LA LETTRE DU KOTRA Mai 2002
Centre Coréen du Commerce Extérieur et des Investissements
KOTRA PARIS - 36, avenue Hoche - 75008 Paris Téléphone : +33 (0) 142 25 09 57 - Télécopie : +33 (0) 142 25 09 50 - email : fckotra@hotmail.com M. Seong-Kuk Hong - Directeur Adjoint M. Frédéric Claveau - Responsable Investissements
S O M M A I R E
¤ RELATIONS INTERNATIONALES ET BILATÉRALES
Germany No.2 Investor in Korea Among EU Countries 3
POLITIQUE ECONOMIQUE, MACRO-ECONOMIE ET RESTRUCTURATIONS 4
La Corée se démarque. 4
La Corée repart de plus belle 4
A la veille de la Coupe du monde de football, la Corée du Sud a retrouvé confiance
en son économie 4
La Corée du Sud s'enflamme pour sa Coupe du monde 4
Faux et usage de faux en Corée du Sud - La contrefaçon y atteint des sommets - Le gouvernement ferme les yeux. 5
R&D investment seen to rise 11.3% 6
INVESTISSEMENTS 7
International Direct Investments Drop by 47 Pct in 2001 7
South Korea lets economy roar - Foreign investors find the contrast with Japan attractive 8
SECTEURS ECONOMIQUES 9
Banque-financement 9
Deutsche Bank launches studies on Korea's Hynix 9
LG Card Has Timely Chance to Attract Foreigners 10
For the first time, a top U.S. private-equity firm sells its stake in a Korean company-
and at a handsome profit. 14
Technologies de l'information 15
High-tech Erreur! Signet non défini.Corée : La vitrine de la Coupe 15
Champions du haut débit, les Coréens se rencontrent en jouant en ligne 16
Télécommunications et satellites 17
Satellite Service Propel Telecommunication Revolution 17
Cosmétique 19
US, EU Challenge Seoul's Cosmetics Law 19
Transports : automobiles 20
Automobile : forte hausse des ventes en Corée du Sud 20
DaimlerChrysler, Hyundai may co-develop car platforms 21
MAN sets sights high in Korea 21
BTP 22
Un arc en Ductal de 120 mètres de portée 22
Une première en Corée du Sud pour le ductal®, béton du futur 23
Corée : un concours d'idées pour la tour de Busan 23
ENTREPRISES COREENNES 24
Hynix et Toshiba chez Micron 24
Hynix démantèlement de plus en plus probable 24
Micron finalise le rachat des activités mémoires de Hynix pour 4 milliards de dollars 24
Téléphone mobile : Samsung est devenu plus rentable que Nokia 24
Daimler-Chrysler renforce son partenariat industriel avec Hyundai 24
LG rebondit sur la célébrité des Bleus 25
ENTREPRISES FRANÇAISES 25
Lafarge se renforce en Corée du Sud 25
Vallourec signe un contrat avec la société Doosan en Corée du Sud 25
PSA s'intéresserait fortement au sud-coréen Ssangyong Motor 25
Peugeot says execs visited Ssangyong, no bid plans 25
Carrefour Beats Samsung Tesco in Profit 26
Wavecom renforce sa présence en Corée avec l'ouverture d'une filiale 27
GERMANY N°2 INVESTOR IN KOREA AMONG EU COUNTRIES
By Gunter Schuster
The following is a summary of the Korea-German trade and investment relations the former president of the Korean-German Chamber of Commerce and Industry (KGCCI) made.-E.D.
Last year, more than 350 KGCCI members celebrated the 20th anniversary of the KGCCI and took the occasion as proof of successful bilateral economic relations for the past 20 years and offer KCCI members outlook for the Korean economy this year.
With bilateral trade of nearly $10 billion in 2000, Germany ranked as Korea's sixth largest trading partner after the U.S., Japan, China (Hong Kong included), Taiwan and Saudi Arabia. Bilateral trade volume rose from $8.01 billion in 1999 to $9.78 billion in 2000.
With the downturn of the Korean economy last year, the trade volume decreased in 2001 by around 10 percent from a year ago.
But Germany has still remained Korea' largest European trading partner last year. The trade volume between Germany and Korea totaled $8.79 billion in 2001 and accounted for 3 percent of Korea's total global trade. Germany had slightly increased its share of the total trade in Korea last year, from 2.94 percent in 2000. Germany ranked as Korea's fifth largest trading partner, compared to its sixth position in 2000, right after the U.S., Japan, China and Taiwan.
Last year, Germany exported $4.47 billion in goods to Korea. This represents a decrease by 3.3 percent from the $4.62 billion in 2000. But the fall was lower than that of the U.S. (-23.5 percent), Japan (-16.3 percent) and Taiwan (-8.5 percent).
Out of Korea's major trading partners, only China expanded its exports by 3.9 percent. So German exports did comparatively well, even more so when considering the fact that total Korean exports had shrunk by 12.7 percent.
Out of all export items to Korea, machinery and mechanical appliances were first with $1.466 billion (0.2 percent), followed by electrical machinery and equipment worth $652 million (-13.3 percent) and optical, photographic, measuring, checking, precision or medical instruments worth $396 million (1.6 percent). There has been no change in the structure of these main German export categories.
Among Korean products exported to Germany last year, the No. 1 position was held by electrical machinery and equipment with $1.137 billion, followed by ships, boats and floating structures worth $1.004 billion and machinery and mechanical appliances worth $914 million.
The total export of Korean goods to Germany in 2001 amounted for $4.32 billion, down from $5.15 billion in 2000.
For the first time since 1997 when Germany recorded a trade surplus of $1.06 billion with Korea in 2001, there was again a positive trade balance for Germany in its trade with Korea of $150 million. After 1997 there has always been a trade surplus for Korea: $660 million in 1998, $350 million in 1999 and $530 million in 2000.
Direct Investment
Due to the worldwide economic recession the amount of foreign direct investments in Korea in 2001 showed a decline from the $15.7 billion in 2000. The figure was $11.87 billion last year, representing a decline of almost 25 percent but this was better than the worldwide trend of a decline in foreign direct investment (FDI) of 41 percent.
German investments reached $459 million last year, representing a sharp decline from the $1.6 billion in 2000. Whereas German investments accounted for more than 10 percent of all foreign direct investments in Korea in 2000, the respective figure for 2001 was 3.87 percent. The number of cases came down from 112 in 2000 to 61 last year.
On the other hand, there was an increase in Korean investments in Germany in 2001 compared with the small amount of $31 million in 2000. There have been 18 cases (12 cases in 2000) of Korean investment in Germany, for a total of $104.3 million in 2001.
This increase in Korean investment to Germany is also attributable to the fact that Korean companies have recognized the importance of Germany and establish their headquarters in Germany to start their operations in Europe. Two examples are LG's operations in Dusseldorf and the ground breaking for Hyundai Motor's European headquarters in R?selsheim in March in 2001.
Korea and Germany are good partners in trade and investment. With the expected recovery of the Korean economy this year, there are good conditions for further improvements in our bilateral economic relations. In 2002 Korean imports are expected to increase, especially in the machinery industry, automobile industry, ship building and in the information technology sector.
Source : Korea Times 20/05/2002
LA COREE SE DEMARQUE
Si cet article vous intéresse, n'hésitez pas à nous en demander une copie
Source : Les Echos - 31/05/02
LA COREE REPART DE PLUS BELLE
Si cet article vous intéresse, n'hésitez pas à nous en demander une copie
Source : L'Usine Nouvelle - 16/05/02
A LA VEILLE DE LA COUPE DU MONDE DE FOOTBALL, LA COREE DU SUD A RETROUVE CONFIANCE EN SON ECONOMIE
Si cet article vous intéresse, n'hésitez pas à nous en demander une copie
Source : Les Echos - 23/05/02
LA COREE DU SUD S'ENFLAMME POUR SA COUPE DU MONDE
Si cet article vous intéresse, n'hésitez pas à nous en demander une copie
Source : La Tribune - 23/05/02
FAUX ET USAGE DE FAUX EN COREE DU SUD - LA CONTREFAÇON Y ATTEINT DES SOMMETS. LE GOUVERNEMENT FERME LES YEUX.
