■Software
Sony to use Sun's Star
Sony Corp will use Sun Microsystems Inc's Star Office software for Vaio computers sold in Europe, replacing Microsoft Corp's Works software, the Nihon Keizai newspaper said, without citing anyone. Sony, the world's second-largest maker of consumer electronics, will start installing the software in the computers by the end of this year at the earliest, the paper said. This is the first time a major computer maker will use Star Office software on a "full scale," the Nikkei said. Sony expects personal computer shipments of 4.4 million units worldwide for the year ending March 31, 2003. Total shipments last year fell for the first time since 1985, market researcher IDC said, due to a global slump in demand.
■ Industry
The Koreas to build park
South Korea has agreed to break ground for North Korea's industrial park this month despite doubts caused by a standoff over Pyongyang's suspected nuclear weapons program, officials said Sunday. The two sides said in a statement, released in Seoul, that construction work should begin sometime between Dec. 26 and 30 in the North Korean city of Kaesong. The agreement came at the end of three-day talks between the two sides. Cash-strapped North Korea has designated Kaeson near the inter-Korean border as a special economic zone and pledged to extend tax and customs privileges to foreign investors. But the project to build a capitalist business enclave has been thrown into doubt since US envoy James Kelly in October said North Korean officials had admitted to him that they were pursuing a nuclear weapons program.
■ Hynix
Write-off plan pending
Hynix Semiconductor Inc lenders will discuss tomorrow writing off at least 95 percent of the chipmaker's shares to keep it in business, Yonhap News said, citing an unidentified creditor official at Korea Exchange Bank. Creditors, who have been urged to swap 1.9 trillion won (US$1.6 billion) in debt for stock, may also discuss whether to lower a 708 won conversion price proposed for a debt-to-equity swap scheduled for March, the report said. The write-off is scheduled for February, followed by the debt-to-equity swap a month later, it said. Hynix creditors are scheduled to vote on the matter by Dec. 16, Yonhap said. Deutsche Bank AG, proposed swapping 1.9 trillion won of debt for new shares and delaying payment on 3 trillion won to 2006 from 2003 and 2004, Korea Exchange Bank said.
■ Internet
Sina.com in Nike alliance
Sina.com, a Chinese Internet company, said it formed an alliance with Nike Inc, the world's biggest athletic shoemaker, for online marketing. Nike will partner with Sina.com for its online sports channel as the Beaverton, Oregon-based company aims to increase its brand recognition in the China market, Sina.com said in a statement distributed by Business Wire. Nike has an endorsement agreement with Yao Ming, a 2.26m inch Chinese national who joined the Houston Rockets as the NBA's No. 1 pick this year. Sina.com, which operates one of China's three biggest Web sites, forecast it will post a profit next year after its net loss in the July-September quarter narrowed 89 percent on higher advertising revenue and a boost from wireless messaging.
Agencies
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