• China poised to be world’s largest LCD TV market

    China 12.04.2010 2 Comments

    LG Electronics

    An attendee checks out an LG Electronics 47-inch LCD HDTV with slim, full LED-backlight technology and NetCast Entertainment Access at the 2010 International Consumer Electronics Show in Las Vegas. (China Daily)

    By Chen Limin (China Daily) – BEIJING – LG Electronics Inc, the world’s second largest TV brand and third biggest mobile phone maker, expects to double its sales in China this year as the global economic recovery spurs demand.

    “LG Electronics is on track to a 100 percent growth in China,” Choong Bong Cho, chief executive officer of LG Electronics Greater China Region said in an interview with China Daily. China poised to be world’s largest LCD TV market

    Sales of LG Electronics in China reached approximately $22 billion last year, according to the company.

    He added that the company’s sales in China grew by 80 percent year-on-year over the first quarter, mainly led by rising demand for mobile phones, LCD (liquid crystal display) TVs and other home appliances bolstered by government subsidies for residents in rural areas launched in late 2008.

    China is currently the sixth largest market for LG Electronics, and the company hopes it will play a bigger role in its global business.

    “We’ve just redefined China as a market equally important with South Korea,” said Cho, adding that the company hopes to increase the manufacturing force in China.

    The company is now waiting for approval from the Chinese government for LG Display Co, the world’s second largest LCD maker that LG Electronics is the largest shareholder in, to set up a plant in China to produce eighth-generation LCD displays.

    According to Semiconductor Equipment and Materials International (SEMI), China is likely to be the largest LCD TV market in the world this year, with its LCD TV sales forecast to grow by nine million units this year. – read more at ChinaDaily.com…

    Tags: , , ,

  • Korean Brands Descend on United States in Droves

    South Korea 31.03.2010 Comments Off

    KyoChon New York

    A KyoChon chicken outlet in New York. The South Korean franchise has opened several stores in New York and California.

    By Jane Han, Korea Times Correspondent – NEW YORK ― Every time Tina Shin digs into a plate full of spicy, double-fried chicken wings from Kyochon, she craves some chilled Cass, a Korean beer. But she can’t readily order it off the menu.

    That’s because she’s not in Korea, but Kyochon’s newest U.S. outlet on 319 Fifth Avenue in the heart of midtown Manhattan.

    “I guess I can’t have everything, but it’s awesome to enjoy Kyochon just blocks away from where I live,” says Shin, a Korean-American who first tried the fried chicken during her visit to Seoul a few years ago.

    The popular Korean wing franchise, which opened its modern $2-million, two-story space, already has several restaurants in New York and California. But the latest addition is located right smack in the center of Manhattan, a positioning aimed at targeting more American customers.

    “We’re going after the mainstream market,” Kyochon CEO Kwon Won-kang said when the new shop was launched earlier last month. “We’re not going to limit our accessibility.”

    Just like the chicken joint, other Korean brands are starting to move away from the traditional “Koreatown marketing strategy” toward a wider U.S. consumer base.

    More and more established labels in a range of industries are taking a stab at introducing their businesses to everyday American shoppers.

    Most recently, Amore Pacific launched its premium skincare brand Sulwhasoo at Bergdorf Goodman, one of New York’s most luxurious retailers.

    The company is now selling 12 different cosmetics products under the herbal medicine line.

    For more casual consumers, Face Shop earlier began selling its mask sheets at Walgreen’s, a mega drugstore chain with more than 6,500 stores nationwide.

    Besides the cosmetics names, Hankook Chinaware recently opened its first showroom in Manhattan, while premium luxury brand MCM kicked off sales at New York City’s Saks Fifth Avenue.

    “Korean brands are clearly making inroads into the core U.S. market,” said Kim Joo-hwan, a marketing consultant at Liberty, a Manhattan-based agency. – read more at The Korea Times…

    Tags: , , , , , , ,

  • Korea Tourism Organisation Survey Shows 13.4% Increase in Complaints

    South Korea 26.03.2010 1 Comment

    Korea Tourist Woes

    Japanese tourists in Myeongdong look at a Japanese-language guidebook on Korea.

