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Pantech to Challenge Apple in Korea

By Kim Yoo-chul Staff Reporter Pantech, the nation's smallest handset manufacturer trailing Samsung Electronics and LG Electronics, has vowed to challenge Apple's iPhone in South Korea's smartphone sector, a senior company executive said. By reiterating the rising popularity of smartphones that run on the Google-backed Android platform in the world’s most wired country, Pantech is planning to sell 1 million of the devices by the end of this year. "We forecast Android phones will beat iPhones from the latter half of this year in terms of total shipments as Android phones are being more widely used," Lee Yong-june, who handles Pantech's domestic marketing, said in a press conference held in its headquarters in northern Seoul, Wednesday. "It's evident more Android phones will roll out during the second and third quarter, justifying our ambitious bet on the models," Lee said, adding consumers will give more credit to the Android phones. Last, domestic sales marked 3.1 million out of 9.5 million sold worldwide, a company spokesman said. Steve Park, a representative of A

Apr 14, 2010By Kim Yoo-chul
Companies

LS Develops Advanced Cable Terminal

By Kim Yoo-chul Staff Reporter Korea's LS Cable announced Tuesday that it has successfully developed a superconducting cable terminal for 154 kilovolt transmission, which the company claims is the world's highest level. The terminal is fitted for connecting superconducting cables, which are capable of transmitting a large capacity of electricity to the existing power grid, LS said in a press release. The "superconducting cable" is advanced to the point that electrical resistance has become "zero" at temperatures of -196 Celsius or lower. In a performance test, the transmission cable was shown to be able to withstand a voltage surge of plus- or minus-900 kilovolts or higher and has worked to minimize power losses while in operation, the company said. "The development will pave the way for us to effectively penetrate the lucrative, high-value cable market. As for new growth revenues, LS Cable will work harder to sharpen superconducting-related systems," Pitt Kim, a spokesman, said. The demand for such cables is expected to skyrocket as it capitalizes on the United St

Apr 13, 2010By Kim Yoo-chul
Tech & Science

Samsung Takes on Leukemia Concern

By Kim Yoo-chul Staff Reporter Samsung Electronics, the world's top maker of memory chips, is in an all-out effort to water down suspicions surrounding the series of deaths of its factory workers, due to leukemia, as claimed by civic groups. Samsung said it will fully open up one of its chip lines that produces dynamic random access memory (DRAM) memory chips called "Line 5" in Giheung, Gyeonggi Province on Thursday in a rare move to wipe out allegations that the deaths of workers are closely linked with the manufacturing processes. "It won't be just a guided tour. We will fully open up the line, allowing reporters to come in. We will take further necessary measures if the situation persists," a senior Samsung spokesman Kim Nam-yong told The Korea Times, Tuesday. Kim also added it will conduct a brief tour of the "S-Line," the line which is equipped with highly-advanced, 28-nanometer processing technology. The decision came a few days after Samsung was grappling with criticism from civic groups that the recent death of a female worker largely due to leukemia was dire

Apr 13, 2010By Kim Yoo-chul
Companies

NHN Strikes $68 Mil. Acquisition in Japan

By Kim Yoo-chul Staff Reporter NHN, Korea's top Internet portal and Web search service, said Monday it has agreed to buy Japan's Internet Portal Livedoor 68 million in a move to get a bigger share of the lucrative Japanese Internet market. The Korean operator will pay 100 billion won for a controlling stake in Livedoor, unnamed NHN executives said. An NHN spokesman officially declined to disclose the exact deal amount, citing the sensitivity of the issue. "The deal will be closed by mid-May between NHN's Japanese unit ― NHN Japan and LDH, formerly Livedoor Holdings," the official added. Livedoor is currently operating a portal drawing 30 million users per month. It was delisted in 2006 in Japan in the wake of an accounting scandal. NHN, which runs the Hangame online game portal in Japan, is dominating Web search traffic in Korea ― the world's most wired country ― and competing with Yahoo and Google in the sector. The Korean Internet operator has long been expected to buy Livedoor as it is eager to expand its footstep in Japan that it re-entered last year after l

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

Can Samsung, LG Claw Way Out of iPhone Hole?

By Kim Yoo-chul Staff Reporter The explosive growth in the demand for smartphones is happy news for some manufacturers. But that's not at all good news for others, especially for those who are still updating their strategies. Worries are running high that the relatively weaker smartphone lineups at Samsung Electronics and LG Electronics might dampen the overall profits of the world's second- and third-biggest handset vendors, respectively, according to market watchers and analysts. They say smartphones produced by top-tier players such as Apple and Microsoft and the aggressive promotions even from the followers of the South Korean duo are poised as bigger threats for the bottom line in their profits. "The outlook seems murky for Samsung's handset business. The operating profit for its telecommunication division in 2010 is expected to fall 4 trillion won due to its weaker smartphone lineups and massive promotions," a high-ranking industry watcher told The Korea Times. Samsung's telecommunication division had clinched 4.13 trillion won in operating profit for all of las