Par Richard WERLY
Sur le panneau, les prix cassés font face aux initiales. LV pour Louis Vuitton, P pour Prada, G pour Gucci... Avec ses portefeuilles ou porte-cartes en cuir, Shim Ha-suk fait chaque jour un carton auprès de la foule en balade dans le quartier commerçant de Myongdong. Tous les articles du vendeur sont, on l'aura compris, des contrefaçons, Mais pas n'importe lesquelles : "L'originalité des copies sud-coréennes est, entre autres, leur qualité. On est loin, très loin, de la copie vite expédiée fabriquée en Thaïlande, au Viêt-nam ou en Chine", reconnaît, sans vouloir être cité, un fonctionnaire européen basé à Séoul. Car en Corée du Sud, onzième puissance économique mondiale et pays membre de l'OCDE le club des pays riches , la vente de vrais-faux produits de luxe est un sujet de plus en plus explosif. Elle enrage les grandes marques du luxe qui rêvent de transformer ce pays de 47 millions d'habitants friands de logos et d'articles de qualité en une nouvelle poule aux oeufs d'or, version Japon.
Elle déstabilise, surtout, le marché du luxe asiatique et nippon : "Nous devons lutter contre deux fléaux : l'exportation de plus en plus massive de faux coréens et les achats croissants de contrefaçons par les touristes japonais en visite à Séoul", s'indigne Hee Chang-sun, gérante de la boutique Vuitton du grand magasin Hyundai à Apgujeong, l'un des quartiers chic de Séoul. A Myongdong, autre quartier de Séoul, les Japonaises affluent par charters entiers pour remplir leurs sacs d'articles contrefaits et les revendre dans l'archipel. La police japonaise y a même démantelé un réseau de boutiques spécialisées dans la vente d'articles de luxe "d'occasion". La moitié de leurs produits étaient en réalité des contrefaçons made in Korea.
Tentation. Les différences entre vrais et faux sont néanmoins souvent criardes. Dépêchés régulièrement à Séoul, les experts ès contrefaçons du groupe LVMH basés à Hong-Kong se font un plaisir, à chacun de leurs exposés devant le Kipo, l'Office coréen de la propriété industrielle, de démontrer la fragilité des coutures, la piètre qualité des cuirs, bref de disséquer le mensonge commercial. N'empêche : à 30 000 wons (26 euros) le faux porte-cartes contre 390 000 wons (343 euros) pour le vrai, la tentation est grande : "Je sais que les copies n'ont pas la solidité des originaux, mais bon, je ne peux pas acheter tous les mois un nouveau portefeuille Vuitton. Donc, je mêle un peu le faux au vrai...", rigole Woo-mi, une mère de famille.
D'autant que les vendeurs les mieux approvisionnés proposent différents genres de faux : "J'ai du faux grossier pas cher avec logo tronqué (style LL au lieu de LV pour Vuitton) mais aussi du faux soigné, qui reproduit tous les détails, bonimente le vendeur Shim Ha-suk. Je n'expose pas les articles les plus soignés de peur qu'ils s'abîment. Je les réserve aux connaisseurs."
Le coup porté aux grands noms du secteur est sévère. Et même si certains reconnaissent que le succès des contrefaçons est un hommage rendu à l'industrie du luxe, car les marques qui se vendent le mieux "en faux" sont aussi celles qui ont la meilleure réputation "en vrai", les industriels concernés dénoncent le phénomène et la quasi-indifférence du gouvernement coréen : "Quelques progrès ont été faits dans la lutte anticontrefaçon, mais les personnes qui se battent commencent à s'épuiser", reconnaissait en début d'année le PDG local de Cartier, Patrick Szraga, dans un entretien au mensuel de la chambre de commerce française.
Ambition. Le plus grave, s'emportent ces industriels, est l'échelle du phénomène et la tolérance inacceptable de la part de la Corée du Sud. Depuis la crise financière asiatique de 1997, le pays a ouvert peu ou prou son marché et a beaucoup misé sur le commerce international pour renflouer ses caisses. La Corée du Sud, qui accueille vendredi le Mondial de foot, ambitionne en outre de devenir la nouvelle plaque tournante de l'Asie du Nord-Est. Sa vitalité économique, dopée par une frénésie de la consommation domestique, contraste de manière insolente avec le marasme japonais. Autant de bons points qui devraient l'inciter à réagir face à la prolifération des faux.
Or, malgré la promulgation de lois et l'interpellation, en 2001, de 42 000 revendeurs et fabricants (+ 200 % par rapport à 1995), tel n'est pas le cas. La faible sévérité des peines et les gains appréciables poussent au contraire de plus en plus de jeunes gens à monter leurs étals dans la rue.
S'y ajoutent l'exportation et le trafic international : "Un ami coréen est venu me voir il y a un mois pour me proposer d'importer des containers de faux Gucci et Prada", explique Ko Taniguchi, petit industriel japonais de l'imprimerie basé à Yokohama.
Filière toute simple : le fils de l'ami coréen en question est en relation avec des ateliers chinois et des douaniers "indulgents" de Busan, le grand port sud-coréen.
Estimation. "Le tentacule des contrefaçons coréennes touche même l'Europe, notamment à partir de Paris", complète une source française de Séoul. Impossible toutefois de chiffrer le phénomène. "La situation s'améliore. Le poids économique de la contrefaçon a beaucoup baissé depuis trois ans", se rassure, sans donner la moindre estimation, un porte-parole du Kipo. Voire. Car, en Corée, la copie n'est pas que le cauchemar des maroquiniers et des grands couturiers. Les logiciels informatiques sont également piratés, tout comme les DVD et les CD. De sombres querelles sur des brevets industriels continuent en outre d'opposer industriels coréens et japonais, vieille réminiscence de l'acrimonie nipponne contre le miracle économique coréen, imitation de l'industrialisation forcenée de l'archipel.
Source : Libération 27/05/2002
R&D INVESTMENT SEEN TO RISE 11.3%
Research and development (R&D) investment by local companies will rise by 11 percent this year, but the figure, as a percentage of sales revenue, is at a similar level to the past few years, the Ministry of Commerce, Industry and Energy said yesterday.
According to the ministry, which conducted a survey of 109 major firms in 12 sectors in February and March, planned R&D investment by these companies totals 7.65 trillion won, 11.3 percent more than last year's 6.87 trillion won.
This is a significant increase compared to last year's growth figure of 8.3 percent.
But the share of R&D investment in total sales is 3.5 percent, close to the 3.25 percent in 2000 and 3.49 percent last year, the ministry noted.
The sectors planning R&D investment expansion are general machinery (59.8 percent), electronic parts (43.7 percent), shipbuilding (37.2 percent), petrochemicals (14.7 percent), household appliances (13.8 percent), telecommunication equipment (10 percent), precision chemicals (6.8 percent), heavy electric equipment (6.6 percent), automobile (3 percent) and steel metal (1.3 percent).
"Particularly noteworthy is that the 'big three industries' - household appliances, automobiles and telecommunication equipment - make up 65.6 percent of the total investment amount," the ministry said in a press report.
The semiconductor (-6.4 percent) and nonferrous metal (-9.5 percent) sectors, however, are planning investment cuts.
In terms of the percentage of R&D investment in total income, the telecommunication equipment and household appliance sectors recorded the highest rates at 7.7 percent and 7.69 percent, respectively.
Most of the other sectors did not reach the level of those in developed nations, the ministry said, with the semiconductor industry recording 3.89 percent, precision chemicals 3.71 percent, automobile 3.31 percent, electrical parts 2.77 percent, general machinery 2.5 percent, shipbuilding 2.48 percent, precision equipment 1.84 percent and petrochemicals 1.1 percent.
"R&D investments in the steel and nonferrous metal sectors didn't even reach the 1-percent level, sharply contrasting with industries like telecommunications," the ministry said.
The percentage of employees involved in R&D was highest in the telecommunication equipment sector with 39.99 percent, while in five others (semiconductor, household appliance, electrical parts, petrochemical and precision chemical) the share ranged from 10-30 percent and in six (general machinery, automobiles, shipbuilding, steel, nonferrous metals and heavy electric equipment) it reached less than 10 percent.
Meanwhile, companies planning the heaviest R&D investment are Samsung Electronics, Hyundai Motor, Daewoo Heavy Industries & Machinery, Daewoo Shipbuilding & Marine Engineering, POSCO, LG Chemical, Hyundai Heavy Industries and LGCI. (mihui@koreaherald.co.kr) By Kim Mi-hui Staff reporter
Source : Korea Herald 2002.05.29
INTERNATIONAL DIRECT INVESTMENTS DROP BY 47 PCT IN 2001
By Kim Jae-kyoung
International direct investments in 2001 shifted downward for the first time since 1991, marking the largest decrease rate in 30 years.