    Song Woong-ki, The Korea Herald, 3/26/2010 – Two days ago, Motoko Watanabe and her husband arrived in Seoul from their hometown in Shizuoka prefecture, Japan. Since hearing of close friends’ pleasant experiences in Seoul, they figured the short trip to Korea would give them the most bang for their buck.

    But what was supposed to be an affordable three days of sightseeing and shopping around the popular shopping districts Myeong-dong and Namdaemun, turned into a budget buster the middle-class newlyweds did not anticipate.

    Did they go overboard gorging on sumptuous hanwoo while impulsively buying Yonsama socks and Louis Vuitton handbags?

    Hardly.

    According to Motoko, the couple spent a third of their travel budget on taxis. “We don’t know our way around so it feels as though we’ve been wasting money and spending more than necessary on taxis,” she said. “Sometimes it feels like we’re going in circles when we’re in cabs.”

    She’s not alone in her gripes about taxis.

    A recent survey conducted by the Korea Tourism Organisation shows that the number of calls made by disgruntled tourists in 2009 saw a 13.4 per cent increase from the previous year.

    Of the complaints, difficulties while shopping and disputing costs of taxi fares topped the list with 32.5 per cent and 17.5 per cent of the total 468 complaints filed.

    “Our experience was pleasant up until we walked out of the key attractions around the city,” Watanabe said. “It was when we hopped into a taxi and began getting around town that our trip became unpleasant. We really feel as though we spent twice the amount of our travel budget, and I hate it. In their defense, the drivers just say they don’t understand what we’re saying, but I find it personally inconvenient. It’s made me disdainful of the drivers here.”

    When asked about taxi scams, Baek Ki-chun, 62, a taxi driver, was quick to defend his profession.

    “That was only during the old days when you saw drivers hanging around the airport looking for people to rip off,” he said. “Nowadays, we don’t do stuff like that to tourists, because we care very much about giving the best impression possible of our country to foreign guests when they visit.”

    Baek, a 15-year veteran, conceded later that there might be some who take advantage of tourists. “Look, in countries like Japan, you don’t see drivers committing such shameful acts because their drivers get all the proper employee benefits and a respectable salary, regardless of how many passengers they get per day,” he said.

    “Here in Korea, they tried to implement something similar when DJ (former President Kim Dae-jung) was around, but it never happened because people started saying drivers would just slack off without making their rounds, so the government decided to scrap the whole idea.

    “The only thing we have to rely on is getting as many passengers in a day as possible in order to meet our quota. So I can understand when some drivers get desperate enough to commit disgraceful acts like that.” – read more at Asia News Network…

    Tags: , , ,

  • AsiaLynx Top Stories – 2/26/2010

    AsiaLynx Top Stories 26.02.2010 Comments Off

    Chinese tourists spend around twice as much at South Korean malls, per person, as Japanese tourists in South Korea

    Chinese Luxury Shoppers Outspend Japanese 2-To-1 At South Korean Malls: Wealthy Chinese Travelers In Korea Favor Cosmetics, Children’s Supplies, Ginseng And Healthcare Products, Luxury Watches – This week, more news about free-spending mainland Chinese tourists came out of South Korea. As more Chinese tourists have headed outward, most of them staying relatively close to home, the Korean media has consistently framed news about tourist behavior as a sort of rivalry between China and Japan — a phenomenon Jing Daily discussed last fall. (’Tourist Profile: Japanese vs. Chinese‘) According to Tencent (via Yonhap), after a year in which the number (and profligacy) of Chinese tourists increased at Korean luxury malls, shoppers from mainland China now account for twice as many sales per capita as Japanese tourists.