Apr 12, 2010By Kim Yoo-chul
Companies

Cosmojin Travel Goes for Niche VIP Tours

By Kim Yoo-chul Staff Reporter South Korea aims to attract 8.5 million overseas visitors in 2010, an increase from the 7.8 million that came last year. Such a jump would obviously represent a growth opportunity for the local tourism sector. Government officials say the nation's recent series of successful bids to host international conferences including the G-20 summit meeting in Seoul in November is also lifting the demand for high quality tailored travel services, giving an upswing in momentum to a local travel agency ― Cosmojin Travel Service. In addition to such favorable market situations, Cosmojin is feeling positive about its prospects for further external growth for the whole of this year as more visits by foreign executives on business trips are helping it take the "right track" in terms of revenue growth. The agency, established in 2001, is mainly offering private travel services for foreign executives, VIPs, big buyers and celebrities who come to the nation on business. It is also a coordinator of tours to the Demilitarized Zone (DMZ), a vestige of the Cold

Apr 11, 2010By Kim Yoo-chul
Companies

Doosan Names Financial Expert as 1st Woman CEO

By Kim Yoo-chul Staff Reporter South Korea's Doosan Group has named Chung Oki as the chief executive of Doosan Capital, the group said Thursday. The promotion of Chung to the top position came at a time when the 114-year-old group is undergoing a transitional shift in management toward a global firm, more recognizing one's performance than seniority. ``It's the first time for Doosan Group to name a woman as a chief executive. We are certain that she will help Doosan Capital become a top-tier loan company,'' a group spokesman Bae Kyun-ho said. Chung was a financial expert who was a vice president of GE Capital and a senior executive of CitiBank. She earned a B.A. in business at Seoul National University. Meanwhile, the group promoted another female Kang Hae-jin into the senior vice president, while it named another woman executive Lee Shin-young as a vice president.

Apr 8, 2010By Kim Yoo-chul
Companies

LS Beats Cable Giant Prysmian

By Kim Yoo-chul Staff Reporter LS Cable, the world's third-largest manufacturer of power cables, has won a combined $154 million order ― $120 million from Bahrain and $34 million from Kuwait, respectively. The maker beat out the Italy-based Prysmian Cables & Systems, JPS of Japan and Saudi Cable, for the deal, LS spokesman Pitt Kim announced, Thursday. The victory came amid the rising demand for high-voltage and electric power transmission cables in Gulf nations as they broadly expand power networks this year, LS officials said. Under the contracts, the South Korean provider will supply cables for new 220 kilovolt power networks and other related equipment to Bahrain by the end of December next year. For Kuwait, the winning bidder will deliver electric power transmission cables with 400 kilovolt ``gap conductors'' and help the country build an advanced power transmission system by the end of November 2011, the company said in a press release. A gap conductor produces high conductivity using super thermal-resistant aluminum alloy as. Without needing to add power tra

Apr 8, 2010By Kim Yoo-chul
Others

SDI CEO Bets on Green Tech

By Kim Yoo-chul Staff Reporter Samsung SDI chief executive Choi Chi-hun has his goals simplified ― he intends to raise the company's profile in lithium-ion batteries and that would mean eating the lunch of Japanese market leaders. Choi, 53, who formerly headed General Electric's Asia-Pacific unit before taking the management helm at Samsung SDI in December, is confident about the company's chance for dominance in batteries. Leaping on the bandwagon of green technology would be one way of getting there. "I want SDI to be called a great company that maximizes the value of our shareholders, customers, part suppliers and strategic partners," Choi told The Korea Times. Choi, who predicts a paradigm shift in the global consumer electronics industry, has a sharp eye for global technology trends and expects his employees to be just as aware. He is rarely seen in his office in Seoul, but is more often seen at Samsung SDI's manufacturing sites around the country or huddling with business partners and clients, company officials said. Samsung SDI's commitment in lithiu

Apr 7, 2010By Kim Yoo-chul
Others

Samsung SDI Aims for Top Spot in Lithium-ion Batteries

By Kim Yoo-chul Staff Reporter Samsung SDI, a South Korea-based maker of batteries, plans to become the world's top producer of lithium-ion batteries, a market that appears to be ripe for an explosion. Samsung SDI already has landed some major deals with global automakers, which are increasing their efforts toward the low-emission cars of the future, and another big deal is in the pipelines, company officials say, although declining to reveal the name of the carmaker. Samsung SDI is supplying its lithium-ion batteries to Germany's BMW Group through a joint venture with Bosch dubbed as SB LiMotive. The company is also looking to exploit the increasing demand in batteries for portable digital products such as smartphones, laptop computers and digital cameras. Its wealth of experience in "green" technologies is continuing to open new opportunities in different sectors, company officials said. According to Samsung SDI spokesman Seo Hae-su, it would be possible for the company to clinch the top spot in lithium-ion batteries by the end of the year, citing predictions

Apr 7, 2010By Kim Yoo-chul
  • SDI CEO Bets on Green Tech
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