Articles by 김지현
김지현
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Samsung to audit financial units in wake of scandal
Samsung Group will audit its financial units this month, including key affiliates such as its insurance arms following a scandal at another subsidiary, industry sources said on Monday.The move would mark the first audit on the financial units since 2003. The group’s auditing team will first review the business operations of Samsung Fire & Marine Insurance later this month, before a separate audit
Industry July 4, 2011
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Embattled Samsung LCD unit absorbed into new division
Samsung on Friday merged Samsung’s Electronics’ embattled liquid crystal display unit into a newly created Digital Solutions division to be headed by Kwon Oh-hyun, chief executive of the company’s semiconductor business.Chang Won-kie, chief executive of the LCD unit, was removed from his post to become adviser to Kwon in a move that industry watchers saw to be a demotion criticizing Chang’s role f
Industry July 1, 2011
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Hynix CEO new head of chip association
Kwon Oh-chul, chief executive of Hynix Semiconductor, on Friday was inaugurated as the chairman of the Korea Semiconductor Industry Association. Kwon became the first executive not come from Samsung Electronics to become chairman. Kwon’s term will be until March of 2013. Kwon Oh-chul“Semiconductor demand has been sluggish on the back of a slower than expected recovery in the global economy, makin
Industry July 1, 2011
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SKT, LG Uplus to start commercial LTE services
SK Telecom Co. and LG Uplus Corp. plans to start commercial services of the “Long Term Evolution” mobile technology to usher in the long-awaited era of fourth-generation wireless networks, the companies said on Thursday. LTE is cited as the next-generation mobile technology following the current 3G, and promises to offer an Internet data transmitting speed of up to five to seven times existing net
Industry June 30, 2011
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Samsung seeks to bar Apple’s U.S. sales
Korean company asks U.S. commission to block imports of mobile devicesSamsung Electronics has taken another legal step in its strife with Apple Inc. by requesting that the U.S. International Trade Commission block the import of overseas-made iPhones, iPads and iPods into the U.S.Samsung’s complaint involves all “mobile electronic devices, including wireless communication devices, portable music an
Industry June 30, 2011
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CJ Group hit by acquisition costs
Korea Express union opposes takeover, worries about job losses from potential merger with GLSHefty acquisition costs and bad blood with Samsung have left CJ Group pondering how to overcome the multiple hurdles it faces as the preferred bidder for logistics giant Korea Express, industry watchers said.At the top of the agenda is addressing industry concerns that CJ would have a tough time coming up
Industry June 29, 2011
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Corporate Korea braces for multiple unions
Companies quietly pulling out all stops to keep unions to minimumFollowing is the second in a two part series featuring multiple labor unions that will be introduced in Korea on Friday. ― Ed.The top brass at Korean companies are on high alert over challenges they could face when multiple unions become legal as of July 1. Conglomerates, some of which have enjoyed years without the nagging presence
Industry June 29, 2011
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LG smart appliances attract crowds
LG Electronics, the world’s leading household appliance maker, is poised to push up the quality of appliances by several notches with the introduction of savvier smart appliances.“Smart appliance” has become one of the industry’s new buzzwords, quickly picking up on the growing demand from consumers to live smarter and more economically at not just the office, but at home.LG Electronics, as the in
Industry June 28, 2011
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CJ named Korea Express bidder
Samsung Group denies involvement in bidding processCJ Group was selected Tuesday as the preferred bidder in the controversial race to acquire a sizeable stake in logistics company Korea Express. If all goes smoothly, the conglomerate will be on its way to achieving its long-term goal of creating Asia’s largest logistics company by 2015. Korea Express is likely to fetch up to 2 trillion won ($1.8 b
Industry June 28, 2011
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LG CNS plans global data center in Busan
LG CNS on Tuesday signed an agreement with Busan to build the country’s first global data center as a joint effort between the private and public sector in the port city. The “Global Cloud Data Center” will be erected by December 2012 within Busan-Jinhae Free Economic Zone and will go down as the largest such facility, covering 133,000 square meters. “By combining the high-quality cloud services o
Industry June 28, 2011
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CJ, Samsung locked in unlikely feud
CJ Group claims Samsung affiliates conspired to acquire Korea Express; Lotte gives up on bidCJ Group said it will retaliate against what it claimed was Samsung Group’s deliberate act of betrayal regarding the bidding for Korea Express, the nation’s top logistics company.CJ is to take legal action against Samsung Securities for breaking off a sales advisory contract after being privy to critical in
Industry June 27, 2011
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Illegal corporate perks back in spotlight
SK, ex-tax official under probe over suspected kickbacksNew light was shed on the problematic practice of former civil servants’ perks on the discovery that an ex-executive at the National Tax Service received sizeable paychecks from local companies.Lee Hee-wan, formerly head of the tax office’s investigative unit is suspected of receiving 3 billion won ($2.7 million) from SK Group’s affiliates fo
Industry June 26, 2011
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Seoul bourse expected to gain ground
South Korea’s stock market is expected to continue its upward movement this week as investor worries over high energy prices may ease and outlooks for major economies could improve, analysts said Saturday.Still, anxiety remains that the debt crisis in Greece might hurt investor sentiment significantly and reverse the market course, they noted.The country’s key stock index, the KOSPI, gained 2.89 p
Industry June 26, 2011
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Work starts on second Incheon Airport terminal
Work has started on the third phase of the Incheon International Airport expansion plan that will fuel growth of the key Northeast Asian transportation hub, the Incheon International Airport Corp. (IIAC) said Sunday.The state-operated corporation said that it picked blueprints for the airport’s second passenger terminal drawn up by a consortium led by Heerim Architects and Planners Co.It said the
Industry June 26, 2011
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Samsung Electronics may face penalty for obstruction: FTC
Samsung Electronics may be penalized for obstructing an investigation by the Fair Trade Commission.Sources from the antitrust watchdog said the agency is considering penalties over an incident in March when employees of Samsung Electronics’ Suwon plant barred the commission’s investigators from entering the facility.The investigators had been dispatched to monitor the manufacturing price of mobile
Industry June 26, 2011
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