In a report on the trend of international capital flows during 2001, the Bank of Korea said yesterday that international direct investments stood at $623 billion last year, down 47.4 percent from the previous year's $1.18 trillion.
The central bank attributed the drop in direct investments to a sharp contraction in cross-border mergers and acquisitions (M&As), which accounts for 90 percent of the total international direct investments.
The central bank explained that cross-border M&As decreased last year, due mainly to the slowdown of the world economy, coupled with worsening liquidity in multinational corporations.
Affected by stagnant international direct investments, South Korea recorded a net outflow of $2.8 billion in its capital balance last year, as the foreign direct investments and stock investments into the local markets remained sluggish despite the economic recovery.
The nation posted a net inflow of $7.5 billion in 1999 and $20 billion in 2000 in its capital balance, thanks to a surge in foreign direct investments and stock investments.
The central bank said that a key reason behind slackened foreign investment in the local markets last year is the fact that corporate and financial restructuring are in their final stages and the domestic market lost its attractiveness due to a surge in stock prices since last October.
kjk@koreatimes.co.kr
Source : Korea Times 20/05/2002
SOUTH KOREA LETS ECONOMY ROAR - FOREIGN INVESTORS FIND THE CONTRAST WITH JAPAN ATTRACTIVE
South Korea, long in Japan's shadow, is blazing a new trail for Asian economic development..By encouraging consumers to spend freely on credit, throwing its doors open to foreign investment, and introducing an American-style freedom to fail, South Korea has put itself back on track as one of Asia's fastest-growing and most diversified economies. .And while Japan's stagnation draws attention, South Korea's boom draws investors.
With Seoul's main stock market index nearly doubling since September, foreigners now account for 38 percent of ownership and two-thirds of daily trades. Since 1998, South Korea has attracted $52 billion in new investment from overseas, more than double what it received in the previous four decades.
Several high-profile foreign takeover failures have given South Korea the image of a country that takes one step backward for every two steps forward. General Motors Corp. recently announced a $400 million deal to take over three auto plants from Daewoo Motor Co., and Lehman Brothers signed a tentative deal to invest $1 billion in Woori Finance Holding. At the same time, Micron Technology Inc. withdrew a $3 billion bid to take over much of Hynix Semiconductor Inc. after the Hynix board vetoed the deal.
But international rating agencies praise South Korea for bouncing back from a financial crisis five years ago, paying back a $20 billion loan from the International Monetary Fund in August and stacking up $108 billion in foreign currency reserves.
Next year, in fact, South Korea could enjoy higher credit ratings than its historic economic tutor, Japan. ."During the last four years, we have been dismantling the Japanese system," Han Duk Soo, economic adviser to President Kim Dae Jung, said in an interview. "Koreans are not like the Japanese. We are now more like the Americans."
For most of the first half of the 20th century, Korea was a Japanese colony. For most of the second half, it was in economic awe of Japan. Now, as Tokyo struggles to make Corporate Japan viable, Seoul is dismantling Corporate Korea. .Only five years ago, South Korea's foreign exchange reserves were disappearing like quicksand, and middle-class women were donating their gold jewelry in a national campaign to save the country from bankruptcy. The Japanese, meanwhile, are settling for a slow decline.
"Unlike Korea, the problem here has not really scared a lot of people," said Gerald Curtis, an American political scientist with 37 years' experience in Japan. "The Japanese public is nervous, but they are not really scared, not really mad." .Hank Morris, an investment adviser with a similar number of years in Seoul, said South Koreans did not have the luxury of delaying reform. ."They had to bite the bullet," he said, "take the medicine."
With a $10,000 per capita annual income - a third of Japan's - South Koreans see themselves as still striving for the brass ring of development. ."Japan is handcuffed by their perpetual search for consensus - the Koreans could not care less for consensus," Donald Gregg, chairman of the Korea Society, said from New York. His years of experience in both countries lead him to conclude: "In Korea, if something isn't working, they move it, they break it, whatever. The Japanese go along in the hope that tweaking it will make it change." .In Japan, bankrupt companies and banks often receive generous bailouts, on the argument that they are "too big to fail."
In South Korea, since 1997, about half of the 30 chaebol, or family-controlled conglomerates, have been allowed to fail, to be restructured or to change ownership. ."Korea has been more active than Japan in allowing companies to go bankrupt," said Jwa Sung Hee, president of the Korea Economic Research Institute.
At the end of May, the eyes of the world will swivel to South Korea and Japan, co-hosts of the World Cup soccer championship. Even without this, South Korea is increasingly recognized as a player on the world economic stage.
"Korea is approaching the home stretch: One more doubling of economic size and Korea will truly be a fully developed country," James Rooney, a vice chairman of Deloitte Consulting Korea, wrote recently in The Korea Times. "Somewhere over the next 10 to 15 years it will have a population of 53 million people," he wrote, along with a gross domestic product per capita of "around $20,000."
DEUTSCHE BANK LAUNCHES STUDIES ON KOREA'S HYNIX
SEOUL, May 21 (Reuters) - Deutsche Bank, named last week together with Morgan Stanley Dean Witter to speed the breakup of South Korea's Hynix Semiconductor, has begun due diligence studies on the ailing chipmaker, Hynix's main creditor said on Tuesday.
After the German bank completes its studies in July, Morgan Stanley will join to draw up implementation plans for Hynix , an official at Korea Exchange Bank told Reuters
Creditors, owed more than $5 billion, named Deutsche Bank and Morgan Stanley to advise them on selling Hynix operations to recover their funds. Lenders hold convertible bonds worth the bulk of the company and have stepped up their demands for repayment after Hynix refused to sell its entire memory business to U.S rival Micron Technology Inc in April.
Hynix lost $3.9 billion last year and a decline in memory chip prices since March has dashed hopes that enough operating profit could be generated to repay lenders. Hynix shares fell five won to 820, while the main index dropped 0.78 percent to 859.03 points by 0306 GMT.
Copyright 2002, Reuters News Service
Source : Reuters 20/05/2002
LG CARD HAS TIMELY CHANCE TO ATTRACT FOREIGNERS
By Kim Yon-se
LG Card Co. is holding an investor relations tour in Asia's major emerging markets, Hong Kong and Singapore, which started Monday for a five-day run.
The card company is confident that it will attract key investors, as it posted the largest first-quarter earnings among eight domestic firms that deal with credit card-based loans.
LG Card was listed on the Korea Stock Exchange (KSE) last month and its stock price reflects its healthy operating results. It is now pushing ahead with solidifying and expanding the company's market leadership.
Company president Lee Heon-chul is also having one-on-one meetings with investors, including Morgan Stanley Dean Witter & Co., to offer accurate information on investing in LG Card. ``I believe the seminars had great appeal to participants and this will certainly have a positive impact on the stock price of our company,'' he said in an interview with The Korea Times.
LG Card posted 208.5 billion won in net profits in the first quarter of the year, surging by 19.7 percent from 174.2 billion won the same period last year. Its assets surpassed 30 trillion won, increasing sharply by 90 percent from 17.1 trillion won a year earlier.
Lee said the company is expected to see net profits jump by 130 billion won to 780 billion won or more this year. It made a net profit of 653.3 billion won at the end of last year.
The firm has designated Credit Suisse First Boston (CSFB) as the lead manager for the investor relations sessions abroad, so the global investment bank can arrange a series of sessions to explain LG Card's performance and future strategies to over 30 foreign institutional investors.
Lee said their performance could be attributed mainly to three factors: effective marketing, sophisticated risk management and a vibrant corporate culture.
``In particular, our strong and talented workforce embraces a powerful spirit that drives us to build an organization able to prevail over any and all competition,'' Lee added.
More Consumers Choose Competitive LG Card
Credit card use is increasing rapidly in the nation today and more customers prefer to use their LG Card for payment more than any other card.
LG Card aims to remain the industry leader by ensuring that its credit card products are always chosen first.
The number of LG cardholders rose 38.1 percent. They added 4.59 million new members last year, reaching 16.63 million by the year's end. As of the end of March 2002, the firms' customers totaled 17.4 million.
The sharp increase in cardholders is attributable to successful marketing activities, focused particularly on personalized products through co- branded and affinity marketing.
About 16 million people, or one out of every four Koreans, have an LG Card today. The company has employed a marketing strategy of ``selectively focusing'' on target customers.
Part of the new strategy is the LG Lady Card, the first credit card targeting young working women in the country. Over 5 million women have been persuaded to acquire the card.
Lee said affiliated services in alliance with other companies have also been developed to offer cardholders a comprehensive package of the best services available.
