my timesThe Korea Times

Kim Yoo-chul

Korea Times Business Reporter

Go to Email

Read more

Companies

Samsung expected to post record profit in 2nd quarter

By Kim Yoo-chul Staff Reporter Samsung Electronics is set to extend its streak of record-breaking profits in the second quarter thanks to increasing demand powered by the global economic recovery. This robust outlook is pushing Samsung, the world's biggest technology company by revenue, to expand its spending on key facilities from memory chips to flat-screens. The only hurdle is the iPhone fever that is denting the world's second largest mobile phone maker. The optimistic outlook came after Samsung reported that its net profit for the first quarter jumped almost sevenfold after rebounding demand for PCs drove up chip prices. Net profit was 3.99 trillion won, up from 582.2 billion won a year earlier. Sales increased 21 percent to 34.64 trillion won. Operating profit or sales minus the cost of goods sold and administrative expenses was 4.41 trillion won, up from 593 billion won, the company said in a regulatory filing with the Korea Exchange (KRX). "Samsung is cautiously optimistic that second-quarter earnings will improve from the first quarter. As for the second

Apr 30, 2010By Kim Yoo-chul
Companies

Daewoo Electronics to Find New Owner by July

By Kim Yoo-chul Staff Reporter The chief executive of Daewoo Electronics, the maker of refrigerators and washers, said Wednesday that it will find a new owner by the end of July this year, at the earliest. "The sale process will be completed sometime in July after two more months of internal check-ups by the preferred negotiator," CEO Lee Sung said in a press conference held in a Seoul hotel. Lee was attending on the sidelines of an event to launch 25 of its new home appliances. "We won't drop the brand 'Daewoo' even after the acquisition. Thanks to intensive workout programs, Daewoo is well positioned in terms of labor and unit efficiencies," the top executive said. The remarks came after Iranian appliance maker Entekhab Industrial Group was named as the preferred bidder for Daewoo in a deal reportedly worth over $540 million. Daewoo's leading creditor Woori Bank is aiming to sign a preliminary deal with Entekhab soon and hopes the final agreement materializes by the end of July. Sweden-based appliance giant Electrolux was named as the reserve bidder in case t

Apr 28, 2010By Kim Yoo-chul
Companies

Samsung SDI Turns Big Quarterly Profit

By Kim Yoo-chul Staff Reporter Samsung SDI, a maker of lithium-ion batteries and AM OLED screens, was confirmed as one of the winners among related global parts suppliers amid the rising popularity of the components-embedded consumer electronics including smartphones. In a regulatory filing to the Korea Exchange (KRX), the South Korea-based company said its first quarter operating profit spiked by 72 percent year-on-year to reach 64.6 billion won. Sales for the first three months of this year also rose by 17.8 percent at 1.2 trillion won during the same period. Quarterly net profit, however, declined by 12 percent at 46.7 billion won mainly due to the foreign currency fluctuation, it said in the filing. SDI has announced its financial statements under International Financial Reporting Standards (IFRS). "Although the dollar-won rates were unfavorable, the steady demand for lithium-ion batteries and the lucrative growths in our plasma displays helped SDI achieve such results," a company spokesman Seo Hae-su said, Wednesday. SDI, which aims to become the leading l

Apr 28, 2010By Kim Yoo-chul
Tech & Science

LG Profit Edges Up in First Quarter

By Kim Yoo-chul Staff Reporter LG Electronics, Korea's top-tier consumer electronics company wasn't too pleased with its overall first quarter results. But, by many aspects, it has fared relatively well, thanks to the strong performance of its television and home appliance units. Good showings from its flat-screen televisions are expected to lead earnings growth at LG Electronics for the remainder of this year as general consumers are buying more LED-backlit LCD TVs, three dimensional TVs, in addition to conventional LCD and plasma TVs amid the global economic recovery. But it still remains uncertain how dramatically its struggling handset division will break free from the losing business momentum. LG is the world's second-biggest flat-TV maker after Samsung, while it trails Nokia and Samsung in the global handset industry. On Wednesday, LG said its first quarter operating profit was 529.4 billion won from 515.9 billion won year-on-year, while net profit swung to 674.6 billion won from a loss of 199.9 billion won during the same period. Sales were up 4 percent at 13.7 tr

Apr 28, 2010By Kim Yoo-chul
Companies

LG Innotek Swings to Profit in First Quarter

By Kim Yoo-chul Staff Reporter LG Innotek, the component making affiliate of LG Electronics, said Monday its operating profit was 42.4 billion won for the first three months of the year thanks to the strong contribution of its light-emitting diode (LED) business. Worries over its plan to issue new shares washed off. On Monday, shares of LG Innotek rose 9.62 percent to end at 159,500 won on the nation's main bourse, according to data from the Korea Exchange (KRX). In a regulatory filing, Innotek said sales rose by 81.1 percent to 774.9 billion won from a year ago, while operating profit surged by 231.2 percent during the same period. The operating profit of its LED business was a quarterly record of 155.1 billion won, it said. LG Innotek, which makes mobile phone components such as LCDs and camera modules, announced the result using the International Financial Reporting Standards (IFRS). ``Our display and network units have also helped strengthen our cash-balance sheets. We are positive over the bullish run in the current quarter,'' a company spokesman Jung Jae-wook sa

