovery making Kwon's remarks the first time that a Samsung leader has been less than optimistic about the market situation. Kwon, however, said Samsung will see a record profit in the second

May 27, 2010By Kim Yoo-chul

Tech & Science

LG Chem globe-trotting for talent

CEO Kim globe-trotting for foreign talent By Kim Yoo-chul Staff reporter The best companies rely on the best human resources. This is perhaps an overused business cliche for a lot of business executives, but not Kim Bahn-suk, the well-traveled chief executive of LG Chem, whose reputation is based on his desire to stockpile quality talent. Kim intends to search every corner of the globe to find his next top employees, and will never send lower-rank officials to do his job. Kim was in the United States earlier this month, the fifth consecutive year he has participated in the company's recruiting campaign across American universities, LG Chem officials said. "Kim's level of involvement in the recruiting process is rarely found among the country's top corporate executives, many of them considering themselves too important to be on the ground hustling to acquire better talent," Song Choong-sup, an LG Chem spokesman, said. "In our ever-changing business, it's crucial to be preemptive in moving to find and hire skilled industrial talent or people with upside potential. An

May 26, 2010By Kim Yoo-chul

Companies

Samsung, LG move to intellectual properties

By Kim Yoo-chul Staff reporter Samsung and LG Group, whose annual incomes mostly come from their electronics-related businesses, are looking to strengthen their bargaining power in intellectual-property patents. Samsung Electronics and LG Electronics have seen rapid corporate growth over the last decade, but little attention to intellectual property rights has involved them in several patent battles. On Friday, LG Group said it has a plan to increase its number of patents experts to 370 by 2012 from the current 280. It is also planning to set up patents-tasked offices in four regions, including North America, China and the Euro zone to effectively deal with litigation issues. ``The group aims to boost income from intellectual-property patents,'' spokesman Lee Hyung-keun said, adding the company has created a special committee of patents executives from the group's eight affiliates. LG Group has flat panel displays, consumer electronics, batteries, telecommunications and components businesses via its electronics, display and chemical units. LG Electronics and LG Dis

May 25, 2010By Kim Yoo-chul

Tech & Science

Samsung, Sony getting friendly

By Kim Yoo-chul Staff reporter Are Samsung Electronics and Sony friends or foes? Although the competition between these technology giants clearly represents one of the planet's fiercest business rivalries, it also seems true that the complicated battlefields of the technology industry repeatedly pressure them to come together. As the old saying goes, there are no permanent allies or enemies in business, and the Samsung-Sony relationship serves as a good example. This has much do with Samsung’s dual strengths in both parts and finished products. Samsung, the world's largest technology company, and Sony, which is desperate to regain its consumer electronics crown, are competing head-to-head in major markets such as flat-screen televisions and mobile devices. However, Sony is also Samsung's biggest client for liquid crystal displays (LCDs), using the screens of its archrival to build its premium BRAVIA-branded televisions since 2004, a connection managed through a joint venture between the two companies called S-LCD. However, Samsung's ties with Sony over LC

May 25, 2010By Kim Yoo-chul

Tech & Science

SKT turns eyes to Indonesia

By Kim Yoo-chul Staff reporter SK Telecom, the nation's top mobile carrier, has taken a small but meaningful step to effectively nurture a next revenue source overseas. On Monday, the South Korean mobile operator said it had signed a deal with Indonesia's biggest phone company to establish a new digital contents business. The partnership is the first in more than six months after its chief executive Jung Man-won's pledge last year to yield visible results for the company's new growth engines. The joint venture, of which PT Telekomunikasi will own a 51 percent stake with the remaining 49 percent held by SK Telecom, will be a data exchange hub for music, games and video clips in the Southeast Asian country. "The initial combined investment will be around 12.5 billion won or $10.3 million. SK Telecom is set to invest $5 million," company spokeswoman Cindy Kang said. Under the deal, the two sides will see further chances to expand tie-ups in the business-to-business (B2B) market to offer networks- and other advanced telecom services-related products to influential

May 24, 2010By Kim Yoo-chul

Tech & Science

Chipped leadership

Samsung concerned as Toshiba closes in on NAND flash lead By Kim Yoo-chul Staff reporter Samsung Electronics, the world's largest maker of both DRAM and NAND flash memory chips, is watching its rivals gaining fast in the rear-view mirror. But it isn't shy about using its size and wallet to beat down competitors through brute force if need be. However, it now appears that Japanese rival, Toshiba, which is making some aggressive investments of its own, has no intention of backing down. Industry watchers wonder whether Samsung has become a victim of its own success, as the company seems to be seeing diminished effects from spending on chips and its No. 1 spot looks like it could be disputed. "Samsung isn't the only major chipmaker bold enough to make massive capital investments. The favorable market has rival makers spending more to improve production and enhance technologies," said Park Hyun, an analyst at Prudential Investment. Samsung already sees Toshiba inching up the ladder. Toshiba, the No. 2 NAND flash maker, has visibly closed its gap with Samsung in NAND s

May 21, 2010By Kim Yoo-chul

Kim Yoo-chul

Read more

Samsung SDS set to raise sales target

Haier teams up with Daewoo

Doosan completes US nuclear deal

SK Telecom treads carefully on overseas expansion

Samsung on cautionary note

LG Chem globe-trotting for talent

Samsung, LG move to intellectual properties

Samsung, Sony getting friendly

SKT turns eyes to Indonesia

Chipped leadership

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