The LG Lady Card was launched in January 1999 after careful market analysis and planning. Continuous upgrading and augmentation of services have made it one of the most popular cards in Korea. LG Card officials pointed out that products' distinctiveness is the key to withstanding competition. The company analyzes market trends and then develops products that best suit changing lifestyles.
Unlike products and services of other credit card issuers which focus on meeting common needs for the general population, LG Card has differentiated its products and services, while categorizing and refining by regions and population segments.
For example, in addition to the LG Lady Card, the LG 2030 Card is marketed to males in their twenties and thirties, while the Ace Card targets customers in their forties and fifties.
On the basis of their flagship brands, the LG lady Card, the LG 2030 Card and the Ace Card, their strategy is to issue cards in alliance with other successful businesses and organizations through co-branching and affinity marketing.
Co-branded cards with mileage point programs are being issued in cooperation with hundreds of successful names, including Korean Air, Asiana Airlines, Korea Telecom and LG-Caltex.
Such ties with successful businesses have enhanced marketability of the card product and have allowed both the credit card firm and its partners access to valuable customers.
In the area of affinity marketing, LG Card endorses a variety of people groups to issue affiliated cards with organizations such as the Korea Teachers Credit Union and the Lion's Club.
LG Card Catches Up With the Internet
In addition, new services and technology such as the IC Card are constantly being added to maintain product competitiveness.
Mentioning the potential of the IC Card, Lee said, ``As the Internet continues to grow as a channel for commerce for consumers and businesses, the security of payment information has never been more critical.''
Unfortunately, online payments remain an underdeveloped area of the Internet. Payment and data transfer security are all problems, he pointed out.
He said, ``Now Korea's credit card industry must know that credit card fraud is rampant on the Internet.''
Meanwhile, the myLG Point customer loyalty program has been providing customers with unique services. For example, users can accumulate bonus points based on card transaction volume, and then spend those points like cash.
``Points are awarded for both online and office purchases to provide cardholders with maximum benefit,'' Lee said.
The card company also finances families wishing to purchase automobiles, appliances and computers.
LG Card pays the merchant, and the consumer remits monthly installments over a predetermined period of time. Installment financing arrangements are in place at 10,000 business locations around Korea as well as at large retailers with nationwide networks.
Lee said they are expanding relations with leading retail channels and strengthening networks with used car dealers. ``Joint promotions are being carried out with large corporate partners for consumer electronics, computers and other items.''
The company does not hesitate to come out with new and innovative loan products for cardholders and non-cardholders.
The lineup includes loans specifically designed for taxpayers, office workers, students, housewives, newlyweds and mobile phone users.
Moreover, the LG Speed Loan is a unique financial service that allows users to quickly and conveniently arrange their loans and to check their repayment schedules via phone and the internet.
LG Card recognized early on the market imperative for a strong Internet presence and built the nation's first online personal finance system.
This was followed by the opening of various customized Web sites, including myLG Point (www.mylgpoint.com), LG myShop (www.lgmyshop.com), LG myCar (www.lgmycar.com) and Joy Hill (www.joyhill.co.kr).
The number of online card members has recently broken the 4 million mark.
Annual e-business transaction volume has reached 900 billion won, and there are now over 150 online co-branded and affinity cards.
Meanwhile, some 500 businesses are participating in the company's online shopping mall. The company's e-business system is leading the restructuring of the consumer finance industry.
LG Card's acumen with respect to Web marketing and service was publicly acknowledged when the company received the top prize in the credit card category at the Korean Economic Daily Web Awards.
Services Developed on Basis of Surged Assets
LG Partner (www.lgpartner.com) is Korea's first Web site dedicated to installment financing. The site efficiently manages loan consultations and customer data.
Inquiries and offers can be submitted directly to the Head Office for discussion, providing greater convenience and flexibility in the installment financing business.
LG Card has installed a comprehensive back-up system to ensure stable operations.
A special center is in operation to bring the system quickly back online in the event of a mishap, while another system eliminates bottlenecks so that online services are accessible 24 hours a day, 365 days a year for complete customer satisfaction.
Last year, the firm's operating revenue grew 62.5 percent year on year, totaling more than 4.89 trillion won. This drove net income up 65.4 percent to 653.3 billion won, which was 258.4 billion won higher than in the previous year.
In terms of profitability, return on assets (ROA) rose 0.7 percentage points over 2000 to reach 5.1 percent and return on equity (ROE) was 61 percent.
The total transaction volume exceeded 112 trillion won in 2001, up 116.7 percent from a year earlier. Reported total assets grew 25.3 percent year on year to more than 14.2 trillion won, while total assets came up to 27.4 trillion won, up 77.2 percent.
The surge in net income raised the adjusted capital adequacy ratio to 13.7 percent.
In particular, outstanding receivables classified as non-performing loans, according to the definition set by the Financial Supervisory Service (FSS), the state's regulator, for credit card firms stayed at 72.2 billion won at the end of 2001.
The ratio of non-performing loans (NPL) dropped from 0.31 percent at the end of 2000 to 0.26 percent at the end of 2001.
LG Card boasts the best credit management in the industry.
The firm has implemented a corporate-wide credit risk management system to analyze, assess and develop strategies to cope with credit risk.
LG Card is also a long-time user of Compaq NonStop Himalaya technology; since 1995, NonStop systems have formed the core of the company's production, backup, and test system environments.
With credit card purchases on a steady upward ramp, LG Card Co. decided to upgrade its NonStop Himalaya system base to ensure that response time would remain within optimal parameters.
In July 2001, the company added four NonStop Himalaya S74000 processors to its computing environment.
LG Card views Compaq as a worldwide company with good service and support.
Lee said the company has already tested Compaq's iTP WebServer product in anticipation of expanding its business to the Internet. ``Our experience with Compaq has been positive from every perspective.''
The Korea's leading card company plans to stage another series of investor relations sessions in Europe and the U.S. in the latter half of the year.
kys@koreatimes.co.kr Source : Korea Times 23/05/2002
FOR THE FIRST TIME, A TOP U.S. PRIVATE-EQUITY FIRM SELLS ITS STAKE IN A KOREAN COMPANY--AND AT A HANDSOME PROFIT.
Stubborn resistance to acquisitions in Korea hasn't stopped private-equity firms from trying; they succeeded in closing more than $555 million worth of deals last year alone. But turning around a troubled venture and selling it at a profit is something outside investors have only dreamed about until now.
Ta-lin Hsu started a small revolution on the Seoul stock exchange in 1998 when his H&Q Asia Pacific in Palo Alto, California, took a stake in Ssangyong Securities, the first such investment of a private-equity firm in the Hermit Kingdom. This month, the Chinese-born Hsu and his coinvestors--the Government of Singapore Investment Corp. (GIC) and Lombard (backed by Calpers)--will sell a 30% controlling stake (they'll retain 5.5%) in the brokerage, now called Good Morning Securities, to Shinhan Financial Group in Seoul. Investors in H&Q Asia (once affiliated with the U.S. investment house Hambrecht & Quist) will receive $200 million from the deal, a return of 6.5 times their original investment. Hsu's success in turning around the money-losing venture and selling it at a steep profit is another first in Korea.
Money has been pouring into Korean private equity for the past five years, but so far there is little to show for it. "There's lots of thunder but not much rain," says Hsu, who made his first fortune by backing Taiwan's Acer and now has holdings in Starbucks Beijing and Japan's MTV, among many others. Maybe selling a company won't be as difficult as buying one in Korea.
Shinhan, for one, would like to be on the buying end of another private-equity exit. The financial services group is negotiating with Carlyle and J.P. Morgan Chase, which hold a 40% stake in the $1.8 billion Koram Bank.
"Since the IMF crisis, foreigners have taken over many financial institutions in Korea, but those investors will eventually look for an exit," says Young Hwi Choi, a vice president and board member of Shinhan. This fits well with Shinhan's aim to become a formidable competitor in all areas of Korean finance.
But agreeing on a price is no easier for Shinhan than it is for any other potential buyer in Korea. "We have been in negotiations with Koram's shareholders for several months now, and I cannot say when this transaction might be completed," Young says. "As with the acquisition of Good Morning, there is no benchmark for valuing the company. It was the first exit by a foreign investor."
Unfortunately, Hsu's profit is drawing some negative press in Seoul. (The gist is: "Foreigner makes money from Korean sorrows.") In fact, Hsu took a big risk when he bought the brokerage four years ago. "We could have lost all of our equity--and more," he says.