Apr 27, 2010By Kim Yoo-chul
Tech & Science

SK Telecom Duels With iPhone

By Kim Yoo-chul Staff Reporter SK Telecom, the country's biggest mobile-phone carrier, is going all out to overthrow the reign of the Apple iPhone in the local mobile-phone market. It remains to be seen whether its slew of premium handsets powered by the Google-backed Android operating system will be up for the task. The intensifying smartphone war between Apple and Google is becoming cutthroat in Korea, turning into a fight of bragging rights between SK Telecom and bitter industry foe, KT, which managed to sell more than 500,000 iPhones in just four months into its release, at the end of March. Of course, SK Telecom, the No. 1 wireless carrier that controls more than 50 percent of the country's mobile-phone users, isn't too happy about compromising some of its supremacy to the iPhone-wielding KT. The carrier will release 10 new smartphones alone throughout June, a stark comparison to the struggles of KT, which has yet to secure a convincing in-house device as a follow-up to the iPhone. Eight of SK Telecom's new smartphones will be powered by Android, including S

Apr 26, 2010By Kim Yoo-chul
Companies

LG Chem Wins Volvo Deal

By Kim Yoo-chul Staff Reporter LG Chem has just added Volvo to its list of customers for batteries for its planned electric vehicles (EVs). On Monday, the South Korean supplier said it was chosen by Volvo for the provision of its lithium-ion polymer battery packs. LG Chem spokesman Song Choong-sup said the focus of the partnership is cooperation in the development of next-generation technology for use in hybrids and EVs. Analysts and industry officials say the deal will last for at least three years from 2011, while the total value is estimated at "a few billion dollars." LG's Song didn't provide any specific financial details. The deal confirms LG Chem's high standing among battery makers for hybrid electric vehicles (HEVs), now a key part of automakers' line-ups in response to tighter emission standards. Volvo is pushing for its clean-energy car programs to explore its business opportunities in both emerging and developed markets. Song said the deal will pave the way for the company to clinch more such deals in the future. LG Chem, which has already inke

Apr 26, 2010By Kim Yoo-chul
Companies

SKT, CT&T Sign Key Mobile Deal

By Kim Yoo-chul Staff Reporter SK Telecom, the nation's biggest mobile carrier, said Sunday it has clinched a mobile technology supplement deal with South Korea-based electric vehicle manufacturer CT&T. Under the alliance, the companies will jointly develop mobile technology that will eventually be used in CT&T's upcoming electric vehicles from 2011. "We've signed a memorandum of understanding (MOU) with the mid-sized carmaker in Beijing," Cindy Kang, a company spokeswoman, said. The mobile in vehicle (MIV) technology enables a mobile phone inside a car to automatically control car systems such as the battery, brakes and oil status, and makes it possible to realize mobile contents while driving, Kang said. SK Telecom already developed MIV-related technology last year for a "litmus test" and the official added the partnership aims to sharpen the technologies for an immediate implementation. "The companies will run several 'working groups.' Among the main tasks are to develop mobile software based on MIV platforms for electric vehicles and to boost related technologi

Apr 25, 2010By Kim Yoo-chul
Tech & Science

TV Makers Issue 3D Health Warning

By Kim Yoo-chul Staff Reporter Although major television makers are rushing to produce 3D TVs, they are bound to be less than forthcoming with some of the side effects such as potential health hazards. Samsung Electronics, the global electronics giant, came out with one warning. LG Electronics is already letting the consumers know of them. Samsung has recently issued a health warning about the potential dangers of watching 3D television. It says pregnant women, the elderly, children and those suffering from serious medical conditions are among a wide range of people said to be at risk. Sleep deprivation or consumption of alcohol while watching 3D programs could be unsafe, Samsung said on its Australian Web site, recently. Even watching 3D programs for too long could cause confusion, nausea, dizziness or convulsions, according to Samsung. It was the first warning of its kind since the firm made a massive pitch for 3D TV late last year. "Cautious but pre-emptive approaches are needed as watching 3D programs is a totally new experience for people," a compa

Apr 25, 2010By Kim Yoo-chul
Tech & Science

LG Cautious in Timing of Tech Jump

By Kim Yoo-chul Staff Reporter Advancement in technology is often a life-or-death matter for electronics firms, perhaps even more so for parts makers such as LG Display, the South Korean liquid crystal display (LCD) giant. However, equally crucial is avoiding spending too much money to get ahead when the risk is jumping the gun. Meeting with reporters, Thursday, LG Display chief executive Kwon Young-soo revealed that the company has no immediate plans to invest in technology for 11th-generation LCD panels. LG Display and domestic rival Samsung Electronics, the world's top-two makers of LCD panels, are still relying on eighth-generation technologies for their bread-and-butter, while their Japanese and Taiwanese rivals have begun dabbling with 10th-generation production lines. In LCD manufacturing, each "generation" represents technology that allows manufacturers to produce larger panels at a cheaper cost. The manufacturing process involves sheets of larger, fabricated glass substrates, each called "mother glass," being cut into smaller units for LCD and plasma

Apr 23, 2010By Kim Yoo-chul
previous page
290291292293294
next page

Top 5 stories

Korea Times
About Us
Introduction
History
Contact Us
Products & Services
Subscribe
E-paper
RSS Service
Content Sales
Site Map
Policy
Code of Ethics
Ombudsman
Privacy Policy
Youth Protection Policy
Terms of Service
Copyright Policy
Family Site
Hankookilbo
Dongwha Group
FacebookXYoutubeInstagram
CEO & Publisher: Oh Young-jinDigital News Email: webmaster@koreatimes.co.krTel: 02-724-2114Online newspaper registration No: 서울,아52844Date of registration: 2020.02.05Masthead: The Korea TimesCopyright © koreatimes.co.kr. All rights reserved.