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SKT in talks with Hyundai to acquire Hyundai HCN

The logo of Netflix, a leading content giant, is seen in this file photo, Tuesday. After approval from the country's top telecom regulator over its suggested acquisition deal with T-broad, SK Telecom was in discussions with Hyundai Department Store Group to purchase the latter-owned major stakes in Hyundai HCN. Korea Times fileBy Kim Yoo-chulSK Telecom is in talks with Hyundai Department Store Group to acquire a 66.2 percent stake in its pay-per-view TV operator, Hyundai HCN, an official at a top-tier local consulting firm said Tuesday.“SK Telecom approached local consulting firms and banks for a valuation of the Hyundai group-owned PPV TV operator Hyundai HCN. SK is in talks with the relevant authorities to acquire a majority stake of Hyundai HCN for an expanded presence in the growing local PPV TV market,” the official with direct knowledge of the matter said.Earlier, the SK Group telecommunications affiliate received approval from the country's top telecom regulator for its purchase of T-broad. At the time of the approval, SK Broadband, SK Telecom's fixed-line subsidia

Feb 4, 2020By Kim Yoo-chul
SKT in talks with Hyundai to acquire Hyundai HCN
Tech & Science

A free ride?

A men wearing a mask walk by an electronic board showing the Shanghai and Shenzhen stock indexes in Shanghai, China, as the country is hit by an outbreak of a new coronavirus, Feb. 3. Reuters-YonhapCoronavirus outbreak raising shortage in chips, displaysBy Kim Yoo-chulIronically, the spread of a novel coronavirus is helping leading South Korean parts suppliers see increased profits as their Chinese rivals are being forced to reduce their manufacturing volume in segments they compete in.South Korea is the home to the world's top two memory chip suppliers ― Samsung Electronics and SK hynix. Also, Samsung Display and LG Display are leading the global display market, while Samsung SDI and LG Chem are the major battery suppliers. All these firms are battling with their Chinese rivals in each business segment.Because Wuhan, the Chinese city at the epicenter of the coronavirus outbreak, is considered a “vital cog” in China's electronics industry production of both sub-assemblies and goods for leading companies, the virus could create “supply-chain” problems for top-t

Feb 4, 2020By Kim Yoo-chul
A free ride?
Politics

LG says coronavirus disrupting supply chain

An LG Display plant in Paju, Gyeonggi Province. Courtesy of LG Display By Kim Yoo-chulThe growing fear of contagion after the outbreak of a novel coronavirus is hitting the display supply chain structure, LG Display, the world's leading display supplier, said Friday.“Due to the coronavirus outbreak, it's possible that the supply of liquid crystal displays (LCDs) will be reduced. We can say the situation in China is getting gradually worse,” Suh Dong-hee, chief financial officer at the LG Group's display affiliate, told investors upon announcing fourth quarter earnings results.Regarding plans to minimize negative effects, the executive said the company will “soon decide” on its factory operation plans in China, hinting that it could extend the production break for the safety of employees working at its plants there.The monthly production capacity of LG's LCD panel plant in China's southern industrial city of Guangzhou is about 200,000. LG also runs display-manufactur

Jan 31, 2020By Kim Yoo-chul
LG says coronavirus disrupting supply chain
  • 350 evacuees from Wuhan placed in two quarantine facilities
  • 2nd chartered plane with 333 Koreans arrives in Seoul from Wuhan
  • South Korea reports 12th new coronavirus case, 70 potential cases under observation
Tech & Science

SK hynix confirms 'significant cut' in investment

This photo taken on Jan. 30 shows officials in protective suits checking on an elderly man wearing a facemask who collapsed and died on a street near a hospital in Wuhan. AFP-YonhapBy Kim Yoo-chulPossible heavy supply cuts and healthy demand for flash memory chips amid an industry shift to smartphones using fifth-generation (5G) telecommunications technology will help SK hynix's profits stay strong throughout this year.In a conference call to investors on fourth quarter earnings results, the world's second-largest memory chip vendor said it would pursue profitability over market expansion and move forward with plans to accelerate efforts for NAND flash chip migration. Unlike conventional DRAM chips, NAND chips are pricier as these are used in premium digital products such as 5G smartphones.“Last year, SK hynix invested 12.7 trillion won in facilities. But we will reduce our spending on facilities this year. The expenditure cut will be heavy and sizable and the reduced investment will affect the relevant infrastructure and equipment sectors,” finance chief Cha Jin-seok tol

Jan 31, 2020By Kim Yoo-chul
SK hynix confirms 'significant cut' in investment
Tech & Science

'5G smartphones will clearly boost chip demand': Samsung

A woman passes by an advertisement of Samsung Electronics' Galaxy 5G Note10 smartphones at its shop in Seoul, Thursday. AP-YonhapBy Kim Yoo-chulConsumer electronics products featuring faster fifth-generation (5G) telecommunications technology will “clearly boost” the demand for computer memory chips throughout this year providing fresh impetus for profit growth at Samsung Electronics.“Demand for memory chips will rise this year as the 5G smartphone market will continue to expand. Estimated overall shipments of 5G smartphones this year would range between 100 million and 300 million,” Samsung Electronics Senior Executive Vice President Han Jin-maan told investors during a conference call on the results of its 2019 fourth quarter earnings, Thursday.The Samsung executive added the world's top memory chip supplier expects the supply of high functional memory chips will remain tight, a plus factor in driving up prices. “Regarding estimated bit growth in DRAM memory chips, Samsung expects a mid-10 percent growth this year, while that for NAND flash will rise t