    Hummer price soars in Shanghai: Although Tengzhong failed in buying Hummer, the Hummer dealers are overjoyed, taking the opportunity to raise the price. On February 25, the reporter learned from Hummer dealers in Shanghai that after hearing the acquisition of Hummer failed, dealers immediately raised the price of Hummer, among which Hummer H3X produced in 2009 rose by 20,000 yuan, and Hummer H2 is planning to rise by 100,000 yuan. (Via Business – People’s Daily Online.)

    Calvin Klein To Focus On Chinese Market In 2010: American fashion brand Calvin Klein has announced plans to open 60 new chain stores in Asia in 2010, mainly targeting its expansion in the Chinese market.
    According to reports from Singapore’s Channel News Asia, Calvin Klein’s current revenues from the Asian areas account for 15% of its income worldwide. (Via ChinaRetailNews.com.)

    Toyota chief’s testimony closely watched in Japan: Japan appeared largely relieved Thursday that much-anticipated testimony by Toyota’s chief executive before U.S. lawmakers was finally over, though analysts said the company’s recall woes are no closer to being solved. Toyota Motor Corp. President Akio Toyoda’s appearance before the House Oversight and Government Reform Committee, was closely watched in Japan, where the company his grandfather founded is a national icon. It was the top item on local morning news programs. At least one channel briefly broadcast his testimony live, where it took place Wednesday in Washington. (AP) (Via News On Japan.)

    Singapore Witnesses Record Number of Travelers in January: January of 2010 managed to see the highest ever recorded number of travels to Singapore for the month. Figures shared by the Singapore Tourism Board have revealed that as many as 908,000 travelers visited Singapore over the past month, which is a hike of nearly 17.5% compared to January of 2009. The top 5 markets for the month which generated visitors for Singapore were Indonesia with 173,000 visitors, China with 99,000 travelers, Australia with 90,000 travelers, 68,000 came in from Malaysia and 57,000 travelers were from India. (Via TopNews Singapore.)

    Tags: , , , , , , , , , , , , ,

  • AsiaLynx Top Stories – 2/8/2010

    AsiaLynx Top Stories 08.02.2010 Comments Off

    Hyundai-KIA

    Hyundai, Kia stocks accelerate on fallout from Toyota debacle: Shares of Hyundai Motor and its affiliate Kia Motors continue to thrive despite the recent erosion of global stock markets, fueled by strong financial performance and turmoil at rival Toyota. (Via South Korea News.)

    Expert: China’s space technology close to moon landing capability: After years of development, China’s space technology is close to moon landing capability, said Fu Yiqing, space expert and consultant to the Shanghai Institute of Space Propulsion (SISP). Fu, also a senior member of American Institute of Aeronautics and Astronautics (AIAA), said this during an interview with reporters from China News Service. New generations of Chinese taikonauts are studying moon landing technology. (Via China – People’s Daily Online.)

    China seizes leading hacker training website: Police in central China’s Hubei Province have seized the country’s biggest hacker training website and arrested three suspects, the local public security department said. The three, who ran the Black Hawk Safety Net, were suspected of offering online hacker tools, a crime that was newly listed in China’s Criminal Law last year. Police have also frozen more than 1.7 million yuan (250,000 U.S. dollars) in assets and confiscated nine web servers, five computers and a Honda Accord. (Via China – People’s Daily Online.)

    China Unicom Opens First 3G Mobile Phone Flagship Store In Beijing: Chinese telecom operator China Unicom has announced that its first flagship store under the company’s 3G brand ‘Wo’ has been opened in Beijing. Located in the southern hall of China Unicom’s headquarters building in Financial Street, the three-floor Wo flagship store covers a total area of about 800 square meters. (Via ChinaRetailNews.com.)

    JAL to keep American Airlines link: Japanese media say Japan Airlines, which filed for bankruptcy last month, has decided to keep its current tie-up with American Airlines – the Oneworld Alliance. There had been widespread reports that it might defect to SkyTeam under Delta Air Lines. The carrier feared that the switch would confuse its passengers and that it could loose its antitrust immunity from US authorities because it would dominate the trans-Pacific market. (Via RTHK On Internet – Finance News.)