The Ssangyong Group, once Korea's fourth-largest chaebol, was headed for collapse in 1998. Regulators were about to shut the doors on Ssangyong Securities after one potential buyer walked away only hours before a deal was scheduled to close, having been scared away by the dire state of the brokerage's parent company and fears of hidden liabilities on the balance sheet. Hsu stepped in and rescued the firm "without any cost to taxpayers or the kind of government guarantees that most foreign buyers have insisted on in Korea."
Hsu and his coinvestors acquired a 28% stake (it was later increased to 35.5%) in the bankrupt brokerage from Ssangyong Cement for the nominal fee of $1. They recapitalized the firm with new bank loans and a rights offering, giving shareholders a chance to buy into the rescue. Altogether, more than $400 million poured in to Ssangyong. H&Q put in $30 million of its own cash.
The new owners brought in new management--Tim McCarthy from Charles Schwab and Doh Ki-Kwon from Citibank. "We upgraded the whole IT system, introduced internet trading and hired the best analysts we could find," says Hsu. To distance itself from Ssangyong's collapse, the brokerage was renamed Good Morning. "That was a bit tongue-in-cheek," says Hsu, "but the name really caught on. Now you see Good Morning coffee shops and barber shops." Source : Forbes.com 30/05/2002
HIGH-TECH Erreur! Signet non défini.COREE : LA VITRINE DE LA COUPE
Tristan de Bourbon (à Séoul) et Louis Chenaille (à Tokyo)
Ecrans plats, téléphones... La Corée du Sud entend profiter du Mondial pour mettre ses réussites technologiques en valeur.
Séoul veut profiter de la Coupe du monde de football pour mettre en lumière ses plus belles réussites technologiques. Ses performances dans l'industrie des communications ne placent-elles pas la Corée du Sud dans le peloton de tête des nations ? Au point que celle qui, il y a peu encore, regardait son vieux rival japonais d'un oeil admiratif n'a plus de complexes.
La cérémonie d'ouverture marquera le lancement de l'opération Nouvelles technologies. Des écrans à cristaux liquides TFT LCD, dont Samsung est le numéro un mondial, retransmettront les matchs en direct dans des dizaines d'endroits à travers le pays. De nombreuses stations de métro et la plupart des rames et des lignes de bus ont été dotées d'un écran de dernière génération. Sacrée pub pour les deux leaders coréens, Samsung et LG.
L'Internet à haut débit sera aussi de la partie. Grâce aux 8,9 milliards d'euros investis en trois ans par le gouvernement, la Corée du Sud est championne du monde incontestée du secteur (plus de 8 millions de foyers sur 14 sont connectés). Les liaisons à haut débit (85 % du trafic Internet en Corée !) seront disponibles dans tous les stades, les centres de presse et les aéroports, tandis que les PC Bang, l'équivalent de nos cafés Internet, permettront aux visiteurs de s'essayer à la technologie coréenne.
Déferlante publicitaire
Quant à SKT et KTF, opérateurs leaders du marché sud-coréen pour le téléphone mobile, ils ne manqueront pas l'occasion de faire de la pub pour leurs portables miniatures - produits, entre autres, par Samsung, KTF et LG. Des petits bijoux à mi-chemin entre la deuxième et la troisième génération de mobiles, que l'on connecte à l'Internet à haut débit et dont les écrans à cristaux liquides autorisent la couleur et offrent une définition bien supérieure à celles des concurrents étrangers.
Face à la déferlante annoncée par les Coréens, le Japon ne reste pas inactif. Mais - est-ce parce qu'il se sent trop sûr de lui ? - ses efforts de promotion risquent de paraître bien modestes à côté de ceux de son voisin et rival
Source : Le Point 24/05/02
CHAMPIONS DU HAUT DEBIT, LES COREENS SE RENCONTRENT EN JOUANT EN LIGNE
Au moins jusqu'en 2005, les jeux vidéo activés par des milliers de personnes connectées à Internet devraient rester réservés à une minorité d'"accros" dans le monde entier, sauf en Corée. Dans ce pays champion du monde de l'accès à l'Internet à haut débit grâce aux lourds investissements de l'Etat (42 % des foyers y sont connectés, contre 2 % en France), le jeu en ligne est devenu, en cinq ans, le principal loisir des Coréens, tous sexes et générations confondus. Les adolescents ne se rencontrent pas au cinéma, les hommes au bar ou les femmes à la gym : ils se donnent des rendez-vous dans l'un des 20 000 cafés Internet (surnommés "gaming rooms") pour jouer en ligne. Ils se connectent notamment à Lineage, un jeu de rôle médiéval où chacun peut créer son propre personnage (chevalier, princesse, elfe ou sorcière), doté de ses caractéristiques, forces et faiblesses personnelles, et le faire évoluer dans un univers virtuel, s'allier ou combattre d'autres personnages (avec lesquels on communique jour et nuit par l'intermédiaire d'une messagerie instantanée), jeter des sorts, au gré d'une histoire sans fin qui se construit au fur et à mesure des actions des joueurs. Lancé fin 1998, Lineage enregistre aujourd'hui 2,5 millions d'abonnés en Corée (sur une population de 47 millions), qui payent 33 dollars tous les quarante-cinq jours pour se glisser dans la peau de Blazing Sword ou de Gold en Wizardess. Jusqu'à 330 000 joueurs ont été connectés simultanément. Par comparaison, le plus important des jeux en ligne américains, EverQuest, de Sony, compte 430 000 abonnés.
SE SOCIALISER HORS DES CONVENTIONS
"Dans cette société industrieuse, régie par des règles de vie assez rigides, ces jeux permettent à la femme de faire mieux que son mari, à l'employé de combattre son patron, aux jeunes de se socialiser hors des conventions, en s'évadant dans un monde virtuel", explique Jungwon Hahn, président de Vivendi Universal Games Corée, qui détient, avec StarCraft et Diablo, 65 % du marché local des jeux vidéo classiques. NCsoft, la société conceptrice de Lineage, a vu son chiffre d'affaires plus que doubler en 2001 pour atteindre 125 milliards de wons (140 millions d'euros) et affiche (hors investissements) une opulente marge d'exploitation de 50 %. L'action a gagné 40 % en un an, en plein krach des valeurs high-tech, et trois autres sociétés de jeux en ligne coréennes sont cotées en Bourse.
L'exemple de la Corée est donc examiné de près par tous les éditeurs japonais, américains et européens qui cherchent à évaluer le potentiel du jeu en ligne. Mais il s'exporte mal : lancé depuis un an aux Etats-Unis, Lineage n'a convaincu pour l'instant qu'environ 100 000 abonnés malgré des prix cassés. Question de différence culturelle sans doute mais aussi, plus prosaïquement, de moindre équipement en Internet à haut débit.
Gaëlle Macke
Source : Le Monde - 28/05/2002
SATELLITE SERVICE PROPEL TELECOMMUNICATION REVOLUTION
By Kim Deok-hyun
If the 1980s were the time when South Korea firmed up the foundations for revolutionizing its telecommunications systems and services, the next decade was dedicated to taking them to the next level.
The most prominent achievement of the 1990s was the launching of telecommunications satellites and the commercialization of related services.
The 1990s began with the coining of terminologies such as local area network (LAN), value added network (VAN), time division exchange (TDX) and integrated services digital network (ISDN), hastening the arrival of the new age in South Korea? telecommunications.
The government? aggressive plan to increase the number of fixed lines was instrumental in enhancing switching systems and KT was at the forefront of their development.
Working in concert with four telecommunication equipment manufacturers, KT pushed for the modernization of existing networks and conversion to digital networking.
These combined efforts culminated in the installation of the 20 millionth line in 1993, three years ahead of the schedule included in the seventh five-year socio-economic development plan.
The momentous occasion came three years after the 15 millionth line went into operation. This meant a fixed line penetration of 39 per 100 persons, which translates to two phones per household.
With 20 million lines in commercial operations, consumers had access to telephone services wherever they were, improving the quality of life.
The installation of fixed lines opened new doors for KT which had for years been concentrating on developing and providing advanced value-added services.
The digital TDX-10 systems went into operation in 1992 and KT immediately followed up with the introduction of trial and commercial services, providing transmission speeds of up to 2.5 gigabits per second. ^At the same time, the utilization of optical fiber cables made it possible for KT to bring these high-speed and multifunctional communications services to regions of high population density.
These advancements in landline communications services, while certainly important in their own right, were belittled by the successful launching and operation of the Koreasat 1, 2 and 3 telecommunication satellites throughout the 1990s.
The basic blueprint for the business was adopted in February 1989, with the approval from the president, who recognized the need for South Korea to operate its own satellites.
