Cook Medical is not hesitant about competing with Samsung, which runs medical equipment maker Samsung Medison and hospitals in Korea, believing that smaller companies with firmer roots in the business have a better chance of success than those with no medical business history. “When it comes to Samsung, which is getting into the medical device market, the firm is another competitor. We will adapt and I am very confident about competing (with Samsung) because of our advanced technology and becaus

Industry Oct. 10, 2013

Science, ICT and Future Planning Minister Choi Mun-kee and eBay CEO John Donahoe discussed ways to grow the creative economy through online commerce during their meeting on Tuesday, officials said.During the meeting in Seoul, Minister Choi asked for the e-commerce giant‘s efforts to support and protect online merchants and consumers, the officials said.They said Donahoe expressed his support for government measures including the expansion of cross border trade enabling Korean merchants to sell t

Industry Oct. 8, 2013

LG Chem announced the mass production of a series of new batteries Tuesday ― stepped, curved and cable-type ― heralding the imminent arrival of wearable smart gadgets with unique designs including curved and bendable smartphones and smart necklaces. The announcement is expected to spark renewed competition between Samsung and LG, as the former has been saying it may release the “Galaxy Round,” a curved smartphone that will be fitted with flexible AMOLED displays from Samsung Display, as early as

Industry Oct. 8, 2013

A general manager of IBM’s security business division warned that attacks would be more malicious and sophisticated than in the past, urging companies to be prepared and vigilant. “There will always be attackers, especially when all of those technologies including cloud and mobile newly emerge,” said Brendan Hannigan, general manager of IBM’s security systems division, at a meeting with reporters in Seoul on Tuesday. “IBM’s aim is to address the need for new approaches to secure businesses.”Ther

Industry Oct. 2, 2013

Merck KGaA, a leading chemical and pharmaceutical company, held its Displaying Futures Symposium in Seoul on Wednesday under the theme of “ubiquitous interaction.”The annual event was held in Japan and Taiwan in 2011 and 2012, respectively. “The conference provides a chance for all participants to rethink the interaction between people and displays,” said Walter Galinat, president of performance materials of the German firm, at a press meeting in the morning prior to the symposium. “With the Dis

Industry Oct. 2, 2013

Park Byeong-yeop, founder and vice chairman of Korea’s third-largest mobile device maker Pantech Corp., decided to leave the firm to take responsibility for sluggish business.He is the latest casualty among a list of so-called legendary businessmen after Woongjin Group founder Yoon Seok-keum and STX Group founder Kang Duk-soo, who had once garnered respect from office workers for their dramatic success stories.Starting his career as a salesperson at telecommunications device maker Maxon Electron

Industry Sept. 25, 2013

Samsung Electronics held global media events for its flagship phablet Galaxy Note 3 and smart watch Galaxy Gear prior to the official worldwide release Wednesday. The electronics giant said it held a media event in Beijing Monday as part of Samsung’s global release of the new gadgets. Some Chinese news outlets predicted the success of the new Galaxy phablet, with one saying, “The new Galaxy lineups are all set to take on the Chinese market with a solid fan base of 8 million users.”Monday’s event

Industry Sept. 24, 2013

LG Electronics said Tuesday that it won for the first time a “water footprint” certification from an international product safety testing organization. The Korean electronics firm said its two washing machines WM8000HVA and WM8000HWA received the certification from Underwriters Laboratories, a safety consulting and certification company based in the United States. The recognition came after the firm completed a similar energy efficiency test of its washing machine lineup with Det Norske Veritas,

Industry Sept. 24, 2013

Korean mobile carrier KT chairman Lee Suk-chae stressed the importance of collaboration between governments and private firms to help developing nations improve their economies at the eighth meeting of the Broadband Commission for Digital Development in New York on Saturday. “KT’s joint establishment of an LTE firm with the government of Rwanda will be an exemplary model available for developing nations that seek cooperation of private firms for social and economic development,” Lee said in a sp

Industry Sept. 22, 2013

Apple’s new iPhones released last Friday are already making waves around the world, with many wondering if a new Apple frenzy will sweep the Korean market once again. One thing that has urprised market experts and others is that the new 64-bit A7 processor for the high-end iPhone 5S is reportedly manufactured by Samsung Electronics.“Apple and Samsung have maintained a business relationship for a long time since the release of the first iPhone, and the relations will be solid for a while if the m

Industry Sept. 22, 2013