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Friday, December 15, 2017

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The Fair Trade Commission (FTC) of Korea will decide whether or not it will order Samsung C&T to sell off additional shares as early as within this year.

Disposal of Samsung C&T Shares

14 December 2017 - 10:15am
Jung Suk-yee

The Fair Trade Commission (FTC) of Korea began a review of the disposal of five million Samsung C&T shares in accordance with the merger of Samsung C&T and Cheil Industries. The FTC will decide whether or not it will order Samsung C&T to sell off additional shares as early as within this year. To this end, the FTC is preparing a plan to amend the Guideline on the Enforcement of Law to Ban Cross-Shareholdings for Mergers.

According to the FTC and external experts on December 12, the Committee of the Whole of the FTC introduced an amendment to the guideline at the end of...

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Intel acquired Mobileye, the world's No. 1 company in self-drive software that supplies software to Nissan, BMW, GM and Hyundai Motor,

Samsung-Intel Competition

14 December 2017 - 10:00am
Cho Jin-young

The competition between Samsung Electronics and Intel has been getting fierce in the autonomous mobile industry as Samsung Electronics and Intel took over self-driving software and device developers one after another.

On November last year, Samsung Electronics took over Harman, the world’s top ranker in the electronic auto device industry for US$8 billion and has been spurring the autonomous driving and electronic auto device industries. 

In addition, Samsung Electronics overtook Intel in terms of sales in the second quarter of this year, surpassing Intel to rank first in the...

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The South Korean government has decided to focus more on protecting consumers instead of implementing an all-out ban on cryptocurrency trades.

Restrictive Allowance

14 December 2017 - 9:15am
Yoon Yung Sil

The South Korean government has decided to focus more on protecting consumers instead of implementing an all-out ban on cryptocurrency trades after an emergency policy meeting on December 13. It plans to concentrate on “management” rather than blanket regulations. However, it is still unclear whether the decision will be able to control the craze for betting money on digital currencies. Some market experts also say that it can cause other problems as the government still hasn’t even defined what virtual currencies are.

In the discussions, some from the Ministry of...

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Renovo, a Silicon Valley-based developer of automotive software such as the OS for autonomous driving cars, is conducting an autonomous driving test in Silicon Valley (photo courtesy: Renovo)

Fostering Future Business

14 December 2017 - 9:00am
Cho Jin-young

Samsung Electronics is stepping up its efforts for the future automotive software business. As Sohn Young-kwon, the president and director of the Samsung Strategy Innovation Center (SSIC), has a bigger role to play, the company is showing more active moves for fostering future business.

Renovo, an automotive software developer in Silicon Valley, the US, said on December 12 (local time) that the company would load the "Aware," an AMoD operating system (OS) into its self-driving test vehicle in concert with the SSIC.

The SSIC decided to invest in the company with Verizon in...

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Hyundai Motor Commercial Vehicles Division VP Lee In-cheol (right in the front row) and AG Group President Iki Wibowo (left) shake hands after signing an agreement on jV at the Indonesian Embassy in Seoul on Dec. 12. (photo courtesy: Hyundai Motor)

Accelerating SE Asian Market Development

13 December 2017 - 12:00pm
Jung Min-hee

Hyundai Motor Co., South Korea's largest carmaker, has signed a business deal to set up a commercial vehicle joint venture with the tenth largest business group in Indonesia to tackle the Southeast Asia market. It is part of its strategy to meet the demand of rapidly growing Association of Southeast Asian Nations (ASEAN) markets through local production.

Hyundai Motor announced that it has signed a joint venture agreement with Indonesia’s Artha Graha (AG) Group at the Indonesian embassy in Yeouido, Seoul, on December 12.

The two companies will set up a commercial vehicle...

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Global big players starts biting on the Samsung’s stakes in Hanwha Group’s chemical unit worth 1 trillion won (US$914.16 million).

Amid High Profile

13 December 2017 - 11:45am
Yoon Yung Sil

As Samsung Construction and Trading (C&T) and Samsung SDI are moving to sell their stakes in Hanwha Group’s chemical unit worth 1 trillion won (US$914.16 million), global big players starts biting. This shows a high profile in the petrochemical business, which has entered the “super cycle” along with memory chips.

According to investment banking (IB) industry sources on December 12, Samsung C&T and Samsung SDI, which own a 25.1 percent stake in Hanwha General Chemical, are planning to carry out a preliminary bid through Citigroup Global Market Securities that leads the sale...

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IoT thermostat of LG U+. (photo courtesy: LG U+)

Temperature Controlled by Smartphones

13 December 2017 - 11:30am
Cho Jin-young

LG U+ released an IoT thermostat with Honeywell on December 12 so that customers can use Honeywell thermostats connected to IoT@home, an IoT app of LG U+, based on their smartphones and the temperatures of the rooms in their houses can be controlled around the clock both at home and outside.

The IoT@home app sounds an alarm when heating remains turned on for too long. In addition, heating costs are shown in detail in graphs and tables so waste of energy can be avoided. Those using previously installed Honeywell thermostats...

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Samsung Electronics will introduce HDR10 Plus video content with Amazon.

More Natural Picture Service

13 December 2017 - 11:15am
Cho Jin-young

Samsung Electronics will introduce HDR10 Plus video content with Amazon. Videos based on HDR10 Plus technology have stronger brightness and contrast, resulting in more natural pictures.

Samsung Electronics announced on December 12 that viewers would be able to enjoy premium video content with HDR10 Plus through video streaming app 'Amazon Prime Video'. The target audience is users of QLED TVs and UHD TVs launched in 2017. The service will start on December 13.

HDR10 Plus is a next-generation standard visual technology developed by Samsung Electronics. This technology...

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A very large crude oil carrier (VLCC) built by Hyundai Heavy Industries.

Higher Ship Prices Expected

13 December 2017 - 11:15am
Jung Min-hee

It is noteworthy that ship prices will rise next year with the shipbuilding industry shrinking recently due to forecasts about hundreds of billions of won in loss by Samsung Heavy Industries. This is because a rise in ship prices is highly likely to pull up prices of orders across the board and make an improvement to shipbuilders’ business performances.

According to the shipbuilding and securities industries on December 12, it was forecast that prices of Korean ships will inflate about 15% this year thanks to a strong Korean won, rising steel prices and limited competition among...

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Samsung Electronics and LG Electronics submitted their written opinions to the U.S. government to refute the report of the USITC on Korea washers.

Private-Public Efforts

13 December 2017 - 11:00am
Cho Jin-young

Samsung Electronics and LG Electronics submitted their written opinions to the U.S. government to refute the report of the USITC on Korea washers. 

The United States International Trade Commission (USITC) advised President Donald Trump to adopt safeguards on Korean washing machines on December 4. One week later, Samsung Electronics and LG Electronics submitted their written opinions to the U.S. government to refute the report of the USITC. Both Samsung Electronics and LG Electronics are currently preparing for a public hearing scheduled for January 3, 2018 at the Office of the...

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