    Tags: , , , , , , , , , , , , , , , , ,

  • AsiaLynx Top Stories – 1/21/2010

    AsiaLynx Top Stories 21.01.2010 Comments Off

    BMW sees fastest growth, best potentials in China: CEO: China has become BMW’s fourth largest market, where the German luxury car maker saw the fastest growth in auto sales in 2009, and great market potentials, a senior company official told Xinhua Wednesday. The company saw a 38 percent growth in sales last year in China against a 10 percent decline worldwide due to the international financial crisis, said Christoph Stark, president and CEO of the BMW Group in China. Stark said the company sold a total of 90,536 cars in China last year. (Via Business – People’s Daily Online.)

    E-Mart To Open Shanghai Mall In Time For 2010 World Expo: According to E-Mart’s Chinese headquarters, the South Korean supermarket retailer plans to open its first shopping mall on Shanghai’s Caobao road. This project, with a total area of 50,000 square meters, is reported to be in progress and is expected to be opened before the 2010 Shanghai World Expo. (Via ChinaRetailNews.com.)

    Coach CEO Banking On China Growth In 2010: Although Coach reported better-than-expected sales figures in its top two markets (North America and Japan) in its latest fiscal statement, the company has made clear that it is strongly committed to building more market share in the increasingly lucrative Chinese market. Over the last year, Coach has invested heavily both in the mainland and Hong Kong markets, announcing last spring that the company intends to open add nearly 50 retail outlets to the 37 it currently operates in mainland China, Hong Kong and Macau, appointing luxury veteran Andre Cohen as China Region President, and launching a large-scale Chinese-language online promotional campaign. (Via Jing Daily :.)

    Suzuki head touts VW parts tieup: Suzuki Motor Corp. Chairman and CEO Osamu Suzuki stressed Thursday the importance of making common auto parts with its new alliance partner Volkswagen AG in emerging Asian markets. Suzuki also suggested he would not accept any future offer by the German auto giant to increase its share in Suzuki. (Via The Japan Times: News & Business.)

    Data collection begins in Taipei for luxury home tax: (ChinaPost.com.tw) – The Taipei City Government has begun collecting data on the city’s luxury residential buildings in preparation for imposing a tax on such buildings in the future, the United Evening News reported, yesterday. (Via Taiwan Headlines – Business.)

    Tags: , , , , , , , , , , ,

  • AsiaLynx Top Stories – 1/7/2010

    AsiaLynx Top Stories 07.01.2010 Comments Off

    South Korea’s Incheon airport strives to keep top position: INCHEON: Incheon International Airport in South Korea is rated the world’s best, according to a survey by British-based Skytrax. The 9-year-old facility has been voted number one by nearly 9 million passengers at 190 airports. (Via Channel NewsAsia Business News.)

    China’s commerce minister stresses yuan stability, concerned about U.S. dollar value: China’s Commerce Minister Chen Deming said here Thursday the stability of the Chinese currency contributes to the recovery of the world economy while voicing concerns over the strength of the U.S. dollar. ‘The Chinese government has stated on many occasions it will keep the exchange rate of the yuan, or Renminbi, basically stable,’ said Chen during a visit to the Turkish capital Ankara, adding ‘We feel that is an important support and contribution for the world economy… (Via Business – People’s Daily Online.)

    China’s Steel Industry Is a Big Problem for Both Climate and Trade: The United States is set to slap penalty duties on imported Chinese steel pipes, heightening trade tensions between the two powers. This is the largest countervailing duty case filed against China, based on the value of trade. The US International Trade Commission (ITC) said it had made a ‘final’ decision that the ‘subsidized’ pipes adversely impacted the domestic steel industry, paving the way for the Commerce Department to impose countervailing duties of up to nearly 16 percent on the pipe. The ITC will forward in writing a formal determination to the Commerce Department in the first week after the New Year’s holiday. The ITC ruling comes amid rising trade tensions between the United States and China. In September, the United States announced it would place duties on Chinese-made tires to protect the local US industry, sparking the first major trade dispute under Barack Obama’s presidency. (Via ChinaStakes.)

