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.