The Ministry of Telecommunications, the predecessor of the Ministry of Information and Communication, proceeded to draft the plan for the satellite project, completing it in January 1991.
Under the plan, the medium-size satellite would carry both broadcasting and telecommunications equipment and auxiliary systems and float in geo-synchronous orbit above Tokyo.
There was keen competition among leading satellite makers, including General Electric, Space Loral and British Aerospace, but GE emerged victorious and a final contract was signed on Dec. 30, 1991.
As for the launching vehicle, McDonnell Douglas beat out General Dynamics and Arianspace in August 1990 bidding to utilize its Delta system for delivering Koreasat 1 into orbit.
Over the next three years, two teams comprising 30 and 24 members respectively, were dispatched to the production site of the satellite and the launching vehicle to obtain the necessary transfers of technology.
The introduction of satellite services was particularly important for Korea with its mountainous terrain, and they would prove instrumental in providing information and communications services to remote areas.
Indeed, the commercial operation of the satellites was at the core of ensuring ``Cyber Korea 21? promoted electronic commerce, cyber universities and diverse multimedia services.
Among the services that KT began to offer were TV receive only (TVRO), T1 satellite aperture terminal (TSAT), satellite mobile data system (SMDS) and satellite news gathering (SNG).
Through the launching of these advanced telecommunications services, the state-run KT, formerly known as Korea Telecom, quickly increased its revenue and profitability.
The improvement in corporate performance also meant that it was increasingly being regarded as one of Korea? top state-run companies, having received recognition in 1986 and 1989 prior to the 1990s.
However, KT was not without its share of problems. Said Lee Hae-wook, the second president of the telecommunications giant, ``We are a company of 60,000 employees with revenue of 4 trillion won.
``With such size comes inherent problems, and we must adopt a new corporate culture and practices to cure our conglomerate disease, in order to provide better quality and services to our customers.
What Lee was referring to was the need to privatize the state-run enterprise to compete effectively in a market, which was undergoing continuous liberalization and opening to foreign competition.
There had been numerous cases of successful privatization of state telecommunication companies in advanced countries, such as British Telecom of Britain and NTT of Japan in the 1980s.
The first initiative at privatization was made in 1987 and the basic guideline was adopted in July of that year through close consultations among related government agencies.
The government plan was to return profits from KT to the public and provide those in the middle- and low-income bracket to accumulate wealth by acquiring shares in the company.
By distributing the shares to a large spectrum of investors, 49 percent were to be sold between 1989 and 1992, KT would be able to turn into a ``public? enterprise with increased management efficiency.
In pursuing privatization, there were numerous details to be worked out, including the revaluation of its assets, but most importantly, its business structure had to be streamlined.
For instance, in 1989, 92.2 percent of KT? profits came from telephone services, considerably more than the 80.2 percent of NTT in Japan, showing the heavy dependence on a single source of income.
In addition, there was a clear recognition that the method of investment would have to change from one designed to benefit the public to one that is geared to generate profits.
Through the modification of the business structure, KT was destined to travel smoothly through the privatization process and prove to be a model enterprise with the most advanced technologies and services.
kdh@koreatimes.co.kr
Source : Korea Times - 15/05/2002
US, EU CHALLENGE SEOUL'S COSMETICS LAW
By Seo Jee-yeon
The United States and the European Union have formally asked Seoul to revise its law and rules on functional cosmetics.
The Korea Food and Drug Administration (KFDA) said yesterday that Washington regards Korea's regulations on functional cosmetics as a trade barrier to U.S. cosmetic exports.
In Korea-U.S. trade negotiations held on May 21-23, the U.S. asked Korea to revise the law in accordance with global standards, threatening to take the issue to the WTO in order to settle the dispute.
Functional cosmetics refers to cosmetics that have a specific function such as skin whitening, diminishing wrinkles in the skin or protecting skins from ultraviolet rays.
Korea implemented the new Cosmetic Law in July 2000, including detailed regulations on functional cosmetics which calls for domestic and foreign manufacturers to summit to the regulator information about the cosmetics' ingredients and testing methods.
But foreign cosmetics companies here have complained that the content of the law goes too far beyond international standards.
They claim that asking manufacturers to make public the chemical composition of their products threatens business confidentiality.
European cosmetics companies also raised the issue earlier this year as a priority trade issue between Korea and EU.
At a press conference last February, head of the EU Delegation to Korea Frank Hesske said, ``Cosmetics and pharmaceuticals have also both been subject to investigations into their WTO compatibility.''
He added that the cosmetics law remained too restrictive on trade, burdensome and excessive in 2001. He warned that should bilateral dialogue bear no fruit, the EU may have to pursue further legal action.
jyseo@koreatimes.co.kr
Source : Korea Times 24/05/2002
AUTOMOBILE : FORTE HAUSSE DES VENTES EN COREE DU SUD
Les ventes de véhicules neufs ont bondi de 19,4% en avril et de 20,4% sur les quatre premiers mois de l'année. Une progression qui profite à Renault Samsung et à Hyundai, mais pas à Daewoo.
Les ventes de véhicules neufs en Corée du Sud ont progressé de 19,4% en avril sur le marché intérieur coréen à 152.040 unités contre 127.337 il y a un an, en raison de faibles taux d'intérêt, de baisses de taxes et de la confiance des consommateurs, selon les constructeurs.
Les ventes de véhicules dans la péninsule s'étaient élevées à 141.190 en mars (+7,7%). Il s'agit de la plus forte progression mensuelle depuis août 1997, juste avant que l'industrie automobile ne soit frappée par la crise financière asiatique.
Les exportations, toujours pour le mois d'avril, ont progressé de 7,2% sur un an à 158.277 véhicules.
Sur les quatre premiers mois de l'année, les ventes sur le marché intérieur ont grimpé de 20,4% à 534.692 et tandis que les exportations ont progressé de 1,9% à 568.420 unités.
Hyundai Motor a annoncé des ventes en hausse de 11,9% à 157.048 véhicules en avril, 73.278 sur le marché sud-coréen (+15,6% sur un an) et 83.770 (+8,9%) à l'exportation.
La filiale de Hyundai, Kia Motors Corp., a de son côté enregistré une hausse annuelle de ses ventes de 18,8% en avril à 92.583 véhicules vendus, 44.003 en Corée (+28,9%) et 48.580 à l'exportation (+11,1%).
Les ventes de Renault Samsung ont progressé de 73,6% en avril sur un an, à 8.700 véhicules et de 96% à 33.452 unités sur les quatre premiers mois de l'année. Renault Samsung, lancée en septembre 2000, a vendu 70.231 SM5 en 2001, soit 4,9% des voitures vendues l'an dernier dans le pays. La part de marché de la filiale du groupe français en Corée du Sud a augmenté à 8,7% au cours du premier trimestre.
Les ventes de Daewoo Motor ont en revanche baissé de 8,4% en avril à 37.802 véhicules (-16,4% sur une base annuelle à 12.857 unités sur le marché intérieur et -2,2% à 24.945 à l'exportation), un résultat que les dirigeants de la firme attribuent au rachat du groupe par l'américain General Motors (GM). Source : Actuauto.com 02/05/2002
DAIMLERCHRYSLER, HYUNDAI MAY CO-DEVELOP CAR PLATFORMS
SEOUL, May 21 (Reuters) - DaimlerChrysler AG (DCXGn) and South Korea's largest automaker Hyundai Motor Co (05380) may co-develop platforms for compact passenger cars, a Hyundai Motor spokesman said on Tuesday.
"Daimler and Hyundai are mulling the joint development of a platform for small cars," Jake Jang told Reuters, confirming comments by the firm's President Kim Dong-jin.
"It will be a front wheel drive platform," he added.
Daimler, the world's number five automaker that holds a 10 percent stake in Hyndai, is seeking to maximise global alliances to cut costs and improve profitability.
Local Internet news providers reported Kim talking about the alliance at a ceremony on Tuesday to launch Hyundai's new compact "Click" in the domestic market.
The U.S.-German automaker signed a joint venture earlier this month with Hyundai Motor and Mitsubishi Motors Corp (7211) to design and develop car engines.
Hyundai Motor shares were down 5.9 percent at 46,500 won at 0356 GMT, while the broader stock market index (KS11) was down 1.24 percent at 855.05 point.
Jang also denied a report on Tuesday in the Chosun Ilbo daily that the automaker would transfer subcompact passenger car production to its affiliate, Kia Motors Corp (00270), by 2005.
"The report is not true," he said. "We have not considered such a move."