    Kempinski To Double Number Of Hotels In China By 2013: Polish luxury hoteliers the Kempinski Hotel Group, which currently manages 11 hotels in China, in cities like Beijing, Chengdu, and Xi’an, has announced that the company plans to more than double the number of hotels under its management within the next three years. Of these 12 new hotels, the first should be Kempinski Xiamen, which recently held its topping-out ceremony and is expected to open early next year. According to the China Economic Review, Kempinski’s expansion plan is part of its broader strategy to account for 20% of the hotel group’s total turnover and profits by 2013, over the current 15%. In addition to its expansion plan, 4Hoteliers says that the Kempinski Group is planning to open a ‘China-Only’ five-star hotel brand, Nuo. (Via Jing Daily :.)

    Japan to allow more flights from China, Russia at Hokkaido airport: Japan decided Friday to ease security restrictions in March on the number of flights to and from China, Hong Kong and Russia at a Hokkaido airport to boost the number of tourists to the northernmost island prefecture. The Land, Infrastructure, Transport and Tourism Ministry and the Defense Ministry agreed to extend hours to accommodate flights to and from the countries at Hokkaido’s New Chitose Airport, which is adjacent to the Air Self-Defense Force’s Chitose Base, according to government officials. (Via Kyodo News (Business).)

    Tags: , , , , , , , , , , , ,

  • ‘It’s a war’ – South Korean iPhone sales are ‘explosive’

    South Korea 08.12.2009 Comments Off

    (The Korea Herald) Phone salesperson Lee Geon-seok said he has been so busy with customers hoping to buy the newly released iPhone that he has not had time to eat.

    He said iPhone sales reached 100 units per day at his two KT stores, accounting for around 80 percent of total handset sales there. “It’s a war. iPhone sales are explosive,” Lee told The Korea Herald.

    He said his store is running short of iPhones because of strong demand. Korean customers snapped up 70,000 iPhones as of Sunday – just eight days after its release in Korea, according to a KT spokesperson.

    This is rare in the Korean handset market, which has been dominated by Samsung and LG. Global handset makers such as Nokia and Sony Ericsson have posted poor sales here.

    It remains to be seen whether the initial strong sales of Apple’s iPhone, driven by pent-up demand, will continue. But for now, the small gadget is rattling the country’s mobile market.

    The iPhone launch appears to have hit LG harder than Samsung. Sales of LG’s flagship phone Chocolate slumped this month, and the company has few competitive smartphone models.

    “Sales of the Chocolate phone are meager,” a KT spokesperson said yesterday, without giving the figure.

    Top mobile carrier SK Telecom also said yesterday daily sales of the Chocolate slumped to 250 units this month, from 400 units last month.

    This contrasts with Samsung’s new smartphone Omina 2, whose daily sales reached a whopping 5,000 units per day this month, SK said. SK Telecom, which does not offer the iPhone, sharply increased its subsidies for Omnia 2, to stave off the challenge from the iPhone.

    The iPhone, which is offered exclusively via second-ranked KT, also posted 5,000 units of daily sales this month, according to a local report yesterday. – read more at The Korea Herald…

    Tags: , , , , ,

  • South Korea’s Electronics Patent Wars Heating Up

    South Korea 05.12.2009 Comments Off

    A model tests the three-dimensional (3D) images beamed on Samsung Electronics’ latest 55-inch liquid-crystal display (LCD) screen developed for 3D-enabled televisions. (Korea Times)

    A model tests the three-dimensional (3D) images beamed on Samsung Electronics’ latest 55-inch liquid-crystal display (LCD) screen developed for 3D-enabled televisions. (Korea Times)

    By Kim Yoo-chul, Staff Reporter, The Korea Times – South Korea’s leading electronics players are beefing up their defense against patent abuse by introducing new measures to protect their technology and reputations.