Jan 30, 2020By Kim Yoo-chul
'5G smartphones will clearly boost chip demand': Samsung
Tech & Science

Korean firms won't suspend plants in China

Medical staff check the temperature of passengers at Nanjing South Railway station in Nanjing, Jiangsu Province, China, Jan. 27. EPA-YonhapBy Kim Yoo-chulMajor South Korean exporters, which operate manufacturing facilities in China, said Wednesday they have no plans to close plants there despite the increasing death toll from a novel coronavirus outbreak and the growing number of infections.They said they've already restricted travel or sought to evacuate employees in an attempt to minimize their exposure and strongly warned company employees to avoid travel to China. According to companies which have manufacturing operations, there, they are “closely monitoring the current public health challenge.” An official at SK Global Chemical said its South Korean employees at a plant in Wuhan, the epicenter of the outbreak, had been evacuated with its Wuhan facility being run by Chinese workers. The company said it's been using “all options” to assess the medical condition of its evacuated employees. “The coronavirus hasn't impacted our Wuhan factory's production

Jan 29, 2020By Kim Yoo-chul
Korean firms won't suspend plants in China
  • Municipalities refuse to house 720 from Wuhan
Companies

Ruling party hints at nullifying $4 bil. acquisition deal

By Kim Yoo-chulA senior ruling party lawmaker hinted at the possibility of nullifying Delivery Hero's $4 billion acquisition of Woowa Brothers if it fails to clarify detailed plans on how to guarantee fair market competition covering “multiple aspects.”“The ruling Democratic Party of Korea (DPK) is communicating with presidential aides about addressing the possible negative aspects of the recently proposed acquisition deal between Delivery Hero and Woowa Brothers. The DPK is also talking to the Fair Trade Commission on the matter. We don't want to think about the worst case scenario but we didn't rule out the possibility,” the lawmaker told The Korea Times.Woowa Brothers has been one of the fastest growing online food delivery service providers in Korea, with over 30 million orders per month. From a business standpoint, the deal does make sense as the acquisition, if completed, will strengthen the capabilities of both companies which are already facing a steep rise in competitors such as Uber Eats and Coupang Eats.For investors, a foreign merger also dissolves

Jan 28, 2020By Kim Yoo-chul
Tech & Science

Unprecedented supply cuts to boost Samsung, SK

An Intel Tiger Lake chip is displayed at an Intel news conference during the 2020 CES in Las Vegas, Jan. 6. Reuters-YonhapBy Kim Yoo-chulLast year was disastrous for Samsung Electronics and SK hynix in terms of profits from memory chips due to an unprecedented steep downturn that resulted in all semiconductor manufacturers reducing spending and production capacity.But this year is expected to be different as the massive supply cuts start to have an effect on the overall industry as demand rebounds to restock inventories. This is anticipated to stabilize prices of both DRAM and NAND chips throughout the year.Samsung Electronics has the largest share of the global market for DRAMs, which is used in all digital devices, followed by the SK Group affiliate. Samsung is also the largest supplier of NAND-type chips used in value-added consumer products and corporate servers.However, their profitability is dependent upon the semiconductor price curve with macroeconomic factors affecting overall supply and demand structures.“Following worse-than-expected oversupply in 2019, we forecast s

Jan 27, 2020By Kim Yoo-chul
Unprecedented supply cuts to boost Samsung, SK
Companies

China guarantees aid packages for Celltrion

Celltrion CEO Gi Wo-seong, left, signs a contract with Chen Ping, director of the administrative committee of the East Lake High-Tech Development Zone (Optics Valley of China), after the South Korean biosimilar manufacturer agreed with Hubei regional government to build a pharmaceutical plant in the regional city, Wuhan, China, Tuesday. YonhapBy Kim Yoo-chulSouth Korea's leading biosimilar manufacturer Celltrion said Tuesday it has signed with a regional government in China to build a plant with a 120,000 liter production capacity in a bid to cash in on the growing pharmaceuticals market.In a statement, Celltrion said it has signed a contract with Hubei provincial government, central China. The agreement is calling for the South Korean manufacturer to build a new manufacturing facility with the Chinese regional government providing it with various tax benefits and administrative support.“Given the adequate infrastructure for development and growth of bio processing industries and as Wuhan, the city inside the Hubei Province is the home to more than 200 bio and pharmaceutical co

Jan 21, 2020By Kim Yoo-chul
China guarantees aid packages for Celltrion
Tech & Science

Samsung replaces mobile boss amid challenges

A Vietnamese couple use their smartphones while sitting with their dogs by the Hoan Kiem lake in Hanoi on Jan. 12, 2020. AFP-YonhapBy Kim Yoo-chulAs a series of budget and affordable smartphones from Apple and Google, as well as from Chinese manufacturers will arrive this year, market leader Samsung Electronics presented its plan on where the industry is headed and how it will position itself in the already-saturated market by naming a new mobile boss, Monday.In a statement, Samsung Electronics said it had named Roh Tae-moon as the chief of its smartphone business. The 52-year-old senior Samsung executive is well-known and is expected to significantly help the firm cement Samsung Galaxy's brand awareness in the industry.But one interesting takeaway for Monday's replacement of Samsung mobile chief is Roh has been outspoken on the “fact” that there are strategic issues that need to be fine-tuned and addressed to keep the momentum of Samsung's smartphone businesses alive from a profit standpoint. “In light of the shrinking smartphone market, Samsung was hoping to conti

Jan 20, 2020By Kim Yoo-chul
Samsung replaces mobile boss amid challenges
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