Source : Reuters 20/05/2002
MAN SETS SIGHTS HIGH IN KOREA
MAN, a German heavy truck maker, is considering plans to build a truck plant in Korea at some point down the road. "MAN is investigating the production of heavy trucks in Korea as a long-term plan," Sakan Samuelsson, the chairman of MAN Group, said at a press conference in Seoul on Wednesday. MAN Truck & Bus Korea, the firm's Korea truck sales subsidiary, showed off one of its 24-ton trucks at the Grand Hilton in Seoul.
MAN plans to focus for the time being on importing vehicles from Germany and marketing them in Korea before considering local production, if sales reach a certain level. Mr. Samuelsson, 51, said that as a precondition for the plan to be realized, at least 800 trucks must be sold annually in Korea .
MAN Truck & Bus Korea hopes to sell 200 trucks in Korea this year, giving it a 5 percent market share, and increase its sales to 600 units by 2005. The company anticipates that reaching this year's sales target will not be difficult, considering Korea's booming construction market and growing demand for heavy trucks. In theory, MAN can go ahead with the plan to produce trucks in Korea as soon as 2006.
"Samsung Motors has imported and sold 1,000 units of MAN's trucks in Korea, so consumers should be familiar with the quality of MAN's products," Mr. Samuelsson said.
He said that the performance of MAN's trucks has been proven in many countries. The company, which has produced trucks for 87 years, holds 15.7 percent of the European market for 6 ton trucks and larger, following DaimlerChrysler, with 19.7 percent. The chairman said MAN can succeed in Korea even in competition with rivals Volvo and Scania, which have footholds here.
Mr. Samuelsson voiced urgency on plans to expand MAN's sales in Korea. MAN Truck & Bus Korea has seven branches here and plans to add three more. The firm plans to increase the number of repair service outlets from eight to 12.
[JoongAngIlbo (2002.04.25)]
UN ARC EN DUCTAL DE 120 METRES DE PORTEE
Enfin de relier Séoul à l'île de Seonyu, l'ingénieur et architecte Rudy Ricciotti a dessiné une passerelle en forme d'arc élancé de 120 mètres de portée. Pour conserver la finesse du projet, VSL-Intrafor, filiale de Bouygues Construction, a utilisé un béton fibré à ultra-hautes performances, le Ductal.
Premier ouvrage d'art en Ductal, la passerelle de Seonyu, a été inaugurée jeudi 25 avril lors d'une cérémonie organisée par la municipalité de Séoul en Corée du Sud.
Ce pont piéton, qui relie la capitale coréenne à l'île de Seonyu, a été réalisé par VSL-Intrafor, filiale de Bouygues Construction spécialisée en précontrainte et fondations, avec le matériau Ductal fourni par Lafarge. Le Ductal est un béton très innovant qui été mis au point par les équipes de recherche de Bouygues Construction, Lafarge et Rhodia.
Cette passerelle en Ductal représente un exploit architectural unique au monde. Elle est composée d'un arc de 120 mètres de portée (constitué de six voussoirs de 20 mètres de long et de 1,3 mètre de hauteur) sur lequel repose un tablier de seulement 3 cm d'épaisseur. Elle a donc des proportions extrêmement fines, impossibles à réaliser avec un béton classique (une structure en Ductal nécessite en effet deux fois moins de matière, pour les mêmes capacités de portée et de résistance).
La très haute résistance à la compression et à la flexion du Ductal en fait un matériau ductile, caractéristique que ne possède aucun autre béton, et dont il tire son nom. A cette capacité à supporter des efforts importants s'ajoute sa résistance à l'abrasion, aux agressions de la pollution, aux intempéries et aux éraflures, résistance qui est comparable au granit. Sa durabilité, gage de frais d'entretien réduits, participe aussi à son économie tout au long de la vie de l'ouvrage. Il est également parfaitement modelable. Par ailleurs, l'aspect de surface, qui peut être lisse comme du marbre, facilite la recherche des jeux de lumière et de texture. (…) Jean-Philippe Defawe
Source : Batirama.com 26/04/2002
UNE PREMIERE EN COREE DU SUD POUR LE DUCTAL®, BETON DU FUTUR
La passerelle de Seonyu, premier ouvrage mondial en Ductal®, béton fibré à ultra-hautes performances, a été inaugurée lors d'une cérémonie organisée par la municipalité de Séoul en Corée du Sud. Ce pont piéton, qui relie la capitale coréenne à l'île de Seonyu, a été réalisé par VSL-Intrafor, filiale de Bouygues Construction spécialisée en précontrainte et fondations, avec le matériau Ductal® fourni par Lafarge. Ductal®, béton très innovant, a été récemment mis au point par les équipes de recherche de Bouygues Construction, Lafarge et Rhodia.
Cette passerelle en Ductal® représente un exploit architectural unique au monde. Elle est composée d'un arc de 120 mètres de portée (constitué de six voussoirs de 20 mètres de long et de 1,3 mètre de hauteur) sur lequel repose un tablier de seulement 3 cm d'épaisseur.
L'ouvrage en forme d'arc élancé a été dessiné par l'architecte Rudy Ricciotti et participe au projet de transformation de l'île de Seonyu en parc urbain. Imaginée conjointement par la municipalité de Séoul et "Mission 2000 en France" pour célébrer le nouveau millénaire, cette passerelle se veut un symbole de la coopération et de l'amitié entre la Corée du Sud et la France.
L'Asie constitue une zone de développement importante pour Bouygues Construction. Elle est y largement présente à travers ses filiales Dragages Asia, BYME (ingénierie) et VSL-Intrafor (fondations et précontrainte). En 2001, Bouygues Construction a réalisé en Asie-Pacifique un chiffre d'affaires de près de 800 millions d'euros.
Lafarge est présent en Corée du Sud à travers son partenaire Lafarge Halla Cement Corporation, avec une usine à Okke dont la capacité annuelle est de 7,4 millions de tonnes. Lafarge est également présent à travers une joint-venture " Tong Yang Cement Corporation Ltd, Co. ". Cette dernière société possède une usine de ciment à Samchok dont la capacité annuelle de production atteint 11 millions de tonnes. Lafarge est également le leader du marché des plaques de plâtre en Corée du Sud avec des usines à Yosu et Ulsan.
Source : Lafarge (29/04/02)
COREE : UN CONCOURS D'IDEES POUR LA TOUR DE BUSAN
Les autorités municipales de Busan, seconde ville de Corée, lancent un concours international d'idées, ouvert aux architectes de moins de quarante ans, pour la conceprion d'une tour-observatoire. L'édifice-phare, au sommet de la colline de Yongdu, dominera la ville et le port. Cet édifice, destiné à remplacer la tour actuelle, comprendra une salle panoramique et un observatoire, des équipements commerciaux, culturels et touristiques. Trois prix et dix mentions seront décernés. Date limite de réception des projets : 30 septembre 2002. Renseignements auprès du Secrétariat général de l'UIE - Tél. 01.4524.3688
Source : Le Moniteur 24/05/2002
HYNIX ET TOSHIBA CHEZ MICRON
Micron vient d'annoncer le rachat de la division DRAM de Toshiba, Dominion Semiconductor. Cette société, qui était à sa création en 1997 une joint venture IBM / Toshiba avant d'être rachetée à 100% par Toshiba en 2000, est située près de Washington et emploie près de 1000 salariés. Micron, qui a émis 1.5 Millions d'actions et payé 250 Millions de $ pour cette société, compte faire passer cette usine en 0.13µ d'ici à courant 2002.
Micron ne s'arrête pas là, puisqu'un protocole d'accord vient également d'être signé avec Hynix. Selon les termes de cet accord, Micron va racheter la division DRAM de Hynix pour 108.6 Millions d'actions Micron (3.2 Milliards de $). Micron rentrera également à hauteur de 15% dans le capital de Hynix grâce à un investissement de 200 Millions de $ USD, et les banques coréennes feront un prêt de 1.5 Milliards de $ USD à Micron pour ces activés en Corée. Reste que cette acquisition n'est pas définitive puisqu'il faut qu'elle soit approuvée par les créanciers d'Hynix ainsi que par les conseils d'administration de Hynix et de Micron. Il faudra ensuite avoir l'approbation des actionnaires d'Hynix, et celle des autorités anti-trust américaines et européennes.