    Samsung Electronics, the leader in the chip and flat-screen industries, has increased the number of its staff specializing in patent issues by 300 to 550 since 2005, according to company representatives.

    It says patent-related issues have emerged as one of the company’s top concerns in the face of intensified competition among rivals in the consumer electronics industry.

    A growing number of patent trolls is another problem.

    These individuals or companies enforce patents as an investment to collect royalties, rather than manufacture products or delivering services based on them.

    LG Electronics is planning to increase the number of its patent staff by a “certain percentage” in 2010, while LG Display, the world’s No. 2 maker of LCD panels, is also reviewing the possibility of expanding its legal affairs capability, according to industry sources.

    “It’s necessary for LG to constantly expand the number of patent staff to reinforce the negotiation power in international patent lawsuits,” an LG representative said.

    Samsung Electronics has been involved in a years-long patent war with Rambus in chips. At the same time, the company has been tied up in a patent litigation with Japan’s Sharp in flat-screens and Finland’s Nokia in mobile phones.

    “Samsung and Sharp have many patents related to LCD technology so these kinds of lawsuits will continue to occur as long as they make TVs,” said Kim Yoo-jin, an analyst at Taurus Investment & Securities. – read more at The Korea Times…

    Tags: , , , , , ,

  • Apple iPhone Has Korea’s Samsung, LG Sweating

    South Korea 02.12.2009 Comments Off

    Apples iPhone is a big hit in its first week of release in South Korea

    Apple's iPhone is a big hit in its first week of release in South Korea

    By Kim Tong-hyung, Staff Reporter (The Korea Times) – Samsung Electronics and Apple are about to duke it out in Korea’s emerging “smart” phone market, and it looks like local Internet company, Daum (www.daum.net), will have a role in settling the bragging rights.

    Daum, which operates the eponymous Web portal that trails only Naver (www.naver.com) in online traffic, is having all of its 1,000 employees choose between the newly released Apple iPhone and Samsung’s flagship smart phone, T-Omnia II, in the company’s free phone program.

    Daum is desperate to get ahead in mobile Internet services, and by providing data-enabled handsets to employees for free and paying for their data expenses for the first two years, the company is looking to source innovation in-house.

    It remains to be seen which between the iPhone and T-Omnia II end up as the phone of choice for Daum employees, and Samsung seems eager to advise them on their happy headache.

    According to Daum officials, Samsung sent sales personnel to Daum’s Seoul headquarters to convince the company’s employees that T-Omnia II represents the better device.

    The iPhone is released by KT, the country’s second-biggest mobile operator, while T-Omnia II is pitched by SK Telecom, the top wireless carrier that has a 50-percent-plus market share.

    “We thought we were getting iPhones at first, but with T-Omnia II later becoming an option, there are more things to think about,” said a Daum employee.

    “In the past few years, we have been putting much emphasis on delivering mobile Internet services and Apple’s mobile Internet devices, such as the iPhone and iPod Touch, were greatly considered when we developed new applications. So there has been a buzz in anticipation of an iPhone release among us for years, but you would have to say that T-Omnia II is an impressive device in its own right.”

    Although it would be over-the-top to call the event the “Judgment of Daum,” it is easy to understand why the normally unflappable Samsung is touchy about the results.

    Less than a week after its release, iPhones are flying off Korean shelves and showing promise to shake the hierarchy of the local handset market where Samsung and its bitter industry rival, LG Electronics, have been enjoying a near-duopoly. – read more at The Korea Times…

    Tags: , , , , ,

« Previous Entries

Search

Sponsors

Asian Markets


Asia Weather

Recent Posts

Tags

Asia News

China

Economics

Hong Kong

Japan

Singapore

South Korea

Taiwan

Thailand

United Kingdom

United States

Site Statistics

Visits today: 34
Total visits: 45644
Visitors Online: 0
Your O/S:
Your Browser:
Your IP Address: 38.107.179.212
Since: October 14, 2009