LG Display Shines Amid Downturn

Rising Demand Curbs Panel Price Drop


The global economic downturn has left a serious dent on some of the world's biggest technology firms, but not LG Display, South Korea's flat panel maker.

The company did go through its share of lows from the end of last year to the beginning of this one, posting two straight quarters of losses due to weak panel prices and sinking demand for electronics. But starting in the second quarter, it rebounded, moving into positive territory as it continuously beat market forecasts.

The world's No. 2 maker of liquid crystal displays (LCDs) earned 302 billion won in the April to June period, which was a sharp turnaround from a 255 billion won loss the previous quarter and the first profit it saw in three quarters.



In the third quarter, LG Display reported 559 billion won in net profit, almost doubling the figure from the previous year, which stood at 295 billion won.

The global slump significantly reduced global demand for LCD panel-equipped consumer electronics, such as televisions and computers. But strong demand for TV panels from China and Japan, coupled with a shortage of raw materials, largely helped push figures up again.

``The LCD industry was fortunate enough to climb out of the downturn quicker than others in the technology sector,'' said Lim Seung-beom, analyst at Hanwha Securities, who forecasts that demand will continue to grow firmly.

And to meet the rising need, LG Display began mass production at its eighth-generation LCD production line in Paju, about 40 kilometers north of Seoul, in March.

Hyundai Motor Spurts Ahead

Kia’s Forte Koup

New Models, Improved Reputation Boost Carmaker



What a year for Hyundai Motor.

Launching upgraded models and opening new plants in emerging markets amid the global recession were no easy achievements, but the South Korean auto giant marched right through and rolled out record results.

Hyundai built up its momentum from the start of the year to eventually hit record quarterly profits.

In the third quarter, the world's No. 4 automaker, combined with its affiliate, Kia, posted a record quarterly net profit of 979.1 billion won, up 270 percent from a year earlier.

Corporate Giants Defy Downturn

The top South Korean firms are successfully exploiting the recession to strengthen their positions in key global markets and expand to new business areas.

LG Maintains Upward Growth Trajectory

LG Electronics continues to build up its brand in key global markets, relying on sleek and sophisticated products such as smart phones, left, and light-emitting diode (LED) backlit liquid-crystal display (LCD) televisions. 

LIG Nex1 Unveils New Military Communication Radio

Tactical multi-band and multi-role radio

LIG Nex1 showcased its up-to-date tactical multi-band and multi-role radio (TMMR) that allows an integrated transmission of voice, image and video data as well as text messages and e-mail, during the Seoul International Aerospace & Defense Exhibition 2009 that ended Sunday.

Changwon Chosen as Host of 2012 IAEC Congress

The opening session of the 11th four-day biennial congress of the International Association of Educating Cities (IAEC) is under way in Guadalajara, southwestern Mexico, on April 22, local time.

Japan PM backs Seoul in seeking response to NK

President Lee Myung-bak, center, joins hands with Japanese Prime Minister Yukio Hatoyama, left, and Chinese Premier Wen Jiabao for a photo prior to the first round of their two-day trilateral summit at the International Convention Center in Seogwipo, Jeju Island, Saturday. The second round of talks, focusing on the crisis brewing on the Korean Peninsula following North Korea's torpedo attack on the South Korean Navy vessel Cheonan in March, will be held Sunday.

Why is China so supportive of NK?

Marcus Noland

Why is it so difficult for China to join the South Korea-led initiative to bring North Korea to the U.N. Security Council and to force the North to take responsibility for its provocative act?

In a nutshell, North Korea is useful for China and therefore the latter wants to keep the former intact, just the way it is, observed Marcus Noland, deputy director of the Peterson Institute for International Economics.

In an interview Friday for the Peterson Perspective series on the rising tensions on the Korean Peninsula, Noland said Beijing doesn't share Washington's interest on the Korean Peninsula in that the former likes to have a divided Korea.

"China can basically have North Korea do things such as cooperate in nuclear weapons programs with Pakistan and then maintain possible deniability," the North Korea watcher said.

Korea, Japan, China to cooperate on Cheona

President Lee Myung-bak, Japanese Prime Minister Yukio Hatoyama, left, and Chinese Premier Wen Jiabao stroll after attending a “2020 Time Capsule” event at the Sculpture Park on Jeju Island Sunday. The Time Capsule contains letters written by 2,020 10th grade students from South Korea, Japan and China in a symbol of close cooperation for the next 10 years.

Joint press release of the third Trilateral Summit Meeting

Joint Press Release of the Third Trilateral Summit Meeting among the Republic of Korea, Japan and the People’s Republic of China
[May 29-30, 2010 Jeju, Republic of Korea]

1. We, the leaders of ROK, Japan and PRC, concurred that, as the third meeting of its kind following the December 2008 Fukuoka Summit and the October 2009 Beijing Summit, the Jeju Summit has strengthened momentum for holding the Trilateral Summit Meeting on a regular basis.

2. We engaged in an in-depth and constructive exchange of views on ways to enhance trilateral cooperation, as well as on regional and global issues, such as the current situation in Northeast Asia and the G20 Summit Meeting.

3. We shared the view that this year’s Trilateral Summit Meeting is all the more meaningful since it comes as we embark on a new decade of trilateral cooperation. We further recognized that the continued development of trilateral cooperation is important not only for the prosperity of the three countries, but also for peace, stability and common prosperity of the region and the world.