Sony’s planned restructuring of its key television business will allow Chinese flat-panel TV makers to buy some time to catch up to Samsung Electronics and LG Electronics, analysts and industry sources said.Japan’s biggest electronics company, which led in the analog age with innovative consumer products such as the Walkman and Discman, announced last week that it would spin off its ailing TV unit and sell off the PC business.The move comes after years of steep losses, and Sony is now seeking to

Technology Feb. 9, 2014

New media has ushered in a new era where anyone can produce and broadcast content, and become a star instantly.Easier access to the Internet, high-quality cameras and editing software have made video production and distribution simple, allowing platforms such as Google’s YouTube and Korea-based AfreecaTV to gain ground over traditional media.The two share similarities as video-sharing sites and have proven to be effective in marketing brands and stars, as seen from Korean rapper Psy’s “Gangnam S

Technology Feb. 5, 2014

We talk a lot about corporate culture, but it’s worth dwelling on how Korea’s dominant corporate structure has affected the arts and the ability of Korea’s artists to succeed. The success of Korea’s conglomerates in recent years hasn’t been matched by other parts of the economy. Just two companies ― Samsung Group and Hyundai Motor Group ― generated over 30 percent of Korea’s operating profits in the fourth quarter. That’s a tribute to those companies’ innovations and hard work. But surely Korea

Technology Feb. 5, 2014

LG Uplus was always the smallest and branded the worst telecommunication service provider that stood in the shadows of SK Telecom and KT.Feature phones carried by LG Uplus did not work especially in provincial areas, and its fiber optic broadband was weak compared to its rivals, leading many a consumer to shun its services.Just when it was struggling to find the next big thing that could help the company surpass the formidable No. 2 KT, if not SKT, LG Uplus headed by CEO Lee Sang-chul pounced on

Technology Feb. 3, 2014

Lenovo, the world’s largest personal computer maker, is ready to beef up its smartphone business with the aim of selling more than 100 million units globally in two years as soon as the U.S. approves its acquisition of Google’s Motorola Mobility.Its goal is to gain hard on the heels of Samsung Electronics and Apple, the world’s top smartphone makers, following its $2.9 billion acquisition, which marks the fourth-biggest by a Chinese company.This has enabled the Chinese PC maker to further boost

Technology Feb. 2, 2014

Time has come for Hwang Chang-gyu to prove his ability to overcome a crisis as he officially takes the helm at KT, Korea’s second largest mobile carrier, Monday.Faced with a lackluster earnings outlook and negative public image due to a corruption scandal concerning Hwang’s predecessor Lee Suk-chae, not to mention an overgrown bureaucracy, Hwang will be expected to roll up his sleeves as soon as he takes office to start fixing the mess with a solid business plan for the future.KT is currently fa

Technology Jan. 26, 2014

Cardoc is set to further expand this year, having secured a significant number of partners in the automotive aftermarket and a high level of customer satisfaction for its services.The Korean venture firm, which provides auto repair cost estimates through its mobile Cardoc platform, seeks to grow through ties with repair shops in untapped provincial areas, such as Jeolla and Gangwon provinces. It is also lining up potential strategic investors, including Daum Communications, Korea’s second-larges

Technology Jan. 26, 2014

Korea’s real estate sector has grown along with its economy. During this time, the market has also dramatically changed. The country, which used to house clusters of shacks in major cities such as Seoul and Busan in the aftermath of the Korean War, is now filled with high-rise apartments and skyscrapers.The economic development boom in the 1970s paved the way for the country to alter its real estate landscape by rapidly building standard four-bedroom apartments that could accommodate large famil

Jan. 22, 2014

The Ministry of Science, ICT and Future Planning said Monday that the Ministry of Strategy and Finance plans to soon launch a feasibility study on the ICT agency’s plan to expand the nation’s supercomputer network infrastructure.It could take about six months for the Finance Ministry to complete the feasibility study and allow the ICT Ministry to proceed with adopting supercomputers beginning in 2016, an ICT Ministry official noted.It seeks to secure a budget of around 200 billion won ($188 mill

Technology Jan. 20, 2014

LG Group’s key tech subsidiaries, such as LG Electronics and LG Display, are expected to face uphill battles this year as they try to regain their former glory and narrow the gap with leaders in the television and smartphone markets.Macroeconomic uncertainties stemming from monetary cuts in the U.S. and the Japanese yen’s depreciation are further clouding LG’s prospects for this year as such factors will affect overseas sales especially in emerging markets most vulnerable to quantitative easing

Technology Jan. 17, 2014

The Fair Trade Commission, the nation’s regulatory authority for fair competition, said Tuesday that it would draw up measures and revise patent-related laws to protect domestic tech companies from an increasing number of abusive practices by nonpracticing entities.The country’s toughened stance follows a global move against NPEs, known as patent trolls whose only purpose is to seek profit through patent infringement lawsuits against global tech giants.NPEs, which purchase and hold as many paten

Technology Jan. 15, 2014

  Global 3-D printer makers are gearing up to expand in Korea this year to boost their services for manufacturing giants such as Samsung Electronics and Hyundai Motor and tap potential customers.3-D Systems, founded in 1986, is one of the global leading printer makers seeking growth in Asia’s fourth-largest economy, where Samsung and Hyundai Motor have been its key tech customers. “We intend to grow our base there,” Cathy Lewis, chief marketing officer of 3-D Systems, told The Korea Herald durin

Technology Jan. 15, 2014

Hyundai Amco and Hyundai Engineering, Hyundai Motor Group’s two construction arms, are expected to merge as soon as the National Tax Service completes its regular audit of Amco in March or April, multiple industry sources said Tuesday.Due diligence for the merger has already been completed, a source noted.This is part of the Korean auto giant’s succession plan for its chairman Chung Mong-koo’s son Eui-sun, the group’s vice chairman.The merger is also part of its step to refine the group’s cross-

Industry Jan. 14, 2014

Korean companies have been increasing their spending on entertainment and meals for their clients since 2009 despite an economic slowdown triggered by the global financial crisis, according to data by Chaebul.com, an online corporate information provider.Manufacturers and non-manufacturers’ entertainment spending reached a total of 6.6 trillion won ($6.24 billion) in 2012, according to the website’s data compiled from the Bank of Korea, Small and Medium Business Administration and Statistics Kor

Jan. 14, 2014