En effet, si tout cela se concrétise, Micron devrait totaliser au moins 40% de la production mondiale de mémoire. Pire, Micron (Micron + Toshiba + Hynix), Samsung et Infineon (Infineon + Winbond) totaliseraient à eux trois 80% de la production. Autant dire qu'avec une telle force de frappe ces constructeurs pourraient très bien faire évoluer à leur guise le prix de la mémoire. Source : Hardware.fr - 23/04/2002
HYNIX DEMANTELEMENT DE PLUS EN PLUS PROBABLE
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Source : Les Echos - 6/05/02
MICRON FINALISE LE RACHAT DES ACTIVITES MEMOIRES DE HYNIX POUR 4 MILLIARDS DE DOLLARS
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Source : Les Echos - 23/04/02
TELEPHONE MOBILE : SAMSUNG EST DEVENU PLUS RENTABLE QUE NOKIA
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Source : Les Echos - 22/04/02
DAIMLER-CHRYSLER RENFORCE SON PARTENARIAT INDUSTRIEL AVEC HYUNDAI
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Source : La Tribune - 22/05/02
LG REBONDIT SUR LA CELEBRITE DES BLEUS
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Source : Les Echos - 31/05/02
LAFARGE SE RENFORCE EN COREE DU SUD
Lafarge Halla Cement Corporation, le partenaire coréen de Lafarge, a racheté une usine de ciment (clinker) à KDB (Korea Development Bank) pour la somme de 52,3 millions d'euros.
L'usine de Singi a une capacité annuelle de production de clinker de 1,55 million de tonnes par an indique le communiqué. Construite en 1993, elle est située à Samchok dans le nord-est du pays, dans la même région que l'usine de ciment Okke de Lafarge Halla (capacité annuelle de production de ciment 7,5 millions de tonnes).
Avec l'acquisition de l'usine de Singi, Lafarge Halla porte sa capacité annuelle de production de clinker à 8,3 millions de tonnes.
Lafarge est également présent en Corée du Sud au travers d'une joint-venture, "Tong Yang Cement Corporation Ltd, Co.", qui possède dans le nord-est du pays une usine de ciment dont la capacité de production annuelle est de 11 millions de tonnes.
Le groupe français rappelle qu'il est également leader du marché coréen des plaques de plâtre, avec des usines à Yosu et Ulsan. ( 17/05/2002 )
VALLOUREC SIGNE UN CONTRAT AVEC LA SOCIETE DOOSAN EN COREE DU SUD
(AOF) - Valinox Nucléaire, filiale de Vallourec, spécialisée dans la fabrication de tubes pour générateurs de vapeur de centrales nucléaires, vient de signer un contrat avec la société Doosan en Corée du Sud pour la fourniture des tubes des deux nouvelles centrales coréennes. La réalisation de ce contrat complète le plan de charge de Valinox Nucléaire jusqu'à fin 2003
Source : Boursorama - 2/05/2002
PSA S'INTERESSERAIT FORTEMENT AU SUD-COREEN SSANGYONG MOTOR
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Source : Les Echos - 26/05/02
PEUGEOT SAYS EXECS VISITED SSANGYONG, NO BID PLANS
(Recasts with reaction from Peugeot)
By Samuel Len
SEOUL, May 27 (Reuters) - PSA Peugeot Citroen (PEUP) on Monday said it had no plan to bid for sport utility vehicle (SUV) maker Ssangyong Motor after the South Korean firm's main creditor said Peugeot was a potential buyer.
Ssangyong's (03620) lenders are trying to sell its assets after they rescued it from collapse last year through a one trillion-won ($814.1 million) debt-to-equity swap.
Despite its financial woes, South Korea's fourth-largest automaker is recording brisk sales of its SUVs and posted its first annual net profit in a decade last year. But a spokesman for Peugeot in Paris said no deal was being prepared.
"We did receive an invitation to visit Ssangyong," he said. "This was just a visit for our delegates to see for themselves what this company does. There are no talks about potential collaboration."
U.S.-German automaker DaimlerChrysler AG (DCXGn) holds a 1.2 percent stake in Ssangyong, which made an ill-timed foray into luxury sedans shortly before the Asian financial crisis in late 1997.
An offer by Peugeot would mark the second by a French firm in South Korea's auto market since peer Renault SA (RENA) took control of the carmaking division of conglomerate Samsung Group [SAGR.UL] in 2000.
Analysts said a bid by Peugeot Citroen was possible as Ssangyong had a niche in the hot sport-utility vehicle (SUV) sector, which has been boosted by tax breaks.
Peugeot does not make SUVs. Chief Executive Jean-Martin Folz has said that such vehicles represent too few sales, especially in its main market of Europe, to justify the heavy investment needed to enter the segment.
Speculation of Peugeot's interest in Ssangyong pushed the Korean firm's shares up 15 percent, their daily limit, to 815 won, even as the main market index (KS11) fell 1.64 percent.
Peugeot shares traded in Paris gained 0.7 percent to 60.2 euros, in line with the wider Dow Jones Stoxx European autos index (SXAP).
Optimism for Ssangyong's future has grown since it reported a 14.5-percent increase in first-quarter sales, led by domestic sales of its Rexton and Korando SUVs.
"Ssangyong is looking much better," said Suh Sung-moon, an auto analyst at ING Barings. "And the domestic SUV market is continuously strong."
South Korea's auto sector is dominated by Hyundai Motor (05380) and Kia Motors (00270).
Larger rival Daewoo Motor was rescued by General Motors Corp (GM) last month after the U.S. giant agreed to lead a joint venture to revive South Korea's third-largest manufacturer. (Additional reporting by Tom Pfeiffer in Paris)
Source : Reuters 27/05/2002
CARREFOUR BEATS SAMSUNG TESCO IN PROFIT
Homeplus, the discount chain of Samsung Tesco, which was formed in 1999 after a tie-up between Tesco of Britain and the Samsung Corporation, achieved sales of 1.25 trillion won last year, pushing French chain Carrefour to the second spot with 1.15 trillion won in sales, according to the Financial Supervisory Commission (FSC) yesterday.
In 2001 Carrefour Korea chalked up 1.39 trillion won in sales as the number one foreign discount chain, outclassing Samsung Tesco, which recorded sales of 562.6 billion won.
Samsung-Tesco's Home Plus outlets grew 123.3 percent year-on-year, far ahead of other foreign chains with 10 to 41 percent growth rate for that period, the commission said.
But when it came to profits, Carrefour Korea led other rivals, topping 18.7 billion won in operating profits last year and 24.2 billion won in ordinary profits last year.
Samsung Tesco went into the red in earnings, with a deficit of 26.7 billion won in operating profits and 38.3 billion won in ordinary profits.
Meanwhile, the American discount chain Wall-Mart posted 5,698 billion in sales last year and 3.3 billion won in ordinary profits, but lost 3.1 billion won in operating profits.
Another U.S. chain Costco Wholesale also suffered 8 billion won in operating losses and 8.7 billion won in ordinary losses.
Elsewhere in the discount retail market, E-Mart, the discount retail arm of the local group Shinsegae remained dominant, with 3.3 trillion won in sales, 246.1 billion won in operating profits and 172.6 billion won in ordinary profit.
jyseo@koreatimes.co.kr
Source : Korea Times - 29/04/02
WAVECOM RENFORCE SA PRESENCE EN COREE AVEC L'OUVERTURE D'UNE FILIALE
Wavecom SA (Nasdaq : WVCM ; Euronext Nouveau Marché : 7306), l'un des premiers fournisseurs de modules standard de radiocommunications mobiles (WISMO®), annonce aujourd'hui la création de la filiale Wavecom Korea Co., Ltd., détenue à 100 %.
Wavecom avait des activités commerciales en Corée depuis avril 2000. En janvier 2001, une succursale de Wavecom Asia Pacific Limited, sa filiale à Hong Kong, a été implantée à Séoul. Le changement de la succursale en filiale renforce la présence de Wavecom en Corée et répond ainsi à l'augmentation de la demande des fabricants coréens de téléphones portables et de terminaux sans fil.
Les modules prêts à l'emploi, performants et compacts de Wavecom sont déjà intégrés dans un grand nombre de terminaux sans fil fabriqués en Corée. Selon le Ministère de l'Information et des Communications coréen, une augmentation de 50 % des exportations coréennes de téléphones portables et de produits dérivés est à prévoir en 2002, représentant près de 15 milliards US $.
' Wavecom s'implique fortement sur le marché coréen. Leur compétence et leur approche dynamique permet aux sociétés coréennes d'envisager un développement important sur le marché mondial des produits sans fil ', précise Mme Song Mee-Hee, Directeur Général de Wavecom Korea Co., Ltd.
www.wavecom.com
Source : PR LINE 30